Despite being one of the youngest cryptocurrency exchanges available, FixedFloat has already established itself as a market beater, gaining massive attention and popularity from the crypto community. The platform’s cheap fees, simplified and intuitive interface, and instant transactions have seen the platform rise as one of the talents starring in the crypto universe.
Below we highlight FixedFloat history, pros, cons, unique features, team members and licenses acquired – a key factor for users joining crypto trading.
The crypto market is on a boom having broken the $2 trillion mark in total market capitalization as Bitcoin (BTC) set new all-time highs at $69,000, earlier in April. As such, the crypto universe has witnessed a surging growth in the number of retail and institutional investors
Launched in 2018, FixedFloat is the brainchild of top crypto enthusiasts from the fields of finance, web development, and venture capitalism sectors aiming to create a user-friendly, fast, and zero-fee instant exchanger for the crypto community. It is the first crypto exchange in the world to support deposits and withdrawals using Bitcoin’s layer-2 solution, Lightning Network.
Read more>> Why would you need the Lightning Network?
The exchange currently has a total of 25 cryptocurrencies with the list of assets updated regularly.
- Bitcoin (BTC)
- Ethereum (ETH)
- Tether (USDT) ERC20/ TRC20
- Litecoin (LTC)
- Basic Attention Token (BAT)
- Bitcoin Cash (BCH)
- Chainlink (LINK)
- Tron (TRX)
- BitTorrent (BTT)
- Binance Coin (BNB)
- Dash (DASH)
- Bitcoin Lightning
- Monero (XMR)
- 0x (ZRX)
- Dogecoin (DOGE)
- Ethereum Classic (ETC)
- Cardano (ADA)
- Ripple (XRP)
- Maker (MKR)
- Paxos Standard (PAX)
- Stellar Lumens (XLM)
- True USD (TUSD)
- Circle USD (USDC)
- Zcash (ZEC)
Features of FixedFloat
The platform offers unique functionalities and features that aim to catapult the exchanger into one of the best in the world. Here are some of the features.
- Simple interface: The goal of the exchange is to make it simple for cryptocurrency investors and traders to buy, sell and trade digital assets through its transparent and fully automated platform.
- Instant trades: All crypto exchanges on FixedFloat take place at maximum speed, with minimal fees, and in fully automatic mode.
- Fixed and floating rates: The exchange offers two types of orders – Fixed and Float orders – giving the user options on what the execution price will be.
- High Privacy: The exchange does not collect, keep or sell the personal data of their customers.
- Security: The platform employs 2-factor authentication to secure users’ assets.
- Full-time technical support: FixedFloat customers have access to the technical support team at any time, any day of the week.
- Lightning Network: The exchange is the first-of-a-kind to offer Bitcoin’s layer 2 solution, Lightning Network, to enhance speed and reduce the cost of transactions.
Pros of FixedFloat
- Instant transaction confirmations: FixedFloat boasts as one of the fastest exchanges in the crypto market. The exchange only requires a set number of blockchain confirmations, after which, the user can start trading immediately.
- Low trading fees: To give everyone an opportunity to trade, FixedFloat has some of the lowest fees in the industry. They provide zero-fee deposits and in-platform crypto transfers.
- Best exchange rates: Low fees play a huge factor in ensuring FixedFloat offers the best exchange rates available in the market.
- Simple and interactive user-friendly interface
- Self custody platform: On FixedFloat there is no possibility of storing and in-platform crypto transfers since FixedFloat is an instant cryptocurrency exchange service. The platform offers exchange order books for users to create orders, the amount to be exchanged, and the address where the funds will be sent once exchanged.
- No KYC: In line with the crypto motto of decentralization, FixedFloat does not require registration or submitting KYC documents. However, users can create an account and see past exchanges in their profiles.
- Trade with small amounts: The exchange also allows micro-trading of cryptocurrencies from as low as $1.
- Responsive technical support team: Users with troubles or questions can contact the support by Live chat, Telegram, Email, or Twitter at any time of the day.
- No extra charges: The amount shown on the users’ screens when placing an order is the final execution price of a trade. In addition to the service fees, this amount also includes the network fees for sending a transaction and for consolidating the received transaction.
Cons of FixedFloat
As an exchanger, FixedFloat offers users a direct exchange between two cryptocurrencies – different from the custodial exchanges that require the user to open an account, register, credit a deposit, create an exchange order, and then withdraw funds from the exchange. Despite its advantages, FixedFloat users face some challenges including:
- A fixed rate of 1.2%: When choosing a fixed rate and changing the market exchange rate by 1.2% before the transaction appears in the mempool (not to be confused with the confirmation of the transaction), the user will be prompted to make an exchange at the current market rate or make a refund.
- No fiat trading: Despite the wonderful features, one key miss of FixedFloat exchange is a lack of fiat onramps.
- New and improving: The exchanger is still relatively young compared to other exchangers around. However, with a well-experienced technical team controlling developments and updates, it’s only a matter of time before FixedFloat reaches global adoption.
Fees, Deposits, and Withdrawals
FixedFloat offers a unique fee structure model in each type of order – Fixed and Float trading fees.
1% + Network fees.
In the fixed order, the price rate is fixed for 10 minutes and the user is charged 1% of the amount for this. This helps the customers receive the exact amount they indicated on the order.
0.5% + Network fees
In this order, the exchange charges 0.5% but the final rate will be fixed at the time of receipt of the required number of confirmations. The amount received could be even more than that which was displayed at creation.