The price you see is the mid-market midpoint. You buy at the higher ask price, plus a fee and any slippage. Here is what the spread is and how to pay closer to the real price.
The price you see quoted is usually the mid-market price, the midpoint between buyers and sellers. When you actually buy, you pay the slightly higher ask price, plus any platform fee and a little slippage if the market moves while your order fills. That gap is normal and exists on every exchange.
Three things sit between the headline price and what leaves your account: the spread, slippage, and fees.
Every market has two live prices. The bid is the highest amount a buyer will pay. The ask is the lowest amount a seller will accept. The gap between them is the spread, and the mid-market price you see quoted sits in the middle.
When you buy, you pay the ask. When you sell, you receive the bid. You are always crossing the spread.
If the bid is $99.50 and the ask is $100.50, the mid-market price is $100. You buy at $100.50 and could immediately sell at $99.50, a 1% round-trip cost from the spread alone, before any fee.
Slippage is the difference between the price you expected and the price your order actually filled at. It happens because the market moved in the split second your order was processing, or because there was not enough crypto for sale at your price. As Kraken's explainer notes, slippage is worst during sharp price swings and on small, thinly traded coins.
Many apps advertise no trading fee, then quietly widen the spread instead. You still pay, the cost is just hidden inside the price you get rather than shown as a separate line.
A wider spread is a real cost, even when the headline says zero fees. Always compare the total you pay, not the advertised fee.
On small buys the spread and fee together can sting, which is why how much you start with matters. Compare the all-in cost across exchanges and check cheaper funding methods before you commit.
Fees, spreads and payment surcharges, side by side.
Compare exchangesBecause the quoted price is the mid-market midpoint, and you buy at the higher ask price. Add the platform fee and any slippage and your cost sits a little above the headline number.