Binance Dust – How to Exchange Small Crypto Assets into BNB

18th May 2018

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Table of Contents

What Is ‘DUST’?

Dust on the Binance Exchange refers to a balance valued less than 0.001 BTC and classed as a small balance. Most cryptocurrency exchanges will have a minimum trade requirment and these small balance are unable to be traded or transferred back to a wallet.

Where does ‘DUST’ come from?

When trading certain coins on Binance you can only trade whole Crypto coins as opposed to fractions of a coin. Once the trade has been confirmed Binance will take away their trading fees and this will cause you to have fractions of untradeable crypto. You may also receive fractions of coins via airdrops. Also holding the likes of NEO on an exchange will generate NEO GAS.

Why Should I Convert ‘Dust’?

Binance will now convert all your small crypto balances ‘DUST’ and convert it into BNB tokens for a small fee. You can either HODL or convert into a cryptocurrency of your choosing, such as Bitcoin, Ethereum etc.

Binance Dust BNB — Binance Coversion Fee

What is Binance?

Binance is an international multi-language cryptocurrency (digital asset) exchange service, founded in China by Changpeng Zhao. In July 2017, Binance raised $15 million dollars in an Initial Coin Offering (ICO) for its ERC20 BNB token. BNB has since soared from about 10 cents at ICO to $10+, giving it a market capitalization of over $1 billion. Its 1.4 million-transactions-per-second capability has attracted 6+ million users, making it the world’s largest crypto-exchange. Binance’s trading volume is no longer dominated by China. Today, 38% of Binance’s users are in the U.S with its second-biggest market in Japan.

How to convert your Dust, video tutorial

In this Binance video tutorial, I show you how to convert your small Crypto assets (also known as dust) into Binance’s BNB Tokens, which can be held or converted into your favorite cryptocurrency.

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♥ Louise Elizabeth (Crypto Lou) ♥

Written by LouiseElizabeth

Louise created the Every Bit Helps YouTube channel back in 2017, after finding the process of buying Bitcoin difficult. Therefore, in an aim to help others, she hopes that her tutorials will make the process of buying, selling and storing crypto a lot easier for newbies in the future.

After spending 20 years working in London in cyber security, she left the corporate life after having her second child in 2018. Louise now travels the world with her two small children trying to make the most out of life.