💰Maker-Taker Fees: How to Save on Trading Costs 💰 #quinn_tips
On many exchanges, trades incur maker and taker fees. A maker adds liquidity by placing a limit order that isn’t immediately matched, while a taker removes liquidity by filling an existing order. Maker fees are often lower, sometimes even 0️⃣ which can help save on costs.
‼️To be a maker, your limit order must not be executed right away. ‼️ For example, if $ETH is trading at $2,615, placing a limit buy at $2,610 will only fill if the price dips, earning you lower fees. On the other hand, a limit order above the market, say at $2,620, will execute immediately, making you a taker and incurring higher fees.
Of course, there are times when a taker order makes sense, like when you want to jump on a trade right away. But with my trading style, it’s rarely necessary, as the market often pulls back, giving me a chance to catch up with the trend.
You’ve been wondering who these mysterious market makers are? Now you know—it’s me, when I place my orders properly. 😂😂
Join me in the secret society of market makers❕🎩
