MultiversX Tracker is Live!

Sell crypto for EUR vs sell crypto for BUSD

Binance

Cryptocoins Exchanges / Binance 290 Views

Hi,

I searched the internet but can't seem to find an answer.

I've added some money on my Binance account via bank transfer. So now I have some EUR on my account. I can use them to buy any crypto which which has a market crypto/EUR. Let's say BTC/EUR for the example.

Now let's say I want to sell back my BTC to secure some profit. What is the purpose to sell on the BTC/BUSD market instead of selling on the BTC/EUR market ?

I read on the Binance website that they do not offer crypto to FIAT conversion so stablecoins are used for that purpose... But from what I see, I definitely can sell my BTC to get back EUR, without sending them back on my bank account (so no additional fees). If I'm not wrong, I can keep EUR on my Binance account (unless those EUR are not real EUR? Are they hidden BUSD shown as EUR value? I don't get it.

To sumerize, my question is : what is the difference/drawback between :

1)"selling BTC on BTC/EUR market to get back EUR, but keeping them on Binance to buy some crypto later"

and

2) "selling BTC on BTC/BUSD market to get back BUSD, but keeping them on Binance to buy some crypto later"

EDIT : for me, my reference is EUR as it is my currency and I see more the fluctuations of the EUR/BUSD market as a possible loss when converting back BUSD to EUR the day I want to cash out to my bank account.

I would be grateful if you can enlighten me about this.

submitted by /u/JazzieStuff
[link] [comments]
Get BONUS $200 for FREE!

You can get bonuses upto $100 FREE BONUS when you:
πŸ’° Install these recommended apps:
πŸ’² SocialGood - 100% Crypto Back on Everyday Shopping
πŸ’² xPortal - The DeFi For The Next Billion
πŸ’² CryptoTab Browser - Lightweight, fast, and ready to mine!
πŸ’° Register on these recommended exchanges:
🟑 Binance🟑 Bitfinex🟑 Bitmart🟑 Bittrex🟑 Bitget
🟑 CoinEx🟑 Crypto.com🟑 Gate.io🟑 Huobi🟑 Kucoin.



Comments