Livecoin Crypto Exchange Review
The Livecoin platform is a bitcoin and altcoin currency exchange that offers multiple cryptocurrencies. It is also unique in that it allows for exchanging of fiat currency for multiple altcoins within the exchange. Founded in 2013, Livecoin seems to be aimed at altcoin traders and specifically Russian traders, as they offer multiple training videos and other material in Russian.
The platform interface is easy to use and offers quick access to multiple markets. Livecoin does not yet offer a desktop site, but it is mobile friendly and looks great on devices with a solid load time and pleasing aesthetics. The platform also offers 24/7 chat and email support.
Verification at sign up is only necessary for users who intend to use bank transfers for deposit. The verification process is not straightforward and cannot be done at sign up; it must be completed by contacting support through the contact page. The platform offers Two-Factor Authentication, PIN code, SMS, and e-mail security options.
How it Works
Livecoin only supports USD, EUR, and RUB fiat currencies, but conversely supports many digital currencies. That’s not what makes it stand out, however. While Livecoin offers the standard market orders and limit orders included in most exchange platforms, it also offers pending orders, a system that is triggered when the price hits a certain level specified by the trader. This technique is very useful in competitive markets, or when an investor can influence a market with a large order. Pending orders avoid disturbing the market by keeping orders off the books and out of the public eye.
That is not the only unique process Livecoin has to offer, however. The biggest and most impressive pull to the Livecoin platform is the ability to trade fiat directly to altcoin. While most platforms require fiat to be traded to BTC before it can be exchanged for other types of coin, Livecoin makes the process significantly easier by allowing users to directly transfer between fiat currency and cryptocurrency. This makes exchanges easier and lets users have more control over the value they will be gaining or losing.
Fees are highly competitive. Livecoin attempts to offer bonuses for makers, incentivizing them to put forward more offers. Bonuses range from .01% to .1%, and fees for takers are built on a competitive model. Monthly investment volume causes fees to drop, and volumes above 300K USD allow for the absolute minimum .01% fee. Livecoin feels that avoiding fees when possible and offering incentives to lower fees also encourages liquidity in the market.
When it comes to deposits and withdrawals, ones done as cryptocurrency are not subject to fees, while fiat deposits and withdrawal fees will vary.
While Livecoin functions like many exchange platforms out there, it does up the game in a couple very important ways by offering pending orders and fiat to altcoin exchanges. This can certainly prove to be appealing for traders and investors who are looking for those specific options in their exchange platforms.