A Brief Guide to Liquid Exchange
Liquid is a crypto exchange that aims to offer solutions to the contemporary problems of traders/investors. The exchange creates a secure crypto environment where its users can not only enjoy a safe financial transaction but also remarkable blockchain technology.
Founded in 2014, the exchange offers brilliant crypto-fiat exchange services. Owned by Quoine, a Japan-based financial technology company, the Liquid exchange is ranked among the top ten regulated crypto platforms. Additionally, the exchange has a user-friendly interface resulting in great user satisfaction. In this Liquid exchange review, we will touch up on some of its features and functionalities.
Connecting your Liquid Address to ZenLedger For Your Crypto Tax Forms
As one of the most comprehensive cryptocurrency tax software options on the market, we have import instructions for well over 500+ exchanges.
Within ZenLedger, on the Import Transactions page and Exchanges tab, select the Exchange you want to import. Then you'll see a table that outlines the possible methods. We support a direct API code import for many centralized exchanges, while others may require a CSV import. Decentralized exchanges may require a wallet address.
To import your transactions from an exchange, simply navigate to the "Exchanges" tab of the "Imports" page. Select the exchange that you are looking to import, and instructions will be provided for that specific exchange!
Liquid Exchange Review
The Liquid exchange is perfect for crypto traders outside the US who use advanced tools and are accustomed to margin trading. Let’s look at some of the pros and cons of the exchange:
- Low trading fees
- For beginners and advanced traders
- Lending program to earn rewards
- High-Quality Educational Content
- Supports 100+ crypto tokens
- Excellent security
- Margin trading
- Not available in the US
- Costly withdrawal fees
- Missing out on top crypto tokens
Low Trading Fees
Liquid is one of the most affordable crypto exchanges. Its trading fees are based on the user's 30-day trading volume. The highest trading fee a user can pay is 0.30 percent, which is on par with top crypto exchanges. If you want to reduce the trading fee to the minimum, you can pay Liquid’s native coin, QASH, and get a 50 percent discount on the fees.
For Beginner and Advanced Traders
There are two ways to trade on the Liquid exchange. The first is to use a beginner-friendly trading tool with an easy-to-use UI. If you are looking for an advanced trading tool, you can use Spot Trading. This tool has an order book and includes more order options such as stop orders and limit orders.
Lending Program to Earn Rewards
One of the most notable features of this exchange is Liquid Earn. This feature lets you earn a reward for one more than a dozen crypto tokens. After you have the required amount of tokens in your liquid account, you can start earning rewards with Liquid Earn.
High-Quality Educational Content
If you want to learn about cryptocurrencies, Liquid blog is one the best places. The educational material is neatly organized for its users to find and covers an array of topics for them to learn. You can access Liquid Academy to read technology-related articles and find trading tips as well.
The Liquid exchange has robust security measures in place to keep its users’ funds safe. The exchange has integrated two-factor authentication (2FA) to access the accounts and make a withdrawal. Also, the exchange puts 98 percent of customer assets in cold storage, which means these assets are offline and almost impossible to steal.
Liquid offers margin trading with up to 25x leverage. Margin trading is very risky, especially when done in crypto. Experts don't’ recommend it, but it is available on the exchange for users who want to use it
Not Available in the US
US-based traders can’t use Liquid. While some international exchanges have their US partners create a platform just for the US, Liquid doesn’t have one. It is completely off-limits.
Costly Withdrawal Fees
One of the things that aren’t working for the Liquid exchange is the withdrawal fees. It charges around a 0.10 percent fee while withdrawing fiat money. And, if a user is withdrawing USD, they might have to pay a minimum of $15. For instance, if you are withdrawing $1000, you’ll have to pay $15. This means that you lose 1.5 percent in withdrawal fees.
Luckily, you can stick to crypto withdrawals, which have reasonable withdrawal fees. The majority of crypto exchanges allow you to withdraw fiat directly to a bank without any fees, but with Liquid, you have to pay with every withdrawal.
Missing Out on Top Crypto Tokens
Liquid supports more than 100 tokens but it is missing out on some top tokens in its lineup. Polygon (MATIC) and Cardano (ADA) are not in its roster of tokens and they are both popular tokens.
Liquid Exchange Review: Final Verdict
Liquid is an incredible crypto exchange with a lot going on in its favor. It caters to both newbies and advanced traders. However, it needs to revise its trading fees and pro assistance tools. It is a regulated exchange, has great security measures, and most importantly, it has corporate infrastructure allowing it to trade fairly. To conclude, Liquid is a great exchange for effective financial trading.