I was using crypto.com to complete some transactions, and apparently it was during a time low liquidity because my spread fee came to came to somewhere around 12% or 15%. Seems a little high. Are there any other fees that might be included that I'm not seeing? And also how in the world Do I track spread fees on crypto.com. when I look at my receipts, I don't see very much information about spread fees whatsoever
Also, this sort of pushed me to consider how things are taxed. How does this work with when I purchase a cryptocurrency and the spread fees cause the dollar amount to drop by 5%. In order to get back to the amount of the initial invested, I need to earn that 5% back. Will that extra 5% be taxed? (I asked AI and it was telling me that the this spread fee would be included in cost basis and that I would only be taxed on capital gains only after pushing past my initial investment... Is this true?)