Binance just debuted a new option which lets users capture their crypto dust and put it to use by converting it Binance’s BNB token.
On April 23rd Binance CEO Changpeng Zhao revealed that users would finally be able to collect their finite fragments of various tokens by using Binance’s convert to BNB option. Traders accrue crypto dust when the amount they wish to trade is below exchange trading limits or the balance of tokens are not high enough to cover transaction fees. These leads to tiny amounts of assorted tokens uselessly sitting on exchanges and hard wallets.
Basically, traders will be able to convert cryptocurrency amounts less than 0.001 BTC into Binance’s BNB token by clicking the ‘Convert to BNB’ option on the dashboard. The process is fairly straightforward: Click ‘Convert to BNB’, select the ‘crypto-dust’, view the estimated value of BNB to be received and the fee, then proceed to convert.
It’s safe to assume that this most recent addition will be well received by cryptocurrency investors as the accumulation of crypto dust piles is familiar to all who dabble in crypto. Up to this point, not having the option to collect and spend your own crypto was basically the equivalent of a shop keeping the small change after purchasing a soda and a bag of chips so while this option is well overdue hats are tipped to Binance for taking the lead and providing a solution for this issue.