Last updated: September 3, 2026
A fixed-rate swap locks the amount you’ll receive for a short window, protecting you from price moves; a floating-rate swap follows the market until your deposit confirms and is usually a little cheaper. Choose fixed for volatile pairs or larger amounts, floating for speed and best price on calm pairs. Both are fully no-KYC. Pick your rate type in the tool above or open BTC → XMR.
- Fixed = locked output
- Floating = market price
- ~10–15 min fixed-rate window
- 0 account / ID
How each one works
With a fixed rate, the exchange guarantees your output if you deposit within a short window (often ~10–15 minutes). It absorbs the price risk, so the quote is slightly less generous. With a floating rate, your output is calculated when your deposit actually confirms — you take the price risk, and in return the rate is usually a touch better.
Fixed vs floating at a glance
| Fixed rate | Floating rate | |
|---|---|---|
| Output amount | Locked | Moves with market |
| Price risk | On the exchange | On you |
| Typical cost | Slightly higher | Slightly lower |
| Best for | Volatile / large | Calm / speed |
| Time pressure | Deposit in the window | Relaxed |
When to choose which
- Fixed — large amounts, volatile pairs, or when you want certainty about what lands.
- Floating — small/routine swaps on stable pairs where a slightly better price beats certainty.
- Either way — anonymity is identical; rate type doesn’t affect privacy.
How to pick it in a swap
- Open a pair, e.g. BTC → XMR.
- Toggle the rate type; compare quotes from 30+ exchanges.
- For fixed, deposit within the shown window to lock your output.
A quick rule of thumb
If the amount is large or the market is moving, choose fixed and deposit promptly to stay inside the lock window. If the amount is small and the pair is stable, floating usually shaves a little off the cost. Either way the receiving coin, the privacy and the no-account flow are identical — rate type only changes how the price is calculated, not how the swap works.
Frequently asked questions
Can I change rate type after quoting?
You choose before creating the swap. To switch, just re-quote with the other rate type in the tool.
Does floating ever cost more than fixed?
It can, if the market moves against you before your deposit confirms. Fixed removes that uncertainty for a small premium.
Is a fixed or floating rate better?
Fixed protects you from price moves (best for volatile or large swaps); floating is usually a bit cheaper (best for calm pairs and speed). Neither affects anonymity.
Why is the fixed rate slightly worse?
Because the exchange takes on the price risk during the lock window, it builds a small buffer into the quote.
What if I miss the fixed-rate window?
The quote may be re-priced or the swap switched to floating. Deposit promptly, or choose floating if you can’t.
Does rate type change my privacy?
No — both are no-KYC, non-custodial swaps. Only price behaviour differs.
Compare both: open BTC → XMR and toggle the rate, or compare all exchanges. No account, no ID, no logs.