- Support for an extensive variety of altcoins
- Potential for very low fees
- Easy to use trading platform
- Highly secure
- Poor customer service with limited options
- No mobile apps
- Not regulated
Livecoin is a well established cryptocurrency exchange that provides a modern and safe trading environment for buying and selling cryptocurrencies. The exchange is owned and operated by Red Velvet Investments Ltd. and was founded back in 2013. Livecoin’s headquarters are based out of Belize and the exchange is unregulated, just like most every cryptocurrency exchange. Though Livecoin is based out of Belize, they offer their services to people from all around the world and have representatives located in the United States, Russia, and China. Also, they offer their services in English, Chinese, Spanish, Portuguese, Russian, Italian, French, Malay, and Turkish.
Livecoin prides themselves on offering simple and intuitive trading services for beginners while also accommodating experienced traders with an array of advanced features. Since Livecoin was founded in 2013, it is considered one of the more experienced and reputable cryptocurrency exchanges as the entire crypto space was even newer back then. Therefore, how does Livecoin stack up to the competition with the influx of new cryptocurrency exchanges? Let’s find out in the following review where we’ll take a deep dive into all aspects that make up this exchange and discover whether they can be trusted and the quality of their services.
As with most cryptocurrency exchanges, Livecoin features their very own proprietary web-based trading platform. The platform is accessible from all desktop computers and web browsers making it a very convenient exchange to use. The platform is very well designed and has a focus on beginner users by having a clean user interface without too many features to grab their attention. The platform features a simple charting package where traders can conduct simplified technical analysis and view market details about the crypto they’re trading. Traders can place multiple order types such as standard market orders, limit orders, and pending orders. Unfortunately, the platform does not feature margin trading, but this is not uncommon among crypto exchanges. Another thing the Livecoin platform does not feature is a downloadable mobile application for Android or iOS devices. However, the web-based platform is compatible with mobile devices, but it’s still nice to use an app to manage and trade with. All in all, the trading platform is more than sufficient for the average trader but lacking in some areas for more experienced and professional traders.
Livecoin deals strictly with the cryptocurrency markets rather than traditional markets such as stocks, commodities, forex, etc. The cryptocurrency markets are universal and Livecoin features a wide variety of cryptos on their platform, including highly liquid and popular cryptos and a myriad of altcoins. These cryptos can be exchanged for either Bitcoin (BTC) or Ethereum (ETH), as well as fiat currencies. The fiat currencies supported include the US Dollar (USD), Euro (EUR), and the Russian Ruble (RUB). In total, Livecoin features more than 600 trading pairs and are continuously adding more. The sheer number of cryptocurrencies offered to traders is truly astonishing.
Fees and commission
The trading fees imposed on traders at Livecoin are dependent on their 30 day trading volume and are the same for makers or takers. The standard trading fee is 0.18% per trade and applies to traders with 30 day trading volumes of $0 – $100,000. As a traders trading volume increases their fees decrease and can be as low as 0.02% for a 30 day trading volume of $2 million. As for deposits, cryptocurrency deposits are free of charge and fiat currency deposits range from 0.1% all the way up to 10% and are dependent on the fiat currency and deposit method used. Regarding withdrawals, the fees vary between cryptos and range from 2% to 6% for fiat currencies. All in all, the fees imposed on traders are reasonable and comparable to other crypto exchanges but are not overly competitive.
Security and fairness
Livecoin is a very safe and secure cryptocurrency exchange who has been providing a fair, safe and secure trading environment for five years now. The exchange employs the latest and greatest security measures in order to protect their trader’s personal information and funds. Livecoin holds the majority of cryptocurrency funds offline in secured cold storage wallets. As well, traders can secure their accounts using Google two factor authentication, set an additional PIN, and set a white list of IP addresses. Livecoin also utilizes SSL encryption technology on all transmitted data. Overall, Livecoin is one of the safest, fairest, and most secure cryptocurrency exchanges.
The customer support offered by Livecoin is rather limited as it’s only available via support tickets. The support ticket system is good but can be slow and frustrating when you need immediate help. Other methods of support include contact through the exchanges social media channels such as Facebook and Twitter. Additionally, Livecoin features a small help section with an overview of what Bitcoin is and how to use their exchange services. Overall, the level of support is somewhat disappointing.
Livecoin is a highly reputable cryptocurrency exchange that has been in the business for five years, since 2013. The exchange primarily services beginner to intermediate traders, but also accomodates the needs of experienced crypto traders as well. They feature an extensive range of crypto assets and also support three different fiat currencies. The customer support is lacking at Livecoin, but the quality of their other services makes up for it.
The following are the common questions that customers inquired about Livecoin.
Is Livecoin regulated?
No, it is not regulated.
Is Livecoin a scam?
No, Livecoin is a legit exchange that has been successfully operating since 2013.
Where is Livecoin based?
Livecoin is based out of Belize.