Cryptocurrency exchange terminology: From quote to credit.
From quote to arrival, what do these 12 common terms each mean? Each term includes an operational checklist, and you can continue reading the corresponding guide for specific questions.
- QuoteExchange quote · Estimated receipt · Quote
A quote is an instant calculation of the estimated amount to be received after selecting the coin, network, and amount. It corresponds to this direction and rate type; seeing a quote only means the estimate has been completed, and does not mean the order has been created, funds have been sent, or the final receipt has been completed.
In practiceCheck the sending and receiving coins, networks, and amounts; after changing any item, get a new quote.
- Floating rateStandard rate · Standard rate · Floating Rate
Under a floating rate, the page first shows the estimated amount to be received, but the actual result may still change with the market, network fees, and processing time. A quote seen earlier is not an always-valid price-lock commitment; the estimated amount and the order's final record should be read separately.
In practiceConfirm that the order is marked as a floating rate; check the current estimated receipt, and after completion verify the actual amount and the outgoing transaction record.
- Fixed rateLocked exchange rate · Fixed quote · Fixed Rate
A fixed rate locks the exchange result within the conditions agreed in this quote and order. Whether it can be executed at that result still depends on requirements such as the payment deadline, amount, and network; the quote validity period and the payment deadline after order creation are two separate checkpoints and must not be conflated.
In practiceFirst check whether the quote is still valid; after creating an order, check that order's payment deadline and amount due.
- Miner fee / GasNetwork fee · Gas fee · On-chain fee
Miner fee is a common name for the network fee. Ethereum uses Gas to measure computational work, and fees are priced in ETH; TRON uses resources such as bandwidth and energy. A token balance and the ability to pay network fees are two different things, and the fee is not the same as the exchange service fee.
In practicePreview this fee in the sending wallet and check the required network asset or resources; do not treat the asset you expect to receive as already available to pay the fee.
- Minimum exchange amountMinimum exchange amount · Minimum deposit amount · Minimum Amount
The minimum exchange amount is the lower limit of the send amount that the current route can process, and it varies with the coin, network, rate type, and network costs. It is a condition of this exchange, not a wallet minimum balance; if it is below the interface requirement, the order may not be processed as expected.
In practiceGet the latest lower limit for this route, then check whether the amount actually sent after wallet or platform deductions meets the order requirements.
- How is the actual arrival of a cryptocurrency exchange calculated? Fee and minimum amount verification ↗
- How to check a cryptocurrency exchange that keeps processing? Order status and transaction hash troubleshooting ↗
Official sources:FeilongEX: Exchange amount range ↗- Receiving addressReceiving address · Receiving address · Payout Address
The receiving address is used to receive the target asset after exchange, and you obtain it from the receiving wallet or platform. It must correspond to the selected target coin and network; passing the address format check does not mean the receiving platform supports that asset or can already credit the funds to your account.
In practiceConfirm the target coin and network on the recipient's page, then copy the address and any required tag, and return to the order to check item by item.
- How to choose between USDT TRC20 and ERC20? First verify the receiving network ↗
- What to do if the wrong transfer network was selected? Check the transaction first, then determine whether it can be handled ↗
- How to fill in Memo and Tag? Item-by-item verification of deposit, receiving, and refund tags ↗
- Deposit addressDeposit address · Payment address · Pay-in Address
The deposit address here refers to the deposit address provided by the order, used to receive the original asset you send for this exchange. It is generated by the exchange service and may also come with a dedicated tag; its role differs from the receiving address that receives the exchange result, and the current order should be used as the basis when paying.
In practiceCopy the payment address from the current order; compare the sending coin, network, amount, and the Memo or Tag given by the order item by item.
- How to check a cryptocurrency exchange that keeps processing? Order status and transaction hash troubleshooting ↗
- How to fill in Memo and Tag? Item-by-item verification of deposit, receiving, and refund tags ↗
- What to do if the wrong transfer network was selected? Check the transaction first, then determine whether it can be handled ↗
- Refund addressRefund address · Refund Address
The refund address is used to receive the returned original asset when conditions are met and refund processing begins, and it must support the coin and network originally sent. It is not necessarily the same as the receiving address for the exchanged asset; filling in this address does not by itself guarantee that a refund is possible, that the full amount will be returned, or that it will arrive within a fixed time.
In practiceCheck the refund address according to the original sending coin and network; if the receiving platform requires a tag, check the refund tag as well.
- NetworkBlockchain network · Mainnet · Blockchain Network
A network is the specific blockchain that records and processes an on-chain transaction. Assets with the same name can exist on different networks; for example, USDT exists on both Ethereum and TRON. Choosing the same coin name does not mean the networks match, and an ordinary transfer will not automatically move the asset to another chain.
In practiceConfirm separately the network used for payment and the network of the target asset; the sending end and the corresponding receiving end of each transfer must match.
- Memo／TagMemo · Destination Tag · Destination Tag · Extra ID
Memo or Tag is additional identifying information used by certain networks, assets, or receiving platforms, often to distinguish different accounts at a shared address. Together with the address, it helps confirm the ownership of funds; whether it is needed and what to enter should be based on the requirements of the corresponding recipient or order.
In practiceCheck the receiving tag, the order payment tag, and the refund tag separately; when required, copy them in full and do not substitute memo text on your own.
- Order numberExchange number · Order ID · Order ID
The order number is a query identifier generated by the exchange service for one order, linking the quote conditions, payment information, and processing progress. It is used to query the entire exchange, not as proof of a transfer on a particular chain; the order number alone cannot show that the user has paid or that the exchange is complete.
In practiceSave the current order number and use it in order queries; confirm the channel before providing it to official support, and do not make the full order page public.
- Transaction hashTransaction ID · TXID · Transaction hash · Transaction Hash
A transaction hash is the identifier of a transaction on a certain blockchain, and can be used to check status, addresses, and confirmations. The same exchange may have separate deposit, outgoing, or refund hashes; the existence of a hash does not mean the transaction has succeeded, nor that the receiving platform has credited it.
In practiceFirst distinguish whether it is a deposit, outgoing, or refund hash, then open the explorer for the corresponding network to check the status, address, and amount.