Never miss a dip: Limit Orders are live on Bull Bitcoin

With Bitcoin continuing its ascent to new heights, our engineering team worked day and night to ship the perfect feature you need to never miss a dip: Limit Orders. 

Limit orders allow you to define a limit price at which a buy order will be created. As always with Bull Bitcoin, we won’t take custody of your hard earned sats; they will be sent directly to your wallet through the payment method of your choice (Onchain, Liquid, or LN – see the “payment method” section). 

How to create a Limit Order:

To create a limit order, you just click on the “Limit Order” box on the home page:

Then you will get a screen disclaiming the main conditions for Limit Orders:

After clicking on the “open a limit order” button in the middle of the screen, you will be asked to define the parameters of your limit order:

You can select directly a limit price, or simply choose a percentage drop from the current index price using the slider

Amount & Payment Methods:

On the next screen, you’ll choose the amount you want to buy and how you want to receive it (BTC on-chain, Lightning, or Liquid).

Usual limitations for payment methods also apply on this type of order:

• Bitcoin On-chain from amounts > 0.001 BTC

• Lightning Network (here LN-Address) up to 0.25 BTC satoshis

• Liquid 

Default payment methods can be set-up in “my account”>”default Bitcoin addresses”, or at the bottom of the home page (see below). If privacy is a concern to you, when using BTC, we advise you not to use default addresses and to generate a new address from your self-custodial wallet.

Limit Price and Effective Price Paid:

It is important to note that, while the limit price is triggered by the Index rate, colloquially referred as the “Bitcoin price”- found on the right on the home page, it’s the “buy price” that will determine the effective price at which you buy. As this “buy price” includes a spread on top of the index price, the price you will pay will be slightly higher than the limit price you set on your limit order.

You can check the effective spread applied on your buys and sells (it is the same for every order type: limit, DCA, Auto-buy, standard buy & sell) by clicking on “exchange rates and spreads” below the bitcoin chart on the home page. 

For clarity’s sake, the estimated Price you will pay will be displayed on the confirmation screen:

Limit Order Summary:

On the Home screen you will find the details of all your open Limit Orders. You can have up to 5 limit orders at the same time, each active for one-year by default. To change the conditions of your limit order you can simply delete an old one and create a fresh one: there is no cost associated with creating and deleting limit orders. 

N.B: Limit orders draw on your balance to create a standard “buy order” when the index rate reaches your limit price, so make sure you have enough funds in your balance for it to execute. If you don’t, it will be partially filled with the maximum amount possible, and the remainder will be canceled (all rules and conditions are detailed in our “terms and conditions”).

Conclusion:

To our knowledge, Bull Bitcoin is the only self-custodial bitcoin broker offering limit orders. We are quite proud to provide you with this new tool to help you stack as hard as you can without compromising on Bitcoin’s core values, especially self-custody.

Now you won’t have any excuses not to buy the dip!