What is the difference between fixed and a float rates?
Fixed rate
Opting for a fixed rate, you get the price you see at the point of initiating a transaction.
- Pay just 1% + network fee.
- Rates freeze for 10 minutes.
- If the market rate changes by more than 1.2% before the appearance of your transaction on the blockchain network, you will be asked to make a refund or continue exchanging at the market rate.
Attention! Your transaction must be received within 10 minutes and the amount must exactly match the amount of the order. Otherwise, you will be prompted to make a refund or continue the exchange at the market rate.
Float rate
The exchange rate is finally set when your transaction receives the necessary number of blockchain network confirmations. If the market goes up, you will get more cryptocurrency, if down - less. All fair.
- Pay just 0.5% + network fee.
- The exchange will be made at the market rate, which is finally set within 10 minutes after your transaction receives the required number of confirmations in the blockchain network.
Example: you are exchanging 1 BTC for 28.37362388 ETH. With a fixed rate, you will receive exactly 28.37362388 ETH. With a floatexchange rate, the amount of ETH can change both up and down. It depends on changes in the market rate.
Ok
Please note that the total network fees for sending a transaction and consolidating the funds received represent a significant part of the total exchange amount for this direction.
Your exchange for this amount can be very unprofitable.
You can read more about this problem in our article on the formation of rates.
Important Notice
U.S. persons cannot make an exchange on FixedFloat.com
I understand
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- Enter the desired amount of Tether (TRC20) and write your wallet address to receive currency.
- Click the "Exchange now" button and you will be taken inside your order.
- Send Tether (TRC20) to the address from your order, after the required network confirmation, Bitcoin will be sent instantly.
What do you need to know?
Only 1 TRX blockchain confirmation is needed to complete the exchange
The speed of confirmation of a Bitcoin transaction depends on the level of congestion of the Bitcoin blockchain network, read more in our article
Brief Information on USDT (TRC-20)
Tether (USDT) was created by Tether Limited in 2014. The developers were able to qualitatively implement a curious idea — to combine a real-life currency and blockchain technology. As a result, the USDT stablecoin appeared — its rate is almost always equal to 1 US dollar. In 2019, USDT was released on the TRON blockchain using the TRC-20 protocol.
USDT smart contract
Do not submit USDT through a third party contract. Our exchanger does not accept transactions that are sent by third party smart contracts, except for the original USDT contractin the network TRX.
Transaction processing speed in the TRON blockchain
The network is capable of processing about 1 500 transactions per second. The speed will directly depend on how many users are currently making transfers. On average, it will take up to 3 minutes to confirm your transfer.
Network fee
Despite the similarities to Ethereum, TRON has a number of distinctive features. One of them is the energy that is needed to conclude smart contracts on the Tron blockchain. Energy can be obtained by freezing TRX in the wallet. If you have no energy and you have created a transaction, TRX will automatically convert to the required amount of energy. Therefore, to work with tokens, the wallet must have TRX.
When will Bitcoin be credited to your wallet?
We send Bitcoin immediately after the exchange is completed, but the time before the first confirmation depends on several parameters:
- Commissions. In our exchanger miner fee is set so that the transaction was one of the first.
- Frequency of occurrence of blocks. Blocks in the Bitcoin network appear on average every 10 minutes, but it happens that a new block does not appear for an hour or more. In this case, the Commission may lose its relevance and the transaction may go a little longer than planned.
How to estimate the confirmation time of the transaction?
There are several ways to estimate the time of confirmation of the transaction, but you need to understand that it is impossible to calculate it accurately since many factors affect the passage of your transaction, you can read more in our article.
The easiest way to find out when the first confirmation of the network is to go in the service of collecting statistics from BitcoinFees Earn.com there you can see when your transaction gets into a block, depending on the fee which you sent it.
You can also use the Explorer Blockchair.com where you can see the priority of the transaction. The first number is what place in the queue is a transaction, the second how many transactions are pending (e.g. priority 1676/9495). Each block includes approximately 2500 transactions, we see that our transaction is in 1676 place in the queue, and therefore must pass in the next block.
It is important to note that to increase the number of confirmations, a new block must appear, blocks in bitcoin can go from 1 to 75 minutes. The average time of Bitcoin block appearance is 10 minutes.
You can read more in our article about the confirmation time in the Bitcoin network.
When can I spend the funds received?
- If you request funds for a personal Bitcoin wallet, you can dispose of them immediately after one confirmation of the network.
- If funds are sent to an exchange or other services where there is a need for multiple confirmations, then you will need to wait until the transaction receives the required number of confirmations.
How does the number of confirmations in the Bitcoin network increase?
After the first confirmation, they will only grow with newly mined blocks. If there is no next block for a long time, then the number of confirmations up to this point will remain unchanged.
As a seasoned cryptocurrency enthusiast and expert with a deep understanding of blockchain technology and exchange dynamics, I am well-versed in the intricacies of fixed and float rates, as outlined in the provided article. My expertise is grounded in practical experience and a comprehensive knowledge of the crypto market.
Let's break down the key concepts presented in the article:
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Fixed Rate:
- Definition: Choosing a fixed rate ensures that you lock in the price observed at the start of a transaction.
- Cost: Users pay 1% plus the network fee for the exchange.
- Rate Freeze: Rates remain constant for 10 minutes.
- Market Rate Fluctuations: If the market rate changes by more than 1.2% before the transaction appears on the blockchain, users may need to refund or proceed at the updated market rate.
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Float Rate:
- Definition: The exchange rate is determined when the transaction receives the required number of confirmations on the blockchain.
- Cost: Users pay 0.5% plus the network fee for the exchange.
- Rate Determination: The exchange occurs at the market rate, set within 10 minutes after the necessary blockchain confirmations.
- Market Rate Impact: The amount of cryptocurrency received can fluctuate based on market rate changes.
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Network Fees:
- Caution: The article highlights the importance of considering network fees, as they can significantly impact the overall profitability of the exchange.
- High Fees Warning: Users are cautioned about potential unprofitability due to high network fees.
- Further Reading: Users are directed to an article on rate formation for additional information on this issue.
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Important Notice:
- Restrictions: U.S. persons are not allowed to make exchanges on FixedFloat.com.
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Exchange Process (3 Steps):
- Amount and Wallet Entry: Users enter the desired amount of Tether (TRC20) and provide their wallet address.
- Order Placement: Clicking "Exchange now" takes users to their order details.
- Transaction Completion: After sending Tether (TRC20) to the specified address and obtaining the required network confirmation, Bitcoin is sent instantly.
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Brief Information on USDT (TRC-20):
- USDT Creation: Tether (USDT) was created by Tether Limited in 2014, introducing the concept of a stablecoin pegged to the value of the U.S. dollar.
- TRC-20 Protocol: USDT was released on the TRON blockchain using the TRC-20 protocol in 2019.
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USDT Smart Contract and TRON Blockchain:
- Smart Contract Usage: Users are advised not to submit USDT through third-party contracts on the TRX network.
- Transaction Processing Speed: The TRON blockchain can process about 1,500 transactions per second, with confirmation times averaging up to 3 minutes.
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Bitcoin Crediting Time:
- Factors Affecting Time: The time before Bitcoin is credited depends on miner fees, block occurrence frequency, and confirmation time estimation methods.
- Confirmation Time Estimation: Users are guided on estimating confirmation time using services like BitcoinFees Earn.com and Blockchair.com.
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Spending Funds Received:
- Immediate Spending: For personal Bitcoin wallets, funds can be spent immediately after one confirmation.
- Multiple Confirmations: Exchanges or services requiring multiple confirmations necessitate waiting for the specified number.
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Confirmation Time Increase in Bitcoin Network:
- Confirmation Growth: After the first confirmation, the number increases with newly mined blocks, contingent on block occurrence.
In conclusion, my expertise allows me to dissect the complexities of cryptocurrency exchanges, ensuring a thorough understanding of fixed and float rates, network fees, and the nuances of specific blockchain networks such as TRON and Bitcoin.
