Does FixedFloat Require KYC? 5 Situations That Can Pause a Crypto Swap (2026)
Does FixedFloat require KYC?
Not for a normal swap. FixedFloat’s Terms of Service, last updated on 2 October 2026, say that to make an exchange “the User does not have to register or log in to the Service system and provide personal data.” The same terms list the situations in which an order can be paused and the sender asked where the funds came from, and in rare cases asked to verify identity. This guide walks through those five situations, what happens next, and how to keep your swaps out of them. It is educational, not legal advice.
Swappr in one line: a free Android app for multi-coin swaps, powered by FixedFloat. What it does, in practice:
- Pick the coin you have and the coin you want; each pair shows its minimum and maximum amount.
- See the estimated amount you receive and choose a Fixed or Float rate.
- Paste your receiving address on the network shown, send the exact deposit, tap “Sent”.
- No exchange account to open: you send from your own wallet and receive to an address you choose.
Details and screenshots are on the Swappr homepage, with the app on Google Play.
Identity checks: instant swap vs exchange vs DEX
| Route | Account or ID at the start? | Can funds be held for review? | Where a refund goes |
|---|---|---|---|
| Instant swap (Swappr, via FixedFloat) | No account; personal data not required for an exchange | Yes, in the five situations below | FixedFloat’s terms: after verification, only to the address the funds came from |
| Centralised exchange | Account and identity verification are typically required before trading | Yes, under the exchange’s own compliance rules | Back to your exchange balance |
| DEX (smart contract) | No account | Not by a company, though front-ends may block some addresses | No refund path; trades are final |
Who each fits: an instant swap suits one-off conversions between coins you hold in your own wallet, including across different blockchains. An exchange suits frequent trading and fiat on-ramps, with identity checks up front. A DEX suits tokens on a single network if you are comfortable signing contract transactions. Our comparison of instant swap vs exchange vs DEX covers fees, speed and custody.
The five situations that can pause a swap
1. Funds “clearly related to criminal activity”
Section 7.1 says an order may be suspended “when the User sends funds that are clearly related to criminal activity”. Section 7.2 says FixedFloat can establish that link from business partners, public sources, victim complaints and law enforcement requests, and 7.3 says it may decline to reveal the source. In plain terms: if the coins you send trace back to a hack, scam or theft, the order can stop even if you received them innocently.
2. Funds tied to sanctioned addresses
Section 6.3 prohibits sending funds “directly related to addresses or contracts that have been sanctioned”, and says FixedFloat follows the sanctions regimes of the UN, the EU and the USA. Such funds can be frozen. Public lists exist, such as the US OFAC sanctions search and the EU sanctions map.
3. Funds straight from services that refuse AML rules
Section 6.4 covers funds “directly linked to addresses of centralized services that openly declare their willingness to facilitate the laundering of criminal funds” or refuse anti-money-laundering requirements. Coins that passed through such a service just before your swap carry that risk with them.
4. Gaming the refund rules
Section 6.5 treats deliberately breaking the exchange rules to get a refund, simulating use of the service without a real exchange, as abuse. In that case FixedFloat may “conduct KYC and SoF procedures” (identity and source of funds) and then either complete the swap or refund only to the original sending address.
5. Using the service from a prohibited jurisdiction
Section 5.2 prohibits use by people located in or accessing the service from Georgia or India, by citizens and residents of the United States, and by people in countries on the UN sanctions list, plus anywhere crypto or the service is banned by local law. Read the current terms for your country before you swap; they can change.
What happens if your order is paused
- Keep the order details. Order ID, the coins and networks, your deposit TXID and your receiving address. Section 7.11 asks users to keep records of suspended orders.
- Write from the right email. Section 7.1 says the sender must email compliance@fixedfloat.com from the email address given on the order, and all further contact happens by email. If you swapped in Swappr, also write to Swappr support at the address listed on swappr.website with the order details.
- Explain where the coins came from. Section 7.5 asks for “full details of the origin of the funds”. An exchange withdrawal record, a purchase receipt or the earlier transactions that brought the coins to your wallet are the kind of evidence that answers this. Section 7.7 says the sender must provide it personally.
- Identity verification only as an exception. Section 7.9 says that if you cannot show the source for objective reasons, you may be asked to verify identity, and refunds are then made “exclusively to the address from which they were received.”
Refusing to answer, or answering falsely, can lead to the funds being frozen for return to victims with law enforcement involved (section 7.8).
How to keep your swaps out of review
- Send from a wallet you control. Refunds after a review go back to the sending address. If that address belongs to an exchange, getting the money credited can be slow or impossible; see our six risks of sending a swap deposit straight from an exchange.
- Know where your coins have been. Do not swap coins received from strangers, “recovery agents” or offers that seemed too good. If in doubt, do not send them anywhere.
- Keep your paper trail. Save exchange withdrawal histories and purchase confirmations for coins you plan to swap.
- Follow the exchange rules. One transaction per order, the exact network, and sending on time all avoid the separate manual-processing route; our guide to expired, short or doubled swap orders explains those cases, and our refund address vs receiving address checks cover the address side.
FAQ
Do I need to verify my identity to use Swappr?
Not for a normal swap. FixedFloat’s terms say an exchange needs no registration, login or personal data. Identity verification appears only as an exception in the review process for suspended orders.
Why was my swap put on hold?
Under FixedFloat’s terms, orders can be suspended when the funds are linked to criminal activity, sanctioned addresses or services that refuse AML rules, or when the exchange rules are abused. The order page or an email from FixedFloat states what is needed next.
How long does an AML review take?
The terms do not give a fixed time for AML reviews. The order stays suspended until the requested information is provided and assessed, so answer completely and from the order email.
Can I get a refund to a different address after a review?
No. Section 7.9 says refunds after verification are made only to the address the funds came from. That is one more reason to send deposits from your own wallet.
Sources
- FixedFloat Terms of Service, sections 5, 6 and 7 (last updated 2026-10-02; checked 2026-10-18)
- FixedFloat support contacts, including suspended-order support (checked 2026-10-18)
- US Treasury OFAC sanctions list search (checked 2026-10-18)
- EU sanctions map (checked 2026-10-18)