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I tried out Liqui.io Cryptocurrency Exchange and I want to tell others my experience and remind them they should NEVER trade there.
Do yourself a favor. Stick with trusted sites like Bittrex for your cryptocurrency trading.
I became leery of the split orders early on, after all there is a premium for withdrawing Ethereum, but I was leery because I was arbitraging. This means that you have to wait to withdraw one time or pay the fee two times, so the incentive as a trader is to wait, but you don’t have time to wait with arbitrage.
This is not the reason I would recommend NEVER trading at Liqui.io however. In fact, I went back.
I now question the low hanging fruit of Eth prices on the exchange, but then again, that’s why I moved in for the arbitrage. What this means is I would transfer in Bitcoin to buy Ethereum because it was cheaper than other exchanges and then I would go sell at the higher price at the other cryptocurrency exchange. Time is of essence and it’s risky, but there was a reason I was doing it. After all, this is supposed to be a decentralized world, not with these guys.
The reason I will not trade there is not because they allow someone to buy a small amount of tokens (MELONPORT, MLN) as I was buying with my “dust”, but then when I had had it with the entire exchange, they won’t let me withdraw it, so that’s where they acquire dust, no big, that’s not why I will never trade there again. They can have the dust.
The reason I will never trade there again and am giving Liqui.io a horrible review is because of what happened when I was trying to arbitrage.
I waited until the high of the night and the high of Ethereum in general after successfully buying Ethereum, it kept going up and then I set the sell order, was checking Bittrex price that just kept going up, so then I tried to withdraw my Ethereum to move to Bittrex. But no…they didn’t allow it. Imagine that.
I wasn’t the only one experiencing this, I saw in the chat box someone else having problem moving the eth. He was asking for support to help him. Now I know why.
It sat for over 2 hours “in progress” and when I asked what was going on in chat, they censored me and banned me, so they are not a free speech sort of exchange either. It’s just a shady exchange all the way around.
So the trade finally went through, but only after the price came off at Bittrex and plummeted far below where I bought in at Liqui.io, meaning I would have done excellent in the trade had it gone through, but no….it sat “in progress” for over 2 hours. There was nothing I could do but watch Ethereum plummet.
So I asked these dicks for an explanation in advance of writing this review just what the hell happened and evidence to support this scam, as I have to question if they got some sort of fractional reserve tokenization going on there, and this is what they came back with.
from: Liqui Support
date: Sat, Mar 25, 2017 at 7:45 AM
subject: Re: Liqui Review
encryption: Standard (TLS) Learn more
: Important mainly because it was sent directly to you.
Your account was under security check.
> 25 марта 2017 г., в 16:19, Bitcoin Macroeconomics
So they put my account on security check and it totally screwed up my arbitrage. NEVER TRADE AT LIQUI.IO and beware of the scam crypto exchanges.
And here’s the chatlog when it was going down, not all of it because they censored some of it, the bastards.
as of 11 pm still never got my trade was in processing
infestedpasta: thats kind of what I was thinking
RCT007: infestedpasta, Maybe ETH can be more strong
RCT007: many apps like VSL in dev. now!
infestedpasta: yeah but it will probably dip a little bit first
infestedpasta: waiting to buy back in to increse my stack
rajumethwani: does any one knows when will be wings tokens launched
mufasa: Does anyone know how long it takes to get a confirmation email?
RCT007: use chrome
mufasa: I see.
RCT007: liqui its very fast
mufasa: It seems that way. There is a lot of talent around the world, it appears.
32xxl: admin? ETH withdrawal stuck, please fix!
32xxl: any support here?
Bitcoinfan: 32xxl, Hi! Send your request to email@example.com
btcmacroecon: why is the eth needing to “processing” to get my tokens?
btcmacroecon: you realize this is called an exchange right?
btcmacroecon: what are you doing fractional reserve tokenization?
btcmacroecon: why should he contact support for a major delay like this?
btcmacroecon: why dont you have automatic processing set up to avoid this?
btcmacroecon: this is pretty much inexusable for any exchange and better be good god damn reason for it too, in fact you should announce what your major malfunction is
btcmacroecon: aint nobody going to disagree with me either
Bitcoinfan: btcmacroecon, keep calm!
32xxl: btcmacroecon, agree… usually it processed in 1-2 minutes
System: btcmacroecon has been banned by Bitcoinfan on 7.00:00:00.
Trade BTCMACROECON Here!!!
or scroll to bottom of list and click OTHER and input token smart contract address, name, and decimal amount.