Livecoin (livecoin.net) Exchange review – Is livecoin Safe or Scam?

Summary (tl;dr) :

No, We don’t recommend our reader to use Livecoin. It’s a garbage exchange due to following reason :





  • It took absurdly lots of confirmation time when you make BTC deposit (10 60 confirmations and my deposit still pending). Compared to poloniex, It only took 1 confirmation for BTC to get deposited. What kinds of garbage exchange needs >10 confirmations for BTC deposit!?
  • If you are an arbitrage trader, forget to use this coin as you will probably missed the target price for your arbitrage.
  • The exchange is slow and not updated in real time, We have to constantly refresh.
  • Support take a long time to reply your support ticket (Although this is applied for almost all exchange nowadays :twisted:)

 

 

My experience trading at livecoin.net

I’m mostly trade my cryptocurrency on poloniex.com and bittrex.com, With occasional visit to the ghetto exchange yobit.net

The recent cryptocurrency exchange that I used is called livecoin.net. I had to use this exchange because I need to buy PoSW Coin, and one of the exchange that list PoSW Coin is livecoin.net. So I register there. The sign up process is mostly the same with other exchanges, no issue here.

I get huge issue when I’m sending my bitcoin to my livecoin deposit address. So I expect it will only took 2-3 confirmations before it shows up on my account.

1 confirmation after 10 minutes…. Still not deposited

2 confirmation after 15 minutes…. Still not deposited

3 confirmation after 25 minutes…. Still not deposited

10 confirmation after 3 hours…. Still not deposited!!

52 confirmation after 8 hours…. Still not deposited!!

This is the longest time I’ve ever experienced in terms of bitcoin deposit to exchange! Even the ghetto yobit is faster! I contact support to ask why is it taking so long, but I haven’t receive any answer until now (12 hours later). This will be the last time I will ever use this garbage exchange. I should’ve used Cryptopia or even Yobit next time.

Will it be Scam!?? Is livecoin.net scam? Currently no scam indication, only lousy exchange services, but we will see in a couple of days/weeks. Either way they already lost one customer for sure (me). Even if my BTC does get deposited eventually, it’s already too late and PoSW price is already getting ridiculously high right now. 

With such unprofessional website, slow trading experience, deposit hassle and virtually no support at all, I wouldn’t be surprised if it’s going into Mt. Gox’s direction. I suggest everyone to withdraw all of your money immediately from this exchange. I wouldn’t risk my hard earned money to be stolen by some shady exchange like livecoin. Better safe than sorry!

 




5 thoughts on “Livecoin (livecoin.net) Exchange review – Is livecoin Safe or Scam?

  1. It’s 8:01 EST 5/26/17 and the Livecoin exchange is down! I wonder what type of computer systems they use. Are they fault tolerant and linearly scalable? Will they hang up when cryptos really take off? I think it’s wise to use different exchanges and limit your exposure. There’s no need to take an exchange off line for maintenance if the proper investment is made in a reliable computer system. I know HPE NonStop systems are designed to never have issues like this.

    I do like the website and trading pairs, it’s a great trading platform. I’ve had no problems with response times yet……..

  2. good day . i have already deposited money on livecoin.net before reading this review. i am having difficulties withdrawing my btc now. they sent me a confirmation code to my email and they said i should use it to confirm my withdrawal but there is no space to input the code. please help. thanks

  3. My account has been hacked on livecoin, i lost £1500 worth of crypto currency and reported to livecoin as well but they are useless and not helpful can anyone please advise me how can I get my money back ??

  4. I transferred 2.00138600 ETH over 24 hrs ago and sent 2 emails to Livecoin and NO response has does anyone have any advise on how to get my money or are they a SCAM

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