What is the Maker/Taker?
Summary: Maker places order first, and Taker takes the offer.
You become a “Maker” when you place an order which does not execute immediately against an order on the order book. Your order will be stayed in the order book and provide liquidity until the other takes it.
You become a “Taker” when you place an order that matches the order in the order book and executed immediately which will instantly decrease the liquidity. If a “Taker” order’s amount is too much to fill completely, the remaining amount will be a new “Maker” order and stays in the order book.
If you place a limit buy below the current market price, or a limit sells above the current market price, then you will pay the Maker fee when your order is filled because you added liquidity to the order book until others take your offer.
If you buy or sell using a market order, you will pay the taker fee because a market order immediately removes the liquidity of the market.