I’m trying to buy some tokens to better understand Threefold. I’m using Lobstr and Solar wallets, but both give me a crazy exchange rate. Solar just warned me the spread between buying and selling is a whopping 536%! Can someone explain this me, being a bear of small brain?
536% spread on token purchase
There’s not a lot of activity for TFT on Stellar DEX, so price spread is indeed rather high right now. I currently see sell offers for .6 XLM, which is rather overpriced, and buy offers at .1 XLM, which is rather underpriced, versus the centralized exchange markets.
Looking at the trade history, however, shows that trades are happening closer to the wider market rate of ~.2 XLM per TFT. You might try placing a buy order at your desired price and waiting a while to see if it’s fulfilled.
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Maybe you should try Liquid or BTC-Alpha for buying/trading TFT - they have MUCH better price.
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The price on Stellar DEX is volatile, but it is actually sometimes possible to buy there at a lower rate than the centralized exchanges. Trading on the DEX also requires no registration/KYC, and has no fees to trade or withdraw aside from the tiny Stellar transaction fee. Centralized exchanges might be easier for most folks, but there are good reasons someone might want to use the DEX.