Money Exchange
The Money Exchange, also called Currency Exchange, allows Fiat24 users to exchange one currency for another. For example, the user can exchange his USD for CHF. The trade and settlement are done in seconds.
Fiat24 doesn't charge any commission to the Money Exchange. However, depending on the external liquidity pool used, the pool will usually charge a small fee of 0.3%. The user will see the final rate shown transparently in the Fiat24 dApp.
We do out very best to choose a well-known and respectable external liquidity pool provider, where we expect fair exchange rates. However, we cannot guarantee it to 100%. The Fiat24 money exchange is a service available to Fiat24 users, and we do not use a market maker for it. In consequence, the exchange rate follows the rules of supply and demand in the market. If for some reason the exchange rate considerably deviates from a fair value, we expect Fiat24 users to use arbitrage opportunities and eventually reinstate a fair and stable exchange rate.
Last modified 6mo ago