Liqui cryptocurrency exchange is based in Kiev, Ukraine. They are not a big company, involving a small group of people trying to make a change in exchange platforms. Their liquidity in Ethereum is very good and they offer a lot of pairing with BTC. Launched in 2016 they operate out of Ukraine that can be an issue for them. Many exchanges are not licensed in the country they settle, so users are not focusing on this issue. The website is not a beauty but it is very functional. Recently, there has been a new law proposed in Ukraine that would bring the local cryptocurrency ecosystem under the oversight of the country’s central bank. There are many bad reviews of Liqui. Some of the common problems users of this exchange have experienced are delayed or blocked deposits or withdrawals, non-responsive customer support, slow and laggy platform, salty withdrawal fees. In fact, most of the users directly accuse Liqui of being a scam. There are over 150 digital assets available for trading on Liqui against Bitcoin, Ethereum and USDT.
It is very easy to register on Liqui website, on the main page there is Sign in/up option. After choosing the option to sign up, pop up box will appear where you just need to input your username, email, and password. After confirming your email you are ready to go. It is recommended to make a Gmail account because users had complained that withdrawal will be unavailable for other emails. Only digital currencies are available, meaning you are not able to connect your bank account, Skrill, PayPal or any other payment source. There can be some errors creating your account. Some reviews include bags in sign up box, not being able to register. It depends, is it a good or bad day for them, for you to be able to register.
You have no verification level required to start trading. Being a platform that offers only cryptocurrency trades, only thing users will need is a wallet to withdrawal or deposit from. Not required to verify your account is what is different that Liqui offers. Most of the users didn’t fall for that “easier way” to start trading. After reading reviews all over the internet of Liqui being a scam, users choose some other exchange platform. Of course, there is a maker-taker trading option where maker fee is 0.1%, and takers fee is 0.25%. These are relatively competitive commissions, however, many companies don’t charge market makers, and some even give rebates. Trading on leverage still is not enabled on Liqui same as for margin trading.
Make a deposit
Liqui is an exchange platform that doesn’t offer a fiat currency exchange. Regarding this, to make a deposit you won’t need any extra information about yourself. To make a digital currency deposit users have to create a crypto wallet on websites like Rippex, Jaxx, Electrum or others. On these wallets users can get their coins and transfer them to Liqui through an address code provided by Liqui. Liqui does not have any fee for deposits. This is very suspicious around the crypto community, including all of the benefits they say they are having.
There is not much information about deposit and withdrawal on Liqui. The organization is doing a bad job gaining users trust. Many complaints are regarded to withdrawal. Setting a no-fee withdrawal, they thought they will attract more users, but many of them are complaining how the withdrawal is taking too long, and when there is no evidence of transaction will going to happen, support does not care about replying to accusations. Also, hacking, and losing all of the withdrawal amount users wanted to make can be seen in the bad reviews Liqui gets constantly.
Every experienced cryptocurrency trader can notice that Liqui is trying to make their platform as appealing as it can be to suppress a badly made exchange platform. Liqui did a good job in the simplicity of the website that is a newbie friendly. Their trading fees are competitive even for the most popular exchanges out there. A wide variety of coins is a good thing but these options can be seen on every exchange website. No verification needed is a good thing, it makes trading easier but sometimes users have doubts.
Liqui reputation is the biggest disadvantage for them. Bad reviews, customer complains can be seen all over the internet. There isn’t much information about the company that affects the trust of users. Fiat currency exchange is always a benefit for exchange platforms, Liqui doesn’t offer such an option removing them from the top of exchange platforms. A bad support team is a big issue for Liqui, sometimes it takes 3 months to get a reply. They are doing a bad job with deposits and withdrawals.
When it comes to customer feedback, Liqui is doing a great job making their users angry. If there is a good review, it is from their employ or some affiliate worker. From accounts being hacked, missing deposits, withdrawal failure can be seen on many exchange platform review websites. Users also complain about their trading history is missing. This is important because there is no proof of them making a trade, where scammers usually want to make a move. Big accusations of Liqui team are behind some hacked accounts are putting them to the bottom of exchange platforms. A large number of users are giving a bad review for the support team that can’t figure a way out of this situation. You can see how much issues they have when replying to users can take up to 3 months.
Liqui is a platform with a great sense of what exchange platform needs to look like. They only offer crypto to crypto trading with many cryptocurrencies available. Liqui does not provide information about the transfer fees it applies. Having a savings account is a good idea but with such a bad reputation it won’t become a major platform. Bad reviews disvalue any of their ideas to make their platform different from others. There are many exchange platforms out there with a way better support leaving Liqui with a struggle to exist. Giving more information about their community and plans how they will manage problems they are having can benefit them if that doesn’t happen, Liqui will go down the drain.