Lightning cryptocurrency exchange
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 float exchange rate, the amount of ETH can change both up and down. It depends on changes in the market rate.
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
Exchange Ethereum Classic to Bitcoin
Exchange in 3 steps
- Enter the desired amount of Ethereum Classic and write your wallet address to receive currency.
- Click the "Exchange now" button and you will be taken inside your order.
- Send Ethereum Classic to the address from your order, after the required network confirmation, Bitcoin will be sent instantly.
What do you need to know?
A brief history of Ethereum Classic
In 2015, the Ethereum platform was launched, which quickly gathered like-minded people interested in smart contract technology. In 2016, an attacker discovered a vulnerability with which he stole $50 million. After this event, a hard fork occurred, as a result of which two coins appeared — Ethereum with an updated protocol and Ethereum Classic as the initial version of Ethereum.
Ethereum Classic blockchain speed and fees
The exchange requires 30 confirmations. Blocks on the ETC blockchain appear approximately every 13 seconds. Average exchange confirmation time is 6.5 minutes.
Today, the average Ethereum Classic transaction fee is 0.000072 ETC.
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.
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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.
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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.