Liquid experiences - The crypto exchange review
Liquid is a crypto exchange that consists of Quoinex, Qryptos and Liquid. All three websites have been merged, so traders now have more advantages.
The platform currently has a daily trading volume of a staggering €114,085,233.10 (15,087.03 BTC). There are 42 cryptos and 86 trading pairs to choose from.
We have tested the platform and made our Liquid experience. Here traders can find everything worth knowing about Liquid fees, offers and services.
What is the Liquid crypto exchange?
The three websites Quoinex, Qryptos and Liquid have merged into a single cryptocurrency exchange to offer traders more advantages.
In addition to the possibility of exchanging cryptos, the coins can now also be bought with fiat currencies. The investor thus no longer needs to be in possession of cryptocurrencies to enter into trading with digital currencies.
114,085,233.10 euros (15,087.03 BTC)
No contact options, just FAQs
SEPA, cryptos, credit cards
English, Chinese, Japanese only
Step-by-step guide to Liquid registration
The Quoinex, Qryptos and Liquid websites direct traders to Liquid's merged platform because there is no difference in what they offer. To get started trading on this cryptocurrency exchange, the following steps are required:
Step 1: Open an account
The first step is to register on the trading platform. You need to enter your first and last name, an email address and a secure password with eight characters, one upper and one lower case letter and a number.
Then you have to accept the terms and conditions and click on the verification link that is sent by email.
Step 2: Deposit cryptos
In order to become active on Liquid, the trader needs a crypto balance. Now, however, the investor can also pay with fiat currencies by credit card. There are 120 cryptos and ten fiat currencies available, including:
Step 3: Trading
Once the cryptos have been credited to the user account, the trader can start trading. Exchanging cryptos is a breeze; however, liquid transaction fees are due. There are also two different orders:
Order 1: Stop Order: With this variant, the investor can determine for himself how many losses he is willing to accept. The stop order is especially helpful for traders who do not have much time. Experienced traders can profit from price breaks and the momentum of a price. For this purpose, it is necessary to determine the minimum loss at the beginning, i.e. the minimum value of the financial instrument at which the cryptocurrency must absolutely be sold. If the coin experiences a price increase, the self-determined value remains the same, in contrast to the trailing stop order.
Order 2: Trailing stop order: This option keeps an eye on the market price. The trader sets a stop price that is lower than the market value. The lower limit determined by the user adjusts to a price increase and "moves" with it. If the price rises, the distance does not change. If the price is 5 USD below the market value, the trailing stop order is processed as an ordinary market order as soon as the price falls by more than 5 dollars.
In terms of trading settings, there are no differences between the stop order and the trailing stop order. The trader simply has to click on "Trailing Stop" on the right side of the screen.
The Liquid offer
Liquid is a classic cryptocurrency exchange where digital currencies can be exchanged. Nevertheless, fiat currencies are accepted for deposits. However, an additional fee is due. The 42 cryptos offered include:
According to the operators, it is planned to add more cryptos to the offer soon. However, it is not known exactly when this will happen.
How high are the Liquid fees?
Liquid charges a transaction fee of 0.1% and a liquidation trading fee of 0.2%. Investors must also reckon with fees for deposits with fiat currencies. These vary depending on the currency.
Third-party fees from credit institutions may also apply. However, there are no other deposit or holding fees with Liquid.
The lending interest for loan purchases is 50% of the loan amount. Here is an overview of the Liquid fees:
Fiat deposit fee
depending on the currency and credit institution
Fiat deposit fee
depending on the currency and credit institution
Fiat withdrawal fee
$ 5, €, AUD and SGD
Liquidation Trading Fee
50% of the loan amount
Fee comparison with other providers
The crypto exchange sees itself as an intermediary between seller and buyer. Here is an overview compared with the competition:
Liquidation handling fee
Liquid Payment Methods
Liquid PaymentsPayment methods accepted at Liquid include:
- Crypto transfers
- Credit card payments
- SEPA transfers
Skrill, Paypal, Sofort, Neteller etc. are not available. Fiat currencies are accepted for deposits, but only cryptos are credited to the account. It is therefore only possible to trade with cryptocurrencies at Liquid.
We will explain both deposit options in detail below:
Traders can pay for coins with fiat currencies via credit card or SEPA transfer. However, the waiting time is likely to be significantly longer than when paying by card.
Liquid's website is user-friendly, which is why the investor only has to follow the instructions. After that, the cryptos land on the user account within a few days. Some credit institutions may charge an additional fee for the transfer. This should be clarified in advance. It should also be noted that withdrawals in fiat currencies are expensive.
A new wallet address is created with every deposit. In addition, there is a separate API for all cryptos. However, transfers of Ether to an Ether address are permitted. It is very important to note that the coins are usually lost forever if mistakes are made when entering the address.
All other digital currencies use their own programme, which is why direct transfer is not possible; a new wallet address is created.
What are Liquid's customer service experiences?
Liquid ContactUnfortunately, Liquid cannot shine when it comes to customer support. Liquid does not offer contact via email or telephone. Only Live Chat and the FAQs are available, which are, however, very detailed and provide answers to practically every topic.
There are subpages with additional information for the questions. Newcomers can also use a guide where everything from registration to trading is explained and documented with screenshots. The fees are also listed transparently here or explained in an understandable way how the user can calculate them. Users have not complained about the lack of customer support in forums so far. Therefore, it can be assumed that the FAQ section is very helpful.
However, Liquid still has plenty of room for improvement in customer support. In the future, an e-mail address or telephone number may be provided, but nothing more specific is known so far.
If you are really stuck, you can also contact the Liquid community. It is likely that some other user has already had the same problem, so an answer can probably be found. Patience is needed, however. Other users do not always answer immediately.
Liquid Review: Advantages and disadvantages
With Liquid, there are also a few disadvantages in addition to some advantages. Here is an overview in key points:
Is there a Liquid App?
Liquid AppYes, there is a Liquid App. It is very clearly laid out and user-friendly. All users of Android and Apple systems can download it free of charge from the corresponding app stores.
Our conclusion on the Liquid test
There are no longer any differences between the Quoinex, Qryptos and Liquid programmes; all three websites have been merged. The Liquid community is now much larger. Therefore, users are likely to find help if they have questions.
This is an important point, as the customer service unfortunately only consists of a chat function. The fees are somewhat high and the website is unfortunately not available, making a good knowledge of English indispensable.
The platform is clearly laid out and user-friendly. Some instructions with tips are available, which make it easier for newcomers to start trading. Because every user can buy cryptos and then trade them, Liquid is suitable for both beginners and professionals.
All in all, Liquid is a good cryptocurrency exchange. However, Liquid does not offer anonymity; the platform requires a few personal details and verifies the email address. Security is given a high priority in return. For deposits and withdrawals, the trader must complete a 2-factor authentication. This is Liquid's way of ensuring that customer assets remain protected.
Liquid is a cryptocurrency exchange through which traders can trade cryptos.
Liquid convinced us with its wide range of offers. The platform is reputable; making profits is absolutely possible and funds are also paid out.
This platform processes withdrawal requests quickly. The processing time can take anywhere from a few minutes to two business days, depending on the withdrawal method.
The prerequisite is knowledge of the financial instrument in which one invests. Basically, it must be noted that cryptocurrencies are highly volatile and trading is therefore always risky. However, if you know how to trade, the luck of the brave is not far away! The prerequisite is knowledge of the financial instrument in which you invest. Basically, it must be noted that cryptocurrencies are highly volatile and trading is therefore always risky. However, if you are familiar with trading, the luck of the brave is not far away!