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@ Andrey
2023-08-25 23:09:59
# Introduction: Crypto.com Exchange for European Traders
Reside in Europe, including non-EUR countries? Frustrated with the exorbitant spreads on the Crypto.com App (up to **5%**) and high credit card fees (up to **3%**) when you're eager to buy or sell cryptocurrency? This guide is tailored for you!
# Quick Transfer with SEPA Instant
Did you know that you can transfer EUR to your Crypto.com Exchange account within minutes, and sometimes even seconds, **including weekends and bank holidays**? Yes, you absolutely can, thanks to SEPA Instant Credit Transfer (**SCT Inst**).
## Supported Banks
To avail of fast EUR to Crypto.com Exchange transfers, ensure that your bank supports the SEPA Instant Credit Transfer (SCT Inst) scheme. If your bank, or FinTech apps like Wise, is on [this list](https://www.europeanpaymentscouncil.eu/sites/default/files/participants_export/sct_inst/sct_inst.pdf), you're good to go.
> **My Recommendation**: I vouch for Wise due to its flawless functionality and favorable exchange rates. If your bank doesn't support **SCT Inst** and you're unwilling to wait, you can swiftly load your account with any currency using a bank card for a rather small fee (~1.2%).
> My Wise Referral Code: [andreya54](https://wise.com/invite/dic/andreya54)
## 24/7 Transfer Availability
SCT Inst is incredibly flexible:
- 24/7/365 availability, including weekends and bank holidays
- Immediate receipt and availability of funds
- €100,000 transaction limit (unless previously agreed otherwise between PSPs)
For more details, you can read [this document by the European Central Bank](https://www.ecb.europa.eu/paym/integration/retail/instant_payments/shared/pdf/ECB_Document_MIP_Brochure_FinalVersion.pdf).
# TL;DR
To Buy crypto:
- `EUR => BTC/EUR => ANY/BTC => ANY`
- Use Limit order at the Lowest offer (aka "ask") (red order book)
To Sell crypto:
- `ANY => ANY/BTC => BTC/EUR => EUR`
- Use Limit order at the Highest bid (green order book)
# How to Buy Cryptocurrency with EUR
Here's how to save up to **8%** on spreads and fees when buying/selling crypto compared to the Crypto.com App.
1. **Log in to Crypto.com Exchange**: Go to the Dashboard or Wallet in the top right, and navigate to Bank Transfer on the left sidebar.
2. **Deposit via SEPA**: Choose `EUR -> SEPA -> Deposit` and use the displayed IBAN for transferring EUR to your Crypto.com Exchange account.
# Trading Interface Tips
Intimidated by the professional trading interface? Don't be. Here's how to read the order book:
- **Offers (Red)**: These are the prices at which people are willing to sell the asset. The lowest offer is often called the "Ask."
- **Bids (Green)**: These are the prices at which people are willing to buy the asset. The highest bid is often called the "Bid."
> Trading occurs when a buyer's bid meets a seller's offer. In market terms, this is often at the point where the highest bid and the lowest offer intersect. This intersection is frequently referred to as the "market price" for that particular asset at that specific time.
## On trading pairs
Crypto.com Exchange offers only two **EUR** trading pairs: **BTC/EUR** and **ETH/EUR**.
This is logical given that these assets have the highest liquidity in terms of market capitalization. While we hope for the addition of more pairs, the existing options still serve as useful proxies for purchasing other cryptocurrencies.
> "highest liquidity" means that an asset like a cryptocurrency or stock can be easily bought or sold without causing a significant impact on its price. For a trader, this is good because it means they can quickly enter or exit positions without worrying about huge price changes.
## Steps to Buy BTC with EUR
1. Navigate to the `BTC/EUR` Spot trading pair.
2. Choose "**Buy**" on the right-hand menu.
3. Stay on the "**Limit**" tab.
4. Specify your **order value** (how much EUR you want to spend to buy BTC)
5. Select the lowest offered (aka "**ask**") price (bottom of the red order book).
6. Click "**Buy BTC**" to confirm.
# Diversifying: How to Buy ATOM Token?
First, buy BTC as previously explained. Then:
1. Navigate to the `ATOM/BTC` Spot trading pair.
2. Choose "**Buy**" on the right-hand menu.
3. Stay on the "**Limit**" tab.
4. Specify your order value (how much **BTC** you want to spend to buy **ATOM**)
5. Select the lowest offered (aka "**ask**") price (bottom of the red order book).
6. Click "**Buy ATOM**" to confirm.
# Selling Your Assets
The process is the same but in reverse. Sell at the highest bid (top of the green order book).
## Selling ATOM for BTC
1. Navigate to the `ATOM/BTC` Spot trading pair.
2. Choose "**Sell**" on the right-hand menu.
3. Stay on the "**Limit**" tab.
4. Specify your quantity value (how much **ATOM** you want to sell to buy **BTC**)
5. Select the highest **bid** (top of the green order book).
6. Click "**Sell ATOM**" to confirm.
## Selling BTC for EUR
1. Navigate to the `BTC/EUR` Spot trading pair.
2. Choose "**Sell**" on the right-hand menu.
3. Stay on the "**Limit**" tab.
4. Specify your quantity value (how much **BTC** you want to sell to buy **EUR**)
5. Select the highest **bid** (top of the green order book).
6. Click "**Sell BTC**" to confirm.
> You can then withdraw EUR back to your bank directly from the Crypto.Com Exchange.
## Additionally
After you click "**Buy**" or "**Sell**," you will see your order in the "**Open Orders**" tab in the bottom menu. Once your order is **100%** filled, it will disappear, and you will be able to see it in the "**Trade History**" tab.
Sometimes you might miss the opportunity as the price moves, and someone else's order could get filled faster than yours. Don't worry; you can either wait a little longer in hopes that someone will make an offer at this price or simply cancel your order and submit it again at the next lowest price if you are in a hurry.
## Maker/Taker Fees Explained
When you open Buy/Sell orders on the Crypto.com exchange, you may incur small Maker/Taker fees of less than `0.0728%`, or even no fees at all, depending on the amount of CRO you have staked on the platform.
- **Maker Fee**: When you place an order that adds liquidity to the market, you are a "**Maker**". This usually happens when you set a "limit" order that does not execute immediately and sits on the order book waiting for someone to match against it. Since you are "**making**" liquidity available for others, you pay a Maker fee.
- **Taker Fee**: When you place an order that removes liquidity from the market, you are a "**Taker**". This generally occurs when you place a "market" order that executes immediately against a pre-existing order on the order book. Because you are "**taking**" liquidity away, you pay a Taker fee.
> Typically, Taker fees are higher than Maker fees as an incentive for traders to add liquidity to the market.
[Read more](https://crypto.com/exchange/document/fees-limits) on Maker/Taker fees on the Crypto.Com Exchange platform.
# Conclusion
Thanks for reading this guide! It's lengthy, but every detail is crucial for optimal trading on Crypto.com Exchange.
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