If you’ve done a lot of cryptocurrency trading on Binance you may have ended up with some partial coins or such small amount of a coin that you can’t trade it. Binance wouldn’t let you trade less than 1 coin, even if you use the market rate (which allows you to buy/sell less than the .002 BTC minimum). Meanwhile this so called dust is still worth money!
Luckily, Binance offers a way to clean up some of that dust!!
What coin dust can be converted on Binance?
Binance offers you the long wished for feature to convert coins that you hold with a value lower than 0.001 BTC to BNB! This feature is till now limited to coins that are a regular BNB trading pair. You can see the BNB trading pairs in the Basic Exchange area. Another options is to check your Balances and click in the coin you want to check ‘Trade’. You will see if it’s possible to trade the coin against BTC, ETH and BNB.
By converting your dust to BNB you can trade on the Binance BNB pairs. Giving you the opportunity to harvest from your dust!
Step by step convert GUIDE:
The new feature is currently exclusive to the exchange’s desktop and web platforms. Nevertheless, plans to integrate it into the mobile app are in the advanced stages.
Step 1. Log in on your Binance account
Step 2. Go to ‘Funds’ -> ‘Balances’
Step 3. On top of the balance table you see this:
Step 4. Press “Convert to BNB”
Step 5. A new page will be loaded with the list of coin dust that you can convert.
I already converted some dust, so thats why my page looks like this:
Step 6. Pick the coins that you want to convert to BNB, check the amount of BNB you will get & press convert
Step 7. Check your ‘Balances’ to see if the dust is gone & the amount of BNB.
Optional Step 8. Check our article on “How to trade on Binance?’ Happy Trading!
Increase of Binance BNB value?
After this unexpected feature release on 24-4-2018, the price of $BNB is expected to shoot up. Whether it was meant to create a chain reaction that would boost $BNB’s value or not, the introduction of the converter could not have come at better time. Binance is renowned for constantly being ahead of the game, with features like this the keep pushing the cryptocurrency exchange market.