Liqui Exchange: Is it Legit or a Scam?

liqui bitcoinTo trade your cryptocurrencies securely and take advantage of new assets released through ICOs, you need to select a reliable cryptocurrency exchange. A cryptocurrency exchange is a trading platform designed to operate like the forex market, but deals mainly with digital currencies.

One of the emerging exchanges that has attracted users is Liqui. Since its entry into the cryptocurrency market in 2016, Liqui’s markets have grown steadily to more than 240, while the listed coins are over 100.

The most significant attraction to the Liqui exchange is the promised 24% average APR (annual percentage rate). Nevertheless, serious security concerns have emerged as users claim that not only are their coins are getting lost, but Liqui’s management rarely addresses these issues.

This Liqui review is a comprehensive evaluation of Liqui to explore these concerns as well as answer key questions, such as “Is Liqui Legit of scam?” and “Should you use Liqui?”

What is Liqui?

Liqui is a centralized trading platform started in 2016 that operates out of Kiev, Ukraine. However, the top leadership of the exchange remains unknown. Unlike other exchanges such as Binance and Bittrex, whose founders are listed on the site, the only information about Liqui’s leadership is that there are seven founders.

The exchange was created to help make trading in digital assets easy and direct for experienced and new traders alike. Liqui simplifies cryptocurrency trading by allowing traders to open accounts and start trading with only the initial email confirmation.

Note that Liqui is not regulated because Ukraine does not have laws related to cryptocurrency exchanges. However, a draft bill was submitted to Ukraine’s parliament in October 2017 seeking to place cryptocurrency trading under the National Bank of Ukraine.

Liqui: A 2.1 Star Crypto Exchange

When Liqui was created, the cryptocurrency community was excited by the idea of a new exchange with limited bureaucracy as Liqui made registering for accounts simple and fast.  

However, the design and operation of the exchange have raised questions among users as to whether Liqui is indeed legitimate, and this review rates Liqui at only 2.1 stars.

One of these questions is the platform’s ability to support the 24% average APR for all savings.

The rating of the platform also is low compared with others such as CEX.IO and Binance because of rising security concerns. Many users have complained that their coins were lost, but Liqui’s management rarely responds.

There appears to be a consensus in the cryptocurrency community that Liqui is a scam. The rating could go down even further if the exchange fails to address these serious concerns.

How Does Liqui Work?

  • The Liqui Trading Account

Although Liqui is not regulated, its design closely follows those of most trading platforms in the market today. To access the platform, users are required to sign up for trading accounts. Liqui has three account types: New, Basic, and Enhanced.

Because there is no additional verification required beyond the initial email, the account is ready for trading as soon as a trader confirms his or her email address. To start trading, the user is required to deposit some coins and select the preferred pair from more than 80 listed digital assets.

Liqui also provides trading metrics to help users make sound decisions based on current market conditions. To learn more about trading at Liqui, here is a video showing how to buy Salt Token on the platform.

Note that Liqui imposes a limit on the amount you can withdraw in a 24-hour-period. New accounts have a daily withdrawal limit of 5,000 USDT, while Basic and Enhanced accounts are capped at 50,000 USDT and 500,000 USDT, respectively.

  • The Liqui Saving Account

Liqui also offers users the option to operate savings accounts and earn a 24% APR. This is one of the main attractions that draws cryptocurrency enthusiasts to the exchange.

The 24% APR has been a subject of debate with many users arguing that it is unsustainable in the long term. The interest is paid using 75% of the transaction fee that traders pay.

Liqui sets a minimum limit on cryptocurrency volume such that it can guarantee a 24% APR. In 2016, the limit was 200 BTC, which was later increased to 300 BTC in 2017. The ultimate goal of the exchange is to raise this limit to 1000 BTC.

Note that the limit applies to all cryptocurrencies. Therefore, if you are using Ethereum, it will be quoted in its BTC equivalent.

  • The User Interface

Liqui provides traders with a browser-based trading platform and a layout that is user-friendly. This is meant to ensure that any person including newbies can join and start trading like pros fairly quickly.

On the left side of the platform’s page is the order book and instrument list where cryptocurrencies are grouped into threes. This categorization is primarily based on whether the user wants to trade against ETH, USDT or BTC.

At the bottom of the page is the trade history, so a user can check the past performance of various pairs after selecting the preferred ones. The TrollBox, or support section, is also located at the bottom.   

The caption below shows the user interface captured from Liqui at (

liqui exchange user interface

The Liqui Transaction Fees

The Liqui review platform follows a basic format for fee structure. Because all transactions must run through the respective blockchains, a fee must be incurred for confirmation by miners.

Initially, Liqui charged a 0.5% transaction fee with the taker and maker paying 0.25% each. However, Liqui changed its fee structure to match shifting market dynamics.

Today, the taker pays a fee of 0.25%, while the maker pays 0.1%. Though the Liqui team indicates that the fee is competitive, it is relatively high compared with other platforms such as Binance, which charges 0.1% with an option to pull it down by 25% if traders pay with BNB.

Is Liqui Safe?

Trading exchanges such as Liqui have become the targets for hackers because users’ coins are pooled together in the same vault. In 2017, users reported security attacks and losses from their Liqui accounts.

To keep the coins and their information safe, Liqui installed industry-standard security measures. The main method used in the platform is two-factor authentication that requires not just a username and password, but also something that the user has on them, such as a phone. Liqui also use API keys, a unique code  to identify user. The API keys act as an identifier and secret token for authentication in the Liqui platform.

Liqui’s management team monitors the platform to identify gaps and address them to avoid attacks. However, consistent reports of attacks have made people question the effectiveness of the platform’s safety strategies.

One of the common issues raised by users is that often times when a withdrawal is made, a fake transaction ID is issued by Liqui. To make the problem worse, the Liqui management rarely replies to inquiries raised about withdrawals.

This has made people who have used the platform feel unsafe and have even labeled it a scam.


Liqui exchange was introduced as a carefully designed exchange that has garnered mixed reviews from the cryptocurrency community. Users complain that Liqui’s management takes very long to address security concerns, or is unwilling to address these concerns, which has marked the platform as a scam in online communities such as Reddit.

Here is a summary of the pros and cons of using Liqui.


  • The process of opening a trading account at Liqui is straightforward.
  • No verification is needed when registering at the platform.
  • The platform lists many digital assets, which makes it possible to easily pick a profitable pair.
  • Provides users with a very high APR of 24% for all the cryptocurrencies they have on the platform.
  • Traders benefit from the platform’s intuitive user interface.


  • The exchange does not have margin trading.
  • The trading platform is crypto-only.
  • It is unclear how Liqui will sustain its 24% APR.
  • The leadership of the exchange is unknown.
  • High transaction charges.
  • Consistent instances of attacks.
  • The exchange is not regulated.

Liqui was established to exploit the unregulated Ukraine environment, attracting more high-risk traders to the platform. Liqui’s commitment to helping people open trading accounts and start trading without verification is attractive to users seeking anonymity.

Despite its advantages, Liqui has all the signs of a scam. The identities of the founders/managers are unclear, the  high APR appears designed to help draw clients to the platform but may be unsustainable, and many users complain that withdrawals are difficult.

For cryptocurrency traders looking for a reliable, safe and easy-to-use platform, this Liqui exchange review recommends that users exercise caution before considering Liqui and first compare it with other top exchanges such as Binance and Kraken.