The Liquid is a cryptocurrency exchange founded in January 2014 and is regulated and approved by the Japanese Financial Supervisory Authority (FSA). It has over 800,000 clients and is supported in over a hundred countries. In this article, we will be doing a Liquid exchange review while explaining the various features of Liquid and the advantages and disadvantages of this exchange.
| Mobile App | Fees | Pros |
| iOS & Android | No deposit fee. | Liquid Infinity feature. |
| Security | The withdrawal fee varies depending on the cryptocurrency. | Quick Exchange |
| 2 Factor Authentication | No Maker fee. Charges 0.3% taker fee. | Cons |
| SSL/ TLS encryption | High trading fee. The platform was recently hacked. |
Table of Contents
Detailed Summary
- Liquid is a cryptocurrency exchange launched in January 2014 that provides both fiat and crypto-based trading pairs.
- Supports more than 100 cryptocurrencies and 80 tokens.
- Available in more than 100 countries.
- Moreover, it does not charge any deposit fee on crypto.
- It has an innovative feature called Liquid Earn as method for its users to earn steady passive income.
- Further, it allows trade in the form of margin trading, spot trading and Liquid Infinity.
- Liquid infinity is a tool that enables contract for difference (CFD) trading to its users.
- It also allows crypto lending and fiat where the lender can set their own interest rates to earn additional profit.
- In addition, this platform is one of the first crypto exchanges to allow FIO deposit addresses.
- It has an excellent referral program where the user can earn up to 30% of their referees trading costs.
- The mobile application- Liquid Pro, is available on both android and iOS devices.
- It has a strong security system with 2FA protocol mandatory for every Liquid account to start trading or deposit funds.
- Moreover, its Quick Exchange feature is very user friendly as it allows instant trading without the complication of the traditional crypto trading method.
- Liquid has a 24×7 customer support system that readily answers the user’s queries.
What is Liquid?
The liquid is a cryptocurrency exchange that accepts fiat currencies. It provides both fiat and crypto-based trading pairs. Furthermore, it also accepts deposits and purchases in a variety of fiat currencies as well as all supported crypto assets.
Further, It was formed in 2014 as a result of a merger of two exchanges owned by Quoine – Quoinex and Qryptos.
Moreover, it allows margin trading, spot trading and contracts for difference (CFD) trading. This exchange platform supports more than 100 cryptocurrencies and 80 tokens.
Liquid Exchange Review: Products
Earn
Liquid Earn is a tool to earn incentives on your Liquid crypto balance. Bitcoin, Ethereum, Ripple, Litecoin, Bitcoin Cash, Chainlink, Stellar, Synthetix Network Token, Uniswap, Celsius Network, Dash, Tether, and USD Coin are eligible for payouts.
After signing in, select your preferred cryptocurrency and click “Earn.” As soon as the countdown ends, you will begin collecting benefits, which will be compounded every second.
Quick Exchange
Quick Exchange is a Liquid feature that allows for the easy exchange of digital assets and fiat cash. The maximum trading limit is 40,000 USDe, with a minimum limit of 0.05 USDe.
Further, it helps new users to trade without having to navigate to advanced trading dashboards. The liquid executes a Quick Exchange order immediately.
Moreover, with Quick Exchange, Liquid allows you to trade any fiat to any crypto and any crypto to any crypto. However, it does not allow for fiat-to-fiat trade.
FIO Address
FIO addresses enhance the usability and efficiency of crypto wallets, exchanges, and payment processors. They also assist users in avoiding typical blunders when transferring and receiving bitcoins. First, sign in and then click on deposits to establish your FIO address. Then select “create an FIO address.”
Liquid Lending
The crypto lending feature allows users to lend their crypto to earn daily interest on margin traders’ loans. Users will earn interest as long as the transactions remain active. When the transactions to which the funds are linked are closed, the funds are refunded to the lender. The “Interest Payment Fee” is 50% of the interest earned, which Liquid collects from the lender anytime interest is credited.
Margin Trading
Margin trading is the practice of utilizing borrowed cash from a broker to trade a financial asset that serves as collateral for the broker’s loan. Crypto-to-crypto trading pairs are not accessible. Furthermore, Liquid’s margin trading offers up to 25 times leverage.
Spot Trading
Liquid offers spot trading where you receive immediate delivery of assets once your order is successfully executed. Thereafter, you can stake, trade, lend, or withdraw the assets into a hardware wallet.
Further, Liquid supports four advanced order types including, limit, market, stop and trailing stop.
Liquid Infinity
It is a feature on Liquid that allows you to trade Bitcoin CFDs with up to 100x leverage. Liquid Infinity supports two trading pairs: BTC/USD and BTC/JPY. It has a professional trading interface that is suited for experienced traders.
Moreover, you can select from Cross Margin or Isolated Margin. Also, Liquid Infinity is available to all Liquid users outside of Japan.
Referral Program
Copy your referral link from the Liquid referral dashboard. You may then share this link with your friends and your larger network of traders and investors. With this, you can get 30% of your referees’ trading costs whenever they pay trading fees on Liquid. Once every 24 hours, referral money will be deposited to your Liquid account.
These payments will be credited in the currency in which your referee paid the fee. Moreover, it is an excellent technique to get passive income.
Liquid Exchange Review: Mobile App
This platform has an app called Liquid Pro available on both android and iOS devices. It is easily accessible with a user-friendly interface mechanism along with all its web features present on the app.
How to Use Liquid?
- To get started on Liquid, open the official Liquid website and click on Get Started.
- Enter your country, name, email address and password to create an account.
- A confirmation email will be sent to you. Click on the link and it will redirect you to the login page.
Verification Process
- To verify your account, click on “Verify your identity” tab on the Liquid dashboard.
- Next you nee to upload your selfie.
- Further, select your nationality in the dropdown, and upload your government issued ID. Click on the Submit button.
- Next, you need to upload your proof of address and answer a survey.
- Download and install a 2FA application of your choice.
- Sign in to your Liquid account and go to the Security settings screen.
- Click the option Secure your account to enable 2FA on your account.
Depositing on Liquid
- To deposits click “Deposit” on the top right of your dashboard.
- Select the crypto you wish to deposit.
- Also, after depositing, you can trade using Liquid Infinity, Spot Trading or Margin Trading.
Liquid Exchange Review: Fees
Trading fees on Liquid depends on a user’s trading volume over the previous 30 days. For instance, a user with a trading volume of less than $10,000 has to pay 0.15% as a taker fee and 0% for the maker fee. Moreover, by paying in QASH, all traders can enjoy a 50% trading fee reduction.
It does not charge a fee for crypto deposits. The withdrawal costs vary based on the cryptocurrency, but crypto withdrawals across Liquid wallets are free. To learn more click here.
Is Liquid Exchange Safe?
Yes, Liquid exchange is safe to use. The platform uses SSL/TLS encryption on the website to offer an extra degree of security and data integrity. On a daily basis, they scan their website for vulnerabilities. To use the platform, all Liquid users must enable 2-factor authentication.
Furthermore, after a password reset, the user will be unable to alter their email address for at least three days. No withdrawals are permitted during a cooling period, which lasts three days after an account setting is updated. This is a precautionary measure to prevent hackers from taking money.
However, the platform suffered a recent hack and lost over $97 million in August 2021. To learn more, watch the video below:
Customer Support
Liquid has an excellent customer care system where the user can get their questions answered in a detailed and simple manner through the support option. In addition to this, if you have any more queries, you can email [email protected].
Liquid Exchange Review: Pros and Cons
| Pros | Cons |
|---|---|
| No deposit fees. | Does not allow trading for US Residents. |
| Quick Exchange feature. | Relatively high trading fee. |
| Has an innovative Liquid Infinity Program. | Liquid Infinity is not available in Japan. |
| Strong security system. | |
| Very good referral program. |
Liquid Exchange Review: Conclusion
The liquid is an excellent platform with many innovative and exciting features like its Liquid Infinity initiative and the referral program. Its availability in more than 100 countries is an added bonus to its accessibility.
Moreover, Liquid is also among the first crypto exchange platforms to enable FIO addresses.
Furthermore, its variation in forms of trading that are appropriately suited to both beginners and experienced traders makes Liquid very user-friendly and inclusive. However, its margin trading platform is recommended only to experienced traders because it is a very volatile sphere. Lastly, it has a strong security system which makes this exchange platform an overall success.
Frequently Asked Questions
Can you withdraw money from Liquid?
Yes, Liquid let users withdraw money both in the form of fiat currency and cryptocurrencies. However, you can withdraw only after your verification.
Is Liquid Infinity supported everywhere?
It is supported in all the Liquid listed countries except Japan.
