In the cryptocurrency trading market, there are two main roles: the taker and the maker. Understanding the concepts and operations of these two roles is crucial for engaging in trading. Here is a tutorial guide on takers and makers:
A taker refers to a trader who places an order that is immediately executed by buying from existing orders placed by makers. When you place an order that is immediately matched with an existing order from a maker on the market, you become a taker. Market orders are types of orders that are executed immediately by matching available orders from makers in the order book. Taker orders can be partially or fully filled.
A maker refers to a trader who creates an order and places it on the trading platform's order book, waiting for it to be matched. When you place a limit order (or other types of orders that enter the order book) that is not immediately executed, you become a maker. Maker orders enter the order book, providing liquidity to the market and waiting for other traders to match them when the conditions are met. Maker orders can be partially or fully filled by takers.
Advantages and Fees:
At BiKing, there are 0.1% fees for both takers and makers.