Broad Review of Livecoin
Livecoin.net is a trading platform for cryptocurrencies that is truly on a global scale. Having begun as an exchange for only BTC and LTC coins; today it supports a huge number of cryptocurrencies and it’s on the top 10 largest altcoin exchanges online.
What makes it even more popular is its user-friendly highly-functional interface, which is ideal for both novice and expert traders. It has a multilingual feature that allows users to use a translated version of the site. These languages include English, Spanish, Russian, Chinese, Portuguese, Indonesian, Italian and French.
The platform was designed to work for experts and beginners alike. To make things easy for users, Livecoin developers created an interface that has a simple layout and is easy to use. Special features and tools are also available to help traders execute lucrative trades.
What is Livecoin?
Livecoin is a crypto exchange platform that offers a peer-to-peer exchange of cryptos for cryptos and for fiat currency. Livecoin is based in London, UK, but their servers are situated in Metairie, Louisiana, US. The exchange was founded in 2013, by a London-based company called Delta E-commerce LTD.
What countries does Livecoin support?
- All countries are supported except the US.
- There are special features for Russian users including instructional videos which are in Russian. This could be because the number of Russian users on Livecoin is significantly huge, but to be fair, Russians are crypto fanatics.
Livecoin payment methods
Livecoin offers a number of payment options to its users. You have the option of paying via Perfect Money or bank transfer. You also have the option of using any of the following online payment platforms:
The fact that Livecoin allows users to use online payment platforms to fund their accounts. This means that you can use your credit or debit card, although not directly on the site. Livecoin does not support direct account funding or withdrawals via credit/debit card.
You can also deposit and withdraw digital currency to and from the exchange.
The minimum a user can order is 0.0002 BTC. There is no minimum on deposits, but there is a minimum withdrawal limit. For instance, the minimum BTC you can withdraw on Livecoin is 0.02, and this limit differs for all the other cryptocurrencies.
If you are using Perfect Money, the withdrawal limit is $10 or 10 EUR.
If you are using Livecoin’s supported online payment platforms. The withdrawal limits are as follows:
- Payeer – 10USD/10EUR/100RUR
- Capitalist – 10USD/10EUR/100RUR
- AdvCash – 10USD/10EUR/100RUR
The exchange supports the following FIAT currencies:
- US dollar
- Russian Ruble
When it comes to virtual currencies, Livcoin supports a huge number of altcoins. Some of these include:
- Ethereum Classic
- And many other
- The site does not offer much information about its verification process, but some Livecoin users have mentioned it on the crypto forum Bitcointalk.
- Apparently, only users who wish to fund their accounts via bank transfer are verified, but the process is not detailed on the site.
- So if you want to verify your account, you will be directed to their contact page.
Trading fees per volume.
- Trading volume (in USD) Fees
|0 – 100,000||0.18%|
|100,001 – 200,000||0.16%|
|200,001 – 400,000||0.14%|
|400,001 – 600,000||0.12%|
|600,001 – 800,000||0.10%|
|800,001 – 1,000,000||0.08%|
|1,000,001 – 1,500,000||0.06%|
|1,500,001 – 2,000,000||0.04%|
|2,000,001 – ∞||0.02%|
- Fiat Currency Deposit Fees
|Payeer.com||USD, EUR 4% RUR 6%|
|Wire transfer (SWIFT)||EUR: 10 EUR USD: 50 USD|
- Fiat Currency Withdrawal fees
|Capitalist.net||USD, EUR, RUR 2%|
|Payeer.com||USD0.5%. EUR 0.2%. RUR 5%|
|AdvCash||EUR, RUR 1%. USD: free|
|Wire transfer (SWIFT)||EUR: 15 EUR
USD: 1.5% +9USD
Livecoin offers a good range of trading tools including arbitrage and bots trading. It also offers its users a 2-factor authentication feature as an extra layer of security.
Is LIVECOIN safe?
This is a question that is commonly asked and for good reasons. You definitely do not want to lose money or your coins by trading on a scam exchange. That being said, is livecoin safe? Is livecoin legit? Can I trust livecoin? The answer to all is yes. It is safe and it has a 2-factor authentication feature, which users can enable to add more security to their accounts.
However, the site cannot protect you from rogue traders. So make sure you buy from or sell to traders who have high rating reputation-wise.
How to use Livecoin?
To use Livecoin, here’s what you need to do.
- Register an account on the site. To do this, click on the “Open Trade Account” button that is on the main page. Type in your email address, password, username and a referral code if you have one. A verification link will be sent to your email with a verification code. Click on the link to be redirected back to the site and enter the verification code to complete the process.
- Set your 4-digit payment password PIN and make sure it is strong. Do not lose your pin because Livecoin will charge you 0.01BTC to change it.
- Deposit fiat or digital currency in your account using any of the available payment methods provided and you can start trading.
How to trade on Livecoin?
Trading on Livecoin is pretty straightforward. If you want to buy or sell, navigate to the sell/buy page and from there enter the amount you want to sell or buy, and the currency you want to transact in. That’s it.
You will notice, like on many other exchanges, Livecoin offers limit orders and market order. It also offers pending offers, which are not very common.
A pending order is more like a trigger that is activated once the price hits the mark set by the trader. It does have its advantages, but mainly traders love it because they can keep their offers private.
One thing you need to know about Livecoin is that it does not support margin trading; neither does it support the trading of futures or derivatives.
Like many exchanges, you can view the fiat and crypto pairs available. On Livecoin, you can trade LTC/USD, LTC/EUR etc.
Benefits of using Livecoin
Easy to use
Livecoin has a well-designed interface that is easy to use and understand. The site is responsive and has a fast load time. However, Livecoin does not have apps for IOS and Android devices.
Livecoin has a professional and reliable support team that can be reached via email or live chat. They have also have an FAQ page on Bitcointalk, where users can interact by asking questions and sharing information.
The site offers 2FA and a PIN code. It also offers email and SMS notifications; however, emails are not encrypted. While these security measures seem minimal, so far, they have not been any reports about hack attacks.
Most Livecoin users love the way the interface looks and how easy it is to navigate around the site.
Livecoin has undoubtedly created a good reputation for itself; otherwise, it wouldn’t be one of the largest crypto exchanges online. The reasons why Livecoin is so popular is because;
- It supports a wide range of altcoins.
- It has a high number of currency pairs.
- It has a simple, functional and user-friendly interface.
- The trading fees are quite low.
- Their customer support can only be reached during Livecoin’s office hours.
- The platform does not support the direct funding of account using credit/debit cards.
- Their server speed could be improved.
Feel free to check our site to learn more about Livecoin and other exchanges. Don’t miss out on the best online money-making opportunity of the century. Thank you.