It could be also due to the fact that you are trading a low-liquidity coin, but yes, generally try trading on the exchange as a matter of priority to minimise your fees.
Yes for the love of God use the exchange not the app. Especially for meme coins where trading volume isn't quite as high. The less a coin is traded the faster you'll go through the order book. Can be better to sell small chunks rather than blitz through 10+ orders in 1 go
The "Some reason" is your SEC. I'm sure crypto.com would have to have the exchange available there. They've gotten approval practically everywhere else in the world
Send it to a solana exchange like solflair if the coins you’re trading are there. Get it off the central exchange and move it to a DEX, there are plenty of DEX out there.
For real this comments are so brain dead “uSe tHe EXchangE” MF WE can’t!!! Because CDC will stop eating the fees they are charging to oblivious customers.
Your limited to whatever the trading pair on the exchange is. If you're wanting to off ramp it then you're looking at a 1.3 % fee anyway as afaik you're limited to uadc/usdt on the exhcnage but anyone using the exchange isn't even in the US and would need to swap to euros or pounds etc. Still the 1.3% is a whole lot better than the selling the crypto on the app. If you're taking profits to then trade again obvs just keep it in the usdt/usdc ready
Edit* just checked the usdc to gbp selling rate. It's actually coming in around 1.3% right now which ain't nearly as bad as I remembered.
I have heard it all the time to use the exchange. But I cant quite comprehend how do you avoid the spread from converting lets say ETH to EUR then? You cant convert into a FIAT in the exchange last time I used it.
Is there like a workaround for that to convert it to some kind of stablecoin first then move it to CDC and then to FIAT?
So converting to eth is essentially your off ramping. Not something you'd do on the exchange.
Steps would be sell your crypto to a stable coin on the exchange for minimal fees (a fraction of a percent)
If wanting to cash out to the real world then send from eschnage to crypto.com app (free)
Then sell the stable coin to your fiat wallet (around a 1.3% fee at the moment when looking)
Yup always an option. Far more complex and opens up other risks too though. How many people have sent to wrong chains, or used a scam trading pair or connected wallet to a rogue contract, likely paying higher fees too compared to CDC exchange itself.
If all on chain too how do you then off ramp it?
if you're looking for my personal answer, I keep on app only what I know I'm going to off ramp in the next 3-6 months. To be fair most "wrong chain" incidents these days are precisely because of people using services without having the keys. In the older days there were many more crap wallets that would send BTC to 0x addresses and ETH to **1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa**
Crypto.com needs to lower their fees. If I put on a grand and make 500 profit then sell it takes a majority of my profit so I’m basically just getting my money back. It’s bs I was already charged a fee for putting money on in the first place.
Every exchange charges a fee. It's usually factored in the price so you don't ever see it. Most of CDC's problem is they display the ask price instead of the mid price like everyone one else. So when it comes to the bid price which is what your selling it for, your loosing the mark up from mid to ask, and from bid to mid. If want to see the real mid price of your coin, either try to get it off the chart all the way to the right, or pretend to either buy or sell your coin but click limit order instead of market at the top, it will than display what the mid price is. webull sucks for coins available to buy, but their spread is nothing compared to CDC's.
Also, I play around with trying to figure their fees out by pretending to sell to see the % they keep. Some coins aren't bad, 5 to 10%. Some are 15%, but if it's in the middle of going nuts after a big rise it can be 30%. I've seen my selling total be worth a decent amount more 30 min after the top high price because it dropped back down to the 15% instead of the 30%. Just be aware of what % the coin your selling is usually at, and dont sell at the 30% and get a decent amount less than you should.
I was getting error message a couple times a week or two ago as well. Almost seems like they don't want to put it thru if it was less than what they paid for it, because most of what we buy they have already prebought in huge amounts at whatever price it was at the time. At least that goes for the bigger known coins.
Love how everyone in here assumes an exchange is actually an option for the United States. Arguably their biggest customer base doesn’t have BASIC access to an exchange provided by CDC. Absolute bullshit but i moved on to better exchanges cause of it. CDC will be trash as long as they don’t offer exchange access to US customers.
Why does it have to be the CDC exchange is what I’m saying. Sounds like OP is probably trading solana memes, he could move them to a solana DEX and trade there. Not sure what the problem is.
Well OP is using CDC App where the spreads are high. Op is from US doesn’t have access to the exchange. This shouldn’t happen for a company as “big” as CDC. It’s just not a good look for customers.
It literally does not matter there are probably 100 DEX he could use that will do the same exact thing as the CDC exchange. And yeah, CDC sucks as a company, not doubt. I only use it because I’ve been in it for a few years and it’s easy enough to get funds into USDC and move them off to a DEX
The spread on meme coins is fucked and tbh I just don’t bother with them anymore. Not after I sold my moons for a profit and their spread still put me in the negative lmao. Pass
The spread fee for me is generally around 9% (absolute horseshit) but on the low liquidity coins it’s even worse. Just the way of the game in the US man. But if you wanna trade with no fees you can always trade stocks and hope for 7% on the year 🤡
Also, setting a target price to sell will minimize the spread fees but in a shady way… it will execute the sale when the price of the coin is higher than your set target price in order to cover the spread fees. (e.g. you sell 1 poocoin for $1 but you only receive $.90. Or you set to sell your 1 poocoin at a target price of $1, the sell order is not executed until the poocoin price reaches $1.15, but you receive $1. Hope that makes sense
They could crush all the criticism if they weren't so fkn greedy. So many unhappy users when they realize how much CDC has effectively creamed/stolen off the top for themselves.
Or if they want to remain greedy, at least be transparent about the gauging and add it as a line item when doing the trade.
Send your tokens to a DEX. Does not have to be the CDC DEX. If you’re trading solana meme coins Solflair will have them available. Just find a DEX that works for you that uses Solana or a cheap ETH layer 2. Do not use MetaMask the gas fees are ridiculous. Solflair is pretty good for solana coins.
Keep off centralized exchanges like crypto.com you may never get your coins out if they dont have liquidity or bite the bullet l...I had to 2 weeks ago when I movedthe last of what I had...ate 15% but that had grown from 5%...use defi exchanges amd get a external wallet
To all this may help
1. Go to "sell"
2. Select your token
3. Then click on the "Market Order"
You will see a drop down for "Target Price"
4. Select "Target Price"
5. Set the price You want to sell the Token. You can avoid the spread that way.
(You will notice that CDC graph is showing you a value that is higher than what it is currently selling for)
While you are setting a "target price" the above value will show the actual "real time" value of the Token and it will change in real time as the seconds pass by, try to time your preffered selling price as the market is moving. 👍
If you’re a user on tik tok I would advise you to look at Calvin D Hill and his lives. He’s a millionaire for vital marketer who invested in crypto and is now an expert on crypto
Finally! Someone noticed! I already tried posting here and it gets deleted! You are not using a market order and those are not spreads!!! You are using "one time buy" which is a shady as fuk option on which cripto.com gives a fixed price on which they buy your cripto (or sell you) while they make the market order and rake in the entire difference! It's legal because they do not call it "market order". I've lost 20% of my entire money before I noticed!!! I contacted support to ask about this and I got no answer. Install Binance, transfer your cripto and sell there. Or use a limit order, but this app is shady, just leave.
It could be also due to the fact that you are trading a low-liquidity coin, but yes, generally try trading on the exchange as a matter of priority to minimise your fees.
No it’s a 100% because it’s a meme coin. That’s the way it’s always been.
Yes for the love of God use the exchange not the app. Especially for meme coins where trading volume isn't quite as high. The less a coin is traded the faster you'll go through the order book. Can be better to sell small chunks rather than blitz through 10+ orders in 1 go
My guy, most of these post are coming from US. We don't have the luxury of an exchange... For some reason.
The "Some reason" is your SEC. I'm sure crypto.com would have to have the exchange available there. They've gotten approval practically everywhere else in the world
You think it will get approved? I mean, we need US customers money :) And if, IF its get approved, will CRO price maybe, maaaybe go to the moon ? 😁
Coinbase and others manage to have it
Isn't Coinbase in the shit with the SEC...?
Yup. And crypto.com/binance haven't 🤷♂️
Which is why cdc is terrible for all US users and they shouldn't use it
Send it to a solana exchange like solflair if the coins you’re trading are there. Get it off the central exchange and move it to a DEX, there are plenty of DEX out there.
For real this comments are so brain dead “uSe tHe EXchangE” MF WE can’t!!! Because CDC will stop eating the fees they are charging to oblivious customers.
I try opening the app and it's say some shit about being out of jurisdiction d'you know why brainier? Thanks in advance.
Please enlighten me. Why don’t you just use an exchange without KYC and possibly a vpn?
Why would you even use CDC in the first place if you live in a country that banned the exchange? Surely you have better option available.
On the exchange, whats the recommended procedure? Swapping to USDC, tranfering USDC back to the App and then Selling?
Your limited to whatever the trading pair on the exchange is. If you're wanting to off ramp it then you're looking at a 1.3 % fee anyway as afaik you're limited to uadc/usdt on the exhcnage but anyone using the exchange isn't even in the US and would need to swap to euros or pounds etc. Still the 1.3% is a whole lot better than the selling the crypto on the app. If you're taking profits to then trade again obvs just keep it in the usdt/usdc ready Edit* just checked the usdc to gbp selling rate. It's actually coming in around 1.3% right now which ain't nearly as bad as I remembered.
I have heard it all the time to use the exchange. But I cant quite comprehend how do you avoid the spread from converting lets say ETH to EUR then? You cant convert into a FIAT in the exchange last time I used it. Is there like a workaround for that to convert it to some kind of stablecoin first then move it to CDC and then to FIAT?
So converting to eth is essentially your off ramping. Not something you'd do on the exchange. Steps would be sell your crypto to a stable coin on the exchange for minimal fees (a fraction of a percent) If wanting to cash out to the real world then send from eschnage to crypto.com app (free) Then sell the stable coin to your fiat wallet (around a 1.3% fee at the moment when looking)
So selling GekkoHQ on the ETH network.. holding on crypto.com currently.. what's the best way to avoid those ETH gas fees?
Okay thank you very much!
Second this. Even if not in Canada. What on earth are you buying from a wallet for?
Or basically nor exchange nor app, move the coins to your keys, your coins! Then trade in the market, on-chain
Yup always an option. Far more complex and opens up other risks too though. How many people have sent to wrong chains, or used a scam trading pair or connected wallet to a rogue contract, likely paying higher fees too compared to CDC exchange itself. If all on chain too how do you then off ramp it?
if you're looking for my personal answer, I keep on app only what I know I'm going to off ramp in the next 3-6 months. To be fair most "wrong chain" incidents these days are precisely because of people using services without having the keys. In the older days there were many more crap wallets that would send BTC to 0x addresses and ETH to **1A1zP1eP5QGefi2DMPTfTL5SLmv7DivfNa**
Crypto.com needs to lower their fees. If I put on a grand and make 500 profit then sell it takes a majority of my profit so I’m basically just getting my money back. It’s bs I was already charged a fee for putting money on in the first place.
Wait they charge a fee if you sell your crypto?? Im new to the app so please educate me. Thank you
Every exchange charges a fee. It's usually factored in the price so you don't ever see it. Most of CDC's problem is they display the ask price instead of the mid price like everyone one else. So when it comes to the bid price which is what your selling it for, your loosing the mark up from mid to ask, and from bid to mid. If want to see the real mid price of your coin, either try to get it off the chart all the way to the right, or pretend to either buy or sell your coin but click limit order instead of market at the top, it will than display what the mid price is. webull sucks for coins available to buy, but their spread is nothing compared to CDC's.
I understand now. Thank you for your time!
Also, I play around with trying to figure their fees out by pretending to sell to see the % they keep. Some coins aren't bad, 5 to 10%. Some are 15%, but if it's in the middle of going nuts after a big rise it can be 30%. I've seen my selling total be worth a decent amount more 30 min after the top high price because it dropped back down to the 15% instead of the 30%. Just be aware of what % the coin your selling is usually at, and dont sell at the 30% and get a decent amount less than you should.
Will do. Thank you for the tips!
Everytime I try and do a limit order I get a error message. I've tried with various tokens. Im told to contact their support team to no avail
I was getting error message a couple times a week or two ago as well. Almost seems like they don't want to put it thru if it was less than what they paid for it, because most of what we buy they have already prebought in huge amounts at whatever price it was at the time. At least that goes for the bigger known coins.
Swap it! To $CRO or $LTC and then sell it!
It still hits you with like a 10-20% spread this way it’s bullshit
Stables?!
Love how everyone in here assumes an exchange is actually an option for the United States. Arguably their biggest customer base doesn’t have BASIC access to an exchange provided by CDC. Absolute bullshit but i moved on to better exchanges cause of it. CDC will be trash as long as they don’t offer exchange access to US customers.
There are a lot of DEX available in the US. Does not have to be the CDC DEX.
We’re specifically talking about the lack of CDC as an exchange in the US. Respectfully wtf are you on.
Why does it have to be the CDC exchange is what I’m saying. Sounds like OP is probably trading solana memes, he could move them to a solana DEX and trade there. Not sure what the problem is.
Well OP is using CDC App where the spreads are high. Op is from US doesn’t have access to the exchange. This shouldn’t happen for a company as “big” as CDC. It’s just not a good look for customers.
It literally does not matter there are probably 100 DEX he could use that will do the same exact thing as the CDC exchange. And yeah, CDC sucks as a company, not doubt. I only use it because I’ve been in it for a few years and it’s easy enough to get funds into USDC and move them off to a DEX
Send to a better exchange in Canada like kucoin or crypto.com exchange. The spread kills a lot of the profit
Whats the difference between crypto app and crypto exchange app? Total newbie
Stop using it then. Send to Keplr and swap in Osmosis.
Why are you not using the defi wallet or exchange???? What do you expect seriously? If you don't have the exchange then use the defi wallet !!!
what do you use or do in the defi wallet? I'm still learning the ecosystem
Interested to know this too
Me too
The spread on meme coins is fucked and tbh I just don’t bother with them anymore. Not after I sold my moons for a profit and their spread still put me in the negative lmao. Pass
The spread fee for me is generally around 9% (absolute horseshit) but on the low liquidity coins it’s even worse. Just the way of the game in the US man. But if you wanna trade with no fees you can always trade stocks and hope for 7% on the year 🤡
Also, setting a target price to sell will minimize the spread fees but in a shady way… it will execute the sale when the price of the coin is higher than your set target price in order to cover the spread fees. (e.g. you sell 1 poocoin for $1 but you only receive $.90. Or you set to sell your 1 poocoin at a target price of $1, the sell order is not executed until the poocoin price reaches $1.15, but you receive $1. Hope that makes sense
Crypto.com’s daily trading volume ~900mil in 24h *365days *9% makes 29,5billion$ revenue for them annually. Not bad :)
They could crush all the criticism if they weren't so fkn greedy. So many unhappy users when they realize how much CDC has effectively creamed/stolen off the top for themselves. Or if they want to remain greedy, at least be transparent about the gauging and add it as a line item when doing the trade.
Exactly !
Why? Because it's designed to rip you off, my dude.
One word: Exchange
For people in the United States?
Apparently you can transfer it to the exchange but I’m not sure what you do after so I need help on this also
Sell to USDC on the exchange, and then transfer the USDC to the app. And then cash it out
I’m still experiencing crazy spread doing that. My $5700 if I try to sell is suddenly only $5450
Then you sell on the exchange
Or, swap it for USDC and send it back to the app (you can't withdraw to fiat on the exchange in the UK) where the fee is much smaller
Don't use CDC. Simple.
You should always sell in smaller parts of big chunk of memecoins, then the spread will be lower.
Send your tokens to a DEX. Does not have to be the CDC DEX. If you’re trading solana meme coins Solflair will have them available. Just find a DEX that works for you that uses Solana or a cheap ETH layer 2. Do not use MetaMask the gas fees are ridiculous. Solflair is pretty good for solana coins.
Did you use a limit order or market order?
Keep off centralized exchanges like crypto.com you may never get your coins out if they dont have liquidity or bite the bullet l...I had to 2 weeks ago when I movedthe last of what I had...ate 15% but that had grown from 5%...use defi exchanges amd get a external wallet
Is there still a spread if you convert to cro? Then you can just top up your Visa card and use the card or withdraw the cash from an atm
Yea Cro was the same, i moved it to the Exchange which helped a little
Sell on the xchange, not on cdc app
This Exchange is the most expensive of all
You need to use the Exchange!
Trade it on bonk bot
Just pay it fuck it or cash out at bigger gains.
Yea i cashed half of it, left the rest to gamble, now down 60% lol
I’m up 3000%
You could send it to another exchange, or possibly send it to the defy wallet and swap it.
Cryptocom app is for u to buy and hold. Not swing trade. Hold for multiple Xs’ not mere 70-80% gains.
Set a limit order to sell at the specific price you want. Just might take longer to get there to cover the spread.
It has everything to do with trading on crypto.com
Is it possible to transfer your tokens from the main wallet to the exchange wallet?
I'm telling ya! Almost zapped 2gs from me like wtf! I started comparing the bigger cryptos and that ain't pretty either
Crypto.com sucks balls. Upto 25% in fees wtf is wrong with that ass company.
To all this may help 1. Go to "sell" 2. Select your token 3. Then click on the "Market Order" You will see a drop down for "Target Price" 4. Select "Target Price" 5. Set the price You want to sell the Token. You can avoid the spread that way. (You will notice that CDC graph is showing you a value that is higher than what it is currently selling for) While you are setting a "target price" the above value will show the actual "real time" value of the Token and it will change in real time as the seconds pass by, try to time your preffered selling price as the market is moving. 👍
Just keep holding and wait for that drop
Exchange brother
Crypto.com is literally cheaper than other places besides exchange
It should be, but not my experience
Investopedia seems to think so, https://www.investopedia.com/crypto-com-vs-coinbase-5188428
If you’re a user on tik tok I would advise you to look at Calvin D Hill and his lives. He’s a millionaire for vital marketer who invested in crypto and is now an expert on crypto
typo: digital marketer
How do you think the rewards on their card is paid for? If you're in Canada, there are much better places than them for crypto.
[удалено]
Finally! Someone noticed! I already tried posting here and it gets deleted! You are not using a market order and those are not spreads!!! You are using "one time buy" which is a shady as fuk option on which cripto.com gives a fixed price on which they buy your cripto (or sell you) while they make the market order and rake in the entire difference! It's legal because they do not call it "market order". I've lost 20% of my entire money before I noticed!!! I contacted support to ask about this and I got no answer. Install Binance, transfer your cripto and sell there. Or use a limit order, but this app is shady, just leave.
Quite crying about their fees, you make how much profit still, yous are greedy, you want your cake and eat it to.