RESEARCH & ANALYSIS
FOR THE CRYPTO ECONOMY.

Livecoin

Livecoin Exchange Review

Centralized

Livecoin Overview

  • Livecoin was launched in 2013 and claims to be the number one cryptocurrency exchange out there. The location of the exchange’s headquarters and offices are unknown, as there are mentions of London, Seychelles, and Belize online. Their website, however, does not provide an address for the platform. The exchange offers trading in around 150 cryptocurrencies, which is an impressive number. The exchange does not focus on a certain region in the world, but rather is looking for a variety of different, global user profiles.

    The exchange charges a flat trading fee of 0.18%, meaning it charges takers and makers with the same fee. 0.18% is significantly lower than the global industry average of 0.25%, which provides the exchange with a competitive edge. Their withdrawal fee is 0.0005 BTC, which is slightly below the industry average. Considering both the low trading fee and the withdrawal fee, the exchange offers quite competitive and appealing features.

    Fiat-crypto trading is available on Livecoin alongside crypto-to-crypto trading. This makes the exchange an entry-level exchange and is hence appealing for new cryptocurrency investors who are looking to be introduced into the cryptocurrency trading world without a hassle. Users can deposit fiat currencies to their accounts via certain payment systems, such as Payeer, PerfectMoney, AdvCash, etc. Credit cards are not accepted as a valid form of payment on the platform, except those that are Visa or Mastercard. The list of different fiat currencies that can be deposited is quite extensive. There are certain deposit fees that the payment systems charge individually. Information on such fees can be found on the platform’s website.

    Livecoin’s website is quite simple yet user-friendly. The interface is multi-lingual, as it offers an impressive list of nine different languages. There are video-based instructions on the home page concerning the utilities of the exchange, which is helpful for those who are just starting out. There isn’t, however, a mobile app. This might deter certain users who are looking for more practicality.

    For enhanced security, Livecoin makes use of cold storage system to protect users’ wallets. Two-factor authentication (2FA) system is also utilized, as is commonly done by many other cryptocurrency exchanges. Though Livecoin offers appealing and competitive features, it lacks significantly in transparency. Information about the exchange’s whereabouts is not clearly given online, which could be a red flag for some users. Information about the team behind the exchange is also not available. When users click on “Contact Us” on their website, they are advised to contact the exchange via customer support. Users have reported on online platforms that customer support is slow and not helpful. It is also reported that payment services do not operate in a satisfying level of speed, which has caused many users to complain and suspect fraudulent activity.

    Livecoin Exchange Review, Trading Fees, Deposit and Markets

    • 24h Trading Volume

      1976.595 BTC

      • Livecoin Total Trading Pairs

        301

        • Livecoin Margin Trading

          No

          • Livecoin Deposit fees

            List of deposit fees can be found here: https://www.livecoin.net/en/deposits-withdrawals

            • Livecoin Fiat Deposit

              Yes

              • Accepted Payment Method

                None

                • Livecoin Native token

                  No

                  • Native token smart contract

                    N/A

                    • Livecoin Trading Markets
                      • Livecoin Stablecoins trading

                        Livecoin Withdrawals

                        • Daily Withdrawal Limit

                          /

                          • Livecoin Withdraw fees

                            BTC – 0.0005 BTC

                            LTC – 0.02 LTC

                            ETH – 0.01 ETH

                            Full list of fees can be found here

                            • Livecoin Withdraw fees discount

                              Lower trading fees for higher 30 day USD trading volumes.

                              Full information can be found here

                              • Proof of Reserves

                                N/A

                                Livecoin Exchange Rating Analysis

                                Last edit 17.07.2019

                                • The Livecoin situation is a hard one for us. On the one hand, the exchange offers a very large amount of coins to trade, alongside fiat support, many markets and high volume in the larger pairs; on the other hand, many pairs have zero volume going through them and ever since the exchange’s humble beginnings in 2015 it has been reported to not reply to support requests from users with locked funds, essentially stealing them, not allowing withdrawals for various reasons and charging insanely high withdrawal fees.
                                  While claiming to be registered in the UK, after some digging, we found their actual company to be registered in Belize, and the only mention online about their claimed CEO is a rather weird article on a seemingly affiliated “blockchain news site” – and we believe the person Ivona Zlatova is not a real one, and is placeholding for the actual people who run the exchange behind the scenes.
                                  In conclusion, we do score Livecoin relatively high for an exchange with so much shady metrics going for it only because it has been operating for 4 years without any major occurrences, and it does manage to attract significant volume, but we still believe the risk factor here is too high for users to entrust their funds with this exchange.

                                  Livecoin IEO launchpad

                                  Stage Start date End date Fundraising
                                  Tremiss

                                  Tremiss

                                  May 16, 2019 - May 29, 2019 $5M

                                  Livecoin Exchange Additional Information

                                    • Livecoin Headquater

                                      Belize

                                      • Livecoin Establish date

                                        2015