In this post we take a look at How To Use Liquid Exchange By Quoine To Buy And Sell Bitcoins . Liquid by Quoine was launced on 4th September, 2019, and since then the exchange has been making the news for all the righ reasons. To defne Liquid, it is a crypto trading platform looking to build a bridge toward global mass adoption.
The liquidity issue in the cryptocurrency market is presently quiet volatile. If an exchange is experiencing high demand for 1 of the digital assets listed on their website, sometimes they’re forced to shut down trading. With the increased attention from the spike in volume, removing the option to trade usually creates negative sentiment as investors speculate while waiting for the dust to settle. With the Liquid platform, if 1 exchange loses liquidity, they’ll be able to borrow from another exchange. Having an interwoven network bridging all major exchanges—and one that began on the right foot legally—mitigates unnecessary volatility in the crypto market while legitimizing the entire industry.
Liquid’s parent company – Quoine, is the first global cryptocurrency exchange to be officially licensed by the Japan Financial Service Authority (FSA) for its Japanese operations. Moreover, Quoine’s existing trading platforms, Qryptos and Quoinex, are among the most advanced in the world. The existing digital currency exchange and trading platforms will merge into the new Liquid portal, providing access to liquidity pools sourced by a unified platform. The platform will be fuelled by a utility token called the QASH token, which grants access to the full suite of services on Liquid, along with discounts and additional benefits.
Quoine aims to provide liquidity to the non-liquid crypto economy. With the launch of Liquid, Quoine is building a solid, global financial utility. An advanced platform the entire crypto economy will use to great advantage; where anyone can participate as users and token holders…
– Mario Gomez Lozada, Co-Founder, President and Chief Product Officer of Quoine.
Trading on the Liquid Exchange
Liquid is presently available to trade only over the web platform. Access to the exchange via mobile applications – Android and iOS have not been launched yet. Although, it is expected to be rolled out soon. To start trading on the platform visit Liquid’s official website.
Before you can start trading, you need to create an account on the website, you can do this by clicking on the “Sign Up”option found on the top left corner of your screen.
The Signing up process is divided into three stages:
- Country of Residence
- Account Details
- Review Your Details
– The first stage is to select you “Country of Residence” from a drop down text that’s available. Choose your country and click on “Next“.
This step involves filling up your credentials. There are two options here; you can choose either of the two based on your requirement:
– Personal Account
– Corporate Account
Now fill in your details such as your Email Address, Password, Legal First Name and Legal Last Name. Once you are done, click “Next“.
This final step is to review all of the information that you have submitted. It is just to cross check if there are any errors that needs to be recitified before procedding. If you have a discount or any referral code, you can enter it under the head “Affiliate Code“, if not you can leave it as blank as it says optional. Next, a couple of documents are presented below, which you may go through to get a better understanding of how the exchange works. Finally, check the boxes found at the bottom and click “Next“.
Carrying on from the previous step, your account has now been registered on the exchange. As a final check on the verification process, you will be sent a mail to the registered email address. Now, open your Inbox to find a mail from Liquid which read “Welcome to Liquid Platform” – Confirm your email address and finish the registration process by clicking on “Confirm Email Address” button!
Congratulations, your account is now completly set up. Upon, Signing In again – you would be notified to set up a 2F authentication. You can choose to set it up then or do it later. Setting it up involves you downloading a 2-factor authentication app and scanning the QR code that is shown on the screen. If you’re unable to scan the QR code you can even enter the six digit code provided by the app. Some of the 2F authentication apps are;
- Google Authenticator
- Duo Mobile
Click on “Enable 2-Factor Authentication” once you are done! With this your account is now secure and protected.
Due to various country-wise policies that govern cryptocurrencies, Liquid requires you to verify your account. For this you need to upload three thing;
- National ID – Your national ID card or passport.
- Selfie (only) – You will only need to upload a selfie photo.
- Proof of Address – A copy of a utility bill, bank statement, etc.,
Without uploading these 3 documents and setting up a 2F Authentication you cannot Deposit / Withdraw on this exchange (Liquid).
Homepage Of the Exchange
The home page of the exchnge is very neat and minimalistic. You can choose from three different themes to view the exchange in – Light, Dark and Blue. The “Biggest Mover” is shown on the top along with a graph to track its growth and fall. The mid section shows a list of all the “Top Movers” and at the bottom you have the “Markets”, here you can view all the latest market prices and the conversion rates.
The top section consists of 5 functions on the left and another 5 on the right.
On the left;
- Lending, &
- ICO Market
On the right:
- Languages (Drop Down)
- Menu (Side Tab)
The exchange is where you can view the live market, all the fluctuation – the highs and lows; everything is shown here. Select the market that you want to view and carry on with the trades. Here you can even place your Buy & Sell orders. A summary of all the prices are shown on the top for easier assesment. Liquid gives you the option to carry out trades in the Spot, Margin and Infinity markets as well. If you have any live orders it will be shown at the bottom end of the screen.
Carry out all your Marginal Trading on this tab. Leverage your position upto 25x and take full advantage of the tightest spreads around. Streamline your trades using the flexibility of funding offered on Liquid, using both Fiat and Crypto. You can also analyze, track, monitor your profit and loss, and follow your short and long positions, all within the Liquid dashboard.
On this page, Liquid offers you the opportunity to leverage upto 100x! With the in demand contract-for-difference (CFD) trading, you can choose to Go long or go short on BTC/USD or BTC/JPY with more freedom. Also get real-time market data with less lag than any other exchanges when you use API to trade. The peak-performance WebSocket layer was built especially for high-frequency trading.
The advantages of using Infinity trading on Liquid are;
- Professional trading interface – A fully customizable Liquid dashboard developed and tailored to your needs, ideal for pro traders who need full control and transparency at all times. Effortlessly craft the perfect workspace and create dynamic multi-screen trading environments.
- Flexible funding options – Liquid’s funding options give you the versatility to fund your trades with crypto or fiat (BTC, ETH, XRP, QASH, USD, JPY, EUR, SGD, AUD). If you need a top up, just use your Visa or Mastercard to deposit EUR in minutes.
- Trade with confidence – Reduce your risk of liquidation with Liquid Infinity’s cross margin. Margin is shared between all your open positions, backed by your entire wallet balance. Spread the margin. Reduce your risk. Trade with confidence.
- Cash out with ease – Lock in your profits whenever you want – with no extra steps. Quickly convert your crypto to fiat on Liquid and safely withdraw straight to your bank account.
With the Lending feature, you can put up a portion of your assets towards loans that are given to margin traders. The loans generate daily interests for as long as the trades are open. The funds are returned to you once the trades to which they are tied are closed. It is a peer-to-peer lending feature of the Services allows eligible users (“Lenders”) to lend Digital Assets and/or Legal Tender to other eligible users (“Borrowers”) for the purpose of Margin Trading, as described in further detail through the Services (“Lending Feature”). A loan made through the Lending Feature is an agreement solely between the Borrower and Lender.
- Borrowers – If you are a Borrower and the value of the Funds in your Liquid Account falls below your Minimum Required Balance then you would thereby authorize Quoine to take control of and liquidate any or all of your positions and Funds in your Liquid Account to repay the outstanding principal and accrued interest on loans you have obtained from Lenders. If after, Quoine liquidates your positions and Funds, your Liquid account still contains insufficient Funds to settle such debts to Lenders, you will be responsible for any additional Funds you owe to Lenders.
- Lenders – If you are a Lender, you risk losing the principal amount of any loans that you make through the Lending Feature if the Borrower defaults on the loan and liquidation of the Borrower’s Liquid Account fails to cover the Borrower’s debt to you.
Here you can buy ICO tokens instantly with a verified Liquid account and get delivered instantly via Liquid’s network. You will also be notified of any Running, Private Sale, Upcoming or Closed sales of ICO on the network.
Depositing and Withdrawing Crypto on Liquid
To deposit or withdraw any crypto token on Liquid, click on the “Wallets” option. A new page will open up showing the summary of all your transactions along with the option of “Deposit” and “Withdraw” against every coin.
Choose the coin that you want to deposit > Click on the “Deposit” button. Now copy the BTC wallet address shown and paste in on the exchange from where you are withdrawing the coins. You can also choose to scan the QR code shown to see the address. Once you completed the transaction, it will take a few minutes to reflect on the Liquid Exchange.
Choose the coin that you want to deposit > Click on the “Withdraw” button. To withdraw, paste the address of the wallet that you to withdraw the coins into and click on “Confirm”. Within a few minutes of the transaction, the coins will be updated in your wallet. The network fees charged for every transaction can be seen HERE.
Hope you have learnt How To Use Liquid Exchange By Quoine To Buy And Sell Bitcoins. Do post your views and queries in the comments section below and we will back to you, with solutions for the same!