In the context of cryptocurrency trading, a market taker refers to an individual or entity that executes trades by accepting existing buy or sell orders already present in the market order book. They "take" liquidity from the market by accepting the current offers available. Market takers aim to have their orders filled immediately and are willing to pay the prevailing market price.

Market takers provide liquidity to the market by consuming existing orders. They create market movement by initiating trades and can contribute to price fluctuations. Market takers typically have a specific trading strategy in mind and seek to execute their trades quickly.

Market takers are contrasted with market makers. While market takers accept existing orders, market makers provide liquidity to the market by placing their own buy and sell orders at specified prices. Market makers are willing to wait for their orders to be filled and earn a profit through the bid-ask spread.

Both market takers and market makers play vital roles in the liquidity and efficiency of cryptocurrency markets, ensuring that there are opportunities for buying and selling assets at any given time.