All You Need to Know About Binance Convert

2022-06-14

Main Takeaway 

  • Binance Convert is a simple and user-friendly way to swap your digital assets for a wide range of other crypto or fiat currencies.

  • Binance Convert is especially great for users with specific liquidity needs, traders wishing to place large orders, or those looking to have efficient execution when converting their tokens.

Binance Convert is a quick and user-friendly way to exchange your crypto for another crypto or fiat currency and vice versa, with zero fees, using a time-sensitive conversion rate. Almost all crypto assets listed on Binance.com can be converted, along with stablecoins and fiat currencies.

Users can select the asset they wish to convert, the crypto or fiat they want to convert to, and request a quote in just a few clicks. The quote will be displayed along with a timer as the conversion rate is calculated based on live market conditions at the exact moment the request is placed. Once the quote is confirmed, the converted fiat or crypto will appear in the user’s Spot Wallet.

Convert Trading vs. Spot Trading

Why would users choose to trade with Binance Convert over spot trading? There are five main reasons:

Zero fees

Using Binance Convert, users can simply and instantly convert crypto or fiat assets anytime with zero fees at a live market price.

Secured rates for all orders

If a user wants to place a sizable order in the order book, it can potentially have a significant market impact at the point of execution, which can move the asset price up or down immediately. Binance Convert uses sophisticated liquidity provision technology to secure the asset rates outlined in the quote even for large orders, minimizing market impact and completing instantaneously. 

Any order size

Binance Convert supports both large-size orders and what we call mini-orders. Users can use Binance Convert for orders worth as little as $1. Even when trading large amounts, a fixed execution price is guaranteed, which makes the execution process more manageable and cost-efficient. 

Any coin to any coin 

Binance Convert gives you the flexibility to trade any coin for any other coin directly across more than 350 supported tokens. This amounts to more than 60,000 zero-fee trading pairs. 

Slippage-free

Trading assets with lower liquidity and volume can cause slippage – a situation when a trade settles for a different price than expected. Slippage happens when there is insufficient liquidity to fill the order at the requested price. Binance Convert provides enough liquidity to completely remove the risk of slippage.

Feel the difference with Binance Convert!

When to Use Binance Convert?

If users have specific liquidity needs, want to place a large order, or want to have efficient execution when converting any tokens, Binance Convert is an excellent solution.

Large order size

Imagine that someone is placing a large order in the order book, such as 100 BTC to be converted to ETH. Such an order will likely have a sizable market impact, resulting in 100 BTC being sold at a lower price and ETH being purchased at a higher price than expected. With Binance Convert, a fixed execution price is guaranteed, making the execution process more manageable and cost-efficient. Trading large amounts through Binance Convert can also help users achieve VIP-level upgrades.

Efficient conversion to many tokens

Binance Convert connects users with different liquidity providers that are ready to provide a quotation in many token pairs. Hence, there is no need to worry about liquidity issues.

Find out more about the benefits of Binance Convert and how to get started here:

(FAQ) How to Use Binance Convert 

Convert API