Review on Livecoin by Praise Olagbadun
The Livecoin Exchange Platform Isn't Transparent Enough
I guess the number of exchanges we have today in the blockchain network are much and this has been able to breed the spirit if competition amongst them. This would require a trader to look into a company very well before getting into using their services. I would be reviewing another exchange platform that has been in the industry for a while now and it happens to go by the name Livecoin. I really wonder why they would have to name an exchange platform Livecoin and anything having coin should be a cryptocurrency. Well, I guess the reason is best known to them. Moving on, the Livecoin exchange platform is one that was established since in the year 2013 and to be sincere, I never heard of it's name until now (when I had to open an account with them and write this review). I guess they have been lagging behind in some factors and this has been the reason why it has not been able to gain enough fame not minding how long it has been in the industry.
I accessed them via the web mainly because they don't have a mobile application available yet and I was not well assured of using the exchange platform at the end of it all. The first thing I discovered was their interface. I actually loved it especially due to the fact that it's customizable and easy to understand. Their interface also looked fascinating and I was beginning to ask myself why I haven't heard of it all these while but ok exploring further, I was beginning to get the answers to my questions. It is an exchange platform that accepts both cryptocurrencies and fiats. Although it started with just Bitcoin and Litecoin, presently it accepts close to 150 cryptocurrencies and 3 fiats (that is Euros, USD and Rubles). I went further to check out their trading services and discovered that it was offered at an affordable fee of 0.18% for both makers and takers. Their fee looks nice actually as it is below the industry's average of 0.25%. They don't also charge for deposits and charge affordably for withdrawals made. As for security purpose, they store funds in a cold storage and uses the 2 Factor Authentication to protect users
I guess the reason they haven't gained much popularity (although they are popular a bit but should be more popular than they are on a normal basis) is because of their transparency. Presently, the exchange platform doesn't disclose any information about the location and founder of the exchange platform. That alone scared me from using their interface. I also find their support system slow and not really helpful. Let's just hope they work on these soon.
Pros
- They charge a flat fee of 0.18% which I find competitive
- The exchange platform stores users funds in a cold storage and makes use of the 2 Factor Authentication
- Their fees are affordable as they don't charge at all for deposits and very little for withdrawals
- Their interface comes in different languages
- They accept a wide range of cryptocurrencies
Cons
- The exchange platform is yet to have a mobile application available
- They are not transparent enough as they have their location and founders identity covered
- Their support system is very soon and I find it kind of useless
