A market order is an order to buy or sell immediately at the next best available price. That means if you are going to buy an asset, you will pay a current market price at or near the posted ask, and if you are going to sell an asset, you will receive a price at or near the posted bid.
A limit order refers to a pending order, allowing investors to buy or sell at a certain price in the future. This order will only be executed when the price hits the specific price level you set. The order will not be filled if the price does not hit this level. A limit order price can be the maximum or minimum price that you are willing to buy or sell.