Why is it difficult to buy a crypto at listing?

[Fidelia]

A new token, Morpho was to be listed on Bybit yesterday and I stayed awake all night to buy the token at listing price. It was listed at $0.6. I tried to buy from Bybit all to no avail. But by the time I was able to buy, the price had gone up to $1.14. I have had same experience with other tokens I wanted to buy at listing.

Is it that the exchanges doesn't allow people to buy newly listed tokens at listing price?

 

[Suba]

Why do you have to wait for the token to be listed on a crypto exchange, why don't you buy it directly on their website, the token price will even be cheaper.

 

[Kross]

It is always better to buy tokens that you believe in at premarket sales than having to wait till listing.