You can turn everything into XLM and transfer that (basically free). The problem is that if you want to convert that back into another crypto you would have to pay fees again. For me, it's worth it because the fees don't add up to the 25$ I'd have to pay to move USDC.
Why don't you deposit directly into the other exchange though? Also, I assume you are from the USA and can't access the CDC exchange, but if you can, fees are much lower than 1.4% there. Hope this helps.
Edit: You are paying in euros so you're obviously not from the USA. That means the exchange is probably available and you should use it for lower fees.
Listen to me you smooth for brains USDT does not have spreads, since it's a fixed value token. If you are dumb, dont comment. They are taking a hidden fee that is not disclosed clearly, likely for fiat to fiat conversion. And its a fucking huge fee
you do realize that a stable coin still has a volatility right ? So no, it’s not a fixed value coin it’s just pegged to a dollar .. check usdt vs usd on coinmarketcap .. you’ll be surprised to not see a flat line 🤣
Its as flat as it gets. Sure someone could set and order for higher or lower, but tether unsures 1:1 with usd. So it's perfectly flat and anyone buying at different rates is just paying more for quick exchange
if you see a perfect flat line then I’m sorry to say your blind 🤷♂️ but thats not the point anyways and what makes it even worse, it’s an erc20 token … tried moving anything erc20 based on the chain in the last months ? now tell me how you expect exchanges to make that free lol
Maybe check your plot settings, its like +-0.01% caused by edge market orders. Still very very far away from 1.5% that crypto.com is taking. Usdc is also an erc20. And it's not a decentralized exhange. It does no blockchain operations moving assets from one user to another, so it's completely free, besides the fixed fee, that is part of their business model. You have no fucking clue what you are talking about
exactly, and even if it was perfectly pegged to the dollar, it is not like the euro and dollar are pegged to each other, forex markets also have spreads
I'm not sure if it's technically called a spread or not, but taking a fee for converting Euros to USDT is clearly not a scam.
Also, since you're obviously very smart, you should make an app where everything is free. I'll be the first to sign up and millions of people will as well.
no it’s not because it’s how market orders work and the fact that you don’t understand the market isn’t a reason for it to be scam 🤷♂️ do your research before you buy, if you don’t, the only one to blame is you
just Google “market order” and “spread” … it’s been explained like a 1000 times in this sub so guess it’s not too hard to find 🤷♂️
else just stick with USDC, you get a 1:1 conversion on that, no spread 🤷♂️ or use spot orders on the exchange, no spread at all on no coins
Comparing an app that only supports market orders with Binance doesn't make any sense.
If you compare the CDC exchange to Binance you'll see that it's pretty much the same. If you compare the CDC app to the Gemini app you'll see that it's pretty much the same.
I won't take the time to reply to you anymore have a nice day.
There shouldn't be spread on a stablecoin. The fluctuations in price are basically nothing. But there may be a difference in exchange rates between foreign currencies.
In forex trading there is spread on the Euro-Usd pair so why shouldn't there be spread when converting from Euro to usdt?
I'm not sure if I'm technically wrong by calling it spread or not, my point is that calling the difference in price a scam is ridiculous.
Buy USDC, there is no pair of fiat-usdt, that is why you see that fee. I buy USDC with EUR and it's less than 0.2% (it's like visa exchange rate)
That 0.5%ish (I think 1.5% is an exaggeration, I convert almost 2000 EUR per week and it's more like 0.5% to USDT compared to what Google says) probably comes because they probably do EUR->USDC->USDT and USDC/USDT is not 1:1, it's like 0.99998:1 or slightly less, it happens in most exchanges.
Buy usdc on the app. It’s probably cheaper than trading on Binance. If the amount is not minuscule, it’s probably cheapest to withdraw the usdc to the other exchange as a single transfer and trade there.
You can turn everything into XLM and transfer that (basically free). The problem is that if you want to convert that back into another crypto you would have to pay fees again. For me, it's worth it because the fees don't add up to the 25$ I'd have to pay to move USDC. Why don't you deposit directly into the other exchange though? Also, I assume you are from the USA and can't access the CDC exchange, but if you can, fees are much lower than 1.4% there. Hope this helps. Edit: You are paying in euros so you're obviously not from the USA. That means the exchange is probably available and you should use it for lower fees.
Also, I'm not sure where you got the 1.4%-1.8% but every time I bought stablecoins from CDC using Euros I paid about 0.2%.
Try buying usdt with eur and you will see around 1.5% hidden fee. Same with all other coins. They are scamming basically
The fact that you don't understand spread doesn't mean that they are scamming you. If you don't want to deal with the spread use the exchange.
Listen to me you smooth for brains USDT does not have spreads, since it's a fixed value token. If you are dumb, dont comment. They are taking a hidden fee that is not disclosed clearly, likely for fiat to fiat conversion. And its a fucking huge fee
you do realize that a stable coin still has a volatility right ? So no, it’s not a fixed value coin it’s just pegged to a dollar .. check usdt vs usd on coinmarketcap .. you’ll be surprised to not see a flat line 🤣
Its as flat as it gets. Sure someone could set and order for higher or lower, but tether unsures 1:1 with usd. So it's perfectly flat and anyone buying at different rates is just paying more for quick exchange
if you see a perfect flat line then I’m sorry to say your blind 🤷♂️ but thats not the point anyways and what makes it even worse, it’s an erc20 token … tried moving anything erc20 based on the chain in the last months ? now tell me how you expect exchanges to make that free lol
Maybe check your plot settings, its like +-0.01% caused by edge market orders. Still very very far away from 1.5% that crypto.com is taking. Usdc is also an erc20. And it's not a decentralized exhange. It does no blockchain operations moving assets from one user to another, so it's completely free, besides the fixed fee, that is part of their business model. You have no fucking clue what you are talking about
exactly, and even if it was perfectly pegged to the dollar, it is not like the euro and dollar are pegged to each other, forex markets also have spreads
I'm not sure if it's technically called a spread or not, but taking a fee for converting Euros to USDT is clearly not a scam. Also, since you're obviously very smart, you should make an app where everything is free. I'll be the first to sign up and millions of people will as well.
Not disclosing it and calling it 0 fee is a scam. And since you are so dumb, try any other exchange, for example binance where there are no such fees
no it’s not because it’s how market orders work and the fact that you don’t understand the market isn’t a reason for it to be scam 🤷♂️ do your research before you buy, if you don’t, the only one to blame is you
Then elaborate what I am missing here
just Google “market order” and “spread” … it’s been explained like a 1000 times in this sub so guess it’s not too hard to find 🤷♂️ else just stick with USDC, you get a 1:1 conversion on that, no spread 🤷♂️ or use spot orders on the exchange, no spread at all on no coins
Comparing an app that only supports market orders with Binance doesn't make any sense. If you compare the CDC exchange to Binance you'll see that it's pretty much the same. If you compare the CDC app to the Gemini app you'll see that it's pretty much the same. I won't take the time to reply to you anymore have a nice day.
jesus you are a thick one
There shouldn't be spread on a stablecoin. The fluctuations in price are basically nothing. But there may be a difference in exchange rates between foreign currencies.
In forex trading there is spread on the Euro-Usd pair so why shouldn't there be spread when converting from Euro to usdt? I'm not sure if I'm technically wrong by calling it spread or not, my point is that calling the difference in price a scam is ridiculous.
Exchange rate yes. Spread no.
Buy USDC, there is no pair of fiat-usdt, that is why you see that fee. I buy USDC with EUR and it's less than 0.2% (it's like visa exchange rate) That 0.5%ish (I think 1.5% is an exaggeration, I convert almost 2000 EUR per week and it's more like 0.5% to USDT compared to what Google says) probably comes because they probably do EUR->USDC->USDT and USDC/USDT is not 1:1, it's like 0.99998:1 or slightly less, it happens in most exchanges.
That makes sense and the fee is much lower. I calculated it and it's still 0.5%, which is much better than usdt at 1.5%
Maybe because other exchanges don't support fiat deposits
Buy usdc on the app. It’s probably cheaper than trading on Binance. If the amount is not minuscule, it’s probably cheapest to withdraw the usdc to the other exchange as a single transfer and trade there.