WazirX, in a recent announcement, had revealed the launch of a fairly demanded feature – converting crypto dust balances to WRX.
Crypto Dust For Dummies
Crypto balances with very minimal values are known as dust. Commonly, these balances are small, remaining amounts and lesser than the minimum withdrawal or trading volume. And as a matter of fact, even lesser than the trading payment fee.
As traders would already be familiar with – such balances are essentially worthless. They accumulate in our wallets but offer zero utility since they can’t be moved out. And if you’re an active trader involved in several coins, these numbers do add up to an amount you may not be perfectly happy to simply overlook.
No wonder then, that many have been requesting WazirX to allow for some way to utilize these balances and not let them go waste.
How to convert dust to WRX on WazirX
There are more than 100 tokens available for trade on WazirX. If a trader traded numerous crypto assets, it’s likely they may have dust balances from multiple assets in their wallet, outside the reach of either withdrawal or trade. Dust conversation resolves the issue by converting these balances into a single valuable token – WazirX’s WRX.
WRX, of course, has its uses – as the currency for trading fees, airdrops, and other rewards the exchange runs for WRX holders.
A stepwise procedure on how to convert dust or WRX:
- The trader should log into WazirX, then go to ‘Funds’ or Open WazirX Android or iOS app and then go to ‘Settings’ click on ‘Convert to WRX’ (the trader should ensure that the balance isn’t hidden)
- The trader should select the tokens he/she wants to convert to WRX
- Once the trader clicks on ‘Convert’, it’s done!
Note: Traders can convert balances with an entire (combined) valuation below 10 USDT to WRX only once in one day.