The LCX Exchange Is a Regulated Trading Venue Offering a Range of Digital Currencies. LCX aims to build the new infrastructure for digital finance, focusing on all aspects of compliance and regulation. Investing to build AML and KYC technology solutions at the institutional and consumer level, including on-chain analytics and surveillance for all crypto deposits and withdrawals. LCX is continuously engaging with policy makers, regulators and financial institutions and will routinely participate in financial and security audits, as well as regulatory compliance reviews. In 2020 LCX secured approvals of 8 blockchain registrations with the registration Nr 288159. Allowing LCX to offer the broadest scope of blockchain services – alongside our sophisticated crypto compliance suite.
What is LCX?
Liechtenstein Cryptoassets Exchange (LCX) stands as a regulated, reliable, and compliant trading platform that facilitates the buying, selling, transfer, and storage of digital currencies. With a commitment to merging traditional monetary systems with cutting-edge technology, LCX aims to provide a secure and scalable environment for cryptocurrency trading.
Key Features
1. Tokenized Assets and Trading Tools
LCX Exchange offers advanced trading tools, tokenized assets, utility tokens, and security tokens. The platform supports various blockchain projects, showcasing a dedication to the growth of cryptocurrency and blockchain technology.
2. Joint Venture Partnership with Binance
LCX has established a joint venture partnership with Binance, a significant collaboration in the crypto space that enhances its credibility and market presence.
3. Native Token: LCX Token
The platform has its native token, the LCX token, which operates on the Ethereum blockchain. Trading fees for LCX tokens are notably lower, at 0.15%, compared to the regular trading fee of 0.30%.
Trading and Fees
1. Spot Exchange
The spot exchange on LCX allows users to trade commodities, securities, and digital currencies. It provides a user-friendly interface, top-notch security, and a variety of features, including a news desk and alerts.
2. LCX DeFi Terminal (DEX)
LCX Terminal 2.0, also known as Fire Salamander, is a decentralized exchange (DEX) aggregator developed by LCX. It offers features such as price comparison, limit orders, live charts, DeFi analytics, and real-time market data.
3. NFT Market for Tokenized Diamonds
LCX Exchange includes Tiamonds, an NFT market specifically for tokenized diamonds. This adds a unique dimension to the platform by incorporating non-fungible tokens in the form of tokenized diamonds.
Deposits and Withdrawals
1. Supported Currencies
LCX Exchange supports both fiat and cryptocurrency deposits. However, for fiat deposits, only the Euro (EUR) is accepted.
2. Deposit Process
Users need to link a bank account to their profile before depositing fiat currency. The required information includes the bank name, IBAN, account name, and address. Deposits usually take 1-3 working days.
3. Withdrawal Fee
Withdrawals are processed into the registered bank account with a fee of 20 EUR.
KYC Requirements
LCX Exchange implements a Know Your Customer (KYC) process for real accounts. Users must undergo identity verification by submitting an ID document, a selfie, and proof of address.
Supported and Restricted Countries
LCX Exchange prohibits residents of certain countries, such as Cuba, North Korea, Iran, and others, from opening accounts due to compliance requirements. A comprehensive list of restricted countries is provided by LCX.com.
In summary, LCX Exchange positions itself as a forward-thinking, regulated platform with a focus on security, compliance, and innovative features in the rapidly evolving cryptocurrency landscape.
What are the trading fees on LCX?
Regular trading fees:
maker fee -> 0.30%
taker fee -> 0.30%.
Does LCX offer leverage trading?
LCX Exchange does not currently offer margin trading or leverage options.
Is LCX safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
