HOW TO BUY AND WITHDRAW BITCOIN AT THE LOWEST FEE

HOW TO BUY AND WITHDRAW BITCOIN AT THE LOWEST FEE

INTRODUCTION

This article aims to get an exchange where you can buy Bitcoin with the lowest withdrawal fee. usually comes with a huge withdrawal fee. The normal Bitcoin withdrawal fee of 0.003 -0.001 BTC applies to most exchanges – $8 to $30.However, FixedFloat is an exchange that offers the lowest or cheapest Bitcoin withdrawal fee. Its token swap service is a direct deposit to your wallet for only a fraction of what you would pay for most exchanges.

With FixedFloat, you can buy Bitcoins, and have them withdrawn to your wallet for a total transaction fee of less than $1.5. They offer the best exchange rates and minimum commissions for withdrawals.

Here are a few things you should know about FixedFloat Exchange;

  1. Trades are automated on the platform and transactions can be viewed on the blockchain.
  2. You can use the platform anonymously – Email registration is optional.
  3. There are two fee structures – 0.5 percent and 1 percent, It is ideal for small transactions.
  4. They are active on social media and you can contact them for support and inquiries.

Warning: Be aware of the potential risks inherent in using any platform to swap your cryptocurrencies and manage your risks accordingly. Do your research

STEPS TO BUY BITCOIN AT THE CHEAPEST RATE

Follow these simple steps:

Step 1: Visit Fixedfloat at https://ff.io/ or https://fixedfloat.com.

Transactions are automated and use The Lightening Network to deliver Bitcoin to your wallet.

Step 2: Select the coin you want to swap to Bitcoin

There are more than 60 coins/tokens to choose from and across different chains e.g. Popular cryptocurrencies like Bitcoin, Ripple, Monero, Dash, Bitcoin, USDT, Shiba Inu, Cardano, Atom, Litecoin, and chains like BSC, Bep20, ERC20, Optimism, Arbitrum, Avalanche, Fantom, TRC20, Solana, VeChain, Polygon, etc.

Select the appropriate chain of the coin/token you want to convert to Bitcoin.

Step 3: Select the coin you want to receive.

Here you indicate Bitcoin as the crypto you want to receive.

Step 4: Enter the amount of coins to swap

fixedfloat exchange

Indicate the exact amount you want to swap to Bitcoin. This will show the exchange rate, the fee, and the quantity of Bitcoin you will receive.

Step 5: Enter your wallet address, Select the order type, and click Exchange Now

Input your Bitcoin wallet address in the field provided, select the order fee type, and then crosscheck to ensure everything is in order before proceeding to the next step.

Step 6: Send the coin you want to swap to the Fixedfloat provided wallet address.

FixedFloat will automatically provide you with an address. Send your tokens to this address and then wait for a confirmation.

Once your deposit receives 1 confirmation on the blockchain, Fixedfloat will process your transaction and send you your Bitcoins. Everything is done automatically.

Step 7: Wait to receive your coins within a few minutes.

It takes only a few minutes for the swapping to complete. Just wait.

About FixedFloat Exchange

Many questions normally arise when it comes to FixedFloat as an exchange. This section will briefly explore the FixedFloat and answer some common questions about the exchange.

What is FixedFloat?

Fixed Float is a Bitcoin Lightning cryptocurrency exchange that offers “lightning speed”, a safe and secure decentralized platform for swapping your digital assets. Unlike many other non-custodial exchanges (decentralized), FixedFloat allows direct conversion to the Bitcoin blockchain, and to other selected altcoin chains.

FixedFloat claims include that the exchange is

  • Is fast – saves time
  • Saves Money as the fee is very cheap
  • Allows favorable trades. – You can select any two pairs to swap directly without needing multiple transactions.

Does FixedFloat require KYC?

FixedFloat Exchange does not require you to do a KYC (Know-your-customer) to use the exchange. There are no ID Card requirements, address verification, or proof of funds.

FixedFloat allows you to buy Bitcoin (and other cryptocurrencies) without KYC.

Is fixed float anonymous?

FixedFloat is fully anonymous. The exchange does not require you to submit your details such as your name, address or perform any KYC onboarding process. You only need your email and wallet address to conduct a swap on the exchange. This may go against the popular requirement in most countries that require exchanges to do a KYC onboarding process.

Although FixedFloat provides an anonymous platform, your transaction may not be fully anonymous if your wallet is linked to a public profile such as a social media account or a publicly discernable email.

What is the FixedFloat fee?

There are two types of fee types on Fixedfloat exchange

  1. Fixed Rate at 1 percent of the exchange amount + the network fee
  2. Float Rate at 0.5 percent + network fee.

You choose either when conducting your swap.

Is FixedFloat safe to use?

FixedFloat is a fully automated and decentralized exchange. There are inherent risks in using all decentralized exchanges and you should be aware of such risks. There have been two hacks on FixedFloat exchange in its 4 years of operation. February 16th, 2024 resulting in a loss of $26.1M, and on April 1st, 2024 with a $2.8M loss.

fixedfloat twitter's post relating to its hack
FixedFloat Twitter’s post relating to its hack

The exchange is still up and functional as of June 2024 with swapping operations still taking place. Hacks are common within the crypto ecosystem. Be aware of the aware of the risks. No exchange is completely immune to this.

Is fixed float trusted?

FixedFloat has been around for over 4 years and is active in the crypto community, and their Social media are live and active. They are also present on the Bitcointalk forum, participating in forum discussions. If nothing at all, they have been around for a while and have recovered from two separate hacks. I think that is impressive.

Sometimes, they may freeze funds that are marked as being from stolen sources.

How long does Fixedfloat take

FixedFloat transactions are usually very fast. Its Bitcoin transaction uses the Bitcoin Lightning Network for fast and cheaper transactions. A typical transaction on FixedFloat Exchange takes about 5-10 minutes to complete.

Sometimes it can take longer when there is Network congestion in the blockchains the transactions are on. It may be helpful to check the network congestion before initiating a transaction.

What is fixed float on Etherscan?

FixedFloat transactions are automated and visible on public networks. You can view the progress of your transaction on Public chains by using popular tools like Etherscan. It is advisable not to close your transaction page until the whole process is complete.

You also get an email notification to show your transaction details, and you can monitor your transaction through those details.

Is FixedFloat a mixer?

FixedFloat does not consider itself to be a Crypto Mixer, whether that claim is true may depend on the user and the crypto community in general. There is no option to exchange Bitcoin for another batch of Bitcoins.

FixedFloat may freeze funds they consider to be from fraudulent sources. For example, in 2023, FixedFloat reportedly froze $2M belonging to Lazarus– a North Korean Hacker Group, on grounds of money laundering.

CONCLUSION

FixedFloat offers the cheapest withdrawal fee for Bitcoin, only a fraction of what is obtainable with most exchanges. Transactions are fast and automated. It is an excellent choice, especially for small transactions. And as with all exchanges, it should be used with caution.

Read: Beginners Tip For Success In Cryptocurrencies

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