LCX is a regulated digital assets exchange based in Liechtenstein which holds 8 registrations with the Financial Market Authority Liechtenstein. LCX is a FinTech company with a complete ecosystem of digital asset products that will revolutionize several parts of the financial structure we have today. In this review, I will focus on the exchange part of LCX and briefly go over some of the other components that this industry leader is built upon. Since its launch in 2017, the LCX exchange has grown exponentially and is now the host to over 150,000 cryptocurrency investors and traders. For those of our readers that have been looking for something real and authentic in the crypto space, stick around and read the full story of the LCX exchange and find out all the features and benefits it offers.
• Fully compliant and regulated digital asset exchange
• Professional support with an instant answer through live chat
• Offers great utility for short-term traders and passive investors
• The platform can be a little bit overwhelming at a first glance
• The only fiat gateway right now is through bank transfers or third-party websites
• LCX has no option to short-sell digital assets
In this section of our LCX review we have highlighted 6 special features that sets them apart when compared to other platforms.
LCX is a FinTech company that is growing very fast in a competitive market and has been able to break ground in a transformative way by offering the issuance of tokenization of assets, utility, and security token offerings. The operating company of the platform is called LCX AG and has the main office located at Herrengasse 6, 9490 Vaduz, Liechtenstein.
The LCX exchange is a fully regulated and compliant digital asset exchange based in Liechtenstein where it has grown to become more than just a medium of transaction for cryptocurrencies. A common goal of the team behind LCX has always been to connect the traditional monetary system and the new blockchain technology.
The company is shaping the landscape for digital finance and has created several utility platforms along with the exchange such as the LCX Terminal, LCX DeFi Terminal, Token Sale Platform, and Tiamonds NFT(tokenized diamonds). The company has also been granted the approval, by law, to issue and manage the tokenization of assets so that all users of the platform can issue their own tokens, all in compliance with Liechtenstein government regulations.
Why use LCX
There are plenty of use cases for both long-term investors and short-term active traders throughout the whole ecosystem. First of all, let’s start by saying that the overall feeling of the platform is great and it gives me a sense of trust. Secondly, it is easy to navigate, if you are new to crypto you don’t have to worry about getting lost even if there is a lot of information given from the home page.
Select your niche and get started, there are several video guides to watch that explain many moving parts in great detail. However, if you are a crypto investor interested in swapping coins you should try out the DEX, for sure. Here you will find an updated and innovative DeFi terminal that goes beyond many of the current competitors by giving you access to standard live charts and limit orders. If your game is active trading, I suggest that you pay a visit to the Terminal and check out the options you have for connecting several accounts and exchanges on one interface, I promise that you will find a lot of utility here.
On the exchange, you will find several altcoin trading pairs at very favorable rates and a user interface that is built for beginners. Through the exchange platform, you have access to market orders and limit orders which gives you the option to enter and exit the market through one click only or set your preferred enter or exit prices beforehand.
Overall, LCX gives you access to great digital asset trading solutions in a secure environment that beats many of its competitors, including some of the largest exchanges in the world. So, if you are tired of pump and dump schemes and non-trustworthy exchange you will find undoubtedly like the LCX ecosystem where security and compliance play a huge role.
Trading on LCX
When trading on LCX you can choose to trade coins with the LCX token and get a 50% reduced trading fee. The standard maker and taker fee is 0.30% but when trading with the native token you will only pay 0.15% per trade.
Trading can be done in three ways on the platform, through the exchange, on the DEX, and in the Terminal. The difference between the exchange and the DEX is the obvious decentralization and direct access through your wallet on DEX with less focus on active trading. The exchange on the other hand brings more utility and options when it comes to actually making trades in your selected market. On the exchange, you get access to a full order book, more advanced order selection, and a full set of technical tools to help you make better decisions.
The Terminal is another game in itself, here you are able to broaden the field and access other exchanges through the same interface. If you have accounts on other exchanges you can trade them from the Terminal and you no longer have to log in to 3 or 4 accounts to access your assets.
How to use LCX
In a nutshell, LCX is very easy to use, even for beginners. I recommend that you start by signing up and entering the main dashboard. From here you will be able to select between these options:
- Tiamonds NFT
It all depends on what you are trying to achieve when joining the ecosystem and if you plan on staying on the platform I highly recommend you purchase at least some of the LCX tokens to minimize the costs of doing business. This will make things cheaper and more streamlined as LCX is the building block of all moving parts.
LCX Category Rating
What sets LCX apart
The total integration of all trading features combined with complete legal compliance of government regulations is what sets LCX apart for me. The fact that the team keeps building and improving the existing platform and going even further to give users a solid and secure base to stand on in the FinTech world shows that LCX is a company and business with great values and ambitions.
Things to improve on
In the world of digital finance, there is a lot you can ask for but very few of the platforms we review manage to nail so many aspects of trust and usability as LCX does. At the moment of writing this review, I can’t find anything negative to pinpoint. Usually, I complain about the lack of a live chat but I can’t do that because after 10 seconds of clicking the live chat icon I was in a conversation with Arzu who gave me a 10/10 service. I want to recommend all our traders and investors to try LCX to see for themselves and not only take my word that it is a great hub for digital asset management.
LCX Trading Fees
About the special features on LCX
There is a lot of utility on the LCX platform and exchange that most of you have never seen before. I must say it took me a while to drill down on all the features to be able to present them in this review. The issue was that I wanted to include every little detail due to its great functionality but I realized that I had to stick to the core features on the platform to make any sense at all. I would say that this is a good problem to have for any reviewer.
Below I have listed some of the most interesting extra features of the LCX ecosystem and not only tools from the exchange. In this part of the review, you will learn more about how different aspects of the LCX platform work and how you can use these features to your own benefit. You will be surprised to see how much effort the team has put into creating a whole ecosystem of DeFi products for all their members.
The native token of the platform is the LCX token and it works as an incentive mechanism for all stakeholders of the token. It can be used to pay all fees on the platform such as terminal subscription fees, custodian vault fees, exchange transaction fees, and fiat-to-crypto exchange fees. If you are a member of the LCX community it makes a lot of sense to hold some LCX since everything is fueled by this token.
LCX DeFi Terminal / DEX (Decentralized Exchange)
DeFi Terminal is a DEX aggregator like anything you have ever seen before. It combines charting, limit orders, volume-based top lists, and data of all major decentralized exchanges all in one user-friendly interface. If your game is swapping cryptocurrencies directly from your wallet, you will enjoy this part of the platform as it is revolutionizing the way you transact digital assets.
The mobile app lets you buy, sell, and exchange digital assets on your smartphone. Several of the key features from the crypto exchange have been developed on the mobile version of LCX where you can send and store cryptocurrency on the app with the same security level as the standard terminal. The KYC process is very streamlined and quicker than many others I’ve seen so far. If you like what you see in regards to the LCX desktop and web version you will also enjoy the mobile version as it comes with all the necessary tools you need to check your crypto portfolio and enter or exit the market on the go when you are outside your home or your office.
The new legal framework is called the Liechtenstein Protocol which is also known as the Blockchain Act. This protocol is the first step towards creating a decentralized compliance protocol for security-tokens, something that the cryptocurrency and blockchain space is currently lacking. We could see this as the new security token standard where regulatory requirements are introduced on a technology and token level. One thing that has not been possible before and what the protocol is trying to achieve is to enable full compliance, tokenization, and on-chain KYC solutions.
The STO launchpad is a tokenization platform where all users can sign up and invest in new tokenized securities. The platform is streamlined and customized for all users and it is fully compliant with a seamless KYC and investor onboarding tool that supports over 230 countries, including the United States.
The prices that are denominated in USD and EUR on the platform are all aggregated from the most trusted and respected crypto exchanges in the world. Through crypto reference prices, LCX can deliver credible prices to all customers on the platform. The price oracle helped receive regulatory approval as a Trusted Technology Price Service Provider in 2020, something that many platform owners dream about acquiring.
The Terminal is a multi-exchange trading software that enables you to get access to some of the most popular crypto exchanges on the market through one single interface. Leverage trading signals, alerts, automated trading, social analytics with full portfolio management across all exchanges. Up to 16 of the biggest digital assets exchanges on the market are available through the Terminal and all you need to do is connect your LCX account to an existing exchange and start trading.
Being a trader myself, the smart order system on LCX calls my attention. It is designed to give traders the best prices possible when trading the markets by comparing prices on several exchanges within the crypto market. From the interface, you can see all the different exchanges you have connected and all your active crypto balances on each exchange. From here you can choose which market you want to trade on, what wallet and exchange you want to use, and lastly, after you have submitted your order you will see how much you saved on the trade compared to a regular trade in a naked order book. This is a great way of optimizing your bid and ask price and getting the best value from your trades.
Inside the trading Terminal, you can access social signals to get a better picture of the coins you are looking to trade. Every cryptocurrency is given a social score, a galaxy rank, and an alt rank. You can use the social signals to get an idea of how the general public feels about a certain token and see data such as bullish sentiment, bearish sentiment, shared links about the project, and Twitter spam. All of these data points can give you an indication of how popular or how trending a cryptocurrency is at the moment. This is new trading technology that I recommend all our traders to try out.
Live Token Sale
This is a new feature that lets you participate in the latest ICO’s on the market. You can access the live token sale from the main dashboard when you log in to your LCX account and deposit money in any of the live ICO’s. This is a great way to get a head start when new crypto projects get released to the market.
Through the Terminal, you can set price alerts that are based on several different data points. Use trading alerts that are based on price change, price percentage change (%), profit/loss, frequency, volume, recent high or low. This tool can be used in combination with both investing and short-term trading to get notified when there your favorite coin is on the move.
Our own experience with LCX
LCX Funding Methods
LCX Withdrawal Fee
Is LCX regulated?
Yes, LCX is regulated in Liechtenstein by The Financial Market Authority of Liechtenstein (FMA) and received 8 blockchain registrations to be able to offer the biggest suite of services in terms of digital asset trading and fintech services. LCX has registration number 288159. Here is a description of all the regulatory achievements by the LCX ecosystem copied from their website.
Competent Supervising Authority:
Liechtenstein Financial Market Authority (FMA), Landstrasse 109, P.O. Box 279, 9490 Vaduz, Liechtenstein, www.fma-li.li
Regulatory Approvals and Compliance:
In 2018 LCX AG has been granted a Business License of the Liechtenstein Ministry of Economic Affairs to conduct its business in Liechtenstein (Gewerbebewilligung).
In 2020 LCX AG has gained regulatory approval to operate the following services under Registration Nr. 288159
– TT Price Service Provider
– TT Identity Service Providers
– Token Generator
– Token Issuer on its own
– TT Exchange Service Provider
– TT Token Depositary
– TT Key Depositary
Is LCX trustworthy and legitimate?
It is safe to say that the LCX company goes well beyond trustworthiness and legitimacy when it comes to legal compliance and regulations. When reviewing the platform I could not find one single bad comment or a negative review other than some congested transactions which happen all the time to other big exchanges. If you want security and trust, choose LCX, that’s my final word.
Frequently asked questions
Read what other investors ask about LCX. Find answers without searching the web.
The exchange is one part of the ecosystem driven by the LCX branch. From here you can buy, sell, and trade all the coins listed at very favorable rates.
The Terminal is an advanced digital asset trading venue that enables you to connect several major cryptocurrency exchanges from one interface. The Terminal is equipped with many advanced tools such as social signals, price alerts, smart orders, market news, reports, and it has its own trading competition.
Yes, traders and investors from the United States are welcome to use the exchange.
If you wish to withdraw funds from your crypto wallet, simply click Wallet in the main menu, then select Withdraw, and choose the coin you wish to withdraw. From here, follow the instructions and you should have received your coin within 5-60 minutes depending on blockchain congestion.
LCX is a FinTech company based in Liechtenstein at Herrengasse 6, 9490 Vaduz.
As of writing this review, the LCX coin is available on Coinbase, Liquid, Uniswap, Probit Global, Bitrue, VinDAX, LATOKEN, Hotbit, Fatbtc, and of course the LCX exchange itself.
It is the native cryptocurrency of the platform and fuels many of the moving parts. Use the token to reduce your overall costs of doing business when you become a member.
Yes, the app is an extension of the desktop and web versions and brings many of the advanced trading tools to your smartphone in a very sleek design and easy-to-use interface.
It is an ERC-20 built on the Ethereum blockchain.