A recent tweet by the largest cryptocurrency exchange, Binance made it known that Users can now easily convert LUNC and USTC to Bitcoin, Binance USD (BUSD), and Tether (USDT) without paying any fees.
The new development was made known on its official website that Binance now adds Terra classic (LUNC) and UST classic (USTC) to Binance Convert.
Facts About Binance Convert
it is a device where exchange users can quickly convert one crypto to another. However, this service is different from trading but basically for converting one coin to another. The incident of this new development indicates that the exchange is looking for more ways to support Terra’s classic.
How To Use Binance Convert
- On the Binance website, users can click “Trade” and select “Binance Convert” from the top menu.
- On mobile, open your mobile app and tap “Trade” to select “Convert.”
According to the recent post by Cryptolifedigital, Binance has decided to apply tax burn on all on-chain transactions such as deposits and withdrawals. However, the community did not find it interesting as they wanted Binance to use burn on LUNC and USTC off-chain transactions like trading.
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Following the reaction of the LUNC community towards the previous support of the Binance, the exchange came to unveil the possibility of implementing Terra Luna Classic Burns On Trading.
There has been massive LUNC staking over time in the quest to get the token revived by the community. According to the tweet shared by LUNC staking, the number of tokens staked has reached 534.29 billion LUNC.