The word ‘dust’ in cryptocurrency is quite popular among traders and at times it can be really frustrating to have some left in your wallet after making a transaction. Today, let’s try to understand what is dust in cryptocurrency and how you can get rid of the dust stored in your wallet on WazirX Exchange.
What is Dust in Crypto?
In the language of cryptocurrencies, dust refers to tiny amounts of coins or tokens, so small that user’s don’t even notice it’s there. If we talk about Bitcoin, dust can be as small as 1 satoshi or 0.00000001 BTC, so a couple of hundred satoshi’s can be called as dust.
Mostly, in exchanges dust refers to the tiny amounts of coins that are left in the accounts of users after trading orders are executed. Often it’s so small that it’s not possible to trade them. However, recently the users of WazirX got an option to convert their remaining dust to WRX (utility token of WazirX) which they can use to pay for their trading fee or can trade or hold them.
Steps to convert Dust to WRX
- Log into WazirX and go to ‘Funds’ or Open WazirX Android or iOS app and go to ‘Settings’Select ‘Convert to WRX’ (make sure you’re not hiding small balances)
- Select the tokens you want to convert to WRX
- Select ‘Convert’ and it’s done! 🙌
I hope this was helpful !