Bitcoin Forum

Hi guys. Here's to discuss fixed rates and its lenght. I'm using Trezor wallet and this morning I found out that now they are fixing an exchanging rate for like 15 mins, cause of the partnership w/ changelly. That was actually one of the longest fixed rate I've seen yet.
So now I'm wondering, is there any list of services that indicate the duration of a fixed rate?
What are the longest fixed rates that were offered to you?

This doesn't matter. 15 minutes is really a lot, but it makes no difference actually. You can just reload the page and you will receive an updated rate.

If  a crash within those 15minutes happens (which is highly unlikely), changelly will simple refuse to make your conversion. It is a centralized service, they will look at your rates and refund you.

So it really doesn't matter, and you will not make money by using a long fixed rate.

Not an exchange, but there was a site I used in the past for buying gift cards with bitcoin which gave you a 1 hour window to make a payment at a fixed rate. This wasn't even an hour to get the transaction confirmed, but just to broadcast it. If the 1 hour window expired without you making the payment, the order simply automatically cancelled. You were free to make as many orders as you liked, so technically it would be possible to hold off for a better rate. I can't remember the name of the site though - I stopped using it after they stopped offering the only card I was interested in buying from them. I know the major gift card sites at the moment like Bitrefill generally offer around a 15 minute window.

Doesn't coinpayments lock the rate for like 6 hours? 15 minutes sounds very short especially if the transaction has to confirm within that timespan.

I was offered 8% interest by a crypto company to deposit my cryptocurrency on their platform to receive 8% interest per year.

The user who talked about 6 hours doesn't know what he is talking about. He is probably talking about something else.
We are talking about market prices, which change every second. There is no sense in making a fixed value for hours.

They just mark 15 minutes on their sites for operational reasons, problably. You won't be making money in those 15 minutes. If there is big price change, they will refund you and won't make the exchange. They are not going to pay a price very different from with anything happen in those 15minutes.

This might make sense only if you're exchanging large amounts. More generally, the chances of losing or gaining with fixed rates are almost the same as with floating rates. So I would pay more attention to the fees.
But anyway, its nice little thing from the service.

Im surprised that this small detail does still give out some concern on some people.Im with those words that you have said that this doesnt really matter at all.

When it comes to conversions i dont pay much attention with this matter as long it do confirms and transferred,i dont really care afterwards.  ;D

For coinpayments the fixed rate lasts for 8 hours I only knew this because I bought a monthly subscription from a certain service.  

My local exchange only gives me a small window of like 20-30 minutes but I think even if the transaction fails to confirm they'll still use the same rates.

It depends on the situation, if you're only exchanging cryptocurrencies from specific exchanges like changelly or coinswitch that have limited time windows it doesn't matter because others would prefer to receive their converted coins in a few minutes rather than waiting longer for such minimal price difference.