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2021 Fixed Float Review • Benzinga Crypto

 | Local Business News

2021 Fixed Float Review • Benzinga Crypto

| Business News Today | News Today


FixedFloat is an automated exchange service where users can exchange one cryptocurrency for another without having to transmit any personal information. FixedFloat is not a broker or custodian, and they do not hold assets on behalf of clients. Instead, it offers lightning-fast transactions while maintaining user anonymity and privacy.

Platform users can simply enter their wallet address and select the 2 cryptocurrencies they want to trade. If you want to convert Bitcoin to Litecoin, just select Bitcoin and the amount you want to exchange under the “Send” tab and Litecoin under the “Receive” tab. Enter your Bitcoin wallet address (or use the QR code) and choose a fixed rate or a floating rate.

The fixed rate fixes the price of your cryptocurrency for a period of time, so the price you see is the price you get when the transaction is complete. The main thing is that the trade appears in the mempool within 10 minutes and before that the market rate has not changed by more than 1.2%. Otherwise, you will be offered a choice: continue the exchange at the market rate at the time of the choice, or make a refund.

The variable rate option has a lower commission, but you don’t receive a final price until the trade is confirmed (which could mean getting less than expected, although you may get more if the rate changes for the better for you). As soon as your transaction receives the required number of confirmations, your new cryptocurrency will be added directly to your wallet without the need to provide a name, address or other personal information.

Cryptocurrency exchanges aren’t exactly known for exemplary customer service. One of the big drawbacks in the eyes of many investors is the free-for-all feeling of the cryptocurrency space.

Fortunately, FixedFloat doesn’t leave its users hanging with nebulous lines of communication. Exchange users can contact the FixedFloat team by telegram, email, or social media. Additionally, it has one of the most necessary features of any broker or exchange operating in 2021 – a live chat option for customer support. And it’s available 24/7.

Cryptocurrency transaction fees can vary widely. Network congestion, the amount of capital in the transaction, and the location of the user are all factors that can affect the price of an exchange.

Unfortunately, it can be difficult, if not impossible, to predict these transaction costs. In addition, you may not have the choice to wait for network congestion to ease and costs to drop. FixedFloat tries to be as transparent as possible when it comes to fees on its end, offering 2 different ways to pay for your order: the fixed rate and the floating rate (you can see where they got their nickname from).

The fixed rate applies a 1% fee to all transactions blocked at the time of order. When the trade is initiated, FixedFloat sets the rate for 10 minutes and trades are processed at that price. For example, if you were attempting to trade Ether for BTC and the BTC was $ 61,434 at the time of initiation, this is the price you would receive when the BTC finally ends up in your wallet.

FixedFloat also offers a 0.5% variable rate option. In this level, transactions are initiated in the same way as in a fixed rate exchange, but the rate is not set at the time of initiation. In our example above, the BTC received would be at the price at which the final order confirmation was reached, meaning the block was entered into the chain and confirmed as legitimate.

This final price can be higher or lower than the price at the time of initiation, so users should be prepared for the slippage during a floating rate exchange. Users should also be aware of network charges, which are on top of the 0.5% or 1% commission. Network fees are the rewards given to minors for processing transactions and are not set by FixedFloat.

Simplification is FixedFloat’s goal, so if you’re looking for some extra bells and whistles as perks, you’re going to be disappointed. There is no competition with prizes, giveaways, or giveaways like you can find on other cryptocurrency exchanges. However, FixedFloat keeps its promises: speed, privacy and ease of use.

The platform itself is easy to understand and use. There is no learning curve – just enter the wallet address, select the cryptocurrency you want to trade, and choose the floating or fixed rate option. Transactions are processed quickly and are usually completed within 30 minutes.

Orders can also be tracked for processing. Users can enter their email address (and only their email address) in order to track their transaction or use the FixedFloat website if browser cookies are enabled. And of course the transaction can be tracked on the blockchain digital ledger.

Additional benefits for users include an informative blog with how-to articles on converting different cryptocurrencies, as well as guides on how individual coins work. Additionally, 24/7 chat support provides a peace of mind not typically found in the crypto space.

The site is simple, elegant and intuitive. Transactions can be entered and processed with very little hassle, and there is no check-in or sign-up process to slow things down. Select the type of cryptocurrency you want to receive, the type you plan to trade, and your preferred fee structure (fixed or floating). Transactions typically take less than 30 minutes and some are completed in less than 10 minutes.

More sophisticated cryptocurrency users can use the functionality of the API to create fully automated transactions. A completely self-contained way to create custom cryptocurrency trading strategies, the API can be easily set up and adjusted (with help from 24/7 customer support if needed).

Overall, FixedFloat’s user experience is one of convenience and efficiency. Your transactions are processed quickly, there is no sign-up to block things, and your fees are transparent and fair.

FixedFloat vs competitors