Quick transactions are the default exchange in Coinomi, accessible via Changelly or Shapeshift. They refer to a transaction where the user inputs an amount to exchange and is given a current exchange rate. With this quick order, the user does not need to specify the amount of a certain coin or token they want to receive. They must deposit an amount between the maximum and minimum limits of the exchange. The deposit maximum is usually lower with quick exchanges and the instant exchange rate updates every 10seconds, and can change during the transaction.
In Coinomi, you can create a quick transaction in-app using either Shapeshift or Changelly. To do so, just select the assets you would like to exchange between and input the amount you wish to send on the left. A value will automatically be calculated on the right. This value on the right represents the amount of coins/tokens you are expected to receive from the exchange. Exchange rates may fluctuate slightly during the exchange process.
Precise transactions (also know as specific amount orders) refer to a transaction where the user tells ShapeShift the amount they would like to receive before the exchange is initiated. On shapeshift.io, users are prompted with a deposit address and the exact amount to send. In Coinomi, the transaction data will be auto-filled when you press "Next". With precise exchanges, the deposit must be complete within 10minutes of initiating the exchange. Users generally will receive a better exchange rate during precise transactions as well as an increased maximum deposit limit, the given rate is locked in and will not change during the exchange process.
In Coinomi, you can create a precise transaction in-app using Shapeshift. To do so, select 'precise' and input the amount of coins/tokens you would like to receive on the right. A value will automatically be calculated on the left. This value on the left represents the amount of coins/tokens you will send to Shapeshift for the exchange. Exchange rates will not fluctuate during the exchange process. This feature is native only to Shapeshift.
We're hard at work improving our error-messaging and error-handling functionality concerning the in-app exchange.