Livecoin.net – Scam or Not?

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Livecoin is a Bitcoin and altcoin exchange platform that offers many currency pairs, including trading altcoins for FIAT currency.

The exchange was founded in 2013, by DELTA E-COMMERCE LTD from London, UK. Their servers are based in Metairie, Louisiana, US.

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The exchange doesn’t have a specified market they aim at the world map, but it seems they are focused on altcoin traders and offer many features for Russians.

There’s even a video for beginners in Russian.

Verification

The verification process isn’t explained on the website, but it’s mentioned on the Bitcointalk forum by the Livecoin personnel.

Apparently, the verification is only needed for the users who plan to use bank transfers for placing the deposit. The verification process is not presented publically, and all users who are looking to verify their account are directed to the contact page.

There are no trading limits tied to the verification.

The exchange supports the following FIAT currencies:

  • US dollar
  • EUR
  • Russian Ruble

When it comes to digital currencies, there’s a huge number of supported altcoins. The complete list of supported coins is available on the website.

LiveCoin Fee Schedule

Livecoin utilizes a maker/taker fee model with competitive fees for takers and bonuses for makers with a sliding scale depending on the monthly trade volume.

This means that every time user places an offer onto the exchange order book for other users to take up, it get paid a bonus instead of paying trading fees. This model encourages users to actually provide liquidity instead of taking liquidity from the order book by accepting the offers from other users.

The bonuses range from 0.01 percent to 0.1 percent on every trade users make, and past trading volume determines them.

When it comes to taker fees, the exchange has very competitive fee model.

For volumes below 2,000 US dollars – 0.20 percent fee of the amount traded applies.

As the monthly volume increases, the fees percentage drop. Finally, for volumes above 300,001 US dollars, the fee reaches the minimum of 0.01 percent of the amount traded.

Deposit and withdrawal fees

Livecoin deposits and withdrawals in cryptocurrencies are free of charge. When it comes to withdrawals in digital currencies, only minimal network fees apply.

FIAT currency deposits carry the following fees:

  • Payeer – 7.5 percent
  • PerfectMoney – 5.5 percent
  • OkPay – 1 percent
  • Wire Transfer (SWIFT) – 50 USD or 10 EUR
  • BTC-E vouchers – 2.5 percent in USD and RUR, 5 percent in EUR

FIAT currency withdrawal fees are a bit lower:

  • Payeer – 1 percent
  • PerfectMoney – 1 percent with a minimum of 1 US dollar
  • OkPay – 2.25 percent with a minimum of 0.1 US dollar
  • Wire Transfer (SWIFT) – 1.5 percent + 9 US dollars or just 15 EUR
  • Capitalist.net – Free of charge
  • Capitalist.net card – 0.99 US dollars or EUR

The complete fee schedule, as well as withdrawal and order limits, can be found here.

Livecoin.net Trading Analysis

Trading on Livecoin is easy, and the exchange offers some nice features. There are a few types of orders:

  • Standard market order
  • Limit order
  • Pending order

The first two are usual orders on the majority of exchanges, but the third one is where Livecoin shines. Pending orders are orders which are automatically triggered when the price hits a certain level specified by the trader. This can be very useful in markets where many competitors are trying to be on top of the order book or in cases where the user could influence the market by placing a large order. Pending order helps to avoid the disturbance of the market by hiding offers from the books which everyone can see.

Margin trading isn’t supported on this trading platform; neither are derivates or futures.

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One of the best things about this exchange is their altcoin and FIAT currency pairs. Having this option makes things a lot easier and makes calculating profit and loss less troublesome. It also removes a layer of unnecessary expenses because of paying two sets of fees instead of just one. That’s because on the majority of the trading platform users need to trade FIAT for Bitcoin and then Bitcoin for other coins. There are no FIAT/altcoin trading pairs. This feature makes Livecoin particularly attractive.

Ease of Use

The interface is nicely designed and relatively easy to use. Everything is just a click away, and switch between the markets is faster than on the other exchanges.

The company doesn’t have apps for Android and iOS yet, but the website is responsive, and it looks good on mobile devices.

It looks beautiful – it’s easy to use, and it’s load time is impressive.

Support

The support team from Livecoin.net is very professional and friendly. The types of support offered are 24/7 chat and email support. The exchange has a sort of remote FAQ page on Bitcointalk forum, which is quite extensive and a great place to ask any questions.

User Experience

There are not a single complaint about the exchange on the Web at the moment of the writing of this review.

Security

The website offers two-factor authentication and PIN code as well as SMS and email notifications. There is no information about the encryption of the emails or cold storage of the coins.

There were no hacking attacks so far, meaning that this is a safe place for Bitcoins as well as altcoins.

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Livecoin Review Conclusion

Livecoin is a great exchange with a huge support for altcoins and a very competitive fee schedule.

Pros

  • Support for numerous altcoins
  • Fast deposits and withdrawals
  • Competitive fees

Cons

  • Weak liquidity for some of the coins
  • No mobile apps

Livecoin is one of the rare exchanges that offer trading altcoins for FIAT currencies, which makes it a valuable market. Very reliable and affordable exchange.

 

Do you have good or bad experiences with this Bitcoin Exchange? Please share them!

Go to Livecoin.net
Write a Review about Livecoin.net:

16 User-Reviews for Livecoin.net
  1. Ed Adams, 26. May 2017

    It’s 7:26 EST 5/26/17 and the Livecoin exchange is down! I wonder what type of computer systems they use. Are they fault tolerant and linearly scalable? Will they hang up when cryptos really take off? I think it’s wise to use different exchanges and limit your exposure. There’s no need to take an exchange off line for maintenance if the proper investment is made in a reliable computer system. I know HPE NonStop systems are designed to never have issues like this.

  2. Artur, 13. June 2017

    SCAM
    Most buyers of other than top 10 coins are fake on livecoin. They appear for a second to score an automatic fake sale in 1 sec, always 2 cents less than the previous offer. Just check by yourself. For example most sales in func are fake, see the constant “8” on the end of the price:
    13.06.2017 12:24 buy 55 FUNC 0.00124898 ETH 0.0686939 ETH
    13.06.2017 12:20 buy 77 FUNC 0.00124898 ETH 0.09617146 ETH
    13.06.2017 12:19 buy 115 FUNC 0.00124898 ETH 0.1436327 ETH
    13.06.2017 12:10 buy 96 FUNC 0.00126998 ETH 0.12191808 ETH
    13.06.2017 12:03 buy 57 FUNC 0.00127178 ETH 0.07249146 ETH
    13.06.2017 12:01 buy 119 FUNC 0.00127298 ETH 0.15148462 ETH
    13.06.2017 11:59 buy 63 FUNC 0.00127318 ETH 0.08021034 ETH
    13.06.2017 11:58 buy 85 FUNC 0.00127318 ETH 0.1082203 ETH
    13.06.2017 11:55 buy 46 FUNC 0.00127397 ETH 0.05860262 ETH
    13.06.2017 11:49 buy 85 FUNC 0.00127496 ETH 0.1083716 ETH
    13.06.2017 11:45 buy 35 FUNC 0.00127496 ETH 0.0446236 ETH
    13.06.2017 11:37 buy 127 FUNC 0.00127498 ETH 0.16192246 ETH
    13.06.2017 11:28 buy 50 FUNC 0.00127594 ETH 0.063797 ETH
    13.06.2017 11:25 buy 101 FUNC 0.00127594 ETH 0.12886994 ETH
    13.06.2017 11:14 buy 62 FUNC 0.00127594 ETH 0.07910828 ETH
    13.06.2017 11:12 buy 62 FUNC 0.00127594 ETH 0.07910828 ETH

  3. George, 4. July 2017

    Great so far! 7/4/17. USA

  4. G., 4. July 2017

    Great so far! 7/4/17. Baton Rouge, USA.

  5. Scott, 10. July 2017

    I don’t no I sent funds from one exchange to livecoin yet it isnt sho
    wing up 4 days I talk to them they aren’t helping I will change my mind if this gets straightened out 1 out of 5 stars

  6. opdawut, 23. July 2017

    np sending my vsl to change to btc 72vsl bougth for 31ksats ;D deposit was easy and wd fast 100ksats withdraw fee for btc tho +1

  7. ROCKSTAR0983, 28. July 2017

    IT’s a scam. At 11:24 am on 28.07.2017 u can check on coinmarket cap and other exhange also that the price of REECOIN is 0.00001244 BTC and this value is fluctuating there but on live coin they are still showing that the value of REECOIN is 0.00000021 BTC or sometimes 0.00000022 BTC. They are forcing sellers to sell the REECOIN on low amount so that they can buy it later SELL it at higher prices or they are using consumers REECOIN to buy on lower prices and sell it at higher prices on other exhanges.

  8. nyanlynn, 1. August 2017

    its support is so bad.

  9. Raphael Vogt, 23. August 2017

    The Support is really bad! for the fees you take you could make it million times better!!!

  10. Raphael Vogt, 23. August 2017

    Im sorry for judging so fast but I really didn’t expectet that. They answered in a very short ammount of time, they were also very friendly and they could solve my problem. I think i need to apologize. Super thing until now. Go On!
    and sorry again.

  11. Antonio Ballesteros Cabezas, 25. August 2017

    Scam!!! Llevo varios días escribiéndoles para que me desbloqueen mi cuenta y nadie responde.
    No metáis el dinero allí!!

  12. Lukson, 28. August 2017

    I do not recommend the site. I paid about 500 $ and after a few days I wanted to pay Unfortunately, there were problems here: the page canceled my paycheck and changed the PIN code and then after reporting the problem blocked the payment. Now I wait 48 hours if after that time I still can not pay the police report.

  13. Jeff Kaplan, 1. September 2017

    Bitcointampa:
    I transferred on Aug 29th 2.00138600 ETH I verified the transfer code and have emailed the company 8 times now and no response. Livecoin is obviously a SCAM and when and if I ever get my money I will immediately transfer it do you really have to RIP your clients off thank god its not allot of money.

  14. Obieone, 2. September 2017

    They sell corrupt coins and when you complain they shut off act acess and just rob u fuck live coin they got me for over 250.00 just locked me out and trading prices are high they are total rip off do not use livecoin unless u dnt want to see you money again and when they lock u out you cannot contact them total scumbags how this site has 4 stars id give them 0 stars bunch of thieves

  15. Obieone, 2. September 2017

    Will sell you corrupt coins and then shut off your account when you complain they stole over two hundred dollars from me total scumbags don’t waist you time or money zero stars bunch of theives

  16. John, 8. October 2017

    I have been waiting for days for livecoin to release my BATA coins. I have contacted them various times without success. I am not sure what is going on. The wallet for this coin is working well and their customer are not replying to my tickets. Scam or legit, not sure yet!

8 Total Ratings with 3.90/5 possible Rating Points. Bitcoin Exchange