Binance, Exchanges

What Is Taker in Binance?

Binance is a cryptocurrency exchange that provides a platform for trading various cryptocurrencies. Binance Coin (BNB) is the native currency of the Binance platform. Binance offers two types of accounts: Basic and Advanced. Basic accounts are designed for new users and have certain limits on withdrawals and trading activities.

NOTE: WARNING: Investing in cryptocurrency is extremely risky and speculative. Before investing in any cryptocurrency, you should thoroughly research the token you are interested in, including its purpose and team behind it. In particular, be aware that the Binance ‘Taker’ fee is a fee charged to market makers when they make trades that are filled immediately. Therefore, if you are considering investing in a cryptocurrency listed on Binance, be sure to understand the fees associated with that token and any other risks involved before making your investment decision.

Advanced accounts have no such limits. Taker is a term used on the Binance platform to refer to a user who places an order that is immediately matched with an existing order. Takers are charged a fee for their trades.

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