Liquid

This post is also available in: Deutsch (German)

Liquid is a cryptocurrency exchange that was founded in 2014 and it is regulated by the FSA Japan. It has offices in Singapore and Tokyo, Japan with a license giving the opportunity to operate globally. This cryptocurrency exchange is offering a high number of trading pairs, fiat currencies with the ability to spot trade and margin trade with high leverage. 

Liquid is the exchange that has the highest daily trading volume for BTC/JPY in the world. Compared to another Japanese exchange Coincheck, Liquid is not limited to Japanese residents only, which gives it much higher flexibility and internal liquidity.

BONUS

92%
TOTAL SCORE
SUMMARY

Liquid is a Japanese cryptocurrency exchange where you can trade multiple cryptocurrencies like Bitcoin and Ethereum and margin trade while having access to high leverage.

INFO
  • Headquarters Tokyo, Japan
  • Foundation Year 2014
  • Deposit Options Crypto, USD, EUR, JPY and more
  • Min Deposit 10$
  • Max Leverage 100x
  • Options Crypto
POSITIVES
  • Very Good UI
  • High Liquidity
  • Very low fees
NEGATIVES
  • Strict KYC Procedure

Liquid Features Review

Markets Crypto, fiat
Supported countries Worldwide
KYC Yes
Leverage 100x
Deposit Options Crypto, USD, EUR, and more
Min. Deposit 0.001 BTC
Max. Withdrawal Limit Depending on verification level
Trading fee 0.05%
Support live chat, e-mail
Mobile app iOS, Android

Liquid Security Review

Liquid applies high-level security practices for its users to protect them from various external risks. The exchange offers various account security practices such as 2FA, Strict Password Reset, and Cool-off period.

A cool-off period is an account security feature that states that withdrawals will be blocked for 3 days if you change the account password or email address. After the lock period is finished you can resume withdrawals freely of your funds. One other neat feature is the need for approval for account changes from at least two staff members of Liquid. 

For the funds, asset protection Liquid is using the mandatory industry-standard practice of having 98% from the assets, money held in cold storage. 

Is there a KYC procedure on Liquid?

Yes, there is KYC procedure put in place to prevent money laundering from going on the exchange which should also add more security for the user accounts in some cases. 

Deposits and Withdrawals

liquid wallets

Liquid is one of the exchanges offering a very high number of cryptocurrencies and fiat currencies for deposits and withdrawals bringing a number of more than 100+ and 10 fiat currencies.

You can deposit and withdraw the following fiat currencies on Liquid:

  • USD
  • EUR
  • SGD
  • HKD
  • AUD
  • CNY
  • INR
  • JPY
  • PHP
  • IDR

On Liquid you can deposit and withdraw the following cryptocurrencies:

  • BTC
  • ETH
  • ETC
  • LTC
  • XRP
  • XLM
  • XMR
  • ZEC
  • NEO
  • DASH
  • BCH
  • ETN
  • TPAY
  • TRX
  • VER
  • LINK
  • UNI
  • DOT
  • And more…

Trading Instruments

Liquid is all in one exchange where you can do Spot, Margin, CFD, and Perpetual contracts trading. 

Spot Trading

For spot trading you will find a very high number of trading pairs against different fiat currencies like the USD, EUR, AUD, and more… and for cryptocurrencies pairs, you can trade against BTC, ETH, and QASH. 

Margin Trading

Liquid allows margin trading with up to 25x for a number of pairs against different fiat currencies. You can margin trade Bitcoin, Ethereum, and Ripple with 25x leverage against USD, EUR, HKD, JPY, SGD, and AUD.

Although limited when compared to Binance it is still a good offering considering the number of fiat currencies that you can trade against on margin.

Infinity

Infinity on Liquid is CFD trading (contract for difference) where you can trade Bitcoin against JPY or the USD with up to 100x leverage. The higher leverage you use the fewer Bitcoins you can risk meaning that with 5x leverage you can risk max 250 BTC and with 100x leverage used you are limited to risking 50 BTC.

Perpetual 

You can trade Perpetual contracts on BTC again against JPY and USD with up to 100x. 

Compared to other leverage trading platforms like Bybit and Margex where you can trade BTC, ETH, LTC, XRP, and more, Liquid is quite limited.

Note: On Liquid you can margin trade using either Cross or Isolated margin type.

Buy/Swap

buy and swap liquid

You can buy a wide range of cryptocurrencies with debit/credit cards with more than 10 fiat currencies like the USD, EUR, JPY, AED, ARS, CAD, CNY, and more. 

Lending

liquid lending

You can lend your assets to Liquid and earn daily interest on loans for the traders that trade on margin. Interest on the loan is generated while there are open trading positions and once a position is closed the funds are returned to the lender. 

Order Types

The order types on Liquid for all forms of trading are the mandatory Limite, Market, Stop, and Trailing Stop order. Liquid also offers to change the mode when trading to Net Out, One Direction, or Two Direction which means that you can make further adjustments to trade more safely. 

Net Out 

Net Out mode is – If you have an open a long position of 5 BTC and you want to open a short position for 3 BTC after you have opened the long position, in this mode, it will result in having one long position for 2 BTC.

One Direction

You can open positions only in one direction as the first opened position. For example, you will not be able to have both long and short positions open simultaneously. 

Two Direction

You can open both long and short positions simultaneously in this mode.

User Interface

liquid blue user interface

liquid infinity trading

liquid white user interface

Liquid’s trading interface is very interesting and offers a clear display of all tabs, showing a Japanese quality design. The UI comes in a preset and the color of the interface can be changed to white, black, or blue. Otherwise, you have the option to fully customize it to your preferences, almost without limits, and still keeping that quality in its design.

The design comes with the chart in the center, while all the important data is located on the sides of it. The Order tab is located on the right side with all the relevant details and options. The UI layout design is one of the best in the industry for trading platforms. Easy to navigate and understand, all while providing detailed information. 

Liquid Exchange Fees

Liquid is one of the exchanges in the crypto space that offers low fees to provide favorable trading conditions. Since the exchange is highly diversified in terms of trading instruments, there are different trading fees depending on the type of trading, be it spot trading or perpetual trading. 

Spot/Margin/Infinity

30 Day Volume Maker Taker
≧$0 0% 0.1500%
≧$10,000 0.1450% 0.1450%
≧$20,000 0.1400% 0.1400%
≧$50,000 0.1300% 0.1300%
≧$100,000 0.0800% 0.1000%
≧$1 Million 0.0400% 0.0800%
≧$5 Million 0.0350% 0.0600%
≧$10 Million 0.0250% 0.0500%
≧$25 Million 0.00% 0.0450%

Perpetuals

30 Day Volume Maker Taker
≧$0 0% 0.600%
≧$$25,000 0.0000% 0.0575%
≧$50,000 -0.0250% 0.0550%
≧$100,000 -0.0250% 0.0525%
≧$1 Million -0.0250% 0.0500%
≧$10 Million -0.0250% 0.0475%
≧$25 Million -0.0250% 0.0450%
≧$50 Million -0.0250% 0.0425%
≧$75 Million -0.0250% 0.0400%

Margin Lending Rate

If you trade with margin you will need to pay interest on the loans. Interest is paid at the moment of the opening of a position and once per day at 22:00 PM UTC while the position is active.

Infinity Financing Fees

The finance fee for Infinity trading is 0.05% that is charged once a position is opened and every 8 hours at 0:00 UTC, 8:00 UTC, and 16:00 UTC.

Deposit fees

For cryptocurrency deposits, there are no fees while for fiat currencies deposits there may be fees on the payment processor side.

Withdrawal Fees

There are small withdrawal fees for every cryptocurrency which is a standard for the industry.

  • BTC – 0.0007
  • ETH – 0.01
  • BCH – 0.25
  • USDC – 5
  • KMD – 1
  • TRX – 63

Withdrawal rates for fiat currencies

  • USD – 0.10% – Minimum fee 15 USD
  • SGD – 0.10% – Minimum fee 15 SGD
  • EUR – 0.10% – Minimum fee 15 EUR
  • EUR (SEPA transfer) – 5 EUR.

Liquid exchange volume

The daily trading volume on the Liquid exchange is quite high sitting at around 300 million USD between 175 pairs separately. The trading pair with the highest 24-hour volume is BTC/JPY with 290 million USD, the second is ETH/JPY with 15 million USD and the third place goes to BTC/USD with 11 million USD.

Affiliate Program

You can refer people from which you will get 30% of their trading fees while they take a 10% discount on them. 

Liquid Review Conclusion

If you are looking for an all-in-one cryptocurrency exchange and especially if you are based in Japan, Liquid may be the exchange for you. It offers spot, margin, and perpetual trading plus Liquid supports a lot of fiat currencies that you can use to buy cryptocurrencies directly on the exchange. This is a regulated exchange, which means that you can feel confident that the exchange is up to par with the strict requirements that the Japanese regulator has, as they are famous for being one of the strictest.