All functions of the portal (checking indicative prices / confirming trades) will be available when you log-in to your Binance account. Please note that standard exchange withdrawal limits apply. If you are using an account without KYC verification, the 2 BTC withdrawal limit per 24 hours will apply.
2. What are the benefits of using the crypto converter portal?
Users can easily convert their assets on the portal without having to worry about complicated matters such as the order book and trading fees. You can find out about the Benefits of conducting larger OTC crypto trade size (generally 10,000 USDT equivalent or higher) trades on the portal. Start by registering an account today to find out more!
3. What are the minimum and maximum trade amounts?
The minimum trade amount is generally an equivalent value of 10 USDT worth of coins. Minimum and maximum trade amounts will be dependent on the coin / pair and can be previewed before entering in a trade amount.
4. How does settlement work?
Trades are settled directly to your Binance account’s spot wallet. Settlement will usually occur immediately after you confirm a trade.
5. How do I make deposits and withdrawals for OTC trades?
There is no separate wallet for OTC trades. Simply make deposits and withdrawals to / from your account’s spot wallet.
6. Are there any trading fees?
We do not charge any fees on OTC trades. However, there will be a spread (if you are buying, our prices will be above the market price. If you are selling, our price will be below the market price).
7. I received an “insufficient funds” error?
To confirm an OTC trade, you must have the required amount of coins that you are selling in your account. For example, if you want to buy 10 BTC with USDT and the price per BTC is 10,000 USDT, then you must have at least 100,000 USDT in your account to confirm the trade.
9. Can I confirm trades on credit (without coins in my Binance spot wallet)?
No, you must have the required amount of coins for the trade in your Binance spot wallet (not margin or futures wallets).
10. Why are there old tickers (LEND, ADXOLD, etc)?
The portal allows users to convert “old” versions of tokens to new versions that, for example, may have resulted from project teams implementing a token swap. The old versions can only be traded into the new versions.