Liqui.io shuts down

[gentlemand]

Check the statement here - https://liqui.io

"Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services."

30 days to withdraw through the website, then you have to do it through a freshdesk support ticket.

I seem to remember reading they changed to asking monthly subscription fees or something. That wasn't going to work no matter what.

How many more exchanges will croak?

[NeuroticFish]

How many more exchanges will croak?

It all depends how long the crypto winter will last. Because it's getting from bad to worse and the altcoin exchanges are doing much worse than the Bitcoin focused ones.
A lot of exchanges came to life in the last ~2 years, and I think that it was a good thing, but I guess that Liqui is not the only one in difficulty.

[LeGaulois]

That's a question I've been asking myself for some time. It is the crisis for the crypto exchanges too, there must be some that have reduced staff, (even Coinbase I am sure) or at the worst will close as we go along. It's like Darwin's theory  , with the natural selection, those who are able to adapt to the market will remain, the others will be forgotten

[gentlemand]

That's a question I've been asking myself for some time. It is the crisis for the crypto exchanges too, there must be some that have reduced staff, (even Coinbase I am sure) or at the worst will close as we go along. It's like Darwin's theory  , with the natural selection, those who are able to adapt to the market will remain, the others will be forgotten

It makes you wonder how messy the next bubble will be in terms of services buckling. It's likely to be that much larger again with that much more demand. When even shitholes like Cryptopia report a million users attempting to sign up everything may seize up.

Very few places are well funded enough to keep enough people on to cope with the peaks. And there's not enough time to recruit them if they understandably send them away when things are dead. You can't conjure up competent employees from thin air.

[enhu]

It think it was 2016 that they were quick to have earned trust from users but well today they are also quick to quit. They were unknown that time but quickly rises among the new exchanges when they added some tokens that weren't in the market.  The bear market are to blame and I think those exchanges that released native tokens used for trade commissions are going to rule.

[vit05]

change in our policies

Does anyone know what change they had made? KYC?

They had an incredible amount of pairs with shitcoins. They added almost any coin and kept it, even at a very low volume. I do not think the business model was really viable. In the bull market, the margins are very large and many businesses only existed because of this.

https://coinmarketcap.com/exchanges/liqui/

[timerland]

Check the statement here - https://liqui.io

"Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services."

30 days to withdraw through the website, then you have to do it through a freshdesk support ticket.

I seem to remember reading they changed to asking monthly subscription fees or something. That wasn't going to work no matter what.

How many more exchanges will croak?

It's not surprising given their lack of support during 2017-2018 which left a lot of users frustrated and looking for other exchanges.

Also, the fact that they offered such high returns on investments could be a reason why they are shutting down. Due to the decreased volumes they could have potentially realized that it would be completely unsustainable to be paying investors such high rates of returns. That's just a guess though and it's unconfirmed.

Either way, I don't think that Liqui ever had that good of a reputation and this news was probably only a matter of time given their lack of competence in customer service. At least they are offering full refunds, which is hopefully legit and not just a promise thrown out there.

There are definitely other exchanges that will struggle in this bear market, in my opinion. The question is which ones will push through and which ones will close their doors.

[squatter]

Check the statement here - https://liqui.io

"Liqui is no longer able to provide liquidity for the Users left. We also do not see any economic point in providing you with our services."

30 days to withdraw through the website, then you have to do it through a freshdesk support ticket.

I seem to remember reading they changed to asking monthly subscription fees or something. That wasn't going to work no matter what.

How many more exchanges will croak?

Without renewed startup funding, several of the smaller altcoin exchanges will probably croak, if not more. There's dozens if not hundreds of crappy little exchanges like Liqui that emerged in 2017. Some will make an orderly exit and others will just exit scam.

They don't just need to survive the crash right now. They need to survive the mass disinterest phase that comes after. Good luck to 'em!

[elda34b]

Last year there's a lot of new exchange coming up too, I wonder how many of them will face the same fate as Liqui (or maybe just disappear). It's probably best to hold on their launch (while their token price dumped of course) before they get rekt. Telegram group is full of angry voice here and there, quite sad to see but it's unavoidable given the market conditions.

If any of them survive, they should be an alternative in the middle of South Korean and Malta exchanges.

[encycrypto]

RIP, they had quite a good GUI. I once imagined that they'll challenge Binance some day. Seems like I was damn wrong.

Another victim of bear market...