Editors News- Users can convert the cryptocurrency they currently own into another crypto.
- To purchase crypto on the Binance Lite edition of the app is through Binance Convert.
Binance has expanded Binance Convert to include Terra Classic (LUNC) and Terra Classic USD (USTC). Users can now exchange LUNC and USTC for free against BTC, BUSD, USDT, and any other supported tokens through Binance Convert.
Users can quickly convert the cryptocurrency they currently own into another cryptocurrency using the Binance Convert service. The main way to purchase cryptocurrency on the Binance Lite edition of the app is through Binance Convert, which also powers the Convert feature of the Binance app. A crypto transaction on Binance Convert may be done in just four steps.
To start it, visit the Binance website, click Trade, then choose Binance Convert from the pop-up menu begin. Simply launch the Binance App on your mobile device, choose Trade, and then choose Convert from the top menu. In the second step, You have the option of entering either the number of tokens you want to use or obtain.
The price quote for the transaction you’re thinking about will subsequently appear in the third stage. You have 5 seconds to accept the quote and complete the transaction. To acquire a new rate if the five seconds have passed, click Refresh. Finally, click Convert. You may see the cryptocurrency you purchased in your Spot Wallet after the transaction, which takes less than a second.
Tax Burn for LUNC and USTC
Last week, Two prominent cryptocurrency trading platforms, KuCoin and Gate.io, declared their support for the 1.2% tax burn proposal put up by the Terra Classic (LUNC) community. All on-chain exchanges between wallets and smart contracts, including those using LUNC and USTC, will be subject to the proposed 1.2% Fee Parameter Change.
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Source: https://thenewscrypto.com/binance-convert-includes-lunc-and-ustc/