How do taker fees work in the world of digital currencies?

3 answers

• Dec 16, 2021 · 3 years ago
  Taker fees are a type of trading fee that is charged to users who take liquidity from the order book. When you place an order that gets filled immediately, you are considered a taker. Taker fees are usually higher than maker fees, which are charged to users who provide liquidity to the order book. These fees help incentivize market makers and ensure there is enough liquidity in the market. Taker fees can vary between different cryptocurrency exchanges, so it's important to check the fee structure before trading.
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• Dec 16, 2021 · 3 years ago
  Taker fees are like the cost of convenience in the world of digital currencies. When you place a market order and it gets filled right away, you're considered a taker and will be charged a fee for taking liquidity from the order book. This fee is typically higher than the fee charged to market makers, who provide liquidity by placing limit orders. Taker fees can eat into your profits, so it's important to consider them when trading.
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• Dec 16, 2021 · 3 years ago
  BYDFi, a popular digital currency exchange, charges taker fees to users who take liquidity from the order book. When you place a market order and it gets filled immediately, you'll be charged a taker fee. The fee amount depends on the trading volume and can be found on BYDFi's fee schedule. It's important to factor in taker fees when calculating your trading costs on BYDFi or any other exchange.
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