Market makers create buy or sell orders that go on the order book, which aren’t executed immediately. For example, placing a limit order to sell 1 BTC when the price hits $50,000. These orders create liquidity for the market so that it’s easier for other traders to instantly buy or sell BTC when the condition is met. Traders that buy or sell instantly are called takers. In other words, takers fill the orders created by the makers.
- A limit Good Until Canceled (GTC) order can be traded as both a taker and maker order.
- Using a limit order does not guarantee that your order will be a maker order.
- If you want to make sure the order goes on the order book before it is filled, please select “Post only” when placing your order