Livecoin – overview of the exchange’s capabilities and user reviews

Update .
Livecoin ceased operations after the exchange was hacked at the end of 2022. All current information on receiving refunds is available on the website: https://livecoin.news

The Livecoin cryptocurrency exchange is a Russian-language project that allows you to carry out trading operations with a large number of tokens (more than 300 cryptocurrencies, including many little-known ones), and directly exchange them for fiat funds. The exchange also attracts attention with its wide functionality and relatively low commissions.

What else makes the exchange stand out and does it have any significant disadvantages? Read our review.

Main characteristics

Registration process on the Livecoin exchange

Registering on the exchange is very easy even for a beginner. To do this you need:

1. On the main page, click on one of the buttons shown in the screenshot:

2. When you click on “Open account” or “Open trading account”, a page opens for entering personal data.

3. If you are accessing the site after registration, select “Login”. Under the login form there is a button to recover a lost password, 2FA code, and also for registration (if you are on the exchange for the first time).

To register, you must fill out the following fields:

• Login (we come up with it ourselves).
• Password (come up with a complex one, 12 or more characters).
• Email (must be working, as a confirmation code will be sent).
• Referral code (if any, optional).
• Captcha.

We also check the boxes confirming your agreement with the terms of the user agreement and your age (18 years or older). Next, you need to enter the code that came to your email.

Ready? We go to the site using the previously created login/password pair and create a payment PIN code (the system prompts you upon first login).

Important! Don't forget to save your account password and payment PIN.

Suspicious case with Veros FP 3 days before the hack

According to representatives of the project, Veros FP, for three years, Livecoin, using its own trading bots, placed orders for the sale of native tokens of the VRS project, which in fact were not on the balance sheet of the exchange. By creating an artificial price dump, the platform then bought tokens from users.

Livecoin also took VPS tokens from wallets that were incorrectly specified by users during withdrawal. Veros FP estimates the total damage from Livecoin's actions at more than $800,000.

On December 21, Veros FP sent a complaint to the Livecoin administration, but in response their account was banned, after which the Veros administration notified news sites about possible imminent troubles with Livecoin.

Replenishment and withdrawal of funds

The LivCoin cryptocurrency exchange is one of the few that allows you to work with fiat money: rubles, dollars, euros.

In addition to it, the following platforms work with fiat:

• CREX24;
• EXMO;
• Yobit.

Limits:

• The minimum order amount is 0.0001 BTC or equivalent.
• The minimum deposit depends on the payment system or cryptocurrency that is transferred to the exchange account. For example, with Qiwi you can enter an amount that is no less than 4,000 rubles. Other payment systems (Payeer, PerfectMoney, Capitalist, AdvCash) allow you to top up your balance from $50, 1000 rubles. or 50€.
• The minimum withdrawal depends on the currency. It is equal to 100 RUB (except for Visa/Mastercard, where the minimum is 500 rubles), 10 USD or 10 EUR.

To top up your balance and start trading on the Livecoin exchange you need to:

1. On the main page, find and click on the “Top up” tab.

2. Select a currency or cryptocurrency and click the “Deposit” button to the right of it.

3. Choose a convenient deposit method depending on the selected fiat currency.

4. If you need to top up your cryptocurrency account, you will see something like this:

5. Here you should click on the “show address” button and agree with all the points listed below.

6. A code will appear in the address field, which can be copied by clicking on the button of the same name or using the QR code in the upper right corner.

The withdrawal procedure is similar, but instead of “Deposit”, click “Withdraw”. For quick sorting, there is a function to hide the zero balance.

In the window that opens, select the amount of cryptocurrency to be transferred, enter the wallet address and send the payment.

After the required number of confirmations, tokens will be credited to the specified cryptocurrency wallet.

Reviews place in the ranking

Among the numerous reviews, the main advantages can be identified:

• Availability of 9 interface translation languages.
• Support service in Russian.
• Theoretical basis for work for beginners.
• There are no minimum amounts when withdrawing cryptocurrency to your wallet.
• The number of tools is sufficient for a full analysis.
• Possibility of using payment systems for depositing and withdrawing funds.
• Top up your account in a few minutes.

Among the negative aspects, users of this portal note the low level of liquidity of some cryptocurrencies.

Deposit and withdrawal fees

You can top up your account in cryptocurrency completely free of charge, and for fiat top-ups there are commissions that range from 0 to 7%.

For withdrawal you will have to pay 0.5% or more.

You can view the commissions you are interested in in the “Account” tab, “Tariffs and Limits” category.

Trading commissions

Trading fees are based on trading volume over a 30-day period. At the same time, its minimum is 0.02%, and its maximum is 0.18% (the larger the volume, the lower the commission percentage).

List of tradable tokens

There are 316 cryptocurrencies traded on the Livecoin exchange, which make up 780 trading pairs. The most active trading is in the following pairs:

A game

The administration offers traders who are tired of serious calculations to have a little fun. In the “Game” section, participants place bets on the value of Bitcoin in dollars every week.

At the moment the game starts, the starting price of the BTC/USD pair is fixed. Bids are accepted for five days. Then two days pass to eliminate the manipulation of individual players to obtain winnings, and the final price is fixed.

If the final price is higher than the starting price, then bets placed on the “Higher” position win. If the final price is lower than the starting price, then bets placed on the “Below” position will win.

How to trade on the stock exchange

To start trading on the exchange, you can watch the training video, the link to which is in the upper right corner, next to the login button.

The video lasts 6 minutes, during which time the following questions are covered:

• working with charts;
• work with orders;
• deposit/withdrawal of funds;
• transactions with vouchers;
• referral program;
• safety;
• API.

But professionals (like most beginners) can start trading without first watching the video, since the platform’s interface is intuitive, and the main trading functions are standard, as on most cryptocurrency exchanges.

Interface, menu, features

As already mentioned, LiveCoin is famous for its simple and intuitive interface.

When we go to the “Trade” tab, where trading will take place, we see:

1. Price chart of the selected cryptocurrency pair.
2. Sidebar on the left for selecting a trading pair.
3. Fields for buying/selling.
4. Exchange glass.
5. History of personal and general transactions.

The chart can be changed at your discretion: select a different time period, switch to displaying market depth, or hide it completely.

Placing orders

To make your first deal to buy or sell cryptocurrency, you must:

1. Select a trading pair (to the left of the chart).
2. Decide on the type of order*: market or limit. Market order – this is the purchase or sale of cryptocurrency at the price that is relevant at the moment (market price). In this case, the order will be executed instantly. Limit order assumes that the trader will set the price himself and the transaction will be executed when it becomes relevant.

3. Enter the desired transaction amount, price (limit order) and click the “Buy” or “Sell” button.

*Read more about the types of orders in our articles:

• What is a market order on an exchange?
• The concept of a limit order using the example of a cryptocurrency exchange.

Trading is also possible using special programs (trading bots) via the API.

Account verification

It’s worth noting right away that account verification is not required for all traders. This procedure is necessary if the exchange user will work with large amounts or make deposits/withdrawals using bank transfers. To undergo verification, you must contact the support service operator. Our employees work as quickly as possible, so you can contact us during business hours from 10:00 to 17:00 Moscow time.

To replenish your account with dollars, euros or rubles, there is no need to undergo verification, but there is a lightweight variation that can ultimately help if you lose your login data and restore your account. To pass verification, you just need to send your photo, where next to the user’s face there will be a piece of paper with the inscription Livecoin and the date.

Such a file is sent to the exchange operators, and if access is lost, you can always quickly restore your account without blocking funds for 10 days, as established by the rules.

Important: It is necessary to upload photos without processing with a clear image and a resolution of more than 1920 by 1080.

Exchange services

The LiveCoin platform stands out from other cryptocurrency exchanges due to its wide functionality not available on other resources. For example, the ability to issue and use vouchers.

A Livecoin voucher is a special code that allows you to anonymously and freely transfer funds to any user within the platform. When creating it, you can specify the user login or hash. Then only one person can use it.

To receive a code for replenishing your account on the Livecoin exchange, you can buy it at partner electronic currency exchange offices.

Another interesting feature: automated trading via API .

Also worth attention is the “Game” , where anyone can make a forecast regarding the rise or fall of the price of the Bitcoin cryptocurrency. If the prediction is confirmed, the participant receives a certain amount, which depends on the number of players and their bets, the prize fund, and the percentage of losers.

For those who store altcoins on the exchange, there is an incentive program - Profitbox . A number of tokens participate in it:

The longer one or more tokens from the list are in your internal wallet, the greater the reward. At the same time, they are not frozen on the account and can be traded.

the program for providing liquidity to the market maker is in testing mode (available for some users).

Let’s also mention the quick listing of new but promising tokens, as well as the holding of an IEO (pre-sale through an exchange).

Additional features

Quote chart

The Livecoin exchange offers traders an additional tool - a quote chart, which allows them to analyze the state of the market and predict the direction of price movement.

Additional tool: quote chart
// Livecoin.net
The chart is designed in the form of “Japanese candlesticks” and allows you to set the time period of trading:

• 15 minutes;
• 30 minutes;
• 60 minutes;
• 4 hours;
• 24 hours.

In addition, some SMA indicators can be superimposed on it, with the help of which they provide additional information and help to even better predict the future “fate” of the price of a certain cryptocurrency.

A game

Bitcoin Forecast Game The
highlight of the Livecoin exchange is the Higher-Lower game, in which users must predict what the price of Bitcoin will be at the end of the week. There is a similar game on YoBit. Bids can be placed from Monday midnight to Friday midnight, after which bidders will see the final price on Sunday. A minimum of four people must participate in the game.

The prize fund consists of bets made by losing users and is divided among winning participants in proportion to the bets placed, with the exception of 10%, which is charged by the exchange as a commission. If the price of Bitcoin remains at the same level, then the game is considered invalid and the participants receive their money back.

The minimum bet is 0.001 BTC and the maximum is 0.1 BTC.

Safety

The platform developers paid great attention to security. In addition to two-factor protection using the Google Authenticator application, you can configure:

• session length (from 30 minutes to 48 hours);
• financial code;
• IP check at every login;
• allowed login addresses (IP whitelist).

The system also offers to save and use, in case of emergency, a security code to block your account. To find it, go to the “Account” section, “Security” subsection.

Referral program

The LiveCoin exchange has a well-thought-out referral program.

To start earning money by referring friends and acquaintances, follow the instructions:

1. Go to the "Account" section.
2. In the proposed list, select “Referral program” and click on it.

3. Decide on the tariff and save.

4. Copy the link or code by clicking the “Copy” button next to the desired line.
5. Share the code or link with your friends and earn from 10 to 50% of the amount of the referral's transactions.

In the “Referral Program” section you can also see the number of referrals and detailed statistics.