Binance's Convert feature lets you quickly swap between different tokens without placing orders on the trading book. Many people find it incredibly convenient but wonder if there are hidden fees.
Sign up for Binance to access Convert. We recommend downloading the Binance app for anytime access.
Are There Fees
Binance Convert is officially labeled "zero fee." You won't be charged a separate fee when converting.
But this doesn't mean it's completely cost-free. The cost is embedded in the exchange rate — Binance's quoted rate includes a spread, which is their revenue source.
How Rates Are Determined
Convert rates are quoted in real-time by Binance, based on current market prices plus a small spread. For major pairs (like BTC/USDT), the spread is typically just 0.01%–0.1%.
After entering an amount on the Convert page, the system gives you a quote valid for a few seconds. Confirm within the validity window to execute at that rate. After expiration, you'll need to request a new quote.
Compared to Trading on the Exchange
Placing limit orders on the spot market: You set your own price, potentially getting a better deal, but you need to wait for execution and pay trading fees.
Convert: The system quotes a price, execution is instant, no trading fee but there's a spread.
For small conversions, Convert is more convenient. For large transactions, placing orders on the exchange may be more cost-effective since the spread on large Convert orders might exceed trading fees.
Supported Tokens
Convert supports swapping between hundreds of tokens with broad coverage. Not just major tokens — many altcoins can be directly converted without going through USDT as an intermediary.
How to Use
Open Binance App > find "Convert" > select source and target tokens > enter amount > view the quote > confirm conversion.
The entire process takes seconds.
When to Use Convert
Small conversions — Convert is most convenient. Quick and hassle-free.
Beginners who don't want to learn order book trading — Convert's interface is simple and intuitive.
Important Note
For large conversions, compare prices between Convert and spot trading first. The larger the amount, the higher the absolute spread cost — exchange trading may be more economical.