UPDATE 27 December 2020: Livecoin was hacked over the night of 23-24 Deceember 2020. The hackers presumably extorted Livecoin, as they have left the following message on the exchange's landing page:
As the platform is not currently open (and might not ever be following the hacker attack), we have marked it as dead in our database and moved it to our Exchange Graveyard. We will revive it if it opens up again.
To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.
Livecoin is a cryptocurrency exchange registered in the Seychelles. Out of all exchanges in our Cryptocurrency Exchange List, there are a few others registered there (e.g. BitMEX, BaseFEX, Remitano, DigiFinex, BitForex and Huobi). But, as you know, when it comes to cryptocurrency trading, the world is your playing field and the locality of the exchange doesn’t really matter that much.
As KYC and verification is not mandatory at this exchange, US-investors may trade here as well. At least the exchange will not prohibit them from trading. However, any US-investors interested in trading here should in any event form their own opinion on any issues arising from their citizenship or residency.
Livecoin proudly states that they are a modern and secure platform for accessing cryptocurrency exchange markets. They also pride themselves with having a “very simple interface”. Similar to many other exchanges, Livecoin has their own API supplied with an instructional manual. The exchange has a support service proficient in Russian, English and Chinese and they promise to reply to support tickets from customers of the exchange 7 days a week within working hours (UTC+3).
The team behind the exchange also states that they have an intuitive and simple interface for beginners, while at the same time also providing a lot of enhanced features for the more experienced cryptocurrency trader.
Livecoin Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at Livecoin:
Livecoin Trading fees
Here, they don’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. This means that takers and makers are both charged the same fee.
Livecoin’s flat fee is 0.18%. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.0.18% is slightly below the industry average. The industry average is arguably around 0.25%. The fee thus constitutes a competitive advantage against the majority of other top crypto exchanges in the market.
Finally, it should be noted here that many exchanges (including Livecoin) have trading fees that are reduced as volumes are increased, meaning that you are incentivized to trade in higher volumes. The fees listed in this review and in the comparison table are excluding any such volume discounts. But if you’re still interested in them, here they are:
Livecoin Withdrawal fees
Livecoin charges a withdrawal fee amounting to 0.0005 BTC when you withdraw BTC. This fee is below the industry average and also constitutes a competitive advantage against the majority of other top crypto exchanges in the market.
At Livecoin, you can deposit fiat currency via a number of payment systems, namely Payeer, PerfectMoney, Capitalist.net, AdvCash.com, Qiwi. Card deposits are not available, but you can withdraw fiat currency to your card if you have a VISA-card or Mastercard. You can also withdraw (but not deposit) to the payment services Yandex.money and Webmoney.
The following picture shows the fees involved with fiat currency deposits through each of the foregoing methods:
As fiat currency deposits are available through, Livecoin is an “entry-level exchange”, enabling investors to take their first steps into the cryptocurrency world.