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TL;DR
Thing is that I have some little project called Betizen
This project lists online casinos, games & bonuses. From that I make a buck (or try to) as an affiliate. Crazy industry, nice bunch. Have done side-affiliate-projects for about 7 years. Have made bucks and spent bucks, succeded and failed, have traveled and been forced to travel for months.
I do not offer anything, nor actively reach operators. But from time to time some good affiliate manager finds the site, contacts me and make a offer. So I list them. For a buck, so to make one.
If settle an agreement, we need to agree on a medium of exchange. Sometimes we disagree. If we do not, I propose Bitcoin via mainnet of Lightning for spares, as they are the best I know for cross border transactions, but I am usually also open for ERC-20. Say Circle’s (USDC), say Tether (USDT).
But then there is a Mostbet casino. And the sweet Aya, offering to pay in Tether in TRC-20. After a half a bottle of a good old tannat from the Artesana winery, I say, ok, “let me send you the address”, lets do it.
So, I am not a crypto enthusiast, but a BTC one. I do pay my lamen (miolo here in Brazil) from the Betizen project, so I doubt, does the risk worth?, wtheck, I finally go for it.
I ask my helping hand (aka. copywriter) to publish the reviews, in Spanish, Portuguese and English.
And then, in time, I receive my Tether TRC-20, on my device, from Aya.
Being frauded by Celsius, my Nexo is no help. So I am on my own. My device, in the safe.
Sometime ago, when I had some spare time, after trying to sell some beers and wines at Braaay, I read some words about Fixed Float, an uncommon crypto exchange.
It turmes out that is does exchange TRC-20 Tether stuff for a rather generous number of other stuff, and Bitcoin.
I had no experience using FixedFloat. They have an affiliate program. To which I am affiliated to.
I have watched no videos. Been influenced by no one. So before promoting them I decided to give them a try.
So here is the result after trying to exchange my 50 bucks of TRC20 Tether into USDT ERC20, to finally seek refuge on BTC, to be HODL in my device, for the ages.
Swapping Tether at FixedFloat
TRC-20 (Tether) tokens to ERC-20 (Tether)
So i started with exactly 50 TRX Tether stored at one of my Trust Wallets burners.
There was no direct way to swap inside my crypto wallet, nor in Nexo, so the plan was to send those 50 Tether from the Tron blockchain (TRX) directly into Bitcoin mainnet (BTC), via FixedFloat, to an address in my device.
It is a 4 step process, lets dive into it.
First step
Get some TRX in order to pay for the network fees for the transaction to FixedFloat. I needed to send 50 Tether (already received from casino listing), and $2,08 (27, 3966 TRX). In order to get those TRX I swapped $3 american dollars (BTC -> TRX) at Nexo, and sent them the to the Trust Wallet burner.
Fortunately Nexo gives away 1 external transaction with 0 fees per month. So I used it.
Second Step
Now with my Tether ($50, TRC-20) and my TRX ($3) I was ready to generated the transaction order at FixedFloat.com.
The process is fairly simple.
- You select the amount you want to exchange, and in which currency and network.
- You select the currency you want to receive and the destination address. In the case of this test I was going to send 50 USDT in the Tron Network, hoping to receive Bitcoin in the mainnet blockchain.
- Finally, (and key) you select the order type.
There are 2 types of order types at FixedFloat. First you have the FixedRate type of 1% fee, and then you have the Float Rate of 0.5%. They both behave differently.
With the first option you get the price you see at the point of initiating a transaction. Pay just 1% + network fee. No hidden commissions. With the later “floating” option the exchange rate will be set when they receive your transaction.
Both options have their caveats, and they are greatly explained at FixedFloat. So let’s not annoy Google and repeat.
A four steps process
As said before it is a 4 step process. You first send your crypto to the specified address. Once the transaction is confirmed (in the case of TRX, 1 blockchain confirmation is good enough) then FixedFloat will perform the exchange and send you the money to the destination address specified.
So the order is placed and I have 30 minutes to send the money to the specified FixedFloat address. After that they will make their automatic magic, and after the confirmation the money will be send to the destination address. So I hoped for the best...
And it worked! After completing the transaction (TRX transactions are blazing fast) and after 1 confirmation the BTC order to my destination address was generated. The whole thing took 6 minutes. After which I only needed to wait for the Bitcoin blockchain confirmation, and (I hoped) for the Trust Wallet notification of the BTC received at the address of the burner.
The Bitcoin transaction was confirmed. The money in my pocket. Now, i was getting ready to go out and buy my lamen / miojo. But wait… what about the Trust Wallet push notification?
I headed to the transaction history on the burner wallet, and in spite of the total amount being right, there was no transaction history confirming it. I then opened an explorer. The transaction was confirmed.
I wrote to customer support and they politely explained sometimes transactions do not show in history for the following reasons:
Being that “the transaction list was not synced” and/or that “the transaction was complex, like a multi-send, swap, or internal”.
It actually took around 3 weeks to appear at my Trust Wallet history.
So I do can say that FixedFloat is legit. But… What about the exchange rated? Is it worth it?
Well its good to present the facts and make each of us our own conclusions.
I wanted to send $50 bucks to from the TRON Blockchain to my BTC burner wallet. Of those $50, finally $49,18 bucks landed to my wallet using the floating order type at FixedFloat.
That’s a little more than the 0.5%. Exactly $0,82 in total fees. I have to add the $2 i had to buy for the TRX transaction of my original Tether. That’s $2,82 bucks lost, of a total of $50, making a total of 1.41%.
In spite that might seem like too much for $50, finally some cash from an obscure chain which would have no use for me, is resting now safe at my device, (technically at the Bitcoin mainnet) being HODL. Complementarily to that, that % would be just the same for any amount, so there is no real use in measuring the fees from a % point of view.
It would have been a real headache to transfer $50 (or any amount of money) across the globe, let alone for less than $3 dollars.
If you think this guide was useful please try FixedFloat or Nexo through the affiliate links in the article. I would very much appreciate it. All earnings will be spent in buying boxed of good old lamen for the next month.
