Post
Why does the BTC rate change when converting? What I learned from my own experience
Hello, community! 👋
Recently, I was making a transaction on Binance Convert (as you can see in the screenshot) and I had a question that many of you have surely had: Why, if I see a Bitcoin price in the market, when I hit the "Convert" button, does a different rate appear? 🤔
At first, I thought it was an error, but after doing a bit of "trial and error" and understanding how the platform works, I learned that there are 3 key reasons behind this:
1️⃣ The "Spread" (Difference): Platforms have a buy price and a sell price. That small difference is the cost of immediate liquidity. The price we see in the general chart is usually an average, but when converting, we are assigned the actual execution price at that second.
Recently, I was making a transaction on Binance Convert (as you can see in the screenshot) and I had a question that many of you have surely had: Why, if I see a Bitcoin price in the market, when I hit the "Convert" button, does a different rate appear? 🤔
At first, I thought it was an error, but after doing a bit of "trial and error" and understanding how the platform works, I learned that there are 3 key reasons behind this:
1️⃣ The "Spread" (Difference): Platforms have a buy price and a sell price. That small difference is the cost of immediate liquidity. The price we see in the general chart is usually an average, but when converting, we are assigned the actual execution price at that second.
Disclaimer: Includes third-party opinions. No financial advice. May include sponsored content. See T&Cs.