Cryptocurrency exchanges play a crucial role in the digital asset ecosystem, offering traders access to markets, tools, and financial instruments. Among them, Liquid has carved out a niche by providing a streamlined trading experience with support for both crypto and fiat currencies. This 2025 review dives deep into Liquid’s offerings—its features, fees, security, availability, and more—to help you determine whether it aligns with your trading goals.
Key Features of Liquid Exchange
Liquid operates on a proprietary trading platform, delivering a functional web interface powered by TradingView, along with a dedicated mobile application. The exchange supports spot trading, margin trading, and perpetual contracts, enabling users to leverage positions up to 1:25 for margin and 1:100 for futures.
The platform accommodates a diverse range of assets, including major cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). With support for 100 cryptocurrencies and seven fiat currencies—USD, EUR, SGD, HKD, AUD, JPY, and PHP—Liquid offers solid liquidity across multiple trading pairs.
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For beginners, Liquid provides an educational Academy with guides and tutorials. Additionally, customer support is accessible via email and social media channels, though notably absent is a phone-based call center.
Regulation and Security: What You Need to Know
One of the most critical aspects of any crypto exchange is regulatory compliance and security infrastructure. Liquid scores 4.5/10 in this category, signaling notable concerns.
Is Liquid Regulated?
No, Liquid is not regulated by any tier-1 financial authority or government body. While it complies with international sanctions and enforces KYC (Know Your Customer) verification—mandatory for all users—the lack of formal oversight raises red flags for risk-averse traders.
Compared to regulated competitors like Kraken (U.S.-regulated) or OKX (government-regulated in certain jurisdictions), Liquid falls short in institutional credibility.
Security Measures in Place
Despite the absence of regulation, Liquid implements several security protocols:
- Two-Factor Authentication (2FA)
- Cold wallet storage for the majority of user funds
- No history of facial recognition requirements
However, the exchange has suffered successful hacker attacks in the past, underscoring potential vulnerabilities. Notably, it lacks an investor protection fund, which could leave users exposed in case of insolvency or theft.
Fees and Commissions: Competitive or Costly?
Liquid receives a mixed rating of 4.95/10 for its fee structure. While some fees are below market average, others are relatively high.
Trading Fees
| Fee Type | Maker | Taker |
|---|---|---|
| Spot Trading | 0.3% | 0.3% |
| Futures Trading | 0% | 0.12% |
- Spot fees (0.3%) are above the industry average (~0.15% maker, ~0.194% taker).
- Futures fees, especially the zero maker fee, are highly competitive and below average.
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Deposit & Withdrawal Fees
- Deposit fee: 0% — free for bank cards, wire transfers, and crypto deposits.
- Withdrawal fee: Variable (e.g., 0.0007 BTC or 0.01 ETH), which may impact frequent withdrawals.
While Liquid supports bank transfers and cards for instant funding, it lacks modern options like Google Pay or PayPal.
Availability and User Access
Liquid is available in the United States, though service availability may vary by state due to local regulations. However, the exchange is not accessible in numerous countries, including:
- United Kingdom
- Canada
- Australia
- India
- Nigeria
- France
- Germany
- Singapore
- And over 100 others
This broad restriction limits its global reach compared to more widely available platforms.
Supported Coins & Markets
With 100 supported cryptocurrencies, Liquid offers a decent but not expansive selection. It supports:
- Crypto-to-crypto trading
- Crypto-to-fiat pairs
- Futures and perpetual contracts
- Yield farming and staking (without locking funds)
However, advanced traders may find limitations:
- No options trading
- No NFT marketplace
- No copy trading functionality
When compared to exchanges like OKX (329 coins) or Kraken (278 coins), Liquid's asset diversity is modest.
Passive Income Opportunities
Liquid enables users to earn passive income through:
- Staking: Stake select cryptocurrencies without freezing balances.
- Referral Program: Earn 30% of your referrals’ trading fees—an unlimited and attractive incentive.
- Yield Farming: Participate in liquidity pools to generate returns.
While these features add value, they don’t include newer models like copy trading or structured products found on competing platforms.
Mobile Experience and Platform Usability
Liquid’s mobile app ensures traders can manage positions on the go. The interface is intuitive, integrating seamlessly with the web-based TradingView terminal. Features include real-time charts, order execution, portfolio tracking, and access to staking.
Though functional, the platform lacks advanced tools such as algorithmic trading or API customization seen on elite exchanges.
Frequently Asked Questions (FAQ)
Is KYC required on Liquid?
Yes, KYC verification is mandatory to open an account and access full trading capabilities, including deposits and withdrawals.
Does Liquid offer P2P trading?
No, Liquid does not support peer-to-peer (P2P) transactions. Users must rely on traditional deposit methods or third-party platforms for direct trades.
What is the minimum deposit on Liquid?
The minimum deposit is **$1 USD or 1 USDT**, making it accessible even for small investors. The minimum trade size is also $1.
Can I trade fiat currencies on Liquid?
Yes, Liquid supports fiat trading with USD, EUR, JPY, SGD, AUD, HKD, and PHP—allowing seamless onboarding from traditional currency.
Is there phone customer support?
No, Liquid does not offer a call center. Support is available via email and official social media accounts only.
Has Liquid been hacked before?
Yes, Liquid has experienced successful cyberattacks in the past, highlighting the importance of personal security measures like 2FA.
Final Verdict: Who Should Use Liquid?
Liquid suits experienced traders comfortable with higher-risk environments who prioritize low futures fees and flexible staking options. Its lack of regulation, limited coin selection, and absence of phone support make it less ideal for beginners or those prioritizing safety.
While it offers innovative features like an unlimited referral program and zero maker fees on futures, traders seeking comprehensive regulation, broader asset access, or robust customer service may want to explore alternatives.
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