Lesson 3 - Commissions

Important: Exchanges charge a commission for each of your actions, so you need to be able to account for commission expenses to make a profit.

Reducing any commission expenses = increasing profit from each round; the ability to work with a lower profit percentage per round and thereby increase the number of rounds.

Types of commissions and what they are charged for:

1. Taker – someone who immediately buys/sells at the price of an order placed by someone else. Without placing an order and without any waiting.

Here’s an example: if you buy bitcoins at the price of 17453.83, I will buy part of the bitcoins from the orders in the red order book. In this case, I will be a taker, but only for the part of the bitcoins that I buy from the order book.