All About Live Bit - monicaharper/Live-Bit GitHub Wiki

Live-Bit is a Bitcoin and altcoin exchange platform that offers many currency pairs, including altcoin trading for FIAT currency. The exchange does not have a specified market that it is targeting on the world map, but it appears to be focusing on altcoin traders.

Verification

Apparently, verification is only needed for users who plan to use bank transfers to make the deposit. The verification process is not presented publicly and all users who wish to verify their account are directed to the contact page. There are no business limits associated with verification.

The exchange supports the following FIAT currencies: • US dollar • EUR When it comes to digital currencies, there are a large number of supported altcoins. The full list of supported parts is available on the website.

Live-Bit Fee Schedule

Live-Bit uses a maker / taker fee model with competitive taker fees and manufacturer bonuses with a sliding scale based on monthly trade volume. This means that every time the user places an offer on the trade order book for other users to take up, they receive a bonus instead of paying a trading fee. This model encourages users to actually provide cash instead of taking cash from the order book by accepting offers from other users. Bonuses vary from 0.01% to 0.1% on each transaction made by users, and the volume of transactions passed determines them. When it comes to taker fees, the exchange has a very competitive fee model. For volumes less than US $ 2,000, a charge of 0.20% of the traded amount applies. As the monthly volume increases, the fee percentage decreases. Finally, for volumes greater than US $ 300,001, the commission reaches the minimum of 0.01% of the traded amount.

Live bit trading analysis

Trading on Live Bit is easy and the exchange offers some cool features. There are a few types of orders: • Standard market order • Limit order • Pending order The first two are usual commands on the majority of exchanges, but the third is where Live Bit shines. Pending orders are orders that are automatically triggered when the price reaches a certain level specified by the trader. This can be very useful in markets where many competitors are trying to be at the top of the order book or in cases where the user could influence the market by placing a large order. Pending order helps prevent market disruption by hiding book offers that everyone can see. Margin trading is not supported on this trading platform. neither derivatives nor futures.

One of the finest things about this exchange is their altcoin and FIAT currency pairs. This option makes things much easier and makes the calculation of profit and loss less complicated. It also removes a layer of unnecessary expense due to paying two sets of fees instead of just one. Indeed, on the majority of trading platforms, users have to exchange FIAT for Bitcoin, then Bitcoin for other coins. There are no FIAT / altcoin trading pairs. This feature makes Live Bit particularly attractive.

Ease of use

The interface is fine designed and comparatively easy to use. Everything is just a click away and switching between markets is faster than on other exchanges. The company doesn't offer apps for Android and iOS yet, but the website is responsive and looks good on mobile devices. It's beautiful, it's easy to use, and the loading time is impressive.

Support

The Live Bit.net support team is very professional and friendly. The types of support offered are 24/7 chat and email support.

Security

The website offers two-factor authentication and PIN as well as SMS and email notifications. There is no information on email encryption or cold storage of coins. There haven't been any hacking attacks so far, which means this is a safe place for Bitcoins as well as altcoins.

Conclusion of the Live Bit

Live Bit is a great exchange with huge support for altcoins and a very competitive fee schedule. • Support for many altcoins • Quick deposits and withdrawals • Competitive fees Live Bit is one of the few exchanges to offer trading altcoins for FIAT currencies, making it a valuable market. Very reliable and affordable exchange.