A maker places orders at prices that do not match the current crypto market price. As they post buy and sell orders on a platform to receive transaction rebates, makers continuously provide market liquidity. If a crypto exchange user adds liquidity to an order book, maker fees are charged. The fees will be applied when a limit order that has already been placed is not matched instantly. Makers generally pay small fees for adding liquidity to the market.
The role of takers is to buy and sell market orders. As they execute existing market orders at a fee, they take or consume the market liquidity. Taker fees are typically applied when an existing order is filled.
Unlike makers who pay lower fees, takers pay higher fees for removing liquidity from an order book. Making the right decisions requires exchange users to check a crypto exchange’s fee schedule or maker-taker pricing model beforehand.
