LIVEBIT-1210762691720

LiveBit is an offshore

cryptocurrency

exchange that offers a web-based trading platform for digital assets. It provides a range of cryptocurrencies for trading, including popular ones like Bitcoin, and claims to offer leverage of up to 1:5. However, there are concerns regarding its legitimacy and regulatory status, as it operates without authorization and has been associated with suspicious activities .

The exchange has a simple account creation process and offers two levels of verification for users. The first level allows for a daily withdrawal limit of $2000 and enables margin trading, while the second level, after providing more personal information and verification documents, raises the daily withdrawal limit to $25,000. There is also a mention of a third, unspecified level of verification that could potentially offer higher withdrawal limits .

LiveBit's trading platform features a user-friendly interface with advanced trading tools such as multiple time frames, candlestick options, and technical indicators like Fibonacci levels and Bollinger bands. It supports over 80 digital currencies and has a standard market maker-taker fee model to encourage liquidity .

Despite these features, there are several red flags associated with LiveBit. The exchange has been flagged for not allowing user registration through conventional means, which is a tactic used by fraudulent brokers to handpick their clientele. Furthermore, the withdrawal process is reported to be slow, taking up to 10 days, and there are clauses that prohibit clients from withdrawing their profits, which raises significant concerns about the safety of funds .

It is also worth noting that LiveBit does not offer support for fiat currencies, and all deposits and withdrawals are conducted in digital currencies, primarily Bitcoin. The exchange claims to provide two-factor authentication and email confirmation for withdrawals to ensure security .