On the “Buy” and “Sell” columns at Indodax.com, you will see terms like “Maker” and “Taker”, just like this:
What is Market Maker (Limit)?
"Maker" is an Indodax member like you who sells or buys Bitcoin using their own specified price, or in other words, utilizes the "Limit" method. Let's say the current price of Bitcoin is Rp 5,000,000/BTC. You intend to purchase Bitcoin worth Rp 100,000 at a rate of Rp 4,000,000/BTC by filling out the "Buy Bitcoin" column. Upon clicking the "Buy Bitcoin" button, your order will be held until the BTC price drops to Rp 4,000,000 as you desire. This pending order will be listed in the Order Book, thus classifying you as a market maker. Essentially, to be a market maker, you need to make a purchase at a price lower than the lowest selling market price, or a sale at a price higher than the highest buying market price.
The transaction fee for a market maker buying is 0.21%, and for selling, it's 0.20% of the transaction amount. The downside is that you have to wait for a while until the Bitcoin price moves to touch the desired price point.
What is Market Taker (Instant)?
"Taker" or Instant Market is the buying or selling process with a relatively shorter waiting time, without having to wait for your order to be executed since it directly utilizes the prices set by market makers. This method incurs a transaction fee of 0.31% for buying and 0.30% for selling, based on the transaction amount. Here is the Instant Market Method on Indodax:
Instant Market Buy Method
Enter the amount of Bitcoin you want to purchase, then press the "Buy Bitcoin" button.
Instant Market Sell Method
Enter the amount of Bitcoin you want to sell, then press the “Sell Bitcoin” button.