How to Convert Small Balances to MX: A Complete MEXC Guide
Key Takeaways:
- MEXC's small balance conversion feature allows users to consolidate small asset balances in their accounts into MX.
- Each asset balance must be worth less than 1 USDT, with a total limit of 10 USDT per conversion.
- You can use the feature up to five times within 24 hours and select up to 10 assets per conversion.
- A 2% fee applies to small balance conversions.
- The feature is available on both the MEXC website and app, with a straightforward process suitable for beginners.
1. What Is Small Balance Conversion to MX?
Trading often leaves small amounts of crypto in your Spot account. These low-value balances may fall below the minimum trading amount, making them difficult to sell through regular trades and leaving them unused in your account.
To help users manage these balances, MEXC offers a small balance conversion feature. Following the conversion rules, you can convert multiple small balances into MX, MEXC's platform token, in one go and put these unused assets to use.
MX is the platform token issued by MEXC. Holding MX provides access to benefits such as trading fee deductions and new token airdrops, making small balance conversion a practical way to make better use of your assets.
2. Rules for Converting Small Balances to MX
Before using the feature, review the following conversion rules:
1) Asset value limit: Each asset balance must be worth less than 1 USDT. Each asset can only be converted once within 24 hours.
2) Limit per conversion: The total value of a single conversion cannot exceed 10 USDT.
3) Usage limits: You can use the feature up to five times within 24 hours and select up to 10 assets at a time.
4) Unsupported assets: Assets held in sub-accounts, delisted assets, assets with suspended deposits and withdrawals, and assets whose prices have fluctuated by more than 300% within the past 12 hours are not eligible for conversion.
5) Fee: A 2% fee applies when converting small balances to MX.
3. How to Convert Small Balances to MX
3.1 On the website
1) Log in to the MEXC website. In the upper-right corner of the homepage, click Wallets and select Spot.
2) On the Spot page, click Convert small balances to MX on the right side of the Assets List.
3) Select the small balances you want to convert to MX. The page displays the estimated MX amount and conversion fee in real time. Review the details, then click Convert.
4) Click Convert Now.
5) Once the conversion is successful, click Confirm to finish.
3.2 On the app
1) Open the MEXC App and tap Wallets on the homepage.
2) Under Spot, tap Convert small balances to MX.
3) Select the small balances you want to convert, then tap Convert at the bottom of the page.
4) Tap Convet Now.
5) Once the conversion is successful, tap Confirm again.
After the conversion, you can view past transactions under Conversion History on the conversion page. The MX you receive is automatically credited to your Spot Account.
4. Small Balance Conversion to MX FAQ
4.1 Which assets can I convert to MX?
Small balances in your Spot account worth less than 1 USDT per asset are eligible for conversion.
4.2 Is there a fee for converting small balances to MX?
Yes. A 2% fee applies when converting small balances to MX. The estimated fee is displayed in real time on the conversion page.
4.3 How many times can I use the feature within 24 hours?
You can use the feature up to five times within 24 hours and select up to 10 assets per conversion. Each asset can only be converted once within the same 24-hour period.
4.4 Why can't I convert some of my assets?
Assets held in sub-accounts, delisted assets, assets with suspended deposits and withdrawals, and assets whose prices have fluctuated by more than 300% within the past 12 hours are currently not supported. Asset balances worth 1 USDT or more also cannot be converted using this feature.
4.5 Where is the MX credited after conversion?
Once the conversion is successful, the MX is automatically credited to your Spot Account. You can use it for trading or access the platform benefits available to MX holders.
4.6 How is the conversion rate calculated?
The system values each asset using its real-time USDT price, then converts that value into the corresponding amount of MX.
4.7 What are the benefits of holding MX?
MX is MEXC's platform token. You can use MX to pay trading fees and participate in events such as Kickstarter to earn new token airdrops and unlock additional exclusive benefits.