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Usha Yadav
Sep 12, 2022
by Usha Yadav

Binance Adds Terra Classic (LUNC) and UST Classic (USTC) to Binance Convert

Binance LUNC USTC

Table of contents

  1. Binance Convert Service
  2. Support For Terra Classic
A recent notification states that Binance has added Terra classic (LUNC) and UST classic (USTC) to Binance Convert. Users can now quickly and without fees convert LUNC and USTC to Bitcoin (BTC), Binance USD (BUSD), and Tether (USDT).

Binance Convert Service

Users of the exchange can instantly convert one cryptocurrency to another using the Binance Convert service. This service, which differs from trading, is only intended for exchanging one coin for another. The addition of LUNC and USTC to Binance convert demonstrates the exchange's continued interest in Terra Classic support. Users can click "Trade" and choose "Binance Convert" from the top menu on the Binance website to access the feature. Open the app on your phone, then hit "Trade" to choose "Convert."

Support For Terra Classic

The exchange will apply tax burn to all on-chain transactions, including deposits and withdrawals, according to a statement from Binance.

The Terra Classic community, on the other hand, was not pleased with Binance's choice since LUNC supporters wanted Binance to impose burn on USTC and LUNC off-chain transactions, such as trading. By stating that it may review its decision to implement Terra Luna Classic Burns on trading, Binance allayed the community's worries.

The addition of the LUNC/USDT trading pair by the exchange allows significant investors to trade and invest in Terra classic as the trading volume of LUNC on Binance has surpassed $1 billion. Additionally, LUNC perpetual contracts with up to 25x leverage were introduced by Binance Futures.

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Binance Adds Terra Classic (LUNC) and UST Classic (USTC) to Binance Convert
Usha Yadav
Usha is a diehard crypto enthusiast and has been actively writing on different facets of the blockchain and crypto world. She has authored many research articles on cryptocurrency and aims to provide informational and quality content to readers. She firmly believes that crypto has a great potential to redefine the world of finance and blockchain.

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