What’s the difference of Maker and Taker Fee?
Hi, this is Kuraizuke and welcome to my digital lifestyle.
For today, I will be explaining what is the difference between a Maker and Taker Fee.
While I was checking the chat box on Coinut, I stumbled upon on this question: “What does maker and taker means?”
So I answered his query with this explanation:
“It's a fee where you pay when making an order. As you could see they only charge for the taker fee and no maker fee which is an edge on this site. Other exchanges will charge you 0.25% both maker and taker fee. When you create an order that is immediately matched with already existing orders, you're a taker because you take liquidity from the market. When you add an order that doesn't match existing offers, you add liquidity to the market and supposedly charged a maker fee but here on Coinut, they does not charge you at all. Only the takers fee which 0.1%. That's super low.”
To make an example:
- Jose sold $1000 and Ryan sold $970.
- Violy bought $1000 and Clarence bought $960.
So Violy will become the taker because her order matches with Jose while Clarence will be the maker since her order did not match which she will wait for an order to be set so that she can get the order close.
I hope that clarifies a bit and I will discuss more in the future...
If you are interested to join, you may use this link: https://coinut.com/?r=7t6 and they are offering free 0.001 LTC but I hope that you are joining not because of the referral bonus only but because you want to learn trading.
Please watch the video below for detailed information:
Disclaimer: I don’t consider myself a financial adviser and before deciding to participate in any exchange platform, you should carefully consider your investment objectives, level of experience, and risk appetite. You should be aware of all the risks associated with Cryptocurrency trading, and seek advice from an independent financial adviser if you have any doubts.