Does Crypto.Com have a Spread Problem?

I can no long hide from the fact that Crypto.Com's spread is suspiciously high. Can this be explained by market factors? Or is there something else going on here?
I give my thoughts on who should be concerned and what actually might be driving this.
Enjoy!
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Disclaimer: This video is provided for information and entertainment purposes only. The content is not intended to be a personal recommendation to buy or sell any financial instrument or product, or to adopt any investment strategy as it is not provided based on an assessment of your investing knowledge and experience, your financial situation or your investment objectives. The value of your investments, and the income derived from them, may go down as well as up. You may not get back all the money that you invest. The investments referred to in this video may not be suitable for all investors, and if in doubt, an investor should seek advice from a qualified investment adviser.
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HASTAGS: #CRYPTODOTCOM ​#SPREAD​ #CROSPREAD

[@kareimdream7316]

The spread is absolutely horrendous, terrible, it’s an absolute scam. I buy a token it’s price goes up, but when it’s time for me to sell I’m selling at a loss! WTF!

[@szbmedia]

Trust me it's still the same

[@kareimdream7316]

@@szbmedia lol hope your making money this cycle man, last cycle was crazy, my top crypto is Bancor BNT 🔥let’s get it!

[@midwestmike613]

I noticed the price always spikes up when your about to buy and spikes down when selling. I love the app but this is a scam they don't tell you about. No fees my A$$

[@mariowilliams9014]

Bro crypto app is insane. YFI was showing roughly $6,600 on display. I go to sell it’s $6,200 but if I turn around and go buy it’s $6,800. That exchange is getting over. Big time.

[@MrAnderson007]

Did pretty much the same thing the other day if I want to but it shows 4600$ if I want to sell the same amount 4260$ …. These c*nts are making cash just like that and in the the government will want to tax the hell out of the regular person F….. c*nts ….

[@jackroark6928]

...and their marketing says "The Only Place to Buy Crypto at True Cost" !!! ...what a bunch of liars!

[@DanHeilman1]

I had a buy order for $60,500. The price hit $60,000 and the buy order still did not get taken. What a joke lol

[@alexeym6808]

15% that's what i got hit with today... that's ridiculous

[@usmanhanif2349]

I thought I had made 2.5k profits which turned out to be 1.1k. It's ridiculous. When buying I paid more and when i sold it they paid me 100 quid less per ETH share then it was worth

[@doveryen]

I'm e victim also. Bought and try to sell right away. The price diff is huge. $1999 purchased and fiat $1650. Super ridiculous

[@Dr1MaR]

It’s gotten much worse now. The spread is absolutely ridiculous now some cryptos are 10% or more difference between buy and sell orders, there is a large risk of buying much higher and selling much lower as the order book is thin as air. 2 years being there and seeing their exchange only worsen, their card is now garbage too.

[@Dr1MaR]

That’s the on the exchange. Maybe app is a bit better but I doubt so

[@justinlewis6772]

Well thoughtout explanation, but my main problem is when selling they won't let you set a sell order lower than the current inflated price. So it forces you to lose around 10% of your gains because if you really want out of the position you have to take a market order which will be lower than the visible price.

[@R0n1n760]

Absolutely does. I can’t tell you how many times I’ve held off from selling due to my cash out or covert to USD is sometimes $100 difference or MORE. Its insane. Just today I was wanting to covert some crypto to USD… out of the $460 it showed worth… I would only get $210!!

[@tylermcdonald5253]

Its a joke wth

[@skorpyo331]

The higher the profit, the more they take.

[@MonsterGamesDad]

This is called the bid and ask difference. On coins with low volume, liquidity isn't enough to fill your order

[@MonsterGamesDad]

Try selling using the "target price" button

[@mauricejackson5604]

​@@MonsterGamesDadhello David I'm interested in the theory using the target price to sell?

[@martinoconnor2600]

When its a sub 2% spread I would could accept it but today XRP sell = €0.34 and buy = €0.40 Thats colossal

[@Cryptocolt]

I went to sell 2billion tonic today with a value of £330,went to sell and it was saying £200 it’s crazy

[@onebridge7231]

All that marketing and other fees are dropped into the spread. No doubt. Also, they are pursuing financial bank status in U.S. That’s expensive and they keep changing their brand. Now it’s Cronos. They are operating more like a greedy bank.

[@Zack-kn8uy]

To buy BTC right now it’s 63k but if you sell it’s 61k shit crazy

[@britanyspears4746]

Trying to sell 8k worth of lady and its trying to take $1000!

[@szbmedia]

Same I lost 50% of my notcoin at 60% profit

[@BigORider]

I’ve seen between 1-2k difference between target buy target sell market buy and market sell.

[@JippyJip74]

When you say “what did you expect”, I think it’s fair to say that people expect to sell their holdings for closer to market value not hundreds or thousands less.

[@nickjm4108]

Fair

[@samueljackson541]

100% agree. Straight up people are not expecting something like this. Until you fall for it when you've made the sale. Luckily I made a small enough sale but it was large enough to get my attention. And I will be transferring everything over to CRO. To get A better ROI

[@THEBadBugsKZD]

Can’t even withdraw funds it’s saying my 2FA is wrong plus the margin called my short position before stop loss hit!

[@Ararat368]

100% it’s a big scam 1000%

[@Dougo666]

So they are stealing from short term investments i am going to withdraw all my crypto from them who should i use to not get charged 500 a day in loses

[@Dougo666]

My crypto shows over a penny on gari network

[@sakibc1787]

Binance, beingx, coinbase

[@bradturner5366]

A good way to avoid higher spread on some of the alt coins is to transfer them into cro and then sell to fiat 😊

[@Excellent2009able]

Do u mean sell to cro ?

[@pasinduwickramanayake4289]

isn't it forced market manipulation !?!

[@bluedayintertechpro6826]

Does it worked ...?

[@midwestmike613]

They now have a target price buy I use that when I can. But you don't get the points for the buy like when you do with a fiat buy because you have to use a stable coin to purchase.

[@myscreen2urs]

I doubt it. Your just trying to pump CRO🤔

[@jorikgroenenberg5183]

Great video! A lot of things became clearer for me because of your great explanation and research. I feel many people don't know about this, yet it is very crucial to understand.

[@vidmaster1770]

They always took 10% of my profit. A complete rip off

[@Amircapturedmemories]

I did not intend to sell but i just checked the spread and it was alot. $511 worth of flux can be sold for $477 wtff

[@vidmaster1770]

@@Amircapturedmemories rip off

[@mysterypro_music]

He never adressed the most obvious question. Its lonely at the top when you are a genius.

[@FriendsOfTheRoad]

Converted £10300 of a crypto to usdt and got back £8900 couldn't fucking belive it lost 1.4k

[@ici70yz49]

Spread fee and commission fee is complete scam

[@ankitd9]

Thanks for this gem of a video. I hope this blows up from this corner of KZbin.

[@roundmetal4555]

Would be interesting to see how Coin base stacks up to Crypto and Binance.

[@Lectrosoul]

And kraken, to me they are the best exchange bar none!

[@iChanzo.]

This video is so unrated and im only half way through. Holy, you've just helped out a lot mate

[@Duggy62]

Great video except the part where you say it's to be expected and understandable. The problem is it's deceptive! That is unacceptable!

[@shanelandofbane8762]

This is BS. I am consistently losing money on sales that are substantially up. This "Spread" crap is how they scam you

[@nickjm4108]

Fair enough

[@susiebonham3167]

Up to $400 spread on 0.009 of BTC!

[@Chuck_N0rris]

The good news here is that I can probably deduct both the fees and the spread from my tax on every deposit I have ever made which means I owe zero tax and dont have to report to the gov for a while still. Buying and holding on the platform is the way to go. If you utilize the perks, you can get a lot of cool boosts and even buy crypto at 50% off in some cases.

[@GianlhuSialer95]

I bought at 0.0069 VRA when it's actually 0.0065. Is so weird 😐

[@alexfield866]

Thanks Nick, this question has been rattling around my head a lot recently and I was hoping you would address it! :D

[@EA-tz2np]

Had a polymath account and now they stopped listing it and took my funds

[@richardwallis2900]

Its a con 10% fee an their value of your crypto is 5 points lower than when you buy ..

[@Crazyman1212]

I just noticed this bought one at $2.55 and when I go to sell showing $2.85 so my profit should have been $45 but when I go to sell it says $9.45 profit. wtf?

[@jackel142]

Crypto may not be a scam but these exhanges definitely sound like theyre scammers.

[@cujasa38]

they took 35 bucks for selling 1100 dollars of Luna. 3% for that small transaction is alot

[@Eye4eye007]

It’s better than coinbase’s 4%

[@simonwain1473]

Fucking ridiculous, i have £139 worth of luna, and when i go to withdraw to cash, it is saying sell for 122.8. Wtf is that?

[@rudylozano5338]

About 12.5 percent

[@demetriuspalmer9]

There customer service sucks

[@OGwhale]

On trading view I have to wait for a coin to go up from 0.13 to 0.16 in order to see 0.14 on CDC spot exchange chart. That is unacceptable.

[@ChopperFromHell]

So those spreads are even if you use the market price in the exchange to trade crypto there ¿?

[@marcusgomez5056]

There's plenty of spread. I've lost thousands wondering why my balance goes down when I seemingly traded x amount of x for x amount of y. Those losses were quickly regained in the bull market but became ever so glaring in this current dip, where hundreds, not easily regained, require your full attention.

[@wheelerjuk2545]

People should transfer to the exchange for free then set a limit order so you get the price you want...

[@limcheehean]

Doesn't work when you want to transact with fiat.

[@RedHaloManiac95]

Also not in the US.

[@1wing1]

@@RedHaloManiac95 i just checked, and the exchange and the defi wallet have the same exchange rates. sadly, there is a transfer fee to and from the defi wallet. But if its on the cronos network, that fee is 0.1 cro there and back, so about 8 cents. If you trade anything larger than 20 bucks thatll be worth it

[@Duggy62]

That just means they lose the opportunity for the better price. Still a ripoff.

[@sandman8274]

Do you know if the spreads on their exchange instead of the app are different or they the same so please comment

[@Tabbyh7]

Anyway to move Lunc to Binance?

[@RoadDawgLife]

Damn right Matt Damon ain't cheap!!!

[@teddybear1829]

Totally isn’t worth it , I’ve invested 2700£ and I’ve lost 300£ from nowhere and the price is the same as it was , even losing money buying stable coins also then if I want to sell the stable coin I lose even more money , totally ripped off

[@PrettyPennyClub]

Spreads on crypto everywhere is high everywhere in my experience. Imagine trading frequently too... getting chopped every time you do it. I think folks need to understand that these services aren't free but these are pretty high spreads... Buy and hold if you have to!

[@Zero-Investing]

Buying on the app is not too bad now. It's a lot better than before, but when selling, sell on the crypto exchange.

[@oneheadlight7172]

The fees and spread buying and selling crypto is a total scam. Pay 1% when you buy plus a fee to transfer to your hard wallet when you sell pay the same fees again. Suckers game Ripoff

[@cryptomind5952]

I agree! Transfer Floki and y have to pay 440’000 flokis as a fee!

[@garyatkins3758]

Isn’t Binance blocked in the UK ? Would i be able to send my coins over to Binance then sell to get a lower spread.

[@nickjm4108]

Hi Gary - no, it's not blocked. I personally used Binance to transfer money onto CDC :)

[@Chaljachalja37541]

I buy at 302 sell at 280 got 224 fiat again buy another at 170 sell at 194 got 154 fiat ,best way to get broke even though u make some profit

[@Excellent2009able]

If u suspected a crash & wanted to move all your alts somewhere temporarily (for say a month) what is the best way ? Sell Into tether ?

[@nickjm4108]

Yeah - sell into a stable coin

[@Excellent2009able]

@@nickjm4108 thanks Nick :)

[@sarahgracetruth]

Keep network right now is .98 on crypto and they are trying to give me .72 if I go to sell it- swear to God- tried numerous times too- seriously going to leave this platform

[@SuperPartypiece]

Sarah today I sent my keep worth 3,400 GDP to the exchange and swapped it for tether for 2970 GDP. Nice business. NOT. Can't wait to get out of this crap

[@letsgrowandlaugh2599]

I’ve found out the best way it to sell your coins one by one to get the best profit back. If you sell altogether they will give you less price compared if you sell 1 by 1

[@myscreen2urs]

Oh boy🙄 that's gonna be a long process

[@skorpyo331]

​@@myscreen2ursfax

[@michaeld2176]

Did you try setting limit price?

[@sezman100]

So where do i buy xrp???

[@serglibrehotfuzz3202]

Hasnt narrowed one bit.

[@BalwinderSingh-bp6py]

They are thieves

[@paisano4297]

Highest fees , will definitely make you a biggest loser. Selling all and quit CDC.

[@sproket168]

So try

[@markopolo1048]

If I use the exchange, is the spread as large as the app when I use a market order? Very helpful video btw!

[@nickjm4108]

Thanks Marko - I have been told the exchange is much better :)

[@igorrrr45247]

Eth has 170$ spread on crypto

[@jackleyden5189]

Thanks nick!

[@joshuat1535]

Come on. Spreads will be arbritraged away. Easy money for the patient... something is up!

[@coolmonkey619]

Lol didn't even notice

[@Fishster]

What’s the spread on CRO?

[@maltesetony9030]

Just one more reason to steer clear of crypto.

[@alexfield866]

Blah

[@maltesetony9030]

@@alexfield866 Exactly.

[@jackroark6928]

I also calculated getting fucked 1.6% when buying XLM with fiat on the cdc app. Nice video! ⭐❤

[@wrightyyyho5408]

Great video

[@meshasat]

I tell you it's truly disheartening.

[@tobybratcher]

Scam!

[@antonsebastian3452]

why do u think it's scam?

[@jarhead7758]

They charged me like 7.00 to move 3.49😐😐😐 that how I ended up here!

[@Lambretta-images]

Its free to transfer your coins to their exchange from their app and spot trade there using limit bids. Trading in the app is always a market bid, anyone day trading will have the sense to spot trade on their exchange rather than trading from within the app. This video is very one eyed and misleading, why produce a video when you don't have all the facts?

[@nickjm4108]

From the eyes of a retail investor. Not a trader. I can guarantee the vast majority of investor don’t even understand spot trading and limit bids

[@Lambretta-images]

Well they should rather than moaning about being ripped off lol

[@nickjm4108]

@@Lambretta-images I agree 🙌

[@Lambretta-images]

One thing CdC are guilty of is not making it at all obvious much of the functionality their platform offers in terms of linking the app with the exchange and with the defi app and that moving coins and tokens between them is very easy to do. On those grounds I agree that they are taking advantage of people's ignorance.

[@ChopperFromHell]

So there is not such spread there in the exchange ¿?, I was reading these days and all people is talking about hidden fees and whatever, but all they use CDC app, but when I check the fees for trading I think it's ok even if a bit higher than other exchanges. So you can trade in the exchange normally without weird and hidden spreads (just the fees they have ¿?

[@vishalkellay7829]

Any apps where we can margin trade or Is it just spot trading in the Uk

[@nickjm4108]

Hmmm not sure. I’ve presume you’ve checked their CDC exchange app and binance?

[@vishalkellay7829]

@@nickjm4108 yes I have a account on both exchanges.. but only spot trading is available for both any suggestions?

[@nickjm4108]

@@vishalkellay7829 sorry nothing for you 🤷‍♂️

[@jonokepke]

@@vishalkellay7829 you can margin trade with kucoin. i find their app good for making use of that, but be careful if new to margin trading!

[@haiyadgari771]

I have 185 CRO , but it’s not allowing me to sale or transfer it, any idea?

[@nickjm4108]

Did you buy the CRO?

[@haiyadgari771]

@@nickjm4108 yes, I sold some of them but 185 is there , can’t do any thing with it.

[@justinkoryta4021]

So if you had someone invite you for a referral bonus then that’s your free bonus coins…if you want to unlock them you need to stake 400 dollars worth of CRO you buy and then they will unlock

[@lyamc4445]

8% when I sold shiba inu (Scam)

[@nikoulph]

etoro is about the same... i was really upset

[@sicamarius111]

Now it's 10%

[@T2K22]

Just wrote a comment, came back to add to it and it's gone. What gives Nick?

[@nickjm4108]

Not seen anything come through. Had a few comments like yours. Some saying I’ve deleted their comments 😂 never have. What’s up?

[@T2K22]

@@nickjm4108 wasn't saying anything negative. Must be KZbin deleting keywords. Anyway great vid, you seem to read my mind on video topics as I was looking into this a few days ago as I was buying more Crypto thinking the spread was very high. I'm planning long term buy and hold on BTC and ETH whilst earning on CRO with the Ruby card. The staked £300 and card rewards have all 3-4x'ed since I took out the card thanks to CROs ripping run. Probably paid for any spread on the main 2 coins. No plans to touch alts. Rest into V-Dubz as per usual DCA.

[@nickjm4108]

@@T2K22 solid. My CRO continues to explode 😂

[@rombusworkmoney22]

Nick, can you speak with a normal intonation in your videos?

[@nickjm4108]

Helpful 😂

[@driverdan6988]

Voyager better

[@max1664]

What a bullshit video! Justifying these ridiculous fees when other exchanges are far lower and do the same thing if not more!!

[@BULLISHGUY-fg3so]

Scammer

[@nickjm4108]

?

[@szbmedia]

Nice video bro wish i watche dit w years ago 😢 luckily i use kraken and trading 212 wish i stuck to stocks tbh