A relatively new crypto exchange in the market, Liquid aims to provide liquidity to the crypto market. If you want to buy cryptocurrencies with other digital currencies or fiat currencies, you need to take a closer look at Liquid exchange.
Liquid – “Crypto Without Limits”
Launched in September 2018, Quoine is the team behind this multi-crypto exchange platform called Liquid that also introduced two other crypto exchanges viz. Quoinex and Qryptos. Quoine, the parent company of Liquid is one of the few exchanges that is a registered and regulated under financial services authority in Japan, as per country’s new crypto regulations.
This exchange put the power in users’ hands through its powerful, seamless, and accessible platform. It allows one to discover new tokens, take part in quality ICOs, study the market or trade on margin while its World Book enables trading in the quote currency of your choice, with enhanced liquidity.
Native Token: QASH Token
QASH is the native token of the Liquid platform that offers its users and holders a range of benefits. It has a total supply of 1 billion tokens while the calculating supply of 350 million.
As for its listing on exchanges, first and foremost, it is available on its own exchange Liquid against both crypto and fiat currencies. Huobi, EXX, Hotbit, Ethfinex, Gate.io, GOPAX, IDEX, and LATOKEN are other exchanges it is listed on.
According to Coinmarketcap data, QASH is positioned under 100 top cryptocurrencies. In mid-January 2018, QASH hit its peak at about $2.40.
The purpose of this token is to lower the ever-increasing burden of liquidity in the market and eventually solve this issue. In order to resolve the problem of liquidity, the plan is to create a platform that connects all the crypto exchanges in the world, called World Book along with Prime Brokerage, an advance selection of trading tools.
Features and Fee Structure
Liquid offers its services around the world. However, a United States participant can’t trade in fiat pairs. Additionally, Japanese residents can trade in only those pairs approved by the country’s authority.
A few exceptions to its wide availability are Congo, Eritrea, Ethiopia, Iran, Iraq, Libya, North Korea, Serbia, Somalia, South Sudan, Sri Lanka, Sudan, and Syria among others.
Order Features: Market orders, Limit orders, Stop-loss orders, and Trailing stop orders are the available options. Moreover, its Matching Engine makes its “one of the most advanced matching engines in the industry,” while smart order routing (SOR) system provides low latency and real-time feeds for major exchanges worldwide.
Credit Facilities: The Prime Brokerage will offer the crypto/fiat credit facilities to the customers. Through this users will be able to leverage their existing balances and avail the benefit of enhanced trading opportunities.
Fiat Currencies Supported: Japanese yen (JPY), US dollars (USD), Euros (EUR), Australian dollars (AUD), and Singapore dollars (SGD) are the fiat currencies Liquid accepts for crypto transfers and deposits.
Deposit Fees: There is no fee on the deposit of fiat or digital currencies from Liquid’s side. However, your bank or payment processor may charge a particular fee.
Trading Fees: When it comes to crypto-to-fiat trading pairs, there are no fees. As for crypto-to-crypto pairs, 0.15% of transaction value for market takers and -0.075% of transaction value (a rebate) for market makers is the rule.
However, on paying the trading fees in QASH, a market taker can avail the 50 percent discount on crypto-to-crypto pairs. On margin trade, 1 0.05 percent fee is applied to both crypto-fiat and crypto-crypto pairs.
Withdrawal Fees: There is no fee charged on crypto withdrawal by Liquid. But for fiat currency withdrawals, $5 for USD, €5 for EURO, $5 for AUD, and JPY¥500 for JPY (JPY¥216 also applies if recipient bank account is local) applies.
Transaction Limit: A trading limit of 500 BTC per hour for market takers and spot trades applies. In addition, the proof of ID is required in order to withdraw funds from the Liquid account.
Having acquired the license from the Japanese Financial Services Agency (FSA), Quoine ensures the utmost level of security for its invests. It has further implemented anti-money laundering and security measure to protect the users’ funds.
Before one can start trading, ID verification that includes government issued ID, proof of address and a selfie is required.
Mandatory 2-factor authentication for all users along with 100% cold wallet storage of crypto assets further ensures customer security. It also introduced cooling-off periods to prevent phishing attacks along with whitelist crypto withdrawal address and further doesn’t allow API withdrawals.
Through its well-documented knowledge base, Liquid ensures proper customer support. In case you are having any problems with transaction or account, Liquid provides several guides and a range of FAQs. Apart from the online support center, it also provides further assistance through a live chat window so you can start a conversation with the support team of the exchange.
A Note to Investors