There’s no denying that cryptocurrency has made its impact. From everyday traders and investors to traditional financial institutions, the number of entities interested in cryptocurrencies has increased since its inception. An exchange account is needed to enter the world of crypto. This is where users can buy and sell digital currencies, such as Bitcoin, Ethereum, BNB, Dogecoin, and some stablecoins.
As the industry grows, several crypto exchanges have come out, promising to put customer interest above all. One such exchange is FixedFloat. It offers several features and advantages that separate it from other crypto exchanges, and this review will be expounding on each service.
FixedFloat Exchange Details
FixedFloat was launched in 2018 by a team of crypto enthusiasts with backgrounds in business, finance, and web technologies. It is an instant and fully automated digital asset exchange that supports the lightning network.
The easily accessible platform boasts a user-friendly interface that even new investors can easily navigate through the website.
FixedFloat banks on its three main advantages: speed, convenience, and security.
- Speed – quick processing of transactions, with favorable and transparent rates
- Convenience – users are not required to register or log in; customers just scan the QR code through their wallets or enter the address manually on the platform
- Security – customer funds are not stored in the service; absent intermediaries
In addition to these three key features, the FixedFloat exchange also integrates cross-platform functionality. This design allows users to use the service seamlessly through any device.
Furthermore, FixedFloat does not enforce a know-your-customer (KYC) compliance. This eliminates the additional barrier to entering the crypto trading market. Customers are also assured that the privacy and security of their personal data are protected.
The webpage also shows the most recent transactions that happened on the platform. Interestingly, this section also shows how much time each transaction took.
Notably, users can reach out to the service through their responsive customer and technical support channels via live chat, Telegram, Twitter, and email. All channels are open 24/7.
- Live chat – Depending on the time of day, the fastest response time this feature offers is under 1 minute
- Telegram – estimated reply time is 10 minutes
- Twitter – estimated reply time is 24 hours
- Email – estimated reply time is 24 hours
Crypto exchanges should provide flexibility and accessibility to users through a vast token listing. Furthermore, the best crypto exchange should also support the major tokens — those included in the top 10 in terms of market capitalization.
What makes FixedFloat a decent service is that it already supports 48 tokens despite being fairly new compared to exchange giants. In the future, FixedFloat will be adding two more undisclosed cryptocurrencies. Among the 48 listed tokens, the most popular currencies that are listed on the platform are Bitcoin (BTC), Ethereum (ETH), Tether (ERC20), Litecoin (LTC), and Monero (XMR).
|Bitcoin (BEP2)||Bitcoin Cash (BCH)|
|Bitcoin (BEP20)||Dogecoin (DOGE)|
|Bitcoin (Lightning)||Ethereum BEP2|
|Ethereum (ETH)||Ethereum BEP20|
|Tether (ERC20)||Ethereum Classic (ETC)|
|Tether (BEP2)||Tether (TRC20)|
|Tether (BEP20)||PancakeSwap (BEP20)|
|Litecoin (LTC)||Shiba Inu (BEP20)|
|Monero (XMR)||Shiba Inu (ERC20)|
|Binance Chain||Maker (ERC20)|
|Binance Smart Chain||Polygon (ERC20)|
|Binance USD (BEP2)||Polygon (Mainnet)|
|Binance USD (BEP20)||Ripple (XRP)|
|0x (ERC20)||Basic Attention (ERC20)|
|Pax Dollar (ERC20)||Tezos (XTZ)|
|Tron (TRX)||Trust Wallet Token (BEP2)|
|TrueUSD (ERC20)||Zcash (ZEC)|
|USD Coin (TRC20)||Cardano (BEP2)|
|USD Coin (BEP20)||Cardano (BEP20)|
|USD Coin (ERC20)||Chainlink (ERC20)|
|DAI (BEP20)||Dash (DASH)|
FixedFloat also provides a dedicated tab or section for a few of the platform’s most popular transactions — Monero (XMR), Ethereum (ETH), and Litecoin (LTC).
Each page is unique to its specified trading pair, except for the first four bullet points under the ‘What do you need to know?’ section. This can consist of the average time for the exchange, the number of confirmations needed for the transaction, some reminders, and disclaimers.
This feature allows FixedFloats patrons to easily access the exchange interface for their favorite trading pair. For news users, an exchange steps guide can be seen on the right-hand side of the page.
Transactions/Orders, Fixed, and Float Fees
Experienced crypto investors always look to trading fees when looking for a reliable and cost-effective crypto exchange. Those that offer great deals in terms of trading fees usually catch the attention of global traders and investors.
Notably, FixedFloat enables users to choose from two exchange strategies: transactions with fixed rates and transactions with float rates.
- Fixed-rate: 1% + network fee. If an investor opts for a fixed rate, they get the price they see when initiating a transaction.
- Float-rate: 0.5% + network fee. If users choose this option, the FixedFloat system selects the price it sees when the user funds come.
According to the website, the network fee is independent of FixedFloat and is set by the blockchain network. These fees are rewarded to miners and validators for servicing the blockchain network, such as blocks search, confirming transactions, and more.
It is important to note that the platform has some of the lowest minimum limits ($1) on the market.
Speaking of the waiting time, all exchanges take less than 30 minutes. It is important to note that the delivery speed depends on the capacity of the blockchain network. If a transaction doesn’t show on the blockchain within 30 minutes, users are advised to contact the FixedFloat customer service through its support lines.
The best crypto exchanges also offer ways to reassure their customers of their orders through tracking.
When it comes to the transaction process, FixedFloat users can track their order in three ways:
- by email (if you leave your email address),
- on the FixedFloat website (the user’s browser needs to accept cookies), or
- by tracking the ledger to which the user transfers their funds.
Interestingly, the platform offers a way for users to deal with expired orders. The service provides users with two options:
- Continue where they left off with a floating rate
- Submit a return claim to deliver their money to any wallet minus the network fee
Additionally, FixedFloat enables users to pick up where they left off, especially when the platform is accidentally closed. If the unwanted happens, users can:
- Enter their wallet address on the empty field and go to the order page
- Open FixedFloat.com again if their browser accepts cookie technology
- Go to the link provided via email to finish their order
FixedFloat Pros and Cons
- Fast, secure, and a reliable cryptocurrency exchange
- Offers the best rates for crypto exchange
- Fixed and float exchange rate; one of the lowest fees in the market
- Responsive 24/7 customer/technical support
- Easy-to-understand interface
- Hassle-free network confirmations to complete an exchange
- A decent number of supported tokens and trading pairs
- Easier user entry to crypto trading due to the absence of KYC
- Does not support fiat currencies
- Although the platform has listed a decent amount of cryptocurrencies, it is still lacking in this regard when compared to established exchanges
Important note: The scores are based on personal analysis and do not serve as financial advice. Traders and investors should proceed with due diligence when putting money in crypto exchanges.
- Service offered: 4/5
- Cryptocurrency support: 3/5
- Fees: 5/5
- Minimum limit: 5/5
- Usability: 4/5
Review score: 4.2/5
Disclaimer: The views and opinions expressed in this article are solely the author’s and do not necessarily reflect the views of CoinQuora. No information in this article should be interpreted as investment advice. CoinQuora encourages all users to do their own research before investing in cryptocurrencies.