ChainEX maker fees hit 0%!
Firstly, what is a “maker”?
A “maker” provides liquidity for the order book (by placing an order that may be matched in the future, this “makes” the marketplace; like products on a store shelf).
You become a “maker” when you place an order and it does not trade immediately, so your order stays in the order book and waits for someone else to fill/match with it later.
What is a “taker”?
A “taker” consumes the book liquidity by ‘taking’ an order from the order book (taking away inventory from the store).
The “taker” is someone who decides to place an order that is instantly matched with an existing order on the order book.
Trades from Market orders are always Takers, as Market orders can never go on the order book.
Interesting… What are maker and taker fees?
The chief aim of maker-taker fees is to stimulate trading activity within an exchange. As mentioned, there are two types of orders — each with its own fee structure. These are maker (when trade adds to the platform’s liquidity) and taker orders (when traders take out the liquidity from the platform).
Now, the fun part ?
What are the benefits of low maker fees?
Without further ado, let’s take a look at a few advantages that maker fees have for traders:
1. Helps the trading platform keep their liquidity and, through them, the stability of the market.
2. Many platforms design different levels of maker/taker fees according to the volume traded.
3. Maker fees are usually very low or even have reimbursements for traders, in the case of ChainEX however, maker fees are non-existent ?
But wait… ChainEX offers more than just low maker fees?
Minimum trading day volume lowered
ChainEX has lowered its minimum 30-day trading volume to earn referral rewards to 0.05 BTC ?
Didn’t know ChainEX has a referral programme? Read our article on it