Binance has implemented a new feature recently that allows users to convert the leftovers and small amounts left in your wallet from trades into Binance Coin-BNB. If you own Binance Coin the transaction fees will be 50% cheaper when trading on Binance which means you save some money. You have probably noticed that every time you do a trade on Binance a small amount of the coins you trade are often left behind on your account and you cant do anything with these coins because there is not enough to withdraw them and the amount is to small to trade with.
When you login to your Binance account and check your Deposits you will see two new options -
Small balances and
Convert to BNB.
When you click on
Convert to BNB Binance will automatically convert all small balances equivalent to 0.001 BTC (about $9) to BNB.
You can then use that BNB in your future trades to pay for the fees which will be 50% cheaper compared to what you would pay without owing any BNB. This option to pay for fees is usually automatically activated in new accounts but you can check if this is the case with your account by going into your Settings and click on
pay fees with BNB. If this option is not selected, every time you make an exchange Binance will use the coin you are acquiring to pay for the fees and you end up getting a 1% smaller amount.
Here is a good video where this topic and many more are covered in great detail.https://www.youtube.com/watch?v=4Az2xwlk6QE&feature=youtu.be
