A limit order lets you place an order at a specific price or a more favorable price. However, there's no guarantee that a limit order will be filled.
Limit buy orders are executed if the price of the asset hits the limit price or falls below that price.
Limit sell orders are executed if the price of the asset hits the limit price or rises above that price.
A market order is a buy or sell order that gets filled right away at the best price currently available on the market. Market orders require liquidity to be filled, which means that the order is executed based on the limit orders that were previously placed on the order book.