Coinbase, Exchanges

What Does Allow Taker or Post Only Mean on Coinbase?

When you place an order on Coinbase, you can choose between two types of orders: limit and market. A limit order lets you set the price you’re willing to pay or sell at, while a market order executes your order at the best available price.

If you want more control over the price you pay or sell at, you can use a limit order. When you place a limit order, you’re indicating the maximum price you’re willing to pay (if you’re buying) or the minimum price you’re willing to sell at (if you’re selling).

Your order will only execute at that price or better.

For example, let’s say the current market price for ETH is $100. You want to buy ETH, but only if the price doesn’t go higher than $105. So, you place a limit buy order for ETH at $105.

NOTE: Warning: Allow Taker or Post Only on Coinbase is a feature that enables customers to buy and sell cryptocurrency assets more quickly and easily. However, it is important to note that using these features may result in additional fees, and users should exercise caution when using this feature. Furthermore, Coinbase does not guarantee the accuracy of the information provided in this feature, and users should always double-check the prices of any cryptocurrency assets before committing to a trade.

If someone is selling ETH for $105 or less, your order will execute and you’ll get ETH. If the market price for ETH goes above $105 and no one is willing to sell ETH to you at $105 or less, your order will not execute.

A market order is an order to buy or sell an asset at the best available price. When you place a market buy order, Coinbase will attempt to buy the amount of asset you specified at the best available price.

This means that if there are many people trying to sell an asset, and not many people trying to buy it, your market buy order may fill partially (or not at all). Conversely, if there are many people trying to buy an asset and not as many people trying to sell it, your entire market buy order may fill immediately (or very close to immediately).

For example, let’s say there are 10 ETH available for sale at $100 each, and someone places a market buy order for 10 ETH. The entire order would fill immediately and that person would get 10 ETH for a total of $1,000.

Now let’s say there are 100 ETH available for sale at $100 each, and someone places a market buy order for 10 ETH. In this case, only 10 ETH would be bought immediately and the rest of theorder would be placed on the open market as a limit buy order at $100 per ETH.

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