Convert (instant swap)
Also called: convert · instant swap · quick buy · flash swap
Definition
Convert is an exchange feature that swaps one coin for another at a quoted price in one click, without using the order book directly.
This entry is shown in English.
How Convert works
When you use Convert, the exchange shows a quote such as 1 ETH for 3,000 USDT, valid for a few seconds. If you accept, the swap executes at exactly that rate. You do not choose between maker or taker orders or worry about partial fills.
Many exchanges advertise Convert as zero fee, but the cost is often built into the quoted rate as a spread. Compare the quote with the current order book price to see the difference. For small amounts, the convenience may be worth it. For larger trades, a limit order on the spot market is often cheaper.
Convert also helps with pairs that have no direct market, because the exchange routes through other pairs for you. Some exchanges let you convert small leftover balances, often called dust, into a single coin. Limits, supported coins and spreads differ by exchange.
Example
Suppose the spot order book shows ETH at 3,000 USDT and the Convert screen quotes 2,985 USDT for 1 ETH with zero fee. The spread is 15 USDT, or 0.5%. Selling 2 ETH by Convert gives you 5,970 USDT. Selling on the spot market with a 0.1% taker fee gives about 6,000 minus 6, which is 5,994 USDT, assuming no slippage. The spot trade earns 24 USDT more.
Common mistakes
- Assuming zero fee means zero cost when the spread is in the quote.
- Using Convert for large trades where a spot limit order would be cheaper.
- Waiting too long on the quote screen and getting a refreshed, worse price.
Learn and practise
FAQ
Is Convert cheaper than spot trading?
Not always. Convert is convenient but often includes a spread. For larger amounts, spot trading with limit orders is usually cheaper.
Does Convert have fees?
Many exchanges show no separate fee, but the price you receive can be slightly worse than the market. Compare the quote with the order book.