Livecoin Exchange Review 2021 - The Exchange Is Closed!
Update 15.03.2021: The exchange is closed
LiveCoin exchange doesn't exist anymore. The platform was subjected to a hacking attack in December 2020. Unfortunately, the team behind the exchange didn't manage to recover the operations and in January 2021 LiveCoin announced it will be shut down. By mid-May the exchange stopped to accept refund claims. In order to withdraw their money clients were asked to provide much personal data to verify. Some users believe these demands were excessive or even suspicious. The amount of money withdrawn by the criminals is not known to the public.
they ask too much and some unnecessary info which is suspicious pic.twitter.com/KD1nTydDUB
— Ahmed (@ahmed_adali) January 18, 2021
Below you can see the review we wrote about Livecoin prior to its closure.
LiveCoin crypto exchange is a reliable and convenient platform for trading and investing in digital currencies, successfully operating since 2013. Resource developers monitor the market and timely add new, sought-after and promising coins. The design and functionality of the exchange, as well as special attention to the security of user accounts and funds, are also important. Still, is LiveCoin a scam and or a reliable and secure platform that guarantees full-fledged cryptocurrency trading and an unhindered withdrawal of earnings? We will answer these serious questions in a review of the LiveCoin exchange.
- What Is LiveCoin?
- LiveCoin Fees
- LiveCoin API
- How to Use LiveCoin exchange
- How to Buy on LiveCoin
- LiveCoin Withdawal
- LiveCoin Reviews
- Is LiveCoin Legit?
- Is LiveCoin Safe?
- Conclusion
What Is LiveCoin?
The exchange was launched in 2013 by a company named Delta E-Commerce Ltd. A simple and convenient terminal, favorable rates, website support for several languages, a large selection of assets (Bitcoin, Litecoin, Ethereum, Dash, Ripple, etc. are available for traders) and various ways of depositing and withdrawing money - all this can do the work on the crypto exchange functional and profitable for a modern trader.
The company focuses specifically on the international market. The interface of the official livecoin.net website is presented in 9 languages (English, Russian, Chinese, Spanish, Portugal, Italian, French, Turkish, Indonesian.
The platform is suitable for both experienced traders and beginners. Experienced users will be able to deal with the basic functionality of the project in no more than 15-20 minutes after registration. For beginners, training materials are provided in the form of a video lesson.
Unfortunately, for 6 years of operation, the exchange has not developed a mobile application. The launch of the application would greatly simplify user access to their profile and platform functionality. Among the main advantages of the exchange are:
- 9 interface languages;
- Large selection of trading pairs;
- Loyal commissions;
- Affiliate program;
- High security;
- Tutorials.
The option of exchanging currencies for fiat money takes place on the same resource, which greatly simplifies all work. Most often, exchanges offer the swap of altcoins only for bitcoins, while Livecoin makes it possible to exchange coins directly for fiat money.
Where is LiveCoin based?
The company is based in London, UK, although the servers are located in Metairie, Louisiana. However, LiveCoin doesn’t seem to focus on one specific region or country. LiveCoin is a global exchange.
It is worth noting, that Livecoin offers a number of features for Russians, and some of the instructional videos are in Russian, it follows that Livecoin is particularly popular with a Russian audience.
LiveCoin Fees
The exchange trading commission for entry-level users is 0.18% of each transaction. With the growth of the monthly turnover, the rate decreases and can reach 0.02%. More details can be seen in the table below or on the LiveCoin website.
LiveCoin API
Livecoin is also attractive since it has an open API (including WebSocket API), which allows you to trade using automated software. To automate trading on the exchange, you can use trading bots - special programs that trade through the API. Detailed information can be found on the website.
How to Use LiveCoin Exchange?
As usual, before you start working with the service, you need to register on the official website. The registration process is very simple, you can do it quickly: On the LiveCoin website, select "Open an account", fill out the registration form: enter username, password (repeat), email, referral code (optional).
To fill out the registration form, you will need to come up with a login (in Latin letters), a password of 12 characters (with at least 1 number and 1 capital letter), an email address and, if any, a referral code. Next, you should confirm that you are not a robot and read the rules of the exchange and check the box.
An email containing a confirmation code will be sent to your email, you can copy it and enter it yourself, or you can simply follow the link. Now you can go to the site using your username and password.
Immediately after entering, the exchange will offer to set a 4-digit PIN code, which will be requested to confirm payment transactions.
How to Buy on LiveCoin?
It is worth noting that the Livecoin exchange offers good trading conditions for both experienced traders and beginners. A convenient interface and a training video have been created for the latter. For experienced clients, in addition to market orders, limit ones are also offered. Using the HFT (high frequency trading) using electronic trading instruments is also possible on the exchange.
Thanks to an intuitive terminal, it’s not difficult to figure out how to trade on the LiveCoin exchange. We buy cryptocurrency in the Buy / Sell tab. In the left sidebar, select the currency pair, on the right - we see the quotation chart, which switches from “Japanese candles” to display the depth of the market.
Here, below the chart, there are fields for the formation of orders to buy and sell coins.
At the bottom of the page, the trading history is displayed, as well as information about the user's orders - open and closed. Thus, in order to buy bitcoin, for example, for dollars, you need to select the BTC / USD currency pair and create a buy order.
LiveCoin deposit time
The deposit time depends on the currency, amount of deposit and the blockchain load. Usually the avarage time frames are from 15 minutes to several hours.
LiveCoin Withdrawal
Funds withdrawal from a cryptocurrency account on the exchange to a personal wallet is carried out in the "Balance" section. After choosing the desired currency, click the "Withdrawal" button, indicate the amount and address of the wallet.
You can withdraw money from Livecoin: in cryptocurrency; via payment systems QIWI, Yandex.Money, Webmoney, AdvCash, PerfectMoney, Payeer, Capitalist, Okpay; by transfer to Visa / Mastercard bank cards.
LiveCoin Reviews
A lot of information is presented on the Internet about what the LiveCoin exchange is. Reviews of traders on cryptocurrency trading on the site today are diverse. Among the advantages, reliability and security of the platform, functionality, convenience, and ease of operation, high-quality technical support, the ability to automatically trade robots, support for fiat money and major cryptocurrencies, and high-quality analytics are more often noted. Often traders mark the exchange as an ideal solution for beginners.
Among the negative aspects, problems with the withdrawal of money, high commissions when working with fiat funds, and frequent failures on the LiveCoin website are usually mentioned. You can read more information on the platform on LiveCoin Facebook and Twitter. More reviews you can find on LiveCoin TrustPilot.
Is LiveCoin Legit?
LiveCoin is an officially registered company that is subject to the laws of Great Britain. So, the organization adheres to the following principles in its work: ensuring the security of the cryptocurrency trading process, confidentiality, and security of users' personal information, combating money laundering and supporting fraud.
The official website of the company offers the safest working space, however, the user must also be careful when working with passwords, providing an account to third parties, etc. To control and ensure the internal security policy of the service, a number of programs are used that collect data about users and their transactions, including using cookies. According to the principles of AML, the exchange has the right to request information from customers, track their activities on the site, types of transactions in order to prevent illegal activities (terrorism financing, fraudulent schemes, etc.). You can read even more information about the rules of the site’s functioning on the Livecoin exchange website in the User Agreement section.
Is LiveCoin scam?
Is it worth arguing that Livecoin is scam and divorce? Today we will answer this question: no, since the company is adequately represented in the market, works stably, providing its user with maximum opportunities for profitable trading and quick exchange of cryptocurrencies.
Is LiveCoin Safe?
To increase the protection of your account, it is recommended to enable two-factor authentication, and with a balance of more than $ 100, switch from a basic security level to an advanced one and connect Google Authenticator.
There are 2 levels of account security available on Livecoin: basic and advanced.
Level 1: Basic. Installed by default; involves access to the exchange by login and password; making changes to settings with confirmation via mail; any payments require entering a PIN code.
Level 2: Advanced. At this level, the user is offered to protect the account by activating 2FA.
Additional security settings on Livecoin:
- Restrict access by IP-addresses;
- The duration of one session can be set from 30 minutes to two days;
- A unique welcome message when entering the site to detect a phishing copy of the exchange;
- Verification of identity to restore access without a ten-day lock;
- Self-locking account, which can be used if you suspect that an attacker has entered your account.
All this suggests that Livecoin cares about the security of its users and provides a wide range of settings to protect the internal information of the user.
Conclusion
In general, working with the LiveCoin exchange leaves a good impression - money is credited to the account quickly, a wide selection of cryptocurrencies is available for replenishment, there is nothing superfluous in the exchange functionality, which greatly simplifies the task for beginners. Experienced traders will rate the flexible commission, speed and smoothness of the site, without freezes and glitches.
The exchange also attracts users from all over the world, offering quality material on the official LiveCoin website and technical support in their native language, a large selection of assets, the ability to automatically trade and generate additional income using a referral program, and trade security. Today we will not evaluate the exchange as a scammer and scam, and we hope that the exchange will not give its users any reason to doubt its reliability.
Thank you Livecoin for finally being truthful,this is how an exchange should run not going away with investors funds, i'm really glad i could get hold of my funds again after several years.
I want to use this medium to tell those that still have their funds on livecoin.exchange not worry about anything, at first i was asked to reactivate my account by making a deposit transaction on it wish was a little bit scary for me at first,but nnow i'm glad i gave it a try and everything worked at fine for me.so if you have your funds in the exchange just follow the right process you will get back your funds.
Thank you
I'm glad i could withdraw money from livecoin new platform although i was not satisfied with the whole account reactivating process which is very doubtful and bad practice if i may say, but i'm glad i could withdraw my funds from the exchange
The criminals running Livecoin extort those who have a deposit. They also reached out to me via WhatsApp to ask me why my account is inactive. Their support agents demands that I deposit the equivalent of 10% of the balance in order to reactivate or withdraw the balance.
Act fast and reach out to their telegram group for refund.
search for livecoinrefund on telegram.
All the best.
Nice exchange
