Liqui Review 2019
Liqui is a unique cryptocurrency exchange that not only provides trading services for various cryptocurrency assets but also features a savings account where traders can earn passive income. Users can earn 24% APR (Annual Percent Rate) or 0.066% per day. This is an outstanding return for simply holding your cryptocurrencies in Liqui’s savings account. The Liqui exchange was founded in 2016 and is based out of Kiev, Ukraine.
Liqui is not a regulated cryptocurrency exchange, but this is not a big deal as most cryptocurrency exchanges are unregulated as the entire space is new and uncharted territory for regulators. Liqui accepts traders from all over the world with no limitations and the website and trading platform is supported in multiple languages.
Though the Liqui exchange is relatively new and unregulated, the exchange has already built up a good reputation and has a relatively high trading volume. However, how can you be sure Liqui can be trusted or if it’s the right exchange for you? Well, in the following review we delve deep into the aspects that make up this cryptocurrency exchange and see what sets Liqui apart from the competition and whether or not they can be trusted.
As with most cryptocurrency exchanges, Liqui has their very own proprietary web-based trading platform. The layout and interface are very user-friendly with its simple design and utilization of key exchange features. Traders will find the chart at the top of the screen with the underlying asset and market details such as price and volume to the left. Traders can analyze the chart in depth with the use of various tools and technical analysis indicators. Below the chart, is a well-designed order book and markets list as well as open orders and trade history. The way everything is designed and laid out is very nice and comprehensible even for beginner traders. After reviewing the exchange platform, we can confidently say this is one of the better cryptocurrency exchange platforms out there.
Liqui provides traders with a wide variety of cryptocurrency assets available to trade against Bitcoin (BTC), Ethereum (ETH), and Tether (USDT). Unfortunately, Liqui does not support any fiat currency markets as they are strictly a cryptocurrency exchange for crypto to crypto trading. Though Liqui does not support fiat currencies, they make up for it with the sheer number of alternative cryptocurrencies available, totaling over 190 cryptos. As well, Liqui is constantly adding new cryptocurrencies to their exchange.
Liqui charges two different type of fees for trading cryptocurrencies. Traders who buy/sell from the first available bid/ask price incur a fee of 0.25% per trade and are referred to as takers. The other trading fee is known as the maker fee which is when a trader provides liquidity to the platform by placing their own bid/ask prices, this fee is only 0.10% per trade. These fees are competitive in the industry and are really quite reasonable. Unfortunately, Liqui does not provide any information on deposit and withdrawal fees. However, we can safely assume they do not charge any fees for deposits but charge some fees for withdrawals.
Security and Fairness
Liqui appears to be a safe and secure cryptocurrency exchange. They implement numerous security measures to protect and secure their platform. In fact, the exchange held a hacker event through hackerone.com in an effort to find bugs in the security of their platform. Some additional security measures the user can take is to enable two-factor authentication methods such as SMS messaging, email verification, and Google-Two-Factor-Authentication. In regard to fairness, all users are treated equally and are not required to submit any identity information, all users can remain anonymous.
An area that Liqui seems to be lacking quality in, is their level of customer support. Support representatives can only be reached through email and twitter and often take a long time to respond. These support methods are available 24/7, but response times can take many days sometimes. Also, the exchange does not have a support section on their website where traders can find helpful or useful information, there is not even a simple FAQ page.
Pros and Cons
- Extremely easy to use and navigate
- No verification needed
- Traders can benefit from passive income utilizing the exchanges savings account
- A wide variety of cryptocurrency assets
- Slow customer service and limited options
- No fiat currencies supported
- Not regulated & has a mixed reputation
- Very limited information on the company
Here are some of the most common questions that are asked about Liqui crypto trading service.
Is Liqui regulated?
No. Liqui is not a regulated cryptocurrency exchange.
Where is Liqui based?
Liqui is based out of Kiev, Ukraine.
How does Liqui make money?
Liqui charges market maker and taker fees for each trade transaction. As well, we assume they charge withdrawal fees, although this is not clear.
How do I deposit in Liqui account?
Liqui only accepts cryptocurrency deposits.
How do I withdraw money from Liqui?
You can withdraw from Liqui through sending your cryptocurrency to your personal wallet address.
Can I trade on Liqui with my mobile device?
Yes, you can use your mobile device to trade on Liqui through their downloadable mobile application.
Is Liqui reliable?
Liqui has proven to be a reliable and trusted exchange that has yet to be hacked, however some users have some mixed opinions about Liqui and believe they are a scam.
Is Liqui a scam?
We don’t think so. However, users must remain cautious when proceeding with the Liqui exchange because there are many mixed opinions about the exchange. Also, they are not regulated.
The Liqui exchange peeks our interest for a variety of reasons, mainly due to their lucrative savings account feature where traders can earn passive income. Also, the exchange offers a very wide variety of cryptocurrencies to trade. However, the exchange does not support any fiat currency pairs, and the customer support is strongly lacking in options and reliability. But, the exchange platform is very nice and great for both beginner and advanced traders. So, the Liqui exchange is not perfect and they have some areas they need to improve upon. However, if you can look past these areas where the exchange is lacking, Liqui might be a good cryptocurrency exchange for you.
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