Overview

When you look at a cryptocurrency quote, the quote you see on our platform serves as the midpoint quote between the bid and the ask. This helps you estimate your order's cost; however, the final price you pay can be different because of market factors and applicable trading fees. We work with a liquidity partner to find the best available price across global cryptocurrency markets when your order is filled. Learn more about our order execution and order handling process.

How market conditions affect your price

Cryptocurrency prices can be influenced by how many people are buying and selling at any given moment. This activity creates what's called a bid/ask spread and can lead to variations in your order's final price.

Understanding the bid/ask spread

Similar to other financial markets, there are two key prices at play:

• The bid price is the highest price a buyer is currently willing to pay for a cryptocurrency.
• The ask price is the lowest price a seller is willing to accept for that same cryptocurrency.

When you buy cryptocurrency, your order is filled at the ask price. If you sell, your order is filled at the bid price. The difference between these two prices is the bid/ask spread. This spread can vary depending on the cryptocurrency and current market activity.

Impact of market spread

The market spread broadly refers to the difference between the highest buy price and the lowest sell price available across all active orders in the market. In fast-moving or less liquid markets (meaning fewer people are actively trading), this spread can be wider. This means the price you see when you place your order might differ from the price it fills at because prices can change quickly.

Understanding trading fees

In addition to market factors, you pay a trading fee for each cryptocurrency order you place. The trading fee you pay on orders depends on your Wealthsimple client plan:

• Core clients: 2%
• Premium clients: 1%
• Generation clients: 0.5%