Limit Order is added to the order book and executes when it matches another order.
The LIMIT order requires a price and amount to be selected. If the selected price is better than the price in the order book, the LIMIT order will behave like the MARKET order and execute instantly. Otherwise the order will be added to the order book and will wait until it is matched against another order.
If the LIMIT order is created with a price worse than the best available price in the order book, it will execute instantly and the user will pay the taker fee. Otherwise the user will pay the maker fee.