On the “Buy” and “Sell” column at Indodax.com, you will see terms like “Maker”, “Taker”, and “Stop Order” just like this:
‘Maker’ is a Indodax member just like you who sell and or buy Bitcoin with their own price, or in another words using the ‘Limit’ method. Let’s say the current Bitcoin price is 5.000.000 IDR/BTC. You want to buy about 100.000 IDR at the price 4.000.000/BTC by entering it in the ‘Buy Bitcoin’ box. When you click on the ‘BUY BITCOIN’, your buy order will be on pending until the bitcoin price fall to 4.000.000 IDR/BTC just like what you want before. The pending order will be recorded in the Order Book, with that, you’ve become a market maker. The point is, to be a market maker, you just need to buy on the lower price from the lowest price in the sell market, and sell at a higher price from the highest price in the buy market.
The benefit you get when you become a market maker is that you don’t have pay for the transaction fee (0% fee) for your buy/sell order, and you can determine your own sell or buy price. but, the downside is, you must wait until the bitcoin price move towards your determined price.
‘Taker’ or Instant Market is Indodax member that buy or sell using the price that has been listed on the order book. the member that become a market taker , usually are the member that used ‘Market (Instant)’ method. The benefit you get when you become a market taker is you can buy/sell bitcoins instantly, without the need to wait your order being fulfilled, because you just buy/sell from the price list that already been created by the market maker. But you will be charged 0.3% (tax included) from your transaction for the transaction fee.
The Stop Order* feature can help you with Stop Loss and Take Profit method according to your trading strategy. With this Stop Order* feature, you can trade without having to worry when crypto asset price drop or raise when you are not online on Indodax website. Please note that this feature currently only available on markets BTC, ACT, AOA, BCH, TRX, USDT, DOGE, ETH, XRP, XLM, WAVES. Your Buy and Sell transaction will only be executed if the last price reach your own price (Stop Price) and the order will be executed on instant market.*All transactions using the Stop Order method will be executed using the Instant Market method