We currently support only market orders:
Market orders are filled immediately against resting orders at the current best available price.
To help protect your market orders against high volatility in crypto price, we “collar” your market orders up to 1% for buys, and 5% for sells, based off the last trade price. What it means is your order will not execute if the price of the cryptocurrency increases more than 5% lower than its price at the time you placed a market sell order. For example, if you place a market sell order at US$100 and the next trade price is below US$ 95, it will not be executed.
On the other hand, when you place a market buy order, it will not execute if it drops more than 1% higher than its price when you placed the order. For example if you place a market buy order at US$100 and the next trade price is above US$101, it will not be executed.
Your order will be executed when the price comes back within the collar.
It is possible to buy or sell cryptocurrencies at fractional amounts, and not only full coins.
Note: The order maximum for cryptocurrencies is a $250,000 cost basis.
Estimated Buy and Sell Price
You can see the estimated buy or sell price for a cryptocurrency in your mobile app:
- Go to the Detail page for the cryptocurrency.
- Tap Trade.
- Tap Buy or Sell.
- Tap Est Buy Price or Est Sell Price.
It is possible to invest in cryptocurrencies 24/7 on Passfolio.
Instant Cryptocurrency Settlement
The proceeds from your Crypto sales will be received immediately. However, the transfer settlement period still applies when you withdraw the funds from your crypto account to your bank account. This means you won’t be able to withdraw the proceeds from your sales immediately, it depends on the transfer method you are using.
Crypto Buying Power
Crypto Buying Power is the amount you have available to buy cryptocurrencies. All the proceeds from crypto sales are available to your crypto trading account immediately.
The cost basis is calculated on a First-In-First-Out (FIFO) basis, which means the cryptocurrencies will be sold in the order they were bought.