Watch out for enormous spreads

Since recently I am using crypto.com as a platform for depositing and trading crypto currencies, to eventually withdraw to my bank account. And I must be honest the app of crypto.com is very user friendly. Trading is very easy, and depositing fiat and withdrawing is very easy, at least here in Belgium.

But, there’s a catch, you could have guessed it!

The spread between buying and selling crypto currencies is enormous. For instance, the price of Dogecoin on the market was 0.088 USDT. But the market selling price on crypto.com was at that moment 0.0845. A huge difference, and the same counts for buying Dogecoin, which was at 0.0915 at that moment.

That is just an enormous spread, which makes it impossible to earn while trading. Even though the fees might be low, and there’s a loyalty program which pays out in CRO tokens. The spread of this platform is just over the top.

Which is the reason why I wont be using crypto.com anymore.

There are better alternatives like FXGT.com, YouHodler, Kraken or even Coinbase.

Choose your exit to Fiat wisely, so you don’t get robbed of hundreds of EUR or USD because of the immense spread!

Sincerely,

Pele23