Early Days
Livecoin showed up around 2013, carrying the BitShares flag yet operating like a standalone gateway. It offered trading in over 150 coins with fiat pairs in USD, EUR and RUB. The UI was clean, language support was broad, and fees were competitive. It even managed to attract users looking to trade obscure tokens easily with low friction.
Fee Edge & Fiat Access
What stood out early on was how cheap it was. Flat 0.18% maker and taker fees. Withdrawal fees were low too - 0.0005 BTC that undercut many peers. On top of that, they supported bank wires and multiple payment options for fiat. It felt like a bargain bin exchange for serious altcoin hunters who didn’t care much about branding.
Sudden Collapse
Everything unraveled on Christmas Eve 2020. The platform claimed to be hit by a "carefully planned attack." Servers were allegedly compromised, prices spiked absurdly - Bitcoin showed at hundreds of thousands - and access slipped out of the team’s hands. Within weeks, they announced closure, said they’d refund users, and set a March 17 deadline for claims to be filed.
What Went Wrong
| Strengths | Weaknesses |
|---|---|
| Low fees and cheap withdrawals | Fragile infrastructure, high breach risk |
| Fiat access for niche altcoins | Lack of regulation or safeguards |
| Broader altcoin listing | Shutdown left users stranded |
| User-friendly design | Refund process opaque and users left hanging |
| Lightweight and efficient | Disappeared post-closure without full resolution |
Downfall & Exit
Attempts at refunds were promised - users were asked to submit passports, selfies, device info, and even video evidence of first withdrawals. Safe-sounding? Maybe. But many never got paid. The domain changed. Communications faded. Investigations lingered. Some called it exit-scam territory.
Final Verdict
Livecoin started with potential - cheap, alt-heavy, fiat-friendly. But cracks were always there. A major hack, or maybe self-inflicted, toppled it all. The vendor is gone. Some users got partial refunds. For most, it’s a cautionary tale: fast growth with weak foundations doesn’t endure. You want stability, protection, and depth - there are better places to park your capital these days.