FixedFloat REVIEW

Although cryptocurrencies have been around for more than a decade at this point, one of the primary ideas that inspired their creation is beginning to exhibit some signs of weakness. A peer-to-peer payment network that did not require the baggage of third-party verification was outlined in the white paper that Satoshi Nakamoto wrote about Bitcoin. Through their usage of this anonymity, network members would have their privacy protected at all times.

This hope of remaining anonymous is becoming less likely in today’s world. It is not possible to remain anonymous after signing up for an account on a cryptocurrency exchange such as Coinbase or Gemini. You are going to be asked for personal information such as your name, date of birth, address, banking information, and possibly your Social Security number. And as a result of recent legislation, these exchanges will now be considered to be brokers who are required to issue 1099 forms to their customers and record any transactions that over $10,000. Doesn’t that sound suspiciously like a bank to you?

FixedFloat is a network for exchanging cryptocurrencies that prioritizes protecting the users’ right to remain anonymous. There is no requirement for sign-up, registration, or confirmation of any kind. Through the use of their automated system, it is possible to swap one cryptocurrency for another while paying a nominal fee.

BEST FOR

• People who do not reside in the United States

• Users of cryptocurrencies who do not wish to trade their coins on a conventional exchange

• Traders interested in maintaining their identities

• Users of the Bitcoin Lightning Network

PROS

• There is no need to sign up or register in advance.

• Service that is both quick and effective

• Protects the privacy of the user

CONS

• This offer is not available to nationals of the United States

• As of right now, only supports thirty-three distinct cryptocurrencies

• A significant increase in the costs of transactions during times of excessive network congestion

A Quick Look at the FixedFloat Ratings

FixedFloat is an automatic swap service that allows users to exchange one cryptocurrency for another. Users are not need to pass over any personal information in order to utilize the service. FixedFloat is neither a broker nor a custodian, and the company does not act as a trustee for its customers’ assets. Instead, it provides lightning-fast transactions while guarding the user’s privacy and anonymity at the same time.

Users of the platform just need to enter their wallet address and choose the cryptocurrencies that they wish to trade in order to complete the transaction. If you want to convert Bitcoin into Litecoin, all you have to do is pick Bitcoin and the quantity of Bitcoin that you wish to trade under the ‘Send’ tab, and then select Litecoin under the ‘Receive’ tab. You have the option of selecting a fixed rate or a floating rate after entering the address of your Bitcoin wallet (or using the QR code).

Because the price of your cryptocurrency is fixed for a predetermined period of time, the price that you see at the time of the transaction will be the price that you receive after the transaction is finalized. The most important factor is that the transaction appears in the mempool within ten minutes, and that the market rate has not moved by more than 1.2% in the ten minutes leading up to the transaction. In that case, you will be given the option to either continue the exchange at the current market rate or receive a refund if you choose not to complete the trade.

You pay a reduced fee when you choose the floating rate option, but you won’t know the total price until after the transaction has been completed (which could mean getting less than anticipated, although you might get more if the rate changes for the better for you). Your new cryptocurrency will be added immediately to your wallet as soon as your transaction achieves the required amount of confirmations. You will not be needed to disclose your name, address, or any other personal information in order to receive the new coin.

Customer Service with a FixedFloat

Exchanges for cryptocurrencies aren’t exactly known for their outstanding levels of customer service. The sentiment that it is each person for himself in the bitcoin field is seen as one of the most significant downsides by many investors.

FixedFloat, to its credit, does not abandon its customers by providing them with unreliable channels of communication. The FixedFloat team encourages users of the exchange to contact them by telegram, email, or any of the other social media platforms. In addition to that, it provides a live chat option for customer service, which is one of the most important aspects that any broker or exchange that is operational in the year 2021 must have. Additionally, it is accessible all day, every day of the week, round the clock.

FixedFloat Pricing

Transaction fees associated with cryptocurrencies can fluctuate widely. There are a number of factors that might influence the price of an exchange. Some of these factors include network congestion, the quantity of capital involved in the transaction, and the location of the user.

Unfortunately, estimating the costs of these transactions can be challenging, if not downright impossible in some cases. In addition, there is a possibility that you will not have the option to wait until network congestion eases and prices decrease. FixedFloat makes an effort to be as open and honest as possible regarding the fees it charges for its services by providing customers with two distinct payment options for their orders: a fixed rate and a fluctuating cost (you can see where they got their moniker from).

The one percent charge that is applied to each transaction by the fixed rate is finalized at the moment that the order is placed. FixedFloat will establish the rate for the next 10 minutes before the transaction is initiated, and all subsequent transactions will be executed at that price. For instance, if you tried to swap some amount of ether for bitcoin at a period when the price of bitcoin was $61,434 at the start of the transaction, you would be given bitcoin at that price when the bitcoin finally arrives in your wallet.

In addition to that, FixedFloat also offers a variable rate option of 0.5%. In this tier, transactions are started in the same manner as they would be in an exchange with a fixed rate; however, the rate is not determined at the time the transaction is started. In the previous illustration, the BTC that was received would be valued at the price at which the final confirmation of the order was obtained. This would indicate that the block had been added to the chain and its legitimacy had been verified.

Users of a variable rate exchange need to be prepared for slippage, which means that they should expect the ultimate price to be either greater or lower than the price at the time the exchange was initiated. In addition to the 0.5% or 1% charge, users should be aware of the network fees that may apply to their transactions. The rewards that are granted to miners in the form of network fees for the processing of transactions are not determined by FixedFloat.

FixedFloat User Benefits

If you’re hoping for more bells and whistles as benefits of using FixedFloat, you’re going to be disappointed because the program’s primary objective is simplification. You won’t find any giveaways, giveaway contests, or freebies as you may at other cryptocurrency exchanges since there aren’t any. However, FixedFloat lives up to its claims of providing speed, anonymity, and an intuitive user interface.

The system’s design makes it simple to both comprehend and employ. There is no steep learning curve; all you need to do is input the address of your wallet, choose the cryptocurrency you want to exchange it for, and decide whether you want a floating or fixed exchange rate. The processing of transactions is lightning fast, and they are typically finished in less than half an hour.

Additionally, orders can be traced to guarantee that they are processed. If the user’s browser is set to accept cookies, they will be prompted to provide their email address (and only their email address) in order to use the FixedFloat website and track the progress of their transaction. In addition to that, the transaction is able to be followed on the digital ledger maintained by the blockchain.

Users also get access to other benefits, such as an instructive blog that contains tips and how-to articles regarding the conversion of various cryptocurrencies and how the functionality of specific coins works. In addition, the availability of customer service representatives through chat at all hours of the day and night brings a level of comfort that is not typically associated with the cryptocurrency industry.

FixedFloat User Experience

The website is uncluttered, modern, and easy to navigate. Transactions may be recorded and completed with very little hassle, and there is no need to register or sign up for anything, which helps keep things moving along more quickly. Choose the type of cryptocurrency you want to receive, the type of cryptocurrency you plan to trade it for, and the fee structure that works best for you (fixed vs floating). The average time required to execute a transaction is under 30 minutes, and some can be finished in under 10 minutes.

Users of cryptocurrencies who are more proficient in technology can use the API features to create transactions that are entirely automated. The application programming interface (API) is a completely hands-off method that can be used to construct individualized trading strategies for cryptocurrencies. The API may be quickly set up and updated (with assistance from the 24/7 customer care if it is required).

The FixedFloat platform, as a whole, provides its users with an experience that is characterized by ease and effectiveness. Your transactions are processed promptly, there is no requirement for registration that could slow things down, and your fees are openly disclosed and reasonable.

FixedFloat vs. Competitors

• Non-U.S. Residents

FixedFloat provides a number of features that its competitors will struggle to replicate, including the following ones:

• A bitcoin exchange that is completely automated

• A service that is both quick and anonymous

• Chat assistance available around the clock

• There is no requirement for mandatory registration or any personal information

FixedFloat, in contrast to its rivals, is not only simple but also inexpensive and, most importantly, entirely confidential. Consider using FixedFloat if you want to engage in transactions but are concerned about disclosing any of your personal information to a third party.

FixedFloat Overall

FixedFloat is not sophisticated or robust, nor does it make any pretense of being either. You won’t find any promotions, contests, or additional incentives, but you will get a service that is straightforward, speedy, and effective for trading cryptocurrencies in a manner that is wholly confidential. FixedFloat provides reasonable pricing that does not include any hidden costs and dependable customer support channels for the purpose of resolving user issues.

The application programming interface (API) functions make it possible to create automated trading algorithms, and the anonymity provided is a feature that is absent from many of the prominent cryptocurrency exchanges. The inability of citizens of the United States to use FixedFloat is the only factor preventing us from awarding it five stars; however, this may change in the near future as regulatory activity increases in the cryptocurrency industry in the United States.

FAQ

FixedFloat: What Does That Mean?

Users of cryptocurrencies can trade one coin for another without the involvement of a custodian thanks to a service called FixedFloat. Users are able to maintain their total anonymity throughout the transaction process because there is neither a wallet nor a custodial service offered.

How do you work with the FixedFloat format?

If FixedFloat is made available in your jurisdiction, you will be able to use the exchange website to specify the digital asset you desire to send, the digital asset you wish to receive, as well as the address of your wallet. Choose a fixed or floating rate depending on the kind of transaction you want to make, then start the process. Simply submit the transaction to the address that was given in the order, wait until the required amount of confirmations is reached, and then you will immediately receive the newly created cryptocurrency.

Methodology

The ranking of bitcoin exchanges and tools was accomplished using a particular approach that was developed by Benzinga. We ranked the platforms in order of importance according to the following criteria: offers, pricing and promotions, customer service, mobile app, user experience and benefits, and security.