but severely flawed
Usually, new users looking to get into crypto trading are directed towards the biggest and most popular exchanges because they tend to be the standard to look for in terms of support, quality and features. Occasionally however, you’ll see other, less known exchanges being mentioned that offer similar, if not the same features as its bigger competitors.
However, things are not as simple as they seem to be, because otherwise, this exchange would be far more popular than it actually is, so stick with us through this short review to find out more about Livecoin. Let’s get started.
What does it offer?
Despite the somewhat concerning lack of transparency and information available about Livecoin, one thing that we can’t possibly deny is the fact that the exchange delivers an impressive amount of features that make it easily comparable to some of the big exchanges.
Here are some of Livecoin’s main selling points:
- Highly secure: All funds are kept in cold storage.
- Supports over 85 altcoins.
- Supports an impressive selection of trading pairs.
- A customizable graphical interface that is friendly to new users while also offering a certain level of depth for experienced traders.
What does the community think of it?
This is where things get rocky. If you found this review it’s very likely that you’ve already seen some of the things people have to say about Livecoin. Let’s just say that overall community reception towards the exchange is mixed, and occasionally leaning towards really negative.
This has to do with the fact that even though Livecoin is a pretty decent and user friendly exchange, it still has some very severe flaws that users are not very fond of. However, we must stress that Livecoin is most definitely not a scam. The complaints or negative reviews surrounding the exchange usually come from actually fair criticism, such as the fact that the company lacks a certain layer of transparency that users are accustomed to have at this point. Couple that with the fact that the exchange occasionally has a lot of issues when it comes to depositing, trading and withdrawing certain kinds of coins.
Despite that, not all reviews are negative, and a lot of the complaints you find are actually balanced out by the other side of the user base that hasn’t had a single bad experience with the exchange, and praise its ease of use alongside its sheer number of coins and trading pairs it has available.
Trading fees are fairly standard for an exchange, as they’re based on trading volume starting at 0.18%.
As for deposit and withdrawals fees, it can vary depending on the payment method the user chooses. So, if you’re interested in taking a look at these fees, check this out for a comprehensive breakdown.
Pros & Cons
- Easy to use thanks to its user friendly GUI.
- Supports an impressive amount of altcoins and trading pairs.
- Highly secure thanks to their cold storage feature.
- Not a single hacking incident ever since it was released.
- Supports multiple languages.
- Supports Fiat currencies (EUR, USD and RUR).
- The lack of transparency by the owners of the exchange can be concerning.
2. Issues with deposits and withdrawals are something the exchange is aware of, yet does nothing to alleviate the situation.
3. Customer support could see a lot of improvements.
To sum it up
Livecoin has everything it needs to succeed and thrive in a market, and it’s actually not a bad exchange. It has all the features you need coupled with a modern interface that is ideal for beginners. However, it is also far from flawless, and the flaws it does have can be quite concerning for any cryptocurrency user that has been around for a while.
Livecoin is a cryptocurrency exchange that initially started out rather simple. At the time of its release, the exchange only supported Bitcoin and Litecoin, but throughout the years it focused on refining its level of security, support, and features to be up to the high standards that the competition has put in place.
Not much is known about the people behind the company. Only that it’s based in Russia and is highly popular over there due to its support for the Russian ruble.