Topic: BINANCE sell fractions (Read 439 times)

It is good to see the fractional alt "dust" coins problem bug was solved more than a year ago.

https://www.binance.com/userCenter/dust.html

Logically, you will never recover delisted alt coins, since they do not exist anymore in Binance.

I agree with some comments, this should be addressed. one of the bigest exchanges out there so imagine how much money is stuck in it. And many will follow the conspiracy theory, they are keeping all the cryptos for themselves...

I think selling fractions or not whole electronic coin is a great idea because there are still in the community cant affor to invest through this they can give a chance to other people to earn income.

Just put the exact number on that field, or select the amount to sell based on 25% - 50% or just 100%, that is the most easiest way to make it happen (and came on, it is not difficult)

you just see the tutorial on Youtube, how to trade its way in Binance.

if the explanation in this thread will probably be long in its word. and hopefully with your coin can make a profit for you.
Thanks.

You can convert your "dust" to BNB (https://www.binance.com/userCenter/dust.html)


...
Check the price of your coins at https://coinval.co

I'm not sure why so many of you all are defending this exchange here. This sure smells like a scam to me. Almost like office space where they try to steal all of the fractions of pennies...Binance has the lowest fees at just 0.1% but the amount of currency that will remain in their wallets forever will certainly add up over time due to this...bug?

Let me explain what this is not. Traders are not getting orders rejected because the order size is below minimum. (Example: purchase 48.869 AMB on AMB-BTC. Next set a limit order for the same quantity at a higher price? Nope. Exchange will only allow integer quantities in the order; I place the order for 48. I shall remain the proud owner of 0.869 AMB for life (btw, way less than the minimum required to withdraw...so).

So the conspiracy theorist might say that these fractions of coins are being stolen. Even if for the next 20 years I keep a balance of 0.869 AMB on Binance, there is very little in the way of proof that the exchange is holding 0.869 on the AMB blockchain on my behalf. The exchange will know just how unlikely it is that I will ever be able to sell this tiny amount of AMB. So why wouldn't they wholesale it? It is fully possible (in my mind) that the exchange has profited from my trade. (Btw, 0.869 is 1.8% of 48. So the 0.1% fee I paid for this coin is nothing compared to this value loss.)

I would really like Binance if it was not for this problem. Hopefully this is not a scam and just a bug that needs to be fixed. But it's aggravating to see how many people on this thread are minimizing the magnitude of the problem or blaming the users. This is definitely an issue with the exchange that must be resolved.

There is a solution for this tricky way of these exchanges. for instance if you have 0.003 xcoin and you are able to sell at least 0.01 xcoin on this exchange.
Then the solution is you will buy 0.007 xcoin and make it 0.01.
Sell all and leave this exchange...
Or you will arrange your exhange portions according to the minimum tresholds given by exchange not to have the same problem..

There is really nothing you can do about it for now and maybe in the future, binance may provide a way to sweep them or be able to convert them at least to BNB, but presently, see it as a way of helping you to hold some of those coins after a trade as they can end up worthing something reasonable in the long run.

However, if you end up having fractions as a result of the fee that is taken, your best bet is to have BNB in your account and enable removal of BNB as fees, at least that won't touch your whole coin and will even reduce the fee you pay. This is what I personally do but for the ones you already have, nothing you can do about them than to keep holding for now.

Note that it is impossible to "match remainders into integer figures" for recovering these quantities. They are lost for us users (not for Binance):

 - Note that indeed you only can sell and purchase integer quantities of most Alt coins (or specific fractions, which keeps the problem alive). For XMR (Monero) for example, you indeed can purchase fractions, though there is still smaller significative fractions held by Binance.
 - Note also that putting "." or "," or any character is illegal in the Sell and Purchase, when integer quantities are required by the Alt coin.

Check this calculation:

 - Set X as your remainder in the Alt coin (e.g. X=0.9820),
 - Set R as the current fee you are paying at the chosen exchange (e.g. R=0.01%=0.001),
 - Calculate Y=X/R (e.g. 0.9820/0.001=982),
 - Y (e.g. Y=982) is the total cumulated amount of Alt coins you need to purchase for being able to finally complete and sell the fractional remainder.

Hence, this is equivalent to multiply by 1/R (e.g. 1000 for 0.01% fees).

This is a huge amount of money (e.g. 1000 times) in transactions compared with the fraction held by Binance.

The fee you have to pay for proceeding with this operation (e.g. 982*0.001=0.982) is exactly the same as the held fraction, making impossible (lets say, impractical at the best) to recover the fractional amount, from users side.

Because this is impossible to buy and sell fractional parts on the Alt coins because every Alt coin has their own automated mechanism accepting only integers in the blockchain transaction, this also cannot be fixed. This would require a blockchain fork at every coin. This will never happen.


This is a problem for us as users, but not for Binance, who can proceed with these transactions in a trivial manner, without these fees, assigning a given amount of money, lets say 1000 Alt coins for all the users, and repeating this task for every user.
Again, Binance could charge a minor commision on the fractionals for performing this massive liquidation operation, which would still be fair for everybody.
For binance, proceed a liquidation transaction with 1000 Alt coins is minor, but for individual users this is a expensive transaction.

So Binance guys, go hands at work and fix this great problem NOW.


Hyprfrcx

a big problem when using binary exchanges ... when trying to redeem to bitcoin, can not exchange all that specific coin, there is always a small portion of the coin. they do not allow trade They say somewhere in reddit that they realize that this is a problem and they want to fix it in the future ... but when ??

I think it is the same as the others say. It will depend on the coin.
If it valuable with just fractions then it can be done.
Want to know more about this.
How about the low traders. So they wont have the chance to trade small amounts.
What if you just forget the fractions or it was divided because of the fees.
There should be answers for this.

I also have a problem activating the account

There is a minimum amount for each currency.

You cannot sell it because of the minimum trade amount and order value, in order to sell it, you must have more than 1 VEN and it's order value should be equal to or be more than 0.002 BTC( https://support.binance.com/hc/en-us/articles/115000594711-Trading-Rule).
The only way i think you can get rid of VEN is by buying more of it and then selling it off.

unfortunately for several weeks I can not pass the verification on this resource. Maybe I should get a drink in technical support?

There's no way to go around it beside depositing more into the coins you have fractions on then withdrawing the whole amount.
It's so annoying ,how when ever you sell 100% there will always be fractions of that coin left that are stuck in there. Binance should really do something about it, As a trader with small amounts of money those fractions do matter to me and it's sad seing them sitting there stuck doing nothing.

I've tried so much with . and , none are accepted.
Only problem with Binance.

You can't.

There is a minimum amount of coins that you are allowed to sell of each coin. I think the minimum must equal .002(?) BTC. If you want to get rid of your micro holdings, you have to deposit more of that coin in order to sell it.

Well, check if the decimal you are using is wrong .. for example . instead of , . The solution might be very simple.
Good luck.