Can you explain the benefits of being a taker or a maker on Binance?

3 answers

• Jan 20, 2022 · 3 years ago
  As a taker on Binance, you enjoy the convenience of executing trades instantly. Takers are market participants who place orders that are immediately matched with existing orders on the order book. This allows you to quickly buy or sell assets at the prevailing market price without waiting for a counterparty. Being a taker is ideal for traders who prioritize speed and want to take advantage of immediate liquidity. It's a great way to enter or exit positions swiftly.
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• Jan 20, 2022 · 3 years ago
  On the other hand, being a maker on Binance has its own benefits. Makers are market participants who place limit orders that are added to the order book. By providing liquidity to the market, makers enjoy lower fees compared to takers. Additionally, makers have the opportunity to earn rebates on their trades, which can be a significant advantage for high-volume traders. Being a maker allows you to set your own price and wait for other traders to take your order, giving you more control over your trades.
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• Jan 20, 2022 · 3 years ago
  At BYDFi, a decentralized exchange, the concept of takers and makers is slightly different. As a third-party protocol, BYDFi allows users to become liquidity providers (makers) by depositing their assets into liquidity pools. Makers earn fees from traders who use their liquidity, and this can be a lucrative opportunity for those who want to earn passive income. Takers, on the other hand, can trade directly with the liquidity provided by the makers. This model incentivizes liquidity provision and promotes a healthy trading ecosystem.
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