Livecoin.net Review 2019 – 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
Share your Experiences about Livecoin.net:

63 User-Reviews for Livecoin.net
  1. Oleksandr, 26. August 2019

    I can’t withdraw my XMR from livecoin. However, they still allow to trade it with the price 15 times cheaper than average market price. Does anybody know something about this?

  2. Danueb, 17. July 2019

    Used livecoin for about 3 years now without any problems. Deposits take a little bit longer than other exchanges but other than that, no issues. Don’t understand all these negative reviews everywhere.

  3. james bull, 25. June 2019

    Livevoin susspended my bitcoin wallet, and claimed bitcoin was hacked and stole 2BTC. THousands of simmilar reviews total russian scamers.

  4. Mac, 20. June 2019

    Livecoin.net is definitely up to some shady business. They have locked withdraws and deposits for several coins while continuing to trade them, they are claiming the wallet will be locked until “Devs” pay for their losses. This is very unprofessional and clearly shows their opinion of their customers fund/needs.

  5. Auss, 6. June 2019

    This is my first encounter of an exchange that is a scam. I lost $20000 dollars with this exchange. They disabled the withdraw of MONACOIN and they are manipulating the price. It is 90% less price compare to other exchange. I talked to them and they told me that they will not resume this if the developers of monacoin will not give them compensation. I have a screenshot. This exchange is greedy

  6. James, 20. April 2019

    Does anybody know how to withdraw Monero from Livecoin? They have disabled the withdrawal for months and months. It’s like they’re stealing my coin. Anyone know anything that can be done? How to get in touch with Monero developers?

  7. Anna, 19. April 2019

    Hello! Now released a new token!
    More information here!
    https://bit.ly/2vbB6na

  8. Moatasim, 22. December 2018

    Livecoin is a scam they suddenly close your account and take your money , i have evidances that this is a scam .

  9. Joze Urbancic, 14. November 2018

    I received this answer from Livecoin, and I do not know how to proceed.
    My English is not the best. Im asking for help

    Your withdrawals have been disabled for exceeding faulty attempts limit for GOOGLE CODE. Contact support via chat to unlock withdrawals.
    Respectfully, Support Service LiveCoin.

  10. Doug, 14. October 2018

    They are very unprofessional and unhelpful. They just recently (oct 2018) lost all 2FA and settings. This caused everyone on the site not to be able to withdraw any coins for at least a week.

    Avoid them at all cost. Who knows what is going on with livecoin.

  11. Alex, 11. September 2018

    Stay away from Livecoin.net!

    They have blocked my account without reason, can’t withdraw my balance and are not answering tickets raised requesting why.
    Posted on their Facebook page, now they deleted my comments and disabled posting there altogether.
    I’ve sent them emails querying why my account is blocked and all they say is to raise a ticket within their system that they are not answering!

    Very arrogant tone within their messages that I had in the beginning.

    From the above I have all proof/screenshots.

    So in conclusion, be VERY CAREFUL when using this exchange.

  12. user, 20. August 2018

    Absolute scam, check any well known forum regarding this “exchange”. They keep taking people’s crypto and not returning it. They ban you after you request your crypto back.

  13. Joseph T, 26. May 2018

    Great! Haven’t encountered any problem buying, depositing or withdrawing cryptocurrency from livecoin.net!