Quick transactions refer to an exchange type where the user does not need to specify the amount they want to receive and they can deposit whatever they would like, as long as it is between the deposit limit (maximum) or minimum. The deposit address produced for a Quick exchange can also be reused if the user selects the feature prior to starting the exchange.
Precise transactions refer to an exchange type where the user specifies how much they are wanting to deposit/receive before we provide you with a deposit address. You can get a better rate with this type of exchange and a higher deposit max. This exchange has a five minute timer. Once the timer expires, the rate expires.
We have a great blog post that explains this in greater detail, if you would like more information.
The Difference in Quick vs. Precise Exchanges
