If I put in an order in an exchange to sell 10 bitcoins for 360 euro each. Does the exchange try to find a buyer for specifically 10 bitcoins for exactly 360 euro.

Or can it sell 0.1 bitcoins for 36 euro.

i.e, is the order being sold in parts or how does the system work? Could you point me in any direction for reading about this?

  • Bitcoin is a currency and not a stock. Please correct either the tags or your question as it is a bit misleading as there isn't an exchange selling bitcoin stock. – JB King Dec 7 '15 at 16:27
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    More apt on bitcoin.stackexchange.com – Dheer Dec 7 '15 at 16:42
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    I'm voting to close this question as off-topic because it belongs to bitcoin.se – Dheer Dec 7 '15 at 16:42
  • You may want to check your Math as if 0.1 bitcoin sells for 36 euro, then 1 bitcoin would sell for 360 euro and 10 bitcoin would sell for 3,600 euro which is quite different than your initial conversion rate. – JB King Dec 7 '15 at 21:37

This depends on the exchange in question, obviously. However, normally a market order is filled as buyers/sellers are available, not all at once. So, in your example, 0.1 bitcoins could be sold for 36 Euros. This is the way the now-defunct Mt. Gox operated and the way most existing exchanges operate.

A system in which orders must be filled completely or not at all is typically not called an exchange, but a matching system.

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