Hello, and thank you to all of you, I see more clearly.. I didn't know there were hidden costs.
Indeed you are right, as a trader, you have to use stop losses which do not exist with the "Convert" tool.
Thanks again
Topic: Trade with Binance's "Convert" tool for $0 fees? - page 2. (Read 176 times)
My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees?
Thanks
There are many reasons why traders choose to trade in spot trading compared to just using the convert option.
Look at this sample convert vs spot trading when trading BTC/USDT the rate on convert is low compared to spot trading.
Another thing is you can't able to use stop limit options and no chart compared to spot trading.
Better check them because if you are a trader you will need those charts and stop limit orders.
It varies according to what you want. Do you want to trade or exchange cryptos?
In spot trading, you choose the buying or selling price at which you plan to execute the order at, and therefore, with a little technical analysis, you determine the buying and selling points, and from them you achieve profits by buying at a low price and selling at a fair price.
by using Convert you cant trade crypto in that way.
In spot trading, instead of exchanging cryptocurrencies at a specific price, you can choose the appropriate price with you and wait for some time until the order is executed in the order book, and thus you will get a better price.
It is true that Convert does not contain fees, but there are hidden fees, which is that the price of executing orders is chosen by exchange and it can profit from the price difference.
it is closer to say
spot trading: exchange 1 BTC for 101 USD with 1$ fees
Convert: exchange 1 BTC for 100 USD
You mean that the price on convert instead of the spot trading page is in a way it will not favour the trader and render the 0 fee to be useless, or to be in a way that using the convert will make a trader lose instead if compared with spot trading.In spot trading, you choose the buying or selling price at which you plan to execute the order at, and therefore, with a little technical analysis, you determine the buying and selling points, and from them you achieve profits by buying at a low price and selling at a fair price.
by using Convert you cant trade crypto in that way.
In spot trading, instead of exchanging cryptocurrencies at a specific price, you can choose the appropriate price with you and wait for some time until the order is executed in the order book, and thus you will get a better price.
It is true that Convert does not contain fees, but there are hidden fees, which is that the price of executing orders is chosen by exchange and it can profit from the price difference.
it is closer to say
spot trading: exchange 1 BTC for 101 USD with 1$ fees
Convert: exchange 1 BTC for 100 USD
I have not used convert before, but this is what I found out.
I checked the price of sport trading now and it was $28044, sam on convert page.
See spot trading (left) and convert (right) trading fee for BTCUSDT pair:
Like I said, the price is the same. You can also use limit order on the convert page too.
@OP you should compare how much you will get when you buy Bitcoin through spot trading and using convert feature.
Convert feature is just like using a swap or instant exchange, they're usually charge higher fees.
With spot trading, you can set your trading order (buy or sell) and wait for it to be filled when the market moves up or down.Convert feature is just like using a swap or instant exchange, they're usually charge higher fees.
With Convert feature, you will have to accept given price and convert rate from the exchange, which can be disadvantage for you. I think it will cost you more than with Sport trading.
I only use the Convert feature if I have some leftover coins, tokens from trading and want to convert them all to BNB. With tiny amount of each coin, I don't mind about its conversion rate.
@OP you should compare how much you will get when you buy Bitcoin through spot trading and using convert feature. Centralized exchange will always charge you a fee in order to make them earn profit, they're a profit oriented exchange, not a non profit oriented exchange.
Even you're using a non profit oriented exchange e.g. Bisq aka decentralized exchange, you still need to pay fee to the miner when you've successfully send your Bitcoin.
Convert feature is just like using a swap or instant exchange, they're usually charge higher fees.
Even you're using a non profit oriented exchange e.g. Bisq aka decentralized exchange, you still need to pay fee to the miner when you've successfully send your Bitcoin.
Convert feature is just like using a swap or instant exchange, they're usually charge higher fees.
Hello everyone 
To do spot trading on Binance, you can use the "Convert" tool with a $0 fee (in market or in limit).
My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees?
Thanks
To do spot trading on Binance, you can use the "Convert" tool with a $0 fee (in market or in limit).
My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees?
Thanks
I don't think that any trader will ever use that tool for trading. The fees on Binance spot trading aren't much high and if someone can trade with a proper trading plan and well developed strategy the %age of earnings are much higher compare to that minimum fee. Spot trading offers many functionalities that the convert function doesn't allow. No good trader will give up on those features.
Convert function is only useful if you have small amount of a coin that you want to convert into a stable coin other than that I haven't found any good use case for that function in trading. Even if it doesn't have fees directly, but your conversion will be executed on higher price than the current market price so the exchange can earn their share from the conversion.
My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees?
It varies according to what you want. Do you want to trade or exchange cryptos?
In spot trading, you choose the buying or selling price at which you plan to execute the order at, and therefore, with a little technical analysis, you determine the buying and selling points, and from them you achieve profits by buying at a low price and selling at a fair price.
by using Convert you cant trade crypto in that way.
In spot trading, instead of exchanging cryptocurrencies at a specific price, you can choose the appropriate price with you and wait for some time until the order is executed in the order book, and thus you will get a better price.
It is true that Convert does not contain fees, but there are hidden fees, which is that the price of executing orders is chosen by exchange and it can profit from the price difference.
it is closer to say
spot trading: exchange 1 BTC for 101 USD with 1$ fees
Convert: exchange 1 BTC for 100 USD
Hello everyone
To do spot trading on Binance, you can use the "Convert" tool with a $0 fee (in market or in limit).
My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees?
Thanks
To do spot trading on Binance, you can use the "Convert" tool with a $0 fee (in market or in limit).
My question is why many traders to buy and sell use the spot trading (where there are buy, sell buttons and order book) with fees instead of using the "Convert" tool without fees?
Thanks
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