In other words, users can exchange their assets without identity verification. Instead, transactions are conducted via a unique QR code. The innovation was introduced to assist in resolving an age-old conflict between the crypto community, the regulator, and exchanges that require identity verification (KYC) upon registration.
Although KYC procedures can be advantageous for both the user and the service provider, they have frequently caused friction between the two parties. In the worst-case scenario, it has been suggested that mandatory identity verification deters first-time customers.
FixedFloat offers a unique experience, as the spokesperson explained: "While creating an account on FreeFloat is relatively simple, our advantage is that we do not require our users to undergo mandatory registration. They can simply access our portal and initiate an exchange without taking any additional steps." In addition to providing its community with a high level of privacy, the platform makes it simple for anyone to enter the crypto market.
Additionally, user data security is ensured, and it is possible to track past transactions. Additionally, there are incredibly low transaction costs. FixedFloat applies the same $1 fee to both fixed and float exchange rates. In addition, lightning-fast settlements are guaranteed because the exchange is fully automated.
However, because FixedFloat is non-custodial, users cannot store coins in it. Nonetheless, it allows sending coins from hot wallets and saving on withdrawal fees for small transactions.
FixedFloat is a digital exchange founded by a group of blockchain enthusiasts that offers quick turnaround on crypto transactions without requiring identity verification or Know Your Customer (KYC) procedures.
Instead, users scan a unique QR code each time they make a purchase. Consequently, even new users can register, invest, and trade cryptocurrencies without their identities being verified.