I'm playing around with their sandbox api and trying to figure out when a buy order will be rejected due to insufficient funds. It seems that market orders will be rejected only if you give the order funds greater than the amount of USD you have in your wallet. That seems straight forward enough. The case for limit orders seems a little bit more complicated. If I have $1000 in my wallet and I specify a buy order for 1 BTC for $1000 the order will be rejected due to insufficient funds. I'm guessing this is because I need money for any possible fees. However if the order goes on the order book as a maker order.

My question is do I need enough USD for possible fees regardless if the order becomes a maker or a taker order?

  • If you place a market buy order but there's not enough USD in your wallet to cover the order plus the fee, what happens with the fee? Do they just buy a little less BTC than you specified, so that there's enough USD left over to pay the fee?
    – BronzeAge
    May 2 at 20:14

From experimentation it seems like if you're placing a limit order you need enough USD in your account to cover any possible fees regardless if the order will become a maker or a taker. I'm going to mark this as the answer util someone corrects me.


As mdornfe1 pointed out, it has to do with fees, specifically maker's fee that seem to be around 0.7% on the sandbox (which does not match what their doc say...) Another option is to send the order as "post only" instead of "allow taker"

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