LiveCoin Exchange: The Fast and Secure Trading Platform

LiveCoin Exchange: An Extensive Overview

LiveCoin Exchange has been a prominent player in the cryptocurrency market. This article sheds light on the different aspects of the exchange including its history, features, and the services it offers.

History of LiveCoin

LiveCoin started its operations in 2013. The exchange initially gained popularity among cryptocurrency enthusiasts and traders. However, it's essential to note that as of my last knowledge update in September 2021, LiveCoin faced a security breach in December 2020, which led to a significant loss of funds and a subsequent shutdown. Users should exercise caution and verify the current status of LiveCoin before proceeding with any transactions.

Features of LiveCoin Exchange

Before its shutdown, LiveCoin offered a variety of features that attracted traders. These included:

• User Interface: The exchange had an intuitive user interface which was friendly even to the beginners.
• Trading Pairs: LiveCoin provided an extensive list of cryptocurrency pairs for trading.
• Security: While the exchange did face a security breach, before this incident, it was known to implement standard security practices like two-factor authentication.
• Fees: LiveCoin had a competitive fee structure compared to other exchanges.

Trading on LiveCoin

Trading on LiveCoin was relatively straightforward. Users needed to create an account, complete the necessary KYC procedures, and then they were able to deposit funds and commence trading. The exchange offered both basic and advanced trading views to cater to traders of all experience levels.

LiveCoin Fees

LiveCoin employed a maker-taker fee model. Here’s a simplified structure:

The Downfall of LiveCoin

In late December 2020, LiveCoin announced that it suffered a security breach. The exchange lost control of some of its servers, and this led to a disruption in its services. Later, LiveCoin decided to shut down permanently.

"The incident served as a reminder that the cryptocurrency market is still young and that security should always be a top priority."

Conclusion

LiveCoin was once a popular exchange that catered to a wide range of traders. However, the security breach that took place in December 2020 was a turning point that led to its eventual shutdown. It is a cautionary tale for traders and emphasizes the importance of security in the cryptocurrency space.