Some features of the Binance which is no doubt charming but they do not give real values or if they say its free of cost, its actually not and there are hidden charges.
This post is specially for the traders who are interested using Binance conversion and who do wants to take the best advantage of the zero fee commission.
As it is written in conversion instruction that ""Instant Price | Guaranteed Price | Any Pair"". I agree that they offer instant price and any pair but I do not agree with guaranteed price.
There are two options in Binance conversion. If you want to convert any pair you need to select instant or limit conversion. In instant conversion you will be charged trading commission which is around 0.2% dual side and in limit conversion there is no fee deduction but your trading will be much delayed.
In instant conversion, you will get instant conversion of any pair but there is a huge pip which will cost around 0.2-0.25% which is not fair. But they say there is no fee commission.
Also in limit conversion, you will not charge a single cent but the price is not guaranteed. Which means if you have set to buy HIVE at $0.3 and the current price is $0.305 still your conversion is not triggered. The main reason is the less liquidity.
Thus there is no any guaranteed price in binance conversion and they are properly taking fees which are hidden. Many people dont go in deep about this and they think that its free therefore we must utilize it as more as possible. I have given my review regarding this feature, what are your views?
I hope you find this post interesting and I hope you enjoy it. If you like the post, please leave feedback in the comments section so that the next one will be even better. Thank you for sticking with me until the end.
TWITTER TELEGRAM HIVE WHATSAPP DISCORD
