A buy or sell order on an exchange that is posted on the order books and executed only when a buyer or a seller meets your set price.
You want to sell 10 BCH, at $2,000 USD. You post a limit sell order on the for 10 BCH at $2,000 USD and that order will stay on the books until buyers start purchasing at the sell price. These orders can be open for minutes, to months, and potentially even years before they are either fulfilled or canceled
* All terms and definitions may update as the Cryptionary improves.