What is the difference between market and limit orders?

What is the difference between market and limit orders?

A market order is an order to buy or sell an asset at the current market price, while a limit order is an order to buy or sell an asset at a specified price or better. Market orders are typically executed quickly but do not guarantee a specific price, while limit orders can help traders ensure they get the desired price but may not be executed if the market does not reach the specified level.

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