Binance is one of the top cryptocurrency exchange by trading volume. Today Binance Futures announces about the addition of six new cryptocurrencies to its Asset Conversion Function.
What is Asset Conversion Function?
Basically Asset Conversion is a function with the help of which traders of Coin-margined Futures Contracts converts X coin to Y coin directly. It basically saves time as it no longer requires to transfer your X coin out of your future wallet in order to convert it into Y coin and transfer it back to future wallet.
Asset Conversion Function is available on both Web and App platform of Binance. Here is the procedure on how to convert your X coin to Y coin:-
- Firstly you have to choose X coin which you want to convert.
- Enter the amount of X coin to be converted. (Maximum convertible quantity is equal to the available balance).
- Check the real-time exchange rate and the amount of Y coin that you will get.
- At last click on confirm to initiate the process.
At Binance real-time exchange rate keeps refreshing every 10 seconds. And if the real-time exchange rate and the displayed exchange rate has much difference within that time then the conversion process might fail.
Disclaimer: Koinalert’s content is only for information purpose in nature and should not be considered as investment advice. Do your own market research before investing in any cryptocurrencies. The author or publication does not hold any responsibility for your personal financial loss.