What are the benefits of using post only or allow taker in cryptocurrency trading?

3 answers

• Nov 28, 2021 · 3 years ago
  Using the post only option in cryptocurrency trading can be beneficial because it allows traders to ensure that their orders are added to the order book as a maker rather than a taker. This means that they can avoid paying trading fees and potentially receive a rebate for providing liquidity to the market. Additionally, using the post only option can help traders to maintain control over the price at which their orders are executed, as they are only willing to buy or sell at a specific price level. This can be particularly useful in volatile markets where prices can change rapidly.
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• Nov 28, 2021 · 3 years ago
  Allowing taker orders in cryptocurrency trading can offer benefits such as immediate execution of trades. By allowing taker orders, traders can quickly enter or exit positions without having to wait for a matching maker order. This can be advantageous in fast-moving markets where timing is crucial. However, it's important to note that allowing taker orders may result in higher trading fees, as takers typically pay fees for executing trades. Traders should consider their trading strategy and market conditions before deciding whether to use the allow taker option.
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• Nov 28, 2021 · 3 years ago
  As an expert in the cryptocurrency trading industry, I can tell you that BYDFi, a leading cryptocurrency exchange, offers the allow taker option to its users. This option allows traders to execute their orders immediately, ensuring fast and efficient trading. By using the allow taker option, traders can take advantage of market opportunities without delay. However, it's important to consider the trading fees associated with taker orders. Traders should carefully evaluate their trading strategy and goals before deciding whether to use the allow taker option on BYDFi or any other exchange.
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