What is Binance Convert? Flint

Introduction to Binance Convert

Binance Convert is a platform made to facilitate conversions of your Crypto into Fiat and vice versa. The main attraction is the simple user interface, quick settlements and ease of access. Stablecoins and fiat alternatives, in addition to almost all the crypto assets listed on binance.com, can all be converted.

Within a few clicks, users may choose the asset they want to convert, the cryptocurrency or fiat they want to convert to, and review the current price. The conversion is determined based on current market conditions at the precise time the request is made, thus the quote will only be visible for a brief period of time. The converted cash or cryptocurrency will show up in the users' Spot Wallet once the quote has been verified.

Features of Binance Convert

• No fees
  Users may quickly and easily convert crypto or fiat assets using Binance Convert at any time, with no fees and a live price depending on the current state of the market.
  
• Low and secured cost
  If a user wishes to place a large order, the order is likely to cause a significant market impact, which can rapidly change the asset price. Binance Convert minimises market effect and completes instantly by utilising sophisticated liquidity provision technology to secure the asset rates specified in the quote.
  
• Any order size
  Both large and small orders are supported by Binance Convert. A constant execution price is ensured even when trading huge amounts, making the execution process more manageable and economical. Additionally, users can use Binance Covert for small orders, which allows conversions down to $1. It is a good approach to convert your crypto and fiat to be able to trade assets for such tiny order quantities with no trading costs.
  
• No slippage
  Only the trading pairs available on the exchange are available for trading via order book. Trading assets with less liquidity and volume can result in slippage, which is when a trade settles at a price that is not what was anticipated. When there is not enough liquidity to fill the order at the required price, slippage occurs. The liquidity offered by Binance Convert is sufficient to totally eliminate the danger of slippage.
  

How to use Binance Convert?

Step 1: Visit Binance Convert 

Go to Trade in the top left corner of the homepage of the Binance website, then select Convert.

Step 2: Choose the tokens you already own and the ones you want to purchase. You have the option of entering the number of tokens you want to obtain or use.

Step 3: Click Preview Conversion. The pricing estimate for the transaction you are considering will then appear. You only have 5 seconds to accept this price. In case the five seconds have passed, you can get the new price by clicking Refresh.

Step 4: Select Convert. You will see the cryptocurrency you purchased in your Spot Wallet after the transaction, which takes less than a second.

Conclusion

Binance has described the platform as a less expensive substitute for spot trading. The easy-to-use function Binance Convert effectively provides a smooth on and off ramp for consumers who want to convert their crypto holdings.