All the dirt on crypto dust

By Spitkitten | cryptokitten | 21 Aug 2020


I'm no clean freak, but ugh @ dust -- both the regular kind (like 95% or so of dead skin, blegh) and the crypto kind.

At least I can dustbust up my bio detritus.

I dunno what I'm going to do with the crypto dustbunnies hiding in the corners of my accounts.

I've accumulated a few -- you know, all those itty bitty, fractions of currencies leftover when you convert, trade, or move crypto around. Like the point zero zero zero zero zero two ETH you have in 1 wallet leftover from gas fees.

Or the 30 cents worth of ZEC you got in some random airdrop...too little to do anything with, because the fees are bigger than the value, but -- and maybe this says more about me than anything else -- that you can't just, well, abandon.

I mean, well, right now, aside from a very few solutions (which I'll get to in a sec), you kinda have no choice but to abandon. Or hodl. For whatever that's worth.

I swear I'm not a cheap control freak. Much. But it irks me that I have a dusting of USDT in a Coinbase wallet, a sprinkle of ETH in Kucoin, and, like I gracefully honked about here, my one penny of zcash in my "regular" wallet. And I don't even do much sending/trading. I know plenty of folks have accumulated more dust than I have, and wind up with buffets of untransactable dust.

How much liquidity would be added to markets if all the dust in all the wallets all over were able to, easily, suddenly, be usable? Sigh.

So, what are our choices in dust, uh, cleanup?

1. Weep over all your lost ha'pennies. Consider them sacrifices to the gods of defi.
2. Make an actual money deposit to bring each currency up to its minimum transaction level, and then, yanno, do something with it.
3. Consolidate all your dust(s) into a single transaction output, lumping them together for additive value, then, profit.

Three is obvs the answer, right? Crack a beer, go home.

Nerp.

Where and how you can do this sensical sweep-up is limited to a few wallets/exchanges (and never in custodial wallets, like Coinbase).

AFAIK, you can:
- use Electrum, a simplified payment verification (SPV) wallet to create one transaction
- use Crypto.com, and convert your itty-bitty pretties into in-house CRO
- go to Binance, and do the same, only get it in their BNB

All of these are fine, fine choices.

If you are already using them, that is.

If your dust bunnies lurk elsewhere, then bully.

You're back to "this is not enough value to transact" to send the bits from, say, Atomic or Trust Wallet, to Electrum, Crypto.com, or Binance.
In that case, we're left with: weep or fatten up.

There's another problem with dust I haven't mentioned -- the "dusting attack!" -- which I'll write on next. It's a really stupid, I mean interesting way to get yourself doxxed (or to get a few hundredths of a cent as a "gift," depending on how you react).

Did I miss any good dust(pans)? Comment, say hi, and we can weep together, if you're into that sort of thing.

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Spitkitten
Spitkitten

Nerd, bon vivant, sci fi writer. Dynamite with a laser beam.


cryptokitten
cryptokitten

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