There are two different ways to initiate an exchange when using our in-app exchange ShapeShift.
Quick transactions are the default exchange in Coinomi, accessible via Changelly or Shapeshift. They refer to a transaction where the user inputs the receiving address and is given a deposit address from ShapeShift. With this quick order, the user does not need to specify how much of a certain coin or token they want to receive. They must deposit an amount between the maximum and minimum limits. There is no timer to indicate how quickly users must deposit coins to the deposit address, which can be reused infinite times. The deposit maximum limit is usually lower with quick transactions. The instant rate updates every 10 seconds, 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 input the amount you wish to send on the left. A value will automatically be generated on the right. This value on the right represents the amount of coin 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 want 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". Users may get a better rate with this type of order as well as a higher maximum limit to deposit. Users only have 10 minutes to deposit funds to the provided deposit address, which can only be used once. 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, just input the amount you wish to send on the left or click "PRECISE". A value will automatically be generated on the right. This value on the right represents the amount of coin you will receive from Shapeshift. 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.