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Tired of Crypto Dust? Enter NDAX’ New Dust Conversion Feature

Apr 18, 2024
byNDAX Labs

We're excited to announce the launch of a new feature that’s been in the works (and highly sought after) for some time... NDAX’s "Dust Conversion" feature—a nifty little tool designed to help you optimize your portfolio.  

Dust Conversion tackles the common frustration of having small, unusable crypto balances left over from your trades, known as "crypto dust." These tiny remnant amounts of random crypto tokens—often below the minimum tradable quantity—have historically been trapped in your wallet, unable to be swept up into a metaphorical ‘larger pile’, and therefore, utilized

But no more. With Dust Conversion, you can now consolidate these tiny balances into the internet’s favorite currency: The Satoshi—smaller units of bitcoin (BTC)... And this in just a few clicks, giving you more control and flexibility over your portfolio than ever. 

How Dust Conversion Works 

Accessing the Dust Conversion feature is simple. For mobile app users, you'll find it readily available in the quick actions menu. Desktop traders can access it seamlessly integrated into your wallet interface on our web platform. 

When you open the Dust Conversion screen, you'll be presented with a comprehensive list of all your eligible assets. Each one will be shown in its original form, along with the equivalent amount it would convert to in ‘Sats’, as they’re called. (Sats is short for ‘Satoshis’; the smallest unit of BTC. Just like there are 100 cents per dollar, there are 100M ‘Sats’ per bitcoin.) 

From here, you have the flexibility to choose which Dust asset you want to convert—whether that's consolidating your entire dust portfolio or just selecting specific balances. After confirming the conversion, the process happens instantly, and you'll see the equivalent BTC value reflected in your wallet balance. For example, 1 Ether currently trades for less than 5M Sats (since 1 bitcoin contains 100M Sats, 1 Ether—5M Sats—is 0.05 BTC. If you converted 0.0001 Ether dust therefore, you would see your Bitcoin wallet credited with 5,000 Sats. (1 ETH = 5M Sats, 0.0001 ETH = 5K Sats.) 

This user-centric approach empowers you to take more control of your digital asset management. No longer will those pesky, hard-to-use balances clutter up your portfolio. Instead, you can optimize your investments by converting dust into a more liquid and widely-adopted cryptocurrency; Bitcoin Satoshis. 

The Benefits of Dust Conversion 

Dust Conversion solves a common pain point for cryptocurrency users. By allowing you to easily convert those small, unusable balances into BTC, you can: 

- Tidy up your wallet and simplify portfolio management  

- Unlock the value trapped in Dust and put it to better use 

- Increase your overall asset liquidity and trading flexibility 

Overall, Dust Conversion empowers you to ensure every bit of your crypto investment is working for you. No more wasted Dust—just a cleaner, more efficient digital asset portfolio. 

We're proud to offer this innovative feature as part of our ongoing commitment to enhancing the user experience on our platform, whether through transparency or flexibility.  

If you have any questions about Dust Conversion, please don't hesitate to reach out to our stellar team of Canada-based customer support. 

What Are Bitcoin Satoshis (“Sats”) and Why They Matter 

Unless you're a seasoned cryptocurrency veteran, the term "Satoshis" (often shortened to "Sats") may be unfamiliar to you. But as Bitcoin continues to grow in adoption and popularity, understanding this fundamental unit of the world's premier digital currency is becoming increasingly important. 

So what exactly are Satoshis, and why should you care about them? 

The Building Blocks of Bitcoin 

To start, it's helpful to understand the basic structure of Bitcoin. Bitcoin, the cryptocurrency, is divisible down to eight decimal places. The smallest possible unit is called a Satoshi, named after Bitcoin's mysterious creator, Satoshi Nakamoto. 

One Bitcoin is equal to 100,000,000 Satoshis. This means that as Bitcoin's value fluctuates, the Satoshi value also changes accordingly. (For example, if 1 BTC is worth $70,000, then 1 Satoshi is worth $0.0007. If 1 BTC is worth $0.5M, then 100 Sats are worth $0.5. If 1BTC is worth $1M, then you guessed it, each Satoshi is worth 1¢.) 

Why Satoshis Matter 

You may be wondering, why is it important to understand this tiny subdivision of Bitcoin? Let's look at a few key reasons: 

1. Affordability and Accessibility 

The ability to divide Bitcoin into Satoshis makes it more accessible to the average person. For those who can't afford a full Bitcoin—and 1 full Bitcoin’s affordability is already scarcely affordable by most—one can still participate in the Bitcoin ecosystem by acquiring and transacting in smaller Satoshi amounts.  

This low barrier to entry is a big part of Bitcoin's appeal, especially for those new to crypto. It allows anyone, regardless of their financial means, to get involved and start building their Bitcoin holdings, no matter how small. 

2. Microtransactions and Micropayments 

The Satoshi unit enables Bitcoin to be used for microtransactions and micropayments—something that's not as practical with other payment methods. Things like paying for a cup of coffee, digital content, or even sending small donations become feasible with the granularity provided by Satoshis. 

This "programmable money" aspect of Bitcoin, powered by Satoshis—see “inscriptions” or ‘Ordinals’ for more research on this—opens up a wide range of innovative use cases that were previously difficult or impossible. It's a key reason why Bitcoin has been and will no doubt continue to play a foundational role in the emerging Web3 and decentralized finance (DeFi) ecosystems. 

3. Long-Term Savings and Growth 

Perhaps most importantly, Satoshis allow Bitcoin holders to accumulate value over time, even with small recurring purchases. By dollar-cost averaging into Bitcoin in Satoshi increments, users can steadily grow their holdings without the need for large lump sum investments.  

Understanding the Role of Satoshis 

As Bitcoin continues to mature and expand its real-world applications, a firm grasp of Sats will become increasingly important. This fundamental unit of the Bitcoin network underpins the cryptocurrency's divisibility, affordability, and long-term growth potential—all of which are critical to driving mainstream adoption. 

So the next time you hear the term "Satoshis" or “stackin’ Sats,” remember that you're dealing with the building blocks of the world's most well-known cryptocurrency. 

Disclaimer: This article is not intended to provide investment, legal, accounting, tax or any other advice and should not be relied on in that or any other regard. The information contained herein is for information purposes only and is not to be construed as an offer or solicitation for the sale or purchase of cryptocurrencies or otherwise.