Probably you have heard already about “Maker” and “Taker” orders. In this guide we are going to explain you what is the difference between these two types of orders. So let’s begin.
One of the main aspects where it differs is fees. Makers fees are usually lower than takers. By creating a “Maker order” you provide the orderbook with a liquidity (it means you create the order that may be matched in the future; you don’t ask to execute your order immediately thus creating supply on the marketplace). In case of “Taker” order you consume the orderbook liquidity by taking an order from the book of orders, that’s why it’s called “Taker”.
Currently at LATOKEN, there is no difference in fee for spot trading between maker and order.
By placing an order that won’t be executed immediately you become a “maker” providing a liquidity and waiting until someone will fill your order.
In case of “Taker” order you place an order that will be matched instantly with the already existing order from the orderbook.