Good 'Til Canceled

Good 'Til Canceled

Lia Jonon
Lia Jonon
Author
Good 'Til CanceledIn cryptocurrency, the term "Good 'Til Canceled" or GTC refers to a type of bid or order to buy or sell digital assets that remain valid until it is executed or canceled by the trader.When a trader places a GTC order, they indicate that they want to buy or sell a certain amount of cryptocurrency at a certain price, and that order remains active in the market until it is executed or canceled.
 One of the main advantages of GTC orders is that they have no time limit. That is, if the GTC order is not executed immediately, it remains in the system and can be executed later when market conditions meet the specified requirements (for example, the price will reach the level specified in the order).
However, it should be noted that the GTC order may remain active in the market for a long time and will not be automatically canceled. Therefore, traders should be careful and manage their active orders not to leave them active longer than required or planned.
 It is also important to consider the rules and conditions of the particular exchange or platform on which a GTC order is placed, as they may have their own rules for canceling or timing such orders.
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