Get the weekly summary of crypto market analysis, news, and forecasts! This Week’s Summary The crypto market ends the week at a total market capitalization of $2,17 trillion. Bitcoin continues to trade at around $62,300. Ethereum experiences no changes and stagnates at around $2,400. XRP is down by 2%, Solana by 1%, and Dogecoin by 3%. Almost all altcoins are trading in the red, with very few exceptions. The DeFi sector decreased the total value of protocols (TVL) to around…
The Liquid Exchange – An Easy to Follow Guide for New Users
Liquid is a regulated multi-cryptocurrency exchange. The platform is a comprehensive and secure trading toolset for beginners and pros. The exchange gained popularity due to its top-notch UX and streamlined trading experience. Users can trade, store, send, and receive cryptocurrencies using Liquid. The platform also supports fiat deposits, leveraged trading, and credit card purchases.
Features of the Liquid Exchange
The Liquid exchange is a unified, globally-sourced trading platform that integrates a simplistic and easy-to-use interface. Both the website and Mobile app are highly responsive and require no prior trading experience to navigate basic features. More advanced features are also available for professional traders.
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Streamlined Onboarding
Liquid’s developers went to great lengths to streamline the onboarding process. The entire sign-up, security walkthrough, KYC process, and support mechanisms require no experience to complete.
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Cryptocurrency Selection
This exchange offers an impressive selection of cryptocurrencies to trade. The exchange supports 132+ cryptocurrencies at this time. Wisely, the platform adds to this base periodically to provide more usability to its users.
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Customer Support
Customer service is another strong point for this platform. The network features a responsive 24/7 email and online chat. New users can leverage this feature to make the most out of their trading activities and better understand how to trade cryptocurrencies safely.
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Security
Security is a top priority for Liquid’s development team. For example, the platform requires a mandatory 2FA feature for all users. Additionally, you can only withdraw to whitelisted addresses. These precautions help keep your crypto out of the wrong hands.
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Learn
Another unique feature of Liquid is its Academy. Users can gain valuable information regarding blockchain technologies and cryptocurrencies. This free knowledge base updates frequently. You can remain on the cutting edge of the market when you spend some time in this section.
How Does The Liquid Exchange Work?
Liquid allows you to trade your cryptocurrencies with major fiat pairings in a centralized manner. This custodial exchange utilizes multiple layers of security to keep your digital assets secure. Here’s how Liquid functions.
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Fiat Onramp
Liquid users enjoy access to a fiat onramp. Here, you can buy cryptocurrency with either US dollars or other digital currencies. There are seven fiat currencies supported in addition to the dollar. Specifically, AUD, EUR, JPY, USD, SGD, PHP, HKD are all options available to users.
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Credit Card
You can purchase cryptocurrencies directly using a Visa credit card. The platform supports a nice selection of credit card direct buying pairs. Credit card support is a major draw for investors because it provides more liquidity. When you combine credit card options with leveraged trading, expert investors can multiply their ROIs.
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Fees
Liquid has no deposit fees for users. The platform features a sliding fee rate that varies depending on the crypto and the amount you trade. Fees range from 0.00-0.30%. There is also a taker fee that ranges from 0.06-0.30% depending on your trade details.
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Withdrawal
The Liquid exchange utilizes a proprietary withdrawal procedure to keep its funds secure. The network manually processes withdrawals once a day. This strategy allows the team to keep all funds safely stored in cold storage. While this approach is securer than the alternatives, it does cause some withdrawal delays.
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Advanced Options
Liquid offers many advanced trading features that make it attractive to professional traders. As such, the platform provides margin and leverages trading to users. Traders can leverage their efforts from 2X – 25X using this protocol. There is no funding fee for this service.
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Futures Trading
The platform also offers futures trading and algo trading functionalities. Futures are financial derivative contracts that obligate the parties to transact an asset at a predetermined future date and price. In this way, advanced traders can bet on the future value of Bitcoin. You can bet against Bitcoin using both JPY and USD.
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Perpetual Contracts
Notably, you can also trade perpetual futures on this platform. A perpetual contract is a select type of futures contract. Unlike the traditional form of futures, it doesn’t have an expiry date. Trading of perpetual contracts is based on an underlying Index Price.
Listing Your Token on Liquid Exchange
New projects can submit their tokens on Liquid Exchange. These projects undergo an intensive review period before acceptance. Getting listed on Liquid provides more liquidity for any project.
History of the Liquid Exchange
Liquid entered the market in Q3 2018. This Japan-based exchange is fully licensed and regulated. Today, Liquid has offices in New York, NY, and Atlanta, GA. Notably, Liquid came about after a merger between the Quoinex and Qryptos Exchanges. These exchanges had been in operation since as early as 2014.
How to Use the Liquid Exchange
To utilize Liquid, you will need to complete the registration. As a regulated exchange, you will need to submit to the KYC process, which involves uploading a national ID, a selfie, and proof of your current address. The process takes a few days to complete. Once your account validates, you are ready to load it. Unfortunately, US residents are now restricted from the exchange and all of its services.
Wisely, Liquid allows users to load accounts using a nice variety of options. You can use your Debit card, credit card, or bank transfer (SEPA). Developers even included Swapforex as an option. Once your account is loaded, you will want to select between spot, margin, and leveraged trading options.
From there, you can easily see the trading pairs available for each coin. Select the coin you want to trade and the amount. The trade completes quickly, and the traded coin will load directly into your wallet when completed.
Liquid Exchange – A Reliable Option for Advanced Traders
Liquid provides professional traders with a reliable option in the market. The Platform’s ancestors date back to the early years of the crypto market. This experience and the platform’s growth make Liquid a wise choice for traders seeking leveraged trading options. For these reasons, you can expect Liquid to remain a notable exchange in the market.
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