Be aware. Hidden spread fees on exchanges when selling tokens

With the recent moon listings on both Crypto.com and Kraken I think it’s important to share this information for anyone looking to make some trades.

I learned this the hard way myself just yesterday using the Crypto.com app. I was holding a stack of moons hoping to make a profitable little trade when Kraken listed. At last yesterday the news came in and the price pumped.

So I figured I’d sell my stack held on CDC for a cheeky little profit. No issues, I sold my moons for USDT and hoped to buy back even more moons once the price dropped (or should I say if the price dropped). After it dropped 5% briefly I wanted to see how many moons I could buy back and much to my disappointment I’d be getting almost 10% moons less even though the price has dropped 5% since I sold.

Looking into it, even though there’s no fee there is a hidden spread on whatever you’re selling and apparently liquidity can play a big role into whatever that spread cost may be.

I was aware of spread, I’m ok with spread. What I’m not ok with is how hidden it is from users. Displaying a zero fee but having an actual 10-15% spread cost is very misleading. Even now, I can’t easily see what the spread cost on my transaction was but if you look hard enough you can find the price per coin you received and for me it was nowhere near the market value at the time.

I tried to them use the Crypto.com exchange app to see if my trades would have been easier or cheaper there but moons are not listed on that app.

I haven’t tried Kraken, I will be using them for my next trade to see if they operate similarly so feel free to let me know if any of you have tried it yet.

Rookie error on my part, we learn by making mistakes and sharing our experiences so here I am sharing my story to hopefully help others.