The Global Cryptocurrency Exchange.
CoinEx GlobalLayer 0 vs Layer 1 vs Layer 2: All You Need to Know
The blockchain industry has expanded to such a large scale that each new year brings many fresh developments and innovations. There are many distinct types of blockchain networks and architectures already in use, and the number of these systems is expanding daily. In the upcoming sections, we will discuss the various layers of these blockchains can be classified into. Layer 0 In theory, Layer 0 is supposed to be a layer responsible for the execution of protocols and offers the underlying arch...
CoinEx GlobalShanghai Upgrade Approaching: Ethereum Protocols You Should Know
Ethereum is gearing up for its next major update, the Shanghai upgrade, scheduled to take place on April 12, 2023. The upgrade is a crucial one following the Merge last September, and it is expected to have a significant impact on the network’s more than 500,000 validators, according to data from BeaconScan, as of this March.Source: BeaconScan Shanghai Upgrade Explained The Shanghai upgrade is a planned hard fork of the Ethereum protocol, as well as one of the vital additional steps between t...
CoinEx GlobalBenefits of CoinEx Over other exchanges?
CoinEx is a cryptocurrency exchange that has been operating since 2017. It offers a wide range of services and features, making it one of the best choices for those looking to trade cryptocurrencies. The most attractive aspect of CoinEx is its user-friendly interface and advanced trading tools, making it easier to trade than other exchanges. CoinEx supports multiple trading pairs so traders can gain access to global markets with ease. It also offers lower transaction fees that are often much ...
CoinEx GlobalLayer 0 vs Layer 1 vs Layer 2: All You Need to Know
The blockchain industry has expanded to such a large scale that each new year brings many fresh developments and innovations. There are many distinct types of blockchain networks and architectures already in use, and the number of these systems is expanding daily. In the upcoming sections, we will discuss the various layers of these blockchains can be classified into. Layer 0 In theory, Layer 0 is supposed to be a layer responsible for the execution of protocols and offers the underlying arch...
CoinEx GlobalShanghai Upgrade Approaching: Ethereum Protocols You Should Know
Ethereum is gearing up for its next major update, the Shanghai upgrade, scheduled to take place on April 12, 2023. The upgrade is a crucial one following the Merge last September, and it is expected to have a significant impact on the network’s more than 500,000 validators, according to data from BeaconScan, as of this March.Source: BeaconScan Shanghai Upgrade Explained The Shanghai upgrade is a planned hard fork of the Ethereum protocol, as well as one of the vital additional steps between t...
CoinEx GlobalBenefits of CoinEx Over other exchanges?
CoinEx is a cryptocurrency exchange that has been operating since 2017. It offers a wide range of services and features, making it one of the best choices for those looking to trade cryptocurrencies. The most attractive aspect of CoinEx is its user-friendly interface and advanced trading tools, making it easier to trade than other exchanges. CoinEx supports multiple trading pairs so traders can gain access to global markets with ease. It also offers lower transaction fees that are often much ...
The Global Cryptocurrency Exchange.
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Many newcomers to the crypto world must have heard of the two words: Maker and Taker, yet without much knowledge about the two. Still, some newbies find themselves confused about the conversion between Maker and Taker. Here is one of the most common questions among them: I was a Maker when I placed the order, but how come I ended up being a Taker when the order was finally concluded?
So what is a Maker and what is a Taker? How to be a Maker and a Taker? Let’s go through it step by step.
Setting a limit order (Maker) is providing liquidity. Specifically, the user places an order with a certain quantity and price, but there is no matching order in the market. As a result, the order will always be in the market till someone concludes it. In this process, the Maker provides liquidity for the entire market.
Simply put, Makers are those who are willing to wait to buy or sell cryptos at a certain price. They provide the depth for the market. In their case, it is a passive transaction. Setting a limit order refers to buying or selling cryptos at the specified price, and the transaction can be executed when the market price fluctuates to the price set by the user.
So how to set a limit order (Maker)? Let’s do it step by step:
Here we take buying/placing CET/USDT limit order (Maker) in the spot market as an example：
1.Suppose the latest deal price for CET/USDT is 0.076502 USDT, and the selling price in the current 1st place is 0.076502 USDT, as shown in the figure;
2.Choose [Limit] and [Always Valid].
3.Set [Price] and [Amount]. Suppose we buy 500 CET when the price fluctuates to 0.076430 USDT;
4.Confirm [Est. Execution Value], and click [Buy CET].
Many newcomers to the crypto world must have heard of the two words: Maker and Taker, yet without much knowledge about the two. Still, some newbies find themselves confused about the conversion between Maker and Taker. Here is one of the most common questions among them: I was a Maker when I placed the order, but how come I ended up being a Taker when the order was finally concluded?
So what is a Maker and what is a Taker? How to be a Maker and a Taker? Let’s go through it step by step.
Setting a limit order (Maker) is providing liquidity. Specifically, the user places an order with a certain quantity and price, but there is no matching order in the market. As a result, the order will always be in the market till someone concludes it. In this process, the Maker provides liquidity for the entire market.
Simply put, Makers are those who are willing to wait to buy or sell cryptos at a certain price. They provide the depth for the market. In their case, it is a passive transaction. Setting a limit order refers to buying or selling cryptos at the specified price, and the transaction can be executed when the market price fluctuates to the price set by the user.
So how to set a limit order (Maker)? Let’s do it step by step:
Here we take buying/placing CET/USDT limit order (Maker) in the spot market as an example：
1.Suppose the latest deal price for CET/USDT is 0.076502 USDT, and the selling price in the current 1st place is 0.076502 USDT, as shown in the figure;
2.Choose [Limit] and [Always Valid].
3.Set [Price] and [Amount]. Suppose we buy 500 CET when the price fluctuates to 0.076430 USDT;
4.Confirm [Est. Execution Value], and click [Buy CET].
Setting a limit order (Taker) is taking orders, and a Taker is also called a liquidity consumer. In this process, after checking the prices of existing orders in the market of the exchange, the user proactively places an order with a certain quantity and immediately concludes the existing order. Simply put, the user places an order that is executed immediately with the Maker in the queue, and take away liquidity from the market. In this case, it is a proactive transaction.
How to set a limit order (Taker)? Here is an example:
Still, we take buying/placing CET/USDT limit order (Taker) in the spot market as an example：
1.Suppose the latest deal price for CET/USDT is 0.075433 USDT, and the selling price in the current 1st place is 0.075507 USDT, as shown in the figure;
2.Choose [Limit] and [Always Valid];
3.Set [Price] and [Amount]. The former is selling price in the current 1st place, which is 0.075507 USDT, and the latter is 99 CET;
4.Confirm [Est. Execution Value], and click [Buy CET];
After being submitted successfully, the order will be executed at the price of 0.075507 USDT immediately, since the amount you want to buy is less than the selling amount of the seller in the current 1st place. The same goes for a limit order (Taker) to sell.
To sum up, the Maker/Taker mechanism encourages users to set a limit order early, in a bid to boost crypto trading and keep the price stable. On CoinEx, the higher the VIP level, the lower the Maker and Taker fees. It is noteworthy that whether an order is a Maker or a Taker is not decided by the status of the order when it is set, but the status when it is executed. If there are not enough matching orders in the market, you are a Maker; but if a matching order appears and the order is executed the moment it is confirmed and submitted, then you turn into a Taker from a Maker.
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Medium: https://www.medium.com/@coinex/
Telegram: https://t.me/CoinExOfficialENG
Setting a limit order (Taker) is taking orders, and a Taker is also called a liquidity consumer. In this process, after checking the prices of existing orders in the market of the exchange, the user proactively places an order with a certain quantity and immediately concludes the existing order. Simply put, the user places an order that is executed immediately with the Maker in the queue, and take away liquidity from the market. In this case, it is a proactive transaction.
How to set a limit order (Taker)? Here is an example:
Still, we take buying/placing CET/USDT limit order (Taker) in the spot market as an example：
1.Suppose the latest deal price for CET/USDT is 0.075433 USDT, and the selling price in the current 1st place is 0.075507 USDT, as shown in the figure;
2.Choose [Limit] and [Always Valid];
3.Set [Price] and [Amount]. The former is selling price in the current 1st place, which is 0.075507 USDT, and the latter is 99 CET;
4.Confirm [Est. Execution Value], and click [Buy CET];
After being submitted successfully, the order will be executed at the price of 0.075507 USDT immediately, since the amount you want to buy is less than the selling amount of the seller in the current 1st place. The same goes for a limit order (Taker) to sell.
To sum up, the Maker/Taker mechanism encourages users to set a limit order early, in a bid to boost crypto trading and keep the price stable. On CoinEx, the higher the VIP level, the lower the Maker and Taker fees. It is noteworthy that whether an order is a Maker or a Taker is not decided by the status of the order when it is set, but the status when it is executed. If there are not enough matching orders in the market, you are a Maker; but if a matching order appears and the order is executed the moment it is confirmed and submitted, then you turn into a Taker from a Maker.
Visit us
Twitter: https://www.twitter.com/coinexcom/
Medium: https://www.medium.com/@coinex/
Telegram: https://t.me/CoinExOfficialENG
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