LiveCoin.net is a project that, inspired by the rapid transformation of cryptocurrency into a supernational currency of the future, launched a UNIVERSAL platform for exchanging and trading Bitcoin, Litecoin, Ethereum and other cryptocurrencies.
Honestly, I use this exchange for its intended purpose (for buying/selling cryptocurrency) less often than Exmo or YObit, but this does not mean that it is useless. Quite the opposite.
Since this exchange is not so popular and promoted, especially abroad, it comes up with all sorts of interesting things to lure and retain users - Livecoin provides visual and intuitive means for controlling the cryptocurrency market. But first things first.
General information about the exchange
The owner of Livecoin is Delta E-Commerce from England, and the portal is located in the USA. The domain was registered in 2014. The exchange officially launched in 2015 at livecoin.net.
The developers tried to maximally involve all users of the exchange and involve them in testing and finding bugs for a monetary reward. The program was called Private Preview, and each participant received one hundred dollars into their account, which can be withdrawn immediately or used within the exchange.
Immediately after the opening, only 9 cryptocurrencies were available. Over time, the exchange developed and grew, thanks to which it was eventually possible to offer more than 270 coins, and the Livecoin platform became one of the most popular portals on the RuNet where you can trade, exchange and work with cryptocurrency and fiat funds.
Hack and closure of the LiveCoin exchange
The LiveCoin exchange was hacked on the night of December 23-24, 2022 and ceased operations on December 25, 2022. After this, management transferred the official website of the exchange to the livecoin.news domain. This is the only source of information and news about the exchange.
How to compensate for funds lost as a result of a LiveCoin hack:
You must send an application to the address and go through the verification procedure. You can only submit an application from the same email address to which your LiveCoin account was registered. Applications will be collected until March 17, 2022.
The exchange officially ceased operations on December 25, 2022. After payment of compensation, the LiveCoin project will be closed.
Similar exchanges
Livecoin has analogues - other exchanges that differ in terms of trading, the number of available currency pairs and functionality. Below are examples of exchanges that are similar to Livecoin, but have their own differences.
Kraken
Kraken is one of the oldest cryptocurrency exchanges. Registered in San Francisco, USA in 2011. As of 2022, Kraken ranks first among all exchanges in terms of Euro trading volume. Available fiat currencies: CAD, EUR, GBP, JPY and USD. Available cryptocurrencies: BTC, ETH, BCH, LTC, DASH and others. The official website has a version in Russian. There are 3 levels of verification on the exchange: they differ in fiat support and limits. For the second level, documents confirming address and identity are required. At the maximum, financial statements must be provided.
CEX.IO
CEX.IO is a British cryptocurrency exchange that began its journey in 2013 as an exchanger and cloud mining service. As of 2022, CEX.IO is present in 99% of countries in the world. It works with four types of fiat: GBP, USD, EUR and RUB. Supported cryptocurrencies: BTC, ETH, BCH, LTC, DASH, XRP - 21 types of coins in total. There are 4 levels of verification on CEX.IO. For the first level, you must provide a passport or driver's license, and for the fourth level, you must provide information about your company. The official website has Russian language support.
Coinbase
Coinbase is an American stock broker launched in 2012 in San Francisco, USA. The company has several products. Coinbase provides assistance in converting fiat currency to cryptocurrency. And to trade on the exchange you need to use Coinbase PRO. Coinbase partners include more than 100 countries. Russia, Ukraine and Belarus are not included in this list, so their citizens cannot undergo verification. The platform offers 23 types of cryptocurrencies, including BTC, ETH, XRP, LTC. Coinbase supports dollar, euro and pound.
Crypto platform
LiveCoin uses its web terminal for trading and exchanging cryptocurrencies.
The terminal is still very crude and the functionality is implemented to a minimum.
The main task is to show the current market depth (demand/supply) and implement a quick order to buy or sell an asset.
Main advantages:
- High speed of order execution.
- Internal market depth by trading volume.
- Ability to trade directly or through limit orders.
- Ability to trade or exchange fiat.
The disadvantages include:
- Lack of graphic indicators and technical analysis figures.
- Very few timeframes.
- The trawl is missing.
Livecoin in numbers
A distinctive feature of the Livecoin exchange is a large selection of cryptocurrencies for trading. You can get acquainted with all currencies on the official website in the “Trade” section. The entire list of available currencies is located in the sidebar on the left, including the most popular: Ripple (XRP), Bitcoin (BTC), Litecoin (LTC), DASH (DASH), Ethereum (ETH) and others. Some coins are traded in different pairs, for example, Ripple is traded in 6 pairs, and DOGE is traded in fifty.
On the exchange you can make monetary transactions in euros, dollars and Russian rubles. At the moment, 367 coins can be used on the exchange, which ultimately form 918 pairs for trading. Approximately 60% of the volume of all trading falls on the Bitcoin/Dollar (BTC/USD) pair. The range of coins and pairs is constantly growing.
Daily trading volumes average 3000–5000 BTC. In terms of American dollars, the exchange does not exceed $100,000,000. The most popular pairs are:
- DASH/BTC;
- BTC/USD;
- LTC/BTC;
- XMR/BTC;
- ETH/BTC.
Important! The Top 10 often includes recently added tokens and coins with thoughtful marketing.
Features of buying Ethereum through Livecoin
Let's look at the process using the example of buying ether for American dollars. Other coins on the Livecoin cryptocurrency exchange are purchased according to the same scheme. We proceed in this order:
- We top up the account in American dollars.
- Select the ETH/USD currency pair on the left side. It is this pair that is needed, and not Ethereum with another digital currency.
- In the window with applications we will be interested in the “ETN Sales” table. Other users of the crypto exchange sell their ETH tokens and set their own rate.
- Now you just need to choose offers that satisfy you in terms of volume and rate.
- If you want to buy at a better price than existing sell orders, then simply create an order yourself.
Other tokens are also purchased using the same scheme, but their liquidity may be less. There may be no offers at all for less popular currencies, which is a disadvantage of Livecoin. The purchased cryptocurrency can either be stored in your account (if you earn through speculation) or withdrawn to your wallet.
Step-by-step guide to working on the LiveCoin exchange
To start trading on the exchange, you need to create a personal account. Unfortunately, there is no demo mode. The registration process is as simplified and intuitive as possible. After going to the main page of the official website, you must click on the “Open trading account” button.
All new accounts have a “Basic” security level, which includes the following options:
- A login and password are used to access the account.
- Every time a user changes settings, all actions must be confirmed via email address.
- During financial transactions, you must provide a PIN code every time.
The portal has the option of an additional level of security for enhanced asset protection. To do this, you need to go to “Account” and then click on “Security”, where you can activate the second level of protection using Google Authenticator.
Thanks to the second security level, the following additional options will be available:
- Add IP addresses to the list of allowed IP addresses.
- Set the session duration from 30 minutes to 48 hours.
- You can set a personalized greeting, thanks to which you can be sure that you are using the original site and not a phishing fake.
Separately, it is worth noting the presence of an affiliate program. Its essence is to increase the audience by inviting new users and receiving rewards for this. As soon as a new user registers, funds his account and starts trading, the person who invited him through his referral link receives a certain percentage of the exchange commission from each transaction.
Advantages and disadvantages
Advantages
- Nice interface, full Russian localization;
- A huge number of currency pairs, capable of satisfying the needs of even the most fastidious trader;
- Simplified verification procedure;
- Fast withdrawal of cryptocurrencies and no limits on its withdrawal;
- Availability of an affiliate program;
- Responsiveness of technical support, allowing you to quickly resolve any problematic issue.
Flaws
- Lack of tools for analyzing the price chart;
- Low liquidity of some cryptocurrencies;
- The main disadvantage of the Livecoin exchange is the lack of a legal framework. At the moment, there is no information about who owns the exchange and who regulates its activities. This theoretically means that at any moment it could close, taking with it the funds of its clients.
Registration in the system
Only a fully and correctly completed registration process allows you to become a full member of the exchange with the ability to use all its options. Registration takes just a few minutes. On the main page of the official website, you must click on “Open a trading account”. The user will be presented with a standard form in which the following fields must be filled in:
- Login.
- Create a password of 12 upper and lower case characters, with numbers.
- Repeat the created password.
- Provide your email address.
- Enter your referral code.
Attention! Some users note that not all types of mailboxes are suitable for registration. If the response letter has not arrived even in the Spam folder, then you need to change your mail provider.
So, as soon as all the fields have been filled in, you must agree to the terms of the user agreement, carefully double-check all the specified data and go to your mailbox. As soon as the response letter arrives, you need to follow the active link to activate your new account. The account is now ready to use.
After logging into the account for the first time, the user is taken to his personal account and the system asks to set a special PIN code, which will subsequently be used to confirm all operations.
Attention! It is very important to save not only the account password, but also the PIN code. If the latter is lost, the user will be able to restore it only for money. The cost is 0.01 BTC.
Service security
In the review, it is necessary to mention security, as this is an important component of working on a cryptocurrency exchange. The safety of money and personal data has become especially important due to the increasing number of cases of hacker attacks and bankruptcies.
The cryptocurrency market is often subject to illegal activities. Therefore, Livecoin management has implemented a number of protective measures.
- Creating a list of acceptable IPs.
- Authentication (two-factor) via Google application.
- Create a personal greeting (not to end up on a fraudulent site).
- Setting the duration of the trading session.
- Entering a PIN code for various operations, for example, withdrawing money.
- Log records (exchange visit history).
The Livecoin crypto exchange offers 2 levels of information protection: basic and advanced.
Additional security information
The Livecoin exchange has taken a number of measures to ensure the complete security of user accounts and accounts.
- User encryption (user anonymity).
- User verification (transactions of large amounts, bank transfers).
- Notifications via SMS and Email (linking your personal account to your phone number and mailbox).
- Two-day blocking of funds.
- Creation of a strong password and the ability to change it.
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.
Trader reviews
Due to the quality of services provided and the high level of security, Livecoin clients leave mostly positive reviews.
But there are also reviews in which users complain about long transfer times or missing funds, lack of responses to tickets and malfunctions of the site.
Basic exchange commissions
To withdraw cryptocurrency from an exchange account to a personal wallet, you must indicate the wallet number and the amount of funds being transferred. Different commissions are charged for different cryptocurrencies:
- DASH – 0.002.
- BTC – 0.001.
- XMR – 0.03.
- ETH – 0.01.
- LTC – 0.02.
As for entry-level trading fees, it is 0.18% of the trade. The higher the monthly turnover, the lower the interest rate will be. Turnover is indicated in dollars :
- from 2,000,000 – 0.02%;
- 1 500 001–2 000 000 – 0,04 %;
- 1 000 001–1 500 000 – 0,06 %;
- 800 001–1 000 000 – 0,08 %;
- 600 001–800 000 – 0,1 %;
- 400 001–600 000 – 0,12 %;
- 200 001–400 000 – 0,14 %;
- 100 001–200 000 – 0,16 %;
- 0–100 000 – 18 %.
More detailed information about commissions is provided in a separate section “Tariffs and Limits”.
Livecoin Internal Sweepstakes
In addition to making money on trading, the platform invites users to test their ability to predict the direction of market movement and place a bet accordingly. This option is available in the “Game” section.
Everything is simple in this section. It is enough to select the bet size and decide on the direction of movement of the Bitcoin quote - “higher” or “lower”, and then confirm your decision with the “place a bet” button.
The minimum lot in the game is 0.001 BTC. The administration takes 10% of the total prize fund, which is subsequently divided among users who made the correct prediction.
Refill
To deposit funds, you must go to the “Balance” section. There are two types of accounts on the exchange:
- Cryptocurrency – along with all the popular ones, there are an additional 150 cryptocurrencies.
- Fiat – euros, dollars and rubles.
You can transfer money to any of the fiat accounts using electronic payment systems:
| Payment system | Commission per euro, | for rubles, | for dollars |
| Qiwi | 15% | 9% | 15% |
| Advcash | 10% | 10% | 10% |
| Payeer | 3% | 5% | 3% |
| Perfect Money | 2% | — | 2% |
| Capitalist | 0% | 0% | 0% |
Before you start replenishing your cryptocurrency wallet, you need to be sure that the wallet is considered active and is working towards receiving funds. To do this, you just need to hover your mouse over the “Top up” button. To make a transfer, the portal will independently generate a new address and provide information regarding enrollment conditions. To replenish a Bitcoin wallet, you need 3 confirmations, a little more for Ethereum, etc. Among other things, it is very important to make a small test transaction.
Algorithm of actions when replenishing:
- Go to your balance and select the required wallet (for example, ruble), and click on “Replenishment”.
- In the window that opens, select a convenient payment option: Qiwi, Payeer, AdvCash, Capitalist.
- Specify the payment amount and click “Pay”.
- The portal will redirect the user to payment, after which you just need to follow the instructions.
This algorithm is suitable for all fiat currencies. For cryptocurrencies, you just need to click “Top up” and create the necessary wallet for a specific digital currency. Now to make a transfer, you just need to copy the address/wallet number.
Replenishment can be done in another way - using a voucher for a certain amount. It can be used by every registered user of the exchange. You can purchase a voucher, for example, from LocalBitcoins or Changelly.
How to trade on the Livecoin exchange
Once the account has been replenished, you can start trading. To get to the trader window, just click on the “Trade” section of the same name. The section has all the necessary tools for trading.
On the top panel, the user must select the currency pair in which trading actions will be carried out. Next, information will be provided in the form of a moving graph with price movements. Due to the fact that everything is described and indicated in as much detail as possible, the user is able to assess the situation as best as possible and make the right decision.
Just below there are 2 windows that control the purchase and sale of currency by placing an order. There are several order options:
- Postponed . It is considered fulfilled only if certain conditions are met. For example, a specific sales price is indicated. As soon as the assets reach these indicators, then the order is considered executed and the transaction is completed.
- Limit . The trader specifies a specific purchase price that is below the current market value or above the market value to sell. As soon as the price crosses the specified indicator, then the transaction will be considered concluded.
There is another, no less interesting and profitable, method of earning money - gambling on changes in the value of cryptocurrency. There is a separate “Game” section where a trader can independently choose whether the price of the specified cryptocurrency will rise or fall next week. If the forecast turns out to be accurate, then the trader will receive the specified payout.
How to withdraw money from Livecoin
In addition to replenishing the account, every registered user should be concerned about the issue of withdrawal. The withdrawal commission varies and ranges from 1–8.5%, depending on the type of currency and the platform that is selected. When withdrawing cryptocurrency, a certain amount will be withheld, and not a percentage of the amount.
To withdraw cryptocurrency or fiat funds, the user must take a few simple steps:
- Go to the "Balance" section.
- In the list of cryptocurrencies and fiat funds that appears, you must select the appropriate option.
- Click on “Output”.
- You can fill out a special form for direct withdrawal or issue a virtual voucher.
- Select the appropriate payment system option, indicate the recipient's details, and fill in all the data. At this moment the commission will be calculated automatically.
- Click “Send Payment”.
To withdraw cryptocurrency, you need to click on the withdrawal button next to the appropriate digital asset. For example, to withdraw Dash, you only need to fill in a few lines.
Beginning of work
To start trading, you need to consider the sections of the site. The Livecoin exchange has a simple and user-friendly interface and is easy to understand even for a beginner. In the header of the site there is a main tab - “Trade”. Purchase and sale transactions are carried out in this section.
Select a currency pair, amount and order (limit orders are executed by default). If you need to buy or sell on the market, you need to click on the appropriate item.
This section contains the history of completed transactions, withdrawals and deposits, an overview of supply and demand.
Account section
The “Balance” tab contains information about the trader’s account. Here you can withdraw money and top up your account. You can use the service as a wallet for storing cryptocurrency
. To find out the address of a coin, you need to click on the corresponding replenishment line.
Withdrawing money is done by clicking the “withdraw” button. A list of payment systems for fiat withdrawals or a form for the crypto currency address will appear.
A useful tab in the “Balance” section is exchange offices. The Livecoin exchange makes it possible to exchange any funds through proven partner services.
Additional options
The Livecoin exchange on its main page in the “Market Review” tab contains all the information about the supply and demand of all traded pairs. This section is useful for experienced traders.
The “Partnership” section was created for users who plan to invite referrals to Livecoin and receive additional profit.
The “Deposit and withdrawal” tab contains information about the amount of commissions for cryptocurrencies and fiat. The “Where to start” section is useful for beginners; it contains a training video, information about replenishing your account and getting started on the Livecoin platform.
Referral program
The portal offers all registered users the opportunity to participate in a referral program, which gives them a chance to earn extra money. For these purposes, you need to invite new users to the exchange using your referral link. They need to register at the address provided and enter the referral code during this process.
There are 3 tariff plans with completely different percentage rewards:
- 10% on an ongoing basis.
- 20% for 6 months after registration.
- 50% within a month after registration.
Once the period is over, the user no longer receives payments for the referral. If the referral's turnover is $95,000, and the user has chosen the 50% rate, then the commission on transactions will be approximately $152, of which the user will receive 76 cents in his account.
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.
Advantages of the trading platform
The advantages of the service are enough to trust your funds and trade without fear. Positive reviews about the Livecoin cryptocurrency exchange indicate the following advantages of the resource:
- increased level of security;
- fast replenishment and withdrawal of fiat funds;
- simple and comfortable interface;
- no significant restrictions on the amount of funds replenished;
- several types of communication with technical support;
- convenient functionality;
- reliable data protection system and resource stability;
- saving money in LiveCoin Code exchange currency without exchanges or rate changes;
- availability of proven exchange services;
- the presence of a progressive referral program.
