In times of market volatility, the Binance Convert tool provides a quick and simple way to exchange cryptocurrencies without the need to delve into complex details and orders as is the case in the Spot trading interface. All you need is a few clicks to get a uniform price displayed before you for a few seconds, allowing you to instantly convert to stable coins like #USDT or #USDC to secure your profits or hedge against risks.
🔥Features of Binance Convert
Speed and simplicity: Instant execution with an easy interface, without writing orders or monitoring the order book.
No visible fees: There are no direct trading fees, but the quoted price includes a small spread.
Renewable pricing: A live price valid for seconds is shown to you, and it is updated automatically.
Limit system: You can set the desired price in advance, and orders remain active for up to 30 days if not executed.
🔥Why use Convert during volatility?
Because it helps you quickly lock in profits or move to stable coins without facing the slippage risks that usually occur in the order book, making it an ideal choice for beginners.
🔥Steps to perform a conversion via Binance Convert
🌹Login: Enter your account, then choose: Trade → Convert as you see in the image👇
🌹Select the conversion pair: Choose the currency you want to sell (From) and the currency you want to buy (To), like #bnb → USDT.
🌹Enter the amount: Write the amount you want to exchange, and its dollar value for comparison will appear, as
you see in the image
🌹Conversion preview: The live price will be shown for a limited time with a countdown timer. As you see in the image
🌹Confirmation and execution: When you click Convert, the conversion happens instantly and the received currency is added to your wallet.
🌹Transaction log review: You can view the transaction details in the Convert log.
🔥What is the difference between Convert and Spot?
Convert: A live price valid for seconds and instant execution with a price spread.
Spot: Greater flexibility using Limit and Market orders, and it may be more economical for large trades.
🔥Summary of the process
During a sharp rise: Convert part of your positions to USDT or FDUSD or any other stable coin to lock in profits.
During a rapid decline: Use Limit within Convert to gradually buy at lower prices.
Always monitor the price spread and ensure the live price, especially in large trades.
⭐Note: Digital assets are highly risky, so always do thorough research before investing and have a clear plan for capital management.
⭐Link to Binance Convert page https://www.binance.com/en-IN/convert/USDT/BTC
