Order book, limit order, market order; what does it all mean?

A new feature of the enhanced Coinmerce platform is the presence of an Orderbook.

An Orderbook is where all open orders are visible. You can see orders that want to buy or sell, how many, and at what prices. You can choose to have a buy or sell ready; you do this through a "Limit order". Do you want your coins immediately, and do the open orders match the price you want? Then you can use a so-called "market order".