LCX Crypto Review – How Does This Cypto Exchange Compare?

About LCX Crypto

LCX (Liechtenstein Cryptoassets Exchange) is a fintech company focused on the tokenization of assets, offerings for utility and security tokens, and advanced crypto trading tools.

The LCX exchange is a regulated trading venue offering a range of digital currencies through its digital asset exchange or decentralized exchange (DEX) aggregator.

In addition to its crypto exchange and advanced trading platform, LCX offers a marketplace of non-fungible tokens backed by diamonds and an advanced trading terminal for connecting other centralized exchanges.

If you want to learn all about the LCX exchange, its services, and whether or not they’re right for you, stick around for this in-depth LCX review.

LCX Exchange

The LCX cryptocurrency exchange supports close to 100 different markets but only 33 different digital assets.

While it supports most major digital currencies like BTC, ETH, ADA, etc., it won’t be ideal for altcoin enthusiasts and certainly falls short of most major cryptocurrency exchanges.

As for LCX’s trading platform and interface, it is pretty standard. The charts are powered by TradingView, it includes panels for the order book and trade history, and it supports limit orders, so it has most of the tools for active traders.

The LCX exchange may not have any bells and whistles, but it should still serve as a solid trading platform provided it has the markets you trade and you are fine with only market and limit orders.

LCX Token

Like most crypto exchanges these days, LCX has an exchange-based utility token that’s used to pay all LCX exchange fees.

Aside from the 50% discount traders will receive when paying with the LCX tokens, LCX token holders will also get full access, including using the LCX second layer DeFi protocol to enable limit orders on Uniswap and various discounts for other services when paid for in LCX.

DEX Aggregator

The LCX DEX is supported by Uniswap and functions the same way with a slightly different interface.

All users need to do to trade is connect a crypto wallet (no KYC required).

While the LCX interface is arguably an improvement over Uniswap’s, especially given it includes price charts, the charts and the markets struggle to load, which makes it nearly impossible to use.

However, the chart only supports the 24h, 1W, and 1M timeframes, so it won’t necessarily be ideal for active traders.

Notwithstanding those concerns, it’s a beautifully designed DEX and supports both limit and market orders, which is surprisingly rare in the DEX space.

The crypto trading fees are also 0.3%, just like Uniswap, but LCX also includes 0.05% and 1% options possibly based on liquidity or slippage, though it isn’t explicitly stated.

Diamond-Backed NFTs

The Tiamond section of the LCX platform is by far the most unique feature and is something you won’t really find anywhere else in the crypto exchange market.

Because the diamonds are connected to NFTs, the LCX platform allows users to trade them like any other digital asset simply by connecting a wallet.

When trading the Tiamonds, you can filter by cut (good to excellent), by clarity (SI1 to VVS2), by carat (0.00ct to 1.00ct), by color (J to E), and, of course, by price.

There are 100 different NFTs to choose from, which can be sold as a fixed sale or auction.

All the NFTs (diamonds) are tokenized through Ethereum, so trading them after purchase will be very similar to trading any other NFT.

Owners of Tiamonds will also receive LCX tokens called TIA (a deflationary cryptocurrency LCX launched with Tiamonds) as rewards over time through its “Own to Earn” model.

LCX Terminal

Although LCX has its own exchange, it also allows users to link preexisting crypto exchange accounts in a completely separate trading terminal.

The crypto exchanges LCX supports include Binance, Coinbase, Kraken, KuCoin, Bitfinex, Gemini, Huobi, and a handful more.

The LCX terminal is surprisingly far more advanced than its exchange, with more order types, smart orders to get the best prices across exchanges, social signals, and crypto reports for each exchange.

Similar to its DEX, the LCX terminal has trouble loading certain features, but it remains an incredibly advanced trading interface that allows traders to easily navigate between different exchange accounts.

How LCX Compares to Competitors

In terms of its crypto exchange, LCX is comparable to just about every run-of-the-mill crypto exchange out there. It’s about as standard as it gets, so drafting comparisons is probably unnecessary.

When it comes to its DEX, the obvious comparison is Uniswap, as it runs through and is supported by Uniswap. As previously mentioned, the LCX interface is a significant improvement, but it doesn’t fully load, so any DEX would be an improvement.

If the bugs are fixed, and the LCX DEX is firing on all cylinders, it would be a significant improvement over Uniswap and even rival other DEX competitors like 1inch or ShapeShift, though the latter two are more suited for traders.

As for LCX’s Tiamonds, no competitor comes to mind, which is huge and why LCX is at least worth remembering if not just for that reason.

And finally, LCX’s multi-exchange terminal is best compared to Cryptowatch. There are other multi-exchange platforms like Shrimpy or BitUniverse, but most are either paid services or focused on trading bots, so the comparison isn’t ideal.

While LCX and Cryptowatch both support plenty of exchanges, the LCX interface is much better and overall easier to use. Truthfully, you can’t go wrong with LCX’s free multi-exchange terminal.

However, if you are willing to pay, Shrimpy is the only platform rivaling the LCX interface, but it is a paid service (though it includes other features like automatic rebalancing).

All in all, LCX is easy to overlook as an exchange but steals the show with diamonds and its free multi-exchange interface.

Conclusion: LCX Crypto Review

After carefully walking through all of its services for this LCX review, we believe LCX is an average exchange but has several unique features that make it worth considering.

First, its diamond-backed NFTs are incredibly unique. While most traders may not be interested in buying or trading diamonds, LCX is one of the only places that’s even a possibility, so it serves a niche role worth remembering.

The next feature that makes LCX stand out is its terminal, where traders can link multiple exchange accounts.

Other platforms have similar functionality, but LCX is a little unique with its social signals and crypto reports. 

It might not be the best multi-exchange platform, but it’s still very good. The LCX terminal is also still in beta, so additional features and improvements could be added in the future.

As for the other services like the LCX exchange and DEX, they aren’t inadequate services, but they are easily forgotten in a very competitive crypto market.

The exchange is perhaps above average, but it lacks the order types and any x-factor that would steer traders away from other, more advanced platforms.

The DEX is also above average and, short of its loading problems, would be one of the better DEX options. 

Hopefully, the bugs will be fixed in the future because it really is a beautifully designed interface, but it’s simply unusable until then. 

In summary, LCX is a good platform with relatively average exchanges, a very unique diamond-backed NFT marketplace, and a multi-exchange terminal that is certainly worth checking out.

LCX is by no means the best crypto platform, but it has several niche products/services and seems to be improving with time.

We hope you enjoyed this LCX review.