This is a post in my Understanding ProfitTrailer series. In the post I will explain how to minimize dust while trading on the Binance exchange with ProfitTrailer.
Dust is fraction of a coin that cannot be sold due to a limitation Binance has for small cap coin. Small cap coins cannot be traded in fractions but only in whole numbers. In ProfitTrailer fractions are caused by trade fees. Accumulating fractions means that you cannot sell the dust off. Essentially dust is tying up funds that you could be using to trade with. So it is important avoid dust.
Dust can be avoided easily in Binance by switching to fees being paid in BNB (Binance Coin). This can be done in a few simple steps.
1. Turn on BNB to pay for fees [Binance]
Go to your Binance Account page and turn on “Using BNB to pay for fees”.
2. Buy BNB [Binance]
Buy a single BNB coin. This will be enough to last for many trades.
Note: Depending on the BNB price you might need to buy more than one to meet the minimum buy level.
3. Enable BNB for fees [ProfitTrailer]
Make sure BNB is excluded as trade pair, so that it is not sold off by ProfitTrailer. Add the following lines to the PAIRS.properties file, which can be found in the trading folder.
# Make sure that BNB is not traded as we need it for fees to avoid accumulating dust BNBBTC_trading_enabled = false # Lets make sure BNB does not show up in the Pair Log or Dust Log ALL_hidden_pairs = BNBBTC
That’s it, these simple steps will ensure dust accumulation is avoided/minimal.
Look out for my next post in the series Understanding ProfitTrailer.