Crypto Trading Fees: What You Need to Know
Trading crypto isn’t free.
Whenever you buy or sell cryptocurrencies on a centralized exchange (CEX), you’ll be charged trading fees.
It’s important to understand the different types of fees and how they work—especially if you’re actively trading.
Two Types of Fees: Maker vs. Taker
Most exchanges use what’s called a “maker-taker” fee model. This model charges different fees depending on the type of order you place:
- Maker Fees (usually lower)
- Taker Fees (usually higher)
Your fee rate is also influenced by your 30-day trading volume—the more you trade, the lower your fees (as a percentage).
What is a “Maker”?
A maker is someone who adds liquidity to the market by placing an order that doesn’t get filled right away. Instead, it stays on the order book, waiting for someone to match it.
For example:
- You place a limit order to buy BTC at $30,000 while it’s currently trading at $31,000.
- Your order sits on the book until the price drops to your level.
- This adds liquidity and helps “make” the market.
Because of that, you’re charged a maker fee, which is typically lower.
Summary:
- Maker = Order not filled immediately
- Adds liquidity = Lower fee
What is a “Taker”?
A taker removes liquidity by placing an order that gets matched immediately with an existing order.
For example:
- You place a market order to buy BTC at the current price of $31,000.
- Your order is filled right away using existing sell orders.
- You’re considered a “taker” and charged a taker fee, which is usually higher.
Summary:
- Taker = Order filled immediately
- Takes liquidity = Higher fee
Example: Taker Fee
- You want to buy 3 BTC at $30,000 each.
- You use a market order (filled immediately).
- The exchange charges a taker fee of 0.25%.
- Total trade value = $90,000
- Taker fee = $90,000 x 0.25% = $225
Example: Maker Fee
- You want to buy 100 BTC at $20,000 each.
- You place a limit order (resting order).
- BTC is currently trading at $30,000, so your order is not filled right away.
- The exchange charges a maker fee of 0.02%.
- Total trade value = $2,000,000
- Maker fee = $2,000,000 x 0.02% = $400
Even though this is a massive trade, your fee is much lower because you added liquidity to the market.
Maker vs. Taker Fee Summary
| Feature | Maker Order | Taker Order |
|---|---|---|
| Filled immediately? | No | Yes |
| Adds/removes liquidity? | Adds liquidity | Removes liquidity |
| Fee type | Lower “maker fee” | Higher “taker fee” |
| Order type example | Limit order | Market order |
Can You Be Both a Maker and a Taker?
Yes! If part of your order gets filled immediately and the rest sits on the order book, you’ll be charged both fees:
- The filled part = Taker fee
- The resting part (filled later) = Maker fee
For instance:
- You want to buy 2 BTC.
- 1 BTC is matched immediately (taker fee).
- The other 1 BTC waits and is matched later (maker fee).
Final Tips
- Use limit orders when possible to take advantage of lower maker fees.
- Maker orders might take longer to fill, especially in thin or quiet markets.
- Taker orders offer instant execution but at a higher cost.
In Summary:
- Makers “make the market” by adding orders—charged lower fees.
- Takers “take liquidity” by filling orders instantly—charged higher fees.
- Fee structure = reward for providing liquidity, cost for convenience.