RINO - A multi-signature based enterprise wallet, free for first year of use. RINO is the only enterprise wallet for Monero that has multi-signature security. Designed for teams and organizations, RINO provides features such as spending limits and four-eye approvals. Monero is the number one privacy-focused cryptocurrency in the world. While Bitcoin and Ethereum reveal every transaction to the world, Monero’s unique cryptography provides the privacy that traditional pre-crypto finance takes for granted. Businesses do not, in general, want…
What Are Crypto Maker and Taker Fees?
A maker fee is a fee charged to a trader who adds liquidity to the order book by placing a limit order below the ticker price for a buy and above the ticker price for a sell.
A taker fee is a fee charged to a trader who removes liquidity from the order book by placing a market order or a limit order executed against an existing order on the order book.
For example, let’s say the current market price for a cryptocurrency is $100. If a trader places a limit order to buy 1 unit at $98, they would be considered a maker and would typically be charged a lower fee.
If a trader places a market order to buy 1 unit at the current market price of $100, they would be considered a taker and would typically be charged a higher fee.
The fees vary depending on the exchange, trading pair, and trading volume. Some exchanges can have maker fee as low as 0% and taker fee as low as 0.1%.
Crypto Maker vs. Taker Fees
Maker vs taker fees refer to the fees charged to traders on a cryptocurrency exchange. A maker fee is charged to a trader who adds liquidity to the order book by placing a limit order below the ticker price for a buy and above the ticker price for a sell.
A taker fee is charged to a trader who removes liquidity from the order book by placing a market order or a limit order that is executed against an existing order on the order book.
The main difference between maker and taker fees is the effect they have on the order book.
Maker orders add liquidity by sitting on the order book and waiting to be filled, while taker orders remove liquidity by being filled immediately. Because makers are providing liquidity to the market, they are typically charged a lower fee than takers.
The fees for maker and taker trades vary depending on the exchange and the trading pair.
Some exchanges charge no maker fee and a low taker fee, while others charge higher fees for both maker and taker trades. The trading volume also can affect the fees, some exchange can offer volume-based discounts.
Traders must understand the difference between maker and taker fees and how they may affect their trading strategy. Some traders prefer to be market makers, adding liquidity to the order book and paying lower fees, while others prefer to be market takers, quickly executing trades and paying higher fees.
The Importance of Crypto Market and Taker Fees in Crypto Trading
Maker and taker fees are important for cryptocurrency traders because they can have a significant impact on trading costs and profitability. The difference in fees between maker and taker trades can affect a trader’s decision on how to execute their trades.
For example, a trader who is looking to hold a position for a longer period of time may choose to place a limit order and pay the lower maker fee, as they are willing to wait for their order to be filled. On the other hand, a trader who is looking to quickly enter or exit a position may choose to place a market order and pay the higher taker fee, as they are willing to pay more for the immediacy of the trade.
Additionally, for traders who engage in high-frequency trading or scalping, the difference between maker and taker fees can be substantial over time. These traders execute many trades over the course of a day, so the difference between maker and taker fees can add up quickly and affect the overall profitability of their trading strategy.
Moreover, Maker and Taker fees also indicate how liquid the exchange is. If the exchange has a high maker fee and low taker fee, then there is high liquidity, which is a good indication for traders.
Maker and taker fees are important for cryptocurrency traders because they can affect trading costs and profitability, and also can indicate the liquidity level of the exchange. Traders should carefully consider the difference between maker and taker fees when executing their trades.
Bitcoin Bull Run Is Underway for 100K in 2024 According to Crypto Execs
The prospect of Bitcoin reaching $100,000 by 2024 has been considerable discussion among cryptocurrency executives and analysts. Several factors underpin this anticipated bull run, including the potential approval of Bitcoin ETFs and the upcoming Bitcoin halving event in April 2024. Pascal Gauthier, CEO of Ledger, suggested that 2023 was a preparatory year for the cryptocurrency market, setting the stage for the anticipated bull run. He highlighted the likelihood of a spot ETF approval as a significant catalyst for this surge.…
Lugano Accepts Bitcoin and Tether for Taxes
In a notable development for cryptocurrency adoption, Lugano, a city in Switzerland, has introduced Bitcoin (BTC) and Tether (USDT) as acceptable forms of payment for various municipal services, including taxes. This move is a part of the city's broader initiative, known as "Plan B," aimed at integrating Bitcoin technology into the city's financial infrastructure. Making payments with these cryptocurrencies has been streamlined for simplicity and efficiency. Residents and businesses in Lugano can now settle any municipal invoice using BTC or…
Rowan Energy: Green Energy Meets Blockchain – An Exclusive Interview with CEO and Founder David Duckworth
In a world increasingly focused on sustainable solutions, Rowan Energy, led by founder David Duckworth, is making significant strides at the intersection of renewable energy and blockchain technology. We sat down with David to explore the motivations, technology, and aspirations shaping this innovative UK-based company. What inspired you to create Rowan Energy, and how does your vision for the company align with the current needs of the renewable energy sector? The whole business started at my kitchen table in 2018. …
Coinbase Rolls Out Money Transfers via Social Media
Coinbase, a leading cryptocurrency exchange in the U.S., has introduced a groundbreaking service allowing users to transfer money via popular social media and messaging platforms. This innovative feature is integrated into the Coinbase Wallet, streamlining the process of global money transfers. The key highlight of this service is its simplicity and convenience. Users can send money through any platform that supports link sharing, including widely-used messaging apps like WhatsApp, iMessage, Telegram, and social media platforms such as Facebook, Snapchat, TikTok,…
How to track crypto – Best apps
Cryptocurrency has revolutionized the financial world, offering a unique blend of security, decentralization, and growth potential. As the crypto market expands, tracking your investments and staying informed becomes crucial. This article delves into the best apps for tracking cryptocurrencies, ensuring you stay on top of your digital assets. CoinGecko Features: Extensive Cryptocurrency Coverage: CoinGecko tracks real-time prices for over 10,000 cryptocurrencies, offering a broad market view. Comprehensive Data Access: Provides information on market capitalization, trading volume, and other essential data…
The Quest for Better On- and Off-Ramps in Web3
As we witness the impressive growth and evolution of the cryptocurrency market, we've come to an essential realization: our journey towards widespread Web3 adoption is still unfolding, with much ground yet to cover. The DeFi sector, once a niche component of the broader business world, has now taken a significant leap forward. The numbers speak volumes: over 15,000 decentralized applications (DApps), twice as many NFT collections, and more than 50 chains are now active, according to DappRadar. Yet, these impressive…
The Tokenomics behind Sonorus – Earning SNS by holding a DJ Node
Sonorus is a Web3 platform seeking to change the future of the digital music industry and reward artists and music lovers. It uses a decentralized music voting system, TrendFi, enabling fans to earn by supporting their favorite songs while helping musicians gain the rewards and recognition they deserve. The platform operates on the Binance Smart Chain, offering transparent, engagement-driven monetization. Like most blockchain-based ecosystems, Sonorus uses digital tokens to fuel operations and ensure its growing community has a common medium…
What Will Happen to Crypto in 2024?
Cryptocurrency has become a hot topic in recent years, with digital assets like Bitcoin and Ethereum gaining immense popularity. As we look towards the future, many wonder what lies ahead for crypto in the year 2024. In this article, we will explore the current state of cryptocurrency, predict its future trajectory, and examine the impact of technology and economics on this rapidly evolving sector. Understanding the Current State of Cryptocurrency The rise of cryptocurrency has been nothing short of remarkable.…
What are the Web3 wallets?
In today's digital age, the concept of Web3 wallets has gained significant attention. But what exactly are these wallets, and why are they important in the digital world? Understanding the Concept of Web3 Wallets Definition and Function of Web3 Wallets Web3 wallets, also known as decentralized wallets or blockchain wallets, are digital wallets that allow users to store, manage, and interact with cryptocurrencies and other digital assets. Unlike traditional wallets, which are physical objects used to store cash and cards,…