How to convert crypto on Binance

After trading, there may appear a small balance, we would like to call it “dust”, for example 0.000374 USDT. As a rule, “dust” is not enough even to pay the fee. Therefore, it accumulates on the trader’s account and lies there idle. Let’s talk about how you can benefit from unnecessary cryptocurrency balances.

Attention! This article is for informational purposes only and does not contain recommendations or calls to action.

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Why do we convert crypto on Binance?

Cryptocurrency balances cannot be traded. However, they can be beneficial. Binance exchange has a feature to convert “dust” into BNB (Binance’s token). BNB can be used to pay fees in the spot market and the discounted quarterly futures market. We wrote more about this here.

How to Convert Crypto «Dust» on Binance

In order to convert cryptocurrency dust, follow Binance exchange website, hover over “Wallet” in the top menu of the main page and click on the “Fiat and Spot” tab.

Here you will find “Convert Small Balance to BNB”. Click on it.

On the balances page, select specified coins for converting to BNB. You can convert all available coins at once if their value does not exceed 0.001 BTC. After selecting the coins, click the “Convert” button.

Note: you can convert “dust” on Binance once a day.

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A confirmation window will be appeared, click the button “Confirm”.

Done! Cryptocurrency dust converted to BNB.

Note: only the coins included in the list of trades can be converted to BNB. Tokens excluded from the list cannot be converted.

How to use BNB to pay Binance fees

As already mentioned, BNB can be used to pay discounted fees on Binance. There is currently a 25% discount on spot market fees and 10% discount on perpetual futures market.

In order to enable the BNB fee payment feature, follow Dashboard.

Scroll down the opened page. There you will find a switcher to enable/disable BNB fee payment.

Done! The feature of using BNB to pay fees is enabled.

Conclusion

All “dust” is accumulated by almost all active traders. Converting cryptocurrency dust into BNB to pay fees is a good way to save on costs.