Glossary

Created by Apollo Support, Modified on Fri, 8 Sep, 2023 at 1:33 PM by Apollo Support

As you discover Bitcoin products on Apollo, you may come across some terms that are new to you. This page is designed to help you understand what they mean so you can make informed decisions when selecting the right Bitcoin products for you.

Auto-withdrawal into self-custody

Auto-withdrawal is a feature that enables you to automatically transfer your Bitcoin balance from your exchange account to a specific Bitcoin wallet that is controlled by you.

Taking full control over your Bitcoin right after a purchase has been completed reduces the risk of losing your assets in the event of an exchange compromise.

Before using this feature, we recommend you thoroughly understand how the Bitcoin wallet of your choice works, and how to properly store and use private keys.

Lightning Withdrawals

Lightning Withdrawals enable the rapid transfer of your Bitcoin balance from your exchange account to a Bitcoin wallet using the Lightning Network, a second-layer solution that operates on top of the Bitcoin blockchain.

Lightning transactions have faster transaction speeds and much lower fees compared to traditional Bitcoin on-chain transfers.

Please note: Not all Bitcoin wallets are compatible with the Lightning Network and some wallets only support on-chain transfers.

Limit Orders

A Limit Order feature allows you to specify a predefined price at which you wish to buy or sell Bitcoin. Unlike a market order, the transaction will only occur if Bitcoin reaches this price, or a better one. Many exchanges offering this feature also provide options to set an expiration date for the order, as well as preference for either full or partial fulfillment, giving you control over whether the order should be completed entirely, partially, or canceled if the conditions are not met.

Recurring Buys (DCA)

Recurring buys, often referred to as “Dollar Cost Averaging” (DCA), refers to the automatic purchase of a predetermined fiat amount of Bitcoin at regular intervals, such as daily, weekly, or monthly, irrespective of its current market price.