World’s leading crypto exchange announced on Tuesday that it has added eight new crypto assets to the convert function, which means that these cryptocurrencies can now be converted to the other ones. This will improve the flexibility for traders, especially those who prefer trading as per market movements.
— Binance (@binance) February 11, 2020
The eight new crypto assets added to the convert function include ETH, XRP, TRX, XLM, BNB, LTC, ADA, and XVG. Instant conversion is one particular area where Binance really needs to focus on improving, as the crypto exchange, like most others in the market, lacks enough options in this regard. The crypto industry needs potent liquid and flexible options to use digital assets in real-time.
Usability is counted among the foremost factors that will decide the success of the decentralized currencies globally, and therefore, providing ample of options has become a necessity for trading platforms. As Bitcoin is extending its already long stagnation period, demand for usable coins like Ripple, TRON, Stellar, etc. is likely to expand.
Ripple, for example, has joined hands with more than 200 banking and non-banking financial institutions across the globe, consolidating the fragile crypto payments sector at large. Therefore, the usability of other tokens will substantially increase if they can be easily converted to functional tokens like XRP, SWIFT, or XLM. Since Binance has always been at the forefront of innovation in the industry, the addition of many more digital assets to the conversion function is expected soon.