How FixedFloat's fixed rate actually works
A fixed-rate order on FixedFloat costs 1% and freezes the rate for ten minutes, but only if the deposit is seen within that window, the exact amount arrives, and the market has not moved more than 1.2% by then. If any condition fails you choose between continuing at the market rate or a refund minus the network fee. Floating orders cost 0.5% and stay open for 30 minutes.
TorrentSwap quotes are valid for about two minutes before you confirm; after that, each route carries a protected minimum: if the executing protocol cannot deliver at least that amount, it refunds your deposit instead of filling it at a worse price.
Custody and the 2024 incident
On FixedFloat, your deposit goes to an address the service controls until it pays out. In February 2024 FixedFloat confirmed a security breach; Cointelegraph reported at least $26 million in BTC and ETH drained from the service.
TorrentSwap never controls a deposit. Your coins go to the protocol named on your route, and swaps are spread across several independent protocols rather than one operator's wallets. That does not make any route risk-free, but it removes TorrentSwap itself as a custody point.
Mistakes and recovery fees
FixedFloat handles wrong-network or unsupported-coin deposits case by case within 7 to 30 days, charges $10 plus the miner fee for unsupported cases (only above $20), and charges 10% (minimum $10) to recover a deposit sent without a required memo or tag. TorrentSwap only offers routes whose deposit is a plain transfer with no memo, and validates both addresses for the exact network before showing a deposit address.
- No account at any point: no email, no ID upload, no sign-up flow to fall back on
- Every quote names the protocol that executes it (NEAR Intents, Chainflip or Flashnet), ranked by what you receive
- All fees already included in the amount shown, with the total displayed before you confirm
- 39 assets on 17 networks, native coins only (no wrapped IOUs); no Monero and no fiat
- If a protocol cannot meet your minimum, the deposit is refunded to the refund address you entered
When FixedFloat may suit you better
If you need Monero, Lightning, or a strict ten-minute fixed rate from one exchanger, FixedFloat offers that and TorrentSwap does not. For the native assets both cover, compare the received amount for your size: on larger swaps, competing protocols often beat a single exchanger's float price.