Want to swap ETH for BTC without placing orders on the exchange? Binance Convert does it with one click. But does it have fees? How's the rate calculated? Is it more expensive than direct trading?
Convert is available after signing up for Binance. Download the Binance App and find "Convert" on the home page.
What Is Convert?
Convert is Binance's instant exchange service. Enter two currencies and an amount, get a real-time quote, confirm, and the swap completes instantly. No order book, no waiting.
Does Convert Charge Fees?
No explicit fee: There's no separate fee line item — what you see is the final price.
Actual cost is in the spread: The quote includes a spread between it and the market mid-price. This spread is Binance's revenue and your actual cost.
How Big Is the Spread?
- Major pairs (BTC/USDT, ETH/USDT): Usually 0.01%-0.1%, very small
- Mid-cap coins: 0.1%-0.5%
- Small-cap/low liquidity: 0.5%-2% or more
- Market conditions: Smaller during active markets, larger during thin or volatile periods
How Is the Rate Determined?
Based on: real-time market prices, available liquidity, trade size (smaller amounts get better rates), and Binance's pricing algorithm. Quotes are valid for 5-10 seconds.
Convert vs. Spot Trading
Choose Convert: Small amounts, not familiar with order books, no direct trading pair between the two coins, convenience over tiny cost differences.
Choose Spot: Large amounts (cost-sensitive), want limit orders at specific prices, frequent trader, trading major pairs where spot fees may be lower.
Convert's Unique Advantages
Any pair: Swap any two coins directly (e.g., DOGE to SOL) without going through USDT.
Zero slippage: Confirmed quote is final — no market movement impact.
Ultra-simple: Select two coins → enter amount → confirm. Three steps.
Summary
Convert is Binance's most convenient exchange tool. For daily small-amount swaps, the spread is negligible. For large amounts, compare Convert vs. spot costs before deciding.