When trading cryptocurrencies, every transaction comes with costs — and understanding these fees is crucial for maximizing profits and minimizing expenses. One of the most important distinctions in crypto exchange fee structures is between maker fees and taker fees. These two types of charges depend not on what you're trading, but how you're trading: whether your order adds liquidity to the market (maker) or removes it (taker).
This guide breaks down everything you need to know about maker and taker fees, how they work, and how they impact your overall trading strategy.
What Are Cryptocurrency Trading Fees?
Trading digital assets like Bitcoin or Ethereum isn’t free. Exchanges charge fees for facilitating transactions, and these costs can vary significantly based on several factors — including order type, trading volume, and platform policies.
Most crypto exchanges classify trades into two main categories:
- Maker orders – Orders that add liquidity to the order book
- Taker orders – Orders that remove liquidity by executing against existing orders
These classifications directly affect the fees you pay and play a vital role in maintaining market efficiency and stability.
👉 Discover how different order types affect your trading costs and learn strategies to optimize them.
Maker vs Taker Fees: The Core Difference
At the heart of every exchange’s pricing model lies the maker-taker fee structure, designed to incentivize behaviors that support healthy markets.
What Is a Maker Fee?
A maker is a trader who places an order that does not execute immediately but instead waits in the order book — thereby adding new liquidity to the market. These are typically limit orders set at a price different from the current market rate.
For example:
- You place a buy limit order for Bitcoin at €58,000 when the current price is €60,000.
- Your order sits in the book until someone sells at that price.
- Because you’ve added depth to the market, you’re considered a maker and usually pay a lower fee — sometimes even zero or negative fees on certain platforms.
Exchanges reward makers because their orders improve market stability, reduce slippage, and make trading smoother for everyone.
Key Traits of Maker Orders:
- Usually limit orders
- Do not execute instantly
- Add liquidity to the order book
- Often come with lower or discounted fees
However, there's a trade-off: you must wait for your price to be met, which may not happen if the market moves away from your specified level.
What Is a Taker Fee?
A taker removes liquidity by fulfilling an order already present in the book. This includes market orders or limit orders that match existing bids/asks immediately.
For instance:
- The best available sell price for Bitcoin is €60,000.
- You place a market buy order — it executes instantly at that price.
- Since you’ve taken an existing offer off the table, you’re a taker and pay a higher fee than a maker would.
Taker fees are generally higher because takers benefit from immediate execution — a service enabled by makers who provided the underlying liquidity.
Key Traits of Taker Orders:
- Include market orders and aggressive limit orders
- Execute instantly
- Remove liquidity from the market
- Carry higher transaction costs
Can an Order Be Both Maker and Taker?
Yes — in some cases, a single order can incur both maker and taker fees.
Imagine this scenario:
- Trader A places a buy limit order for 1 BTC at €59,000.
- Trader B wants to sell 2 BTC at €59,000 and places a sell limit order.
- Upon submission, 1 BTC of Trader B’s order matches immediately with Trader A’s order — this portion executes as a taker, so B pays a taker fee for 1 BTC.
- The remaining 1 BTC stays in the order book as an open limit order — now acting as a maker.
- When another trader later buys that remaining BTC, Trader B pays a maker fee for that portion.
Thus, one order can result in split fee treatment, depending on how much executes immediately versus how much remains pending.
👉 See how advanced trading tools can help you control whether your orders act as makers or takers.
Why Do Exchanges Use Maker-Taker Pricing?
The maker-taker model isn’t arbitrary — it’s a strategic mechanism used by exchanges to:
- Encourage users to place limit orders (adding liquidity)
- Ensure tighter bid-ask spreads
- Reduce volatility and slippage
- Attract high-frequency traders and algorithmic systems
By offering lower (or even rebated) fees to makers, exchanges create incentives for participants to build deeper, more resilient markets.
This system benefits all users indirectly — even takers — because increased liquidity leads to better price discovery and faster executions.
Common Misconceptions: Maker ≠ Market Maker
It's easy to confuse “maker” with “market maker,” but they aren’t the same.
- A maker refers to any user whose order adds liquidity (typically retail traders using limit orders).
- A market maker is usually an institutional player or firm that systematically provides liquidity across multiple assets using algorithms, large capital reserves, and automated trading bots.
Market makers often operate under special agreements with exchanges and receive rebates or incentives beyond standard maker discounts.
While individual traders can act as makers, true market makers play a broader role in stabilizing entire markets.
How to Choose Between Maker and Taker Orders
Your choice should align with your trading goals:
| Goal | Recommended Order Type |
|---|---|
| Save on fees | Use limit orders (aim to be a maker) |
| Execute quickly | Use market orders (accept taker fees) |
| Precision control | Use limit orders with strategic pricing |
| High-frequency trading | Optimize for maker rebates |
Keep in mind: not all exchanges charge the same. Some offer tiered fee models based on 30-day trading volume, while others provide fee discounts for paying with native tokens (e.g., OKT, BNB). Always review the fee schedule before choosing a platform.
Frequently Asked Questions (FAQ)
Q: Are maker fees always lower than taker fees?
Generally yes. Exchanges incentivize liquidity provision, so maker fees are typically lower — sometimes even negative (you get paid to place the order). However, during periods of high volatility or on niche platforms, the difference may shrink or reverse temporarily.
Q: How do I know if my order will be a maker or taker?
If your limit order price is better than the current best bid/ask, it won’t execute immediately and becomes a maker. If it matches or crosses the spread (e.g., buying at the ask), it acts as a taker.
Q: Can I avoid taker fees completely?
You can minimize them by using only limit orders placed outside the current spread. However, this means giving up instant execution — a trade-off between cost savings and speed.
Q: Do all crypto exchanges use maker-taker fees?
Most major spot and derivatives exchanges do. However, some peer-to-peer (P2P) platforms or decentralized exchanges (DEXs) may use different models. Always check the fee policy.
Q: What happens if part of my order executes immediately?
You’ll pay taker fees on the executed portion and maker fees on any remaining amount that stays in the book. This partial execution is common with large orders.
Q: Can I lose money due to poor fee management?
Yes. Over time, consistently paying higher taker fees without justification can erode profits — especially for active traders. Optimizing order types is key to long-term success.
Final Thoughts: Optimize Your Trading Strategy
Understanding the difference between maker and taker fees empowers you to make smarter decisions in the crypto market. While saving on fees might seem minor per trade, over hundreds of transactions, those savings add up — especially for frequent traders.
By strategically placing limit orders to act as a maker, you can reduce costs and contribute positively to market health. Conversely, accepting taker fees makes sense when speed is essential — such as during fast-moving news events or breakout trades.
Always research an exchange’s fee structure, consider your trading style, and use tools that help you monitor order behavior. With the right approach, you can balance cost-efficiency with execution quality.
Core Keywords:
- Maker fees
- Taker fees
- Cryptocurrency trading
- Order book
- Limit order
- Market order
- Trading fees
- Liquidity