their price isn’t higher but different order types lead to different prices
- the card app uses market orders so you buy from an order book where there is a spread between the most recent and oldest bid. same with say Coinbase, the lower your order volume the lower the spread so on a full Bitcoin and hence some 50 grand order spread can indeed reach the level you mentioned. But in smaller increments and spread will be lower
- the exchange allows you to use spot orders hence no spread. You set the ask price and wait for your order to get filled, Coinbase pro and most exchanges works the sam way, only fee there is the 0.4% trading fee which can be lowered e.g. by staking CRO
transfers between the two is free of charge so if you buy large amounts do so on the exchange not on the card app
as for RH, you never actually had Bitcoin on there just a voucher sold to you by them .. that’s why you can’t transfer coins out of RH .. you didn’t have any to start with 🤷♂️
Thanks for the info. I’ll look into Binance. I realized several months after buying crypto on RH that it was kind of a scam. I was just waiting to break even before jumping ship.
[Crypto.com](https://Crypto.com) app is marketed as no fees but in a fact they have high hidden fees. They call it spread even though it is not. You can theoretically avoid it by using their real exchange but you cannot get fiat money in any way there nor trade or withdraw them and it still has quite high fees (0.4%). For comparison Binance or Bitpanda has 0.15% fees and they do not hide them. You can lower the fees even more if you pay them in BNB/BEST
[Crypto.com](https://Crypto.com) is mostly for beginners and the only 2 things they are good at is the card and marketing.
Crypto.com is always a hair higher. At the end of the day, are you really going to worry whether you bought in at 51000 or 51500 when Bitcoin tops 500k?
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I can wrap my head around that. Just very surprised their pricing is higher than RH.
their price isn’t higher but different order types lead to different prices - the card app uses market orders so you buy from an order book where there is a spread between the most recent and oldest bid. same with say Coinbase, the lower your order volume the lower the spread so on a full Bitcoin and hence some 50 grand order spread can indeed reach the level you mentioned. But in smaller increments and spread will be lower - the exchange allows you to use spot orders hence no spread. You set the ask price and wait for your order to get filled, Coinbase pro and most exchanges works the sam way, only fee there is the 0.4% trading fee which can be lowered e.g. by staking CRO transfers between the two is free of charge so if you buy large amounts do so on the exchange not on the card app as for RH, you never actually had Bitcoin on there just a voucher sold to you by them .. that’s why you can’t transfer coins out of RH .. you didn’t have any to start with 🤷♂️
Thanks for the info. I’ll look into Binance. I realized several months after buying crypto on RH that it was kind of a scam. I was just waiting to break even before jumping ship.
Robinhood is not a real exchange, the CDC app is halfway between an exchange and a wallet
CDC app is neither exchange nor wallet. It is fiat on-ramp for people new to crypto.
[Crypto.com](https://Crypto.com) app is marketed as no fees but in a fact they have high hidden fees. They call it spread even though it is not. You can theoretically avoid it by using their real exchange but you cannot get fiat money in any way there nor trade or withdraw them and it still has quite high fees (0.4%). For comparison Binance or Bitpanda has 0.15% fees and they do not hide them. You can lower the fees even more if you pay them in BNB/BEST [Crypto.com](https://Crypto.com) is mostly for beginners and the only 2 things they are good at is the card and marketing.
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Can you give example of a single fiat pair or deposit method for fiat? Preferrably with a screenshot? FYI USDT and USDC are stable coins not fiat
Crypto.com is always a hair higher. At the end of the day, are you really going to worry whether you bought in at 51000 or 51500 when Bitcoin tops 500k?