A market order is a fundamental type of order used in trading, particularly in the cryptocurrency markets. It instructs the broker or exchange to buy or sell a specific asset immediately at the current market price. Market orders are typically executed quickly, making them a popular choice for traders who prioritize speed over price precision. The concept of market orders has been around for decades, evolving alongside financial markets to accommodate the increasing complexity and speed of trading.

The primary advantage of market orders is their simplicity and the guarantee of execution, as they are filled at the best available price in the market. However, they come with the risk of , especially in volatile markets, where the price can change rapidly between the time the order is placed and when it is executed. For this reason, to minimize slippage risk, traders use other types of orders, such as , when trading in volatile and markets.