Why Liquid Exchange is worth a try
Why Liquid Exchange is worth a try

By hsotaka | Liquid and Qash | 5 Nov 2019


*I updated my 2 month old review, i hope you enjoy reading* :)

Why Liquid Exchange is worth a try

I used Coinbase, Bitfinex and Kraken before, so i have experience with a few exchanges.  

I'm using Liquid exchange since its launch in September 2018. The company which runs Liquid is called Quoine, they run secure exchanges since 2014. In September 2018, Quoine's exchanges "Qryptos" and "Quoinex" got merged to Liquid.    

 

Regulation and Security:

The most important argument for using Liquid is their focus on regulation and security. They are regulated by the JFSA, the Japan Financial Service Agency. Liquid is using multi signature cold wallets for user funds and they have a very complex internal policy to ensure the security of the exchange (https://www.liquid.com/security/) I could be wrong, but i do not know any other exchange which publishes their security policy in such a detailed way.   Lets talk about the trading interface, deposits, withdrawals and other possibilities that Liquid offers to their members.  

 

Trading Interface and Possibilities:

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At the launch of Liquid, there were a lot of small bugs and the trading interface wasn't really intuitive. Now, 9 months later, Liquid exchange is my favorite exchange. The trading interface contains everything i need and its fully customizable. This means you can create your own workspace and put the trading elements (trade feed, chart, order book, view of open orders, etc.) whereever you want. You can resize the elements however you want. Users are able to select between different themes like dark mode, light mode, etc.   You have all features in one platform. Spot trading, Margin trading, CFD trading and the Quick Exchange which allows to convert Crypto/Crypto and even Fiat/Crypto without the need to deal with markets and order books.   Fees for trading are very low, if you pay fees with QASH (Liquids native token), fees are 0,05% (https://www.liquid.com/fee/).

Trading Interface Dark Mode:

351665157-a203f87c0546396ee9eae889a7a5234be28d74c89a5f321876d346c1cbe446e9.png

Trading Interface Blue Mode:

351665157-03ecf3b20ea21ce375d9a97c8251d50baa78cd73deee59fb8226db7797fed1b8.png

Trading Interface Light Mode:

351665157-5d18f8c9d8c32431de91ab604014f27b2a63f49c63b15ba7c61142b95899836a.png

 

Quick Exchange:

351665157-162466a3ad5c41be4d43285700c8d3db79ba09ea0e0831e37ee6678038ec2f47.png

 

 

Other features:

On Liquid you can't just trade. Liquid was one of the first exchanges which implemented an IEO market. You can participate in IEOs and pay with BTC, ETH, QASH and even Fiat.   Liquid also has a Lending platform. You can lend your funds to margin traders and earn daily interest. YOU can set the interest. 

 

Liquid Pro (Mobile):

351665157-59abb548db3f921807dc3f4f3102b0555c37ef73263bf482ad7720e63121a6ea.png

They also have a iOS and Android app for professional trading. The app is looking great and its a nice addition to manage my trades when I'm not at home. You can spot, margin and cfd trade via app, always with a nice overview of your trades, even on small mobile displays. For an active margin trader, its indispensable to have the possibility to manage your trades on the go.    

 

Deposits:

Its my favorite fiat gateway now, because of easy deposits. Especially EUR deposits are very fast, cheap and easy. You can deposit EUR via SEPA or Credit Card. No other exchange is supporting more fiat currencies (USD, EUR, SGD, HKD, AUD, CNY, INR, JPY, PHP, IDR) Crypto desposits are very fast too. Liquid implemented a technology which allow to accept Bitcoin deposits with zero confirmations, so the deposits of BTC are super fast! There are no fees for fiat and crypto deposits.    

 

Withdrawals:

Liquid implemented the MPC technology, so fast withdrawals for most coins are possible now, without affecting the security standard of Liquid
(Completely multi signature cold wallet policy for user and company funds). 

 

API:

351665157-275437fb3400104ba349cffd549ba26faeafc84752e11ead338c5c1bba2fe365.png

Liquid recently launched Liquid Tap, a new proprietary WebSocket service, offering the lowest possible latency and jitter for streaming real-time data.

With Liquid Tap, we aim to boost your trading performance:

  • Timely delivery of market data during volatility.
  • Lowest latency and jitter to enable trading with certainty.
  • High availability provides the level of resiliency traders demand.

 

 

Customer Support:

I made good experience with customer support, every time i needed support, they responded fast and friendly. There is a huge library of help and explanation articles https://www.help.liquid.com. You can also reach their live support there. Liquid doesn't offer support in their social channels like telegram.      

 

Technology of Liquid:

Liquid developed a technology called "World Book". Internal World Book is live already, it matches prices of different markets and combines them in one order book. An example: If you want to buy BTC with USD, you are able to see all orders of BTC/JPY. Most of the BTC volume on liquid is traded against Yen, but because of the world book you have the same volume and liquidity on the other BTC/FIAT pairs. They will release their second part of world book soon: "External WB". External World Book will combine order books of different exchanges.
They announced that they will start with LTC pairs and already confirmed Gemini as an official partner, so i'll take this as an example: As soon as Ex WB goes live, LTC order book of the LTC pairs on Liquid and Gemini will be combined.  

 

Other current developments of Liquid are:
- DLT for their native token "Qash", the "Liquid Distributed Ledger". It will be a DLT which will allow fintech companies to setup their digital project on a DLT with existing frameworks and SDKs.  

- External World Book as mentioned above.  

- A huge trading statistic interface, called "Liquid Vision":

351665157-776b10c7eee62dd86856eb7d9d219cd002a5ad2a52b911e1ace2d4b41a5026b5.png

 

- Other big goals like Prime Brokerage Platform, Liquid USA (US regulation in January 2020) and Full Banking License in Japan. (https://www.liquid.com/roadmap/)    

 

Of course, there are still some cons, but Quoine is working hard to fix these things (for example they are working on a technology to improve withdrawal times, without affecting the security of user funds).  

 

Summary of pro's

Exchange, fully regulated by the JFSA.

Quoine (company behind Liquid) runs exchanges since 2014, never got hacked.

Real multi signature cold storage policy for user funds.

Nice looking, fully customizable trading interface.

Margin and CFD trading with up to x100 leverage.

Nice app for Android and IOS with margin trading.

Internal World Book technology, which matches orders of different trading pairs (for example orders of BTC/USD and BTC/JPY).

Good volume on major trading pairs (btc, eth, xrp, bch)

Biggest fiat exchange with lot of fiat pairs (USD, EUR, SGD, HKD, AUD, CNY, INR, JPY, PHP, IDR)

Quick exchange for fast currency conversion without using complex trading UIs.

U.S. expansion in January 2020.

LDL (Liquid Distributed Ledger) for Liquids native token "QASH" soon.

Lending platform, lend your assets for a daily interest.

IEO market on Liquid.

Good support (runs on intercom).

100% real volume, no wash trading because of regulation and mechanisms on Liquid..

 

Summary of con's

Low volume on trading pairs of smaller coins.

Roadmap which lists upcoming features, but without release dates.

Native token "Qash" needs more utility.

Good support, nice devs, but a lack of marketing.

 

 

Thank you for reading me review :)

If you liked my review and decided to sign up on Liquid, i would be so thankful if you use my ref link :) https://www.liquid.com?affiliate=Rqror1Gv576954 


hsotaka
hsotaka

Crypto enthusiast and investor since 2016.


Liquid and Qash
Liquid and Qash

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