Market price order
When buying or selling via a market order, you can buy or sell at the best market price.
You are paired by the platform that you transact on with one or more buyers and sellers before your order is fulfilled at or near the current market price. If the market is unpredictable this can backfire.
You can end up buying or selling at a price that is lower or higher than expected, but you can usually buy and sell at or close to the market price when the market is active and steady.
Limit price order
In most situations, a limit order is the smartest trade to do, as it is not subject to “slippage” (you can specify your price).
When you buy/sell at a price cap, you set the price at which you wish to buy/sell, and the order is executed when price reaches to the point. As with a market order, you’re not automatically going to get the exact price you expected. With that said, you’ll often get a price above your cap (when you sell) or below (when you buy). Or put it another way, cap orders are not subject or slippage to restate. You will either get a great deal, or you will get the deal that you have asked for.
The risk with limit orders is that you may skip an opportunity to complete your order if you are trying to make money, and you set the limit too high/low.