How to buy Crypto on Independent Reserve

How to buy Crypto on Independent Reserve

Independent Reserves low fees and flexible site make it a go to for us when buying crypto currency in Australia.

Taken from the Independent Reserve website, Here are the steps to get your account

Click here to sign up to Independent Reserve

Once you are signed up, verified and deposited funds there are a few different order types on Independent Reserve. Here are a bit of info on each one –

Market order

When placing a market order you are simply telling the system to buy your volume of Bitcoin at the best price the order book has to offer. Note that to fill your order, the system may have to match your buy order against multiple order book sell orders, which could mean the price gets more and more expensive. This is purely reliant on the size of your order, and the depth of the order book (the volume of sell offers that exist at your price).

Limit order

When placing a limit buy order, you are telling the system how much Bitcoin you wish to buy, and also the maximum price you are willing to pay. This is a way to ensure that the price doesn’t slip like it can with a market order. However it does mean that the system will hold on to your order and only execute it when other sell orders appear on the order book at the price (or below) that you’re willing to pay. This means it is possible for the market to move up, and your order will never be filled.

Stop price

ou may notice an Advanced Options check box in the BUY (LIMIT) or SELL (LIMIT) screen. This enables you to set a stop price, sometimes called a stop loss order. What this essentially means is if the market starts running away (moving quickly up or down), you can direct the system to place an order for you when the market hits a certain level such that you don’t miss out.

If you need any more information on these, see the Independent Reserve support page – https://www.independentreserve.com/bitcoin/how-to-buy

You can also contact us on our contact page, shoot us an email or jump on discord!

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