In this lesson
- find out the difference between a quick buy and the spot market
- work out what convenience costs you
- decide when to use which
Almost every exchange has two entrances. The main entrance, labelled Buy crypto, is big, colourful and simple. The back entrance, labelled Spot, leads straight to the market – it looks more complicated, but you usually pay less for the same bitcoin there.
Quick buy#
Buttons such as Buy crypto, Quick buy or Convert work like a currency exchange office: you enter an amount, the exchange shows what you will get, done. But the price is usually not the market price. The exchange hides a markup in it – the so-called spread – and sometimes adds a fee on top.
The spot market#
On the Spot tab you trade directly with others through the order book. You pay a visible trading fee, usually tenths of a percent for ordinary customers. More in lesson 8.
What it adds up to#
A 400 € purchase (sample numbers):
| Method | Cost (roughly) |
|---|---|
| quick buy with a 1.5% markup | 6 € |
| quick buy by card: 1.5% markup + 2% card fee | 14 € |
| spot with a 0.2% fee | 0.80 € |
Exact numbers differ by exchange and amount – you will find them in the price list and the trade preview.
And note: you pay both when buying and when selling. Whoever buys and sells through quick buy can easily lose 3% – without the price moving at all.
When convenience is worth it#
- A small one-off amount, where the difference is pocket change and you do not want to learn a new panel.
- A first purchase, when you just want to see how it works.
For regular purchases and larger amounts, spot pays off. Check the recurring buy (DCA) that exchanges offer before turning it on, too – it often goes through the same expensive quick buy.
Compare the price, not the fee
Quick buy often tempts with a "zero fee". But a markup in the price is a fee too, just less visible. Compare how much crypto you get for the same amount.
Common myths#
- "Quick buy has no fee, so it is the cheapest." The fee is hidden in the price.
- "Spot is only for professionals." It is the same purchase, with one more field.
- "A few percent does not matter." It adds up on every purchase and sale.
Summary
- Quick buy is convenient but usually has a markup in the price and sometimes a fee.
- On spot you pay a visible fee, usually tenths of a percent for ordinary customers.
- You pay costs on both buying and selling – with quick buy that easily adds up to several percent.
- Quick buy for small tries, spot for regular and larger purchases.