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, Trust Wallet Token (BEP2) will be sent instantly.
What do you need to know?
Only 1 TRX blockchain confirmation is needed to complete the exchange
Memo is the payment ID. If you need it when sending a transaction, be sure to include it
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.
A brief history of Trust Wallet Token
Trust Wallet Token (TWT) was created in March 2020 to develop the community and attract new users. Initially TWT was launched on the Ethereum blockchain (ERC-20), then moved to Binance Chain (BEP-2), and in October became available on Binance Smart Chain (BEP-20). Since its launch, Trust Wallet Token has been a success and is an important part of the Binance ecosystem.
What is a Memo and do I need to specify it?
There is an additional Memo field when submitting Trust Wallet Token. Memo is the ID of the payment. It is unique, and with its help the service identifies the sender and recipient. Many services have address protection, which does not allow transactions without Memo.
If it happened that you forgot to specify the Memo or specified it incorrectly:
- Check if the transaction went through. To do this, you can use the explorer.binance service.
- If the transaction is not confirmed, write to our technical support. We will help you resend it.
- If, nevertheless, the transaction went through, then, unfortunately, we will no longer be able to help. In this case, you should write to the technical support service of the service to which you sent it.
Binance chain Blockchain Speed
Binance chain is considered to be a fast blockchain. The transaction is confirmed in a few seconds.
As an enthusiast with deep expertise in cryptocurrency exchanges and blockchain technology, I'd like to shed light on the concepts discussed in the provided article regarding the difference between fixed and float rates, particularly within the context of the FixedFloat platform.
Fixed Rate: Opting for a fixed rate on FixedFloat entails initiating a transaction at a set price. Users pay a fixed fee of 1% plus the network fee. The critical feature here is that rates freeze for 10 minutes. If the market rate changes by more than 1.2% during this time, users may be asked to make a refund or continue exchanging at the current market rate. It's essential to note that the transaction must be received within the specified 10 minutes, and the amount must precisely match the order to avoid potential issues.
Float Rate: On the other hand, choosing a float rate means the exchange rate is determined when the transaction receives the required number of blockchain network confirmations. Users pay a fee of 0.5% plus the network fee. Unlike the fixed rate, the exchange occurs at the market rate, which is finalized within 10 minutes after the necessary confirmations. The amount of cryptocurrency received can fluctuate based on market rate changes.
The article emphasizes the importance of being aware of high network fees, as they can significantly impact the overall exchange amount. Users are cautioned that exchanges involving high fees may be less profitable.
Moreover, the article provides a step-by-step guide for the exchange process on FixedFloat, including entering the desired amount, initiating the exchange, and sending the cryptocurrency to the specified address after network confirmation.
The platform explicitly mentions that U.S. persons are not allowed to make exchanges on FixedFloat.com, highlighting regulatory considerations.
Moving beyond the exchange process, the article touches upon the specifics of Tether (USDT) on the TRC-20 protocol, cautioning against submitting USDT through third-party contracts. It also provides information on the TRON blockchain's transaction processing speed and the need for energy, obtained by freezing TRX, to conclude smart contracts.
Additionally, there's a brief history of Trust Wallet Token (TWT), outlining its creation in March 2020, its transition from Ethereum (ERC-20) to Binance Chain (BEP-2), and its subsequent availability on Binance Smart Chain (BEP-20). The article positions Trust Wallet Token as a success within the Binance ecosystem.
The concept of "Memo" is explained, emphasizing its role as the payment ID for Trust Wallet Token transactions. Users are advised to check and ensure the correct Memo is specified, as it is crucial for identifying the sender and recipient.
Lastly, the article touches upon the speed of the Binance chain, highlighting its reputation as a fast blockchain where transactions are confirmed in a matter of seconds.
In summary, the provided article covers a spectrum of topics, from the nuances of fixed and float rates in cryptocurrency exchanges to specific details about Tether, TRON blockchain, Trust Wallet Token, and considerations like Memo and network fees.
