How does the “Swap” function on mobile work? Is it a market order?
The “Swap” function provides a simplified user experience for placing a limit order at the current market price.
“Swap” does not use market orders. We monitor trades on a number of major exchanges and compute a fair buy/sell price. This price is then used as the limit price for an order on our exchange. It may not fill completely immediately, in which case you can leave it open until it has done so.