A Complete Beginner’s Guide to the LCX Exchange: Start Trading Crypto with Confidence

LCX exchange is a regulated trading platform for crypto assets. Powered by the Liechtenstein Protocol, LCX is designed to satisfy the strict requirements of institutional investors: custody, compliance, stability, transparency and auditability. LCX has 8 Blockchain Registration from Financial Market Authority Liechtenstein. It’s a regulated exchange which is unique in itself as you won’t find regulated crypto exchanges so easily. 

The LCX Exchange is build on scalable infrastructure, with a high performance matching engine and a secure backend. LCX’s platform offers world-class stability and service quality tailored to the needs of professional investors. It incorporate the LCX custody solution, analytical tools and a variety of reporting capabilities. 

How to Register on LCX Exchange?

• Go to exchange.lcx.com and click [Register].

• On the Registration page, enter your details such as First name, last name, email address, create a password for your account, confirm the password, and enter the Referral ID (if any). Then, read and agree to the Terms of Service and you’re the beneficial owner of the account, solve the captcha and click [Register Account].

•  On successful registration, the system will send a verification email. Check your inbox for an email from LCX, the email will have a Verify Email button, click on verify email to confirm your email address.

• Note: You won’t be able to login back without email verification, make sure to verify your email first before attempting to Sign In.
• You’ll be redirected to the login page, please fill in your email address and password to Log In.
• Congratulations, you have successfully registered on the LCX exchange.
• For enhanced account security we strongly recommend setting up 2FA on your exchange account. Enable the Anti-Phishing option and change your password after every 90 days.  

How to complete verification on LCX Exchange?

User Identity Verification is a crucial step in making an account on LCX Platform. Follow the below mentioned steps to complete your user verification on LCX Exchange.

1. Go to your Account and open the main page.

2. Go to my profile.

3. Click on the Upgrade tab next to the Profile Level option.

4. A page will appear where you need to click Complete Profile

5. Now enter the details as requested on the page. It is mandatory to fill all the details that are marked with ‘*’. Make sure that the information you upload matches your documents.

Get more details on what documents are required for account verification

6. Once you have entered your details, click on Submit.

7. Now Click on Verify my account.

8. You’ll be directed to the account verification page again.

9. Click on Get verified.

10. Check the information presented on screen. Then click continue.

11. You’ll be directed to the next page. Select the identity proof that you intend to upload. You can upload Passport or your National Identity Card.

Note: In case of passport, you are only required to upload the front page of your passport. In the case of National Identity, you are required to upload both; the front and the back page of your identity proof. Also, please upload a document in English language or highlight your NAME, ADDRESS, ISSUE DATE and TYPE OF DOCUMENT in the image.

Note: We accept Proof of Address in other languages so long as the name and address are written in English.

12.  PLEASE USE YOUR WEBCAM TO CLICK A PICTURE OF YOUR IDENTITY PROOF.
Note: Make sure that you select the correct ID Type for the proof you are providing.

13. Now click on Submit and then on continue.

14. You’ll be directed to the selfie verification page.

15. You are required to click a selfie using your webcam or the camera of your device. Make sure that the lighting is abundant and your face is clearly visible in the picture. Also, your face should be in the center of the frame.

16. Now click on submit and then click on continue.

17. You are now required to upload an address proof. For this, you can upload the image of a utility bill (electricity bill, water bill, internet bill, etc.), bank statement or any government issued letter verifying your address.

Note: The document should not be more than 3 months old. Make sure that the image is clear with every detail clearly visible.

18. Click on submit.

19. The documents will go for verification to our KYC Analysts. Your account will be verified within 24-48 hours.

How to Deposit Funds on an LCX account?

To deposit funds to your LCX account, you are required to follow the below-mentioned steps:

1. Login to your LCX account.
2. Visit LCX Wallet > Deposit
3. Select the digital asset from the dropdown list that you intend to deposit.
4. Click on the deposit button.
5. Send only the selected digital asset to this deposit address. Confirm by clicking “I understand.”
6. Copy the wallet address.
7. Send funds to this wallet address.
8. You’ll receive an email notification confirming your deposit.

The entire deposit history and status of your deposit can be seen here.

How to Withdraw Funds from an LCX Account?

To withdraw funds, you are required to follow the below-mentioned steps:

1. Login to your LCX account.
2. Visit LCX Wallet > Withdraw
3. Select the digital asset from the dropdown that you intend to withdraw.
4. Click on the withdraw button.
5. Enter the withdrawal address, amount, and 2FA token. Once you enter the details, you can see the details like Network, Current balance, transaction fee, and the amount you’ll get.
6. Confirm details.
7. You’ll receive an email notification confirming your withdrawal.

The complete withdrawal history and status of your withdrawal can be seen here.

How to make the First Trade on LCX Exchange?

To start your trading journey on the LCX exchange, you are required to follow the below-mentioned steps:

1. Login into your LCX account.

If you’re not already registered on the exchange, here is the step-by-step guide on how to register an account on LCX.

2. Complete Account Verification

To start trading, you must have a completely verified account. Follow these steps to complete account verification. 

3. To start trading, you must have some balance in your exchange wallet. To deposit fiat (EURO) or any cryptocurrency follow these steps mentioned here.

4. Go to trade: https://exchange.lcx.com/trade

5. Select a trading pair. There are a variety of trading pairs listed on LCX. If you have Bitcoin in your exchange wallet, you can only deal with bitcoin.

6. Select the kind of trade you desire to make. LCX offers two types of trades:

Market Orders – Market orders allow users to trade their coins at the current market price. It is the kind of trade that is most simple and fastest.

Limit Orders –  Limit orders allow users to trade their coins at a specified price, i.e., at the price you’re willing to trade.

How to place a Market order:

Select the Market mode. Enter the amount or number of tokens/coins you want to buy/sell and hit the buy/sell option. Your trade will execute at the market price instantly.

How to place a Limit order:

Select the Limit mode. Enter the bid amount, the number of tokens/coins you want to buy/sell and hit the buy/sell option. Your order will be placed and will only execute once a buyer or seller is ready to trade at your bid amount.

Other Options

In the Order book, you can check the price of the recently placed orders for a particular crypto asset. Order book contains the list of all recent buy and sell orders.

In the Trade history, you can track all the trades executed with details including price, quantity, and timestamp.

You can track your orders in the open orders, order history, and order execution. These three will help you track down the details of your trades.

Open orders contain the list of all orders placed by you and are still open waiting for the buyer/seller.

Order history includes details of all the orders open and closed.

Order execution contains details of only executed/closed orders.

Trading Fees:

	Maker	Taker
Fees paid with $LCX Token:	0.15%	0.15%
Regular trading fees:	0.30%	0.30%