LBank Exchange is a world-class platform for all your various trading activities. This Lbank review is an up-to-date, detailed analysis of LBank exchange, containing everything you need to know about LBank and whether it’s the right exchange for you.
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LBank Exchange review
LBank is a centralized exchange (CEX) platform with its headquarters based in Hong Kong. It was founded in 2015 and has offices in Canada, the British Virgin Islands, the United States, Australia, and Australia.
The ecosystem was co-founded by Allen Wei and Eric He. Formerly an IT developer, Allen Wei is now the CEO of LBank. After reading the white paper on Bitcoin and its blockchain, he was motivated to start his project.
Using more than 20 different payment methods, the platform enables users to buy and sell popular crypto assets like Bitcoin (BTC) and Ethereum (ETH) in over 149 different fiat currencies. The organization holds licenses from the Canadian money services industry, the Australian Transaction Reports, the Analysis Center, and the National Futures Association.
Additionally, it provides experienced customers with advanced trading tools like trading indicators and APIs. Along with offering cold and hot storage wallets for fund security, it also enables users to use two-factor authentication when logging in.
The platform deserves praise for its low withdrawal and trading fees. However, the LBank exchange’s ability is demonstrated by its survival in the cryptocurrency market for more than 5 years without experiencing a security breach.
LBank Exchange review: What is LBank exchange?
Customers from all over the world can trade a variety of digital assets on the LBank cryptocurrency exchange using crypto-to-crypto trading pairs. The exchange was established in 2015 with the intention of offering users from all over the world specialized cryptocurrency asset management services.
The exchange is owned and operated by a Chinese company known as Superchains Network Technology Co., Ltd. Additionally, due to its location, the exchange is unable to accept users from all geographical areas.
Nevertheless, it continues to be accessible in more than 200 nations and has more than 7 million users. It is perfect for beginners thanks to features like quick account creation, a mobile app, and educational materials.
LBank Exchange review: Pros and Cons of LBank
- Great user reviews: LBank exchange has accumulated a pool of great user reviews and ratings on its mobile application and exchange due to its top-notch services provided to meet the needs of its users.
- Supports Huge numbers of crypto: The centralized cryptocurrency exchange having a user base of over 7m users supports trading on over 450 cryptocurrencies and over 800 pairs as well as over 149 Fiat currencies with the lowest fees ever.
- Beginner friendly: LBank has a user-friendly app built with beginners and experienced traders in mind. The exchange is designed with easy-navigation buttons and the interface makes it simple for both beginners and experienced users to interact and carry out their daily trading needs on their own.
- Educational resources: LBank prioritizes user education and has dedicated the ‘LBank Academy strictly to teaching its community and prospective crypto adopters about the space in simplified written and video forms. The knowledge gained from utilizing all the resources available can help understand the market and help you make great decisions when you want to buy cryptos.
- An array of payment methods: LBank exchange has integrated over 20 payment methods, to help facilitate payments for its large user base including MasterCard, Visa, Google Play, ApplePay, Bank Transfer, etc.
- Not a regulated platform: Non-regulated exchanges come with certain disadvantages and insecurities that users transacting on such exchanges should be aware of.
LBank Exchange review: Services Offered by LBank Exchange
LBank Exchange has a pool of services for its users. Let’s take a peek at some of LBank’s exchange services:
Multiple Trading Platforms
LBank also has multiple device compatibility. Users can access it on a desktop, and it also has a mobile app for quality trading services.
The platform has advanced indicators like CCI, RSI, KDJ, and MACD. In addition, seasoned users can also avail themselves of its premium trading window for an advanced trading experience.
LBank has never had any reported hackings or loss of funds as it implements the latest security features such as SSL encrypted servers, two-factor authentication for logins and transactions, and both cold and hot wallet storage of user funds.
Wallets and Orders
Options like Spot, Quantitative, Finance, and Futures Wallet are also available for veteran traders. Moreover, customers can use grid, futures, and spot orders.
Access new coin/token projects early, giving you the opportunity to get ahead of your peers. Register to get hands-on with new coins and tokens way before they become available on any other exchange.
LBank Supported Cryptocurrencies
The centralized cryptocurrency exchange supports over 450 cryptocurrencies. The most notable crypto assets on the platform are:
LBank Supported Fiat Currencies
LBank Exchange currently supports over 149 fiat currencies, including
- AED and more!
LBank Exchange review: How to use LBank
You must first sign up for an LBank account in order to use LBank. It requires little information for users to create on the website and the app. You can complete the KYC process after creating an account to further enhance account security.
Users will then need to select an appropriate deposit method. Users can quickly deposit money using a bank wire transfer, e-wallets, MasterCard, digital assets, and other options. After making a deposit, clients can trade more than 500 cryptocurrencies. Users only need to visit the website to complete the process.
On the homepage, there is a buying option with a variety of fiat currency choices. Customers need only tap the “Buy Now” option after entering the desired currency for the amount. Customers can now choose the payment option even if their account is empty of funds. Customers will receive a confirmation once the transaction has been completed, and it will start right away.
To sign up and begin exploring all of LBank, visit LBank and click on “Sign up.”
Now input your email, and password, check the box, and click on “Sign up.”
Note: The password must be 8-20 digits long, including letters, numbers, and special characters.
A 6-digit verified code will be sent to your email. Go to your email, copy the code, and input it in the required field.
Now you can begin exploring all of LBank.
On the homepage, hover over the person icon at the top right corner of the page and click on “Security.”
Scroll down to KYC and click on “Verification.”
On the KYC page, fill in your details on the form, select your ID type, input your ID number, and click on “Next.”
Now you will need to upload a clear picture of the front and back of your selected ID type and also take a clear picture of yourself, and then click on “Submit.”
Note: Now the LBank team will review your submissions and get back to you when they’re done. Your verification request will be processed within 24 hours. Please be patient as the LBank team verifies your identity.
The live LBK price today is $0.009454 USD, with a 24-hour LBank exchange trading volume of $767,539,240.84 USD. LBK is down 1.89% in the last 24 hours.
LBank exchange ranking according to coinmarketcap is number 17, and LBK ranking is #2796. LBank token (LBK) has a maximum supply of 2,000,000,000 LBK coins.
If you would like to know where to buy LBK at the current rate, the top cryptocurrency exchanges for trading in LBK stock are currently Gate.io and LBank.
LBank Exchange has a mobile app built for both beginners and professionals alike. It is a simple-to-use application with an intelligent and intuitive user interface, making it a highly effective tool that combines all of the characteristics of modern centralized cryptocurrency exchanges into one platform, plus more.
The LBank exchange app has over 1,000,000 downloads on the Google Play Store. It is also built with support for Android and iOS users. Below is a review from a user of the BingX app.
LBanks charges relatively low fees. Plus, their fee structure is rather simple, giving more confidence that there are no hidden costs here. The LBank exchange charges a maker and a taker fee of +0.1% and +0.1%, respectively. LBank exchange withdrawal fees vary from crypto to crypto. LBank exchange deposit fees do not exist.
LBank, a leading global crypto trading exchange, invites top startup teams to the LBank family by providing targeted capital and resources. LBank Labs, a leading global digital asset exchange backed by LBank, seeks to invest in and incubate top teams, primarily in the crypto space, that has a clear vision, strong technical aptitude, and solid execution skills.
LBank Labs provides assistance and direction all the way through the capital life cycle, from the initial investment to maturity. Software developers, marketing professionals, cryptocurrency traders, and community influencers are just a few of the resources that portfolio companies have immediate access to on a global scale. They have a separate hedge fund team in addition to our venture capital division.
With offices in Dubai, Shanghai, and New York, LBank Labs has a highly skilled and diverse team that covers opportunities all over the world. The core team members have more than 50 years of combined experience in Wall Street investment banking, venture capital, exchanges, and cryptocurrencies.
LBank Exchange review: LBank Wallet
Like the majority of exchanges, LBank features a crypto wallet as well. LBank, however, goes above and beyond by providing both a hot and cold wallet. Similar to a checking account, the hot wallet lets you store money you want to have quick access to.
You can check out this great article on How Crypto Wallet works
The cold wallet is more like a savings account. It is behind an extra layer of security. You can use Google Authenticator or SMS two-factor authentication. Some of the supported cryptos to deposit include:
- LBK LBank
- USDT Tether
- BTC Bitcoin
- ETH Ethereum
- ETC Ethereum Classic
- VET VeChain Main Net
- ZEC Zcash
- BCH Bitcoin Cash ABC
- SCS iacoin
- BTS BitShares
- LTC Litecoin
How to deposit in LBank Wallet
- Choose the crypto and network, and copy the deposit address or save the QR code.
- Paste the address or scan the QR code that you’ve copied to the outside exchange/wallet, and start the withdrawal after confirming the network.
- It will take some time for the block to confirm your withdrawal info., please wait patiently.
- Deposit assets will be credited to your account.
The customization, ease of use, navigation, and design of the trading platforms used by various exchange platforms vary. It is a result of the fact that various exchange platforms use various criteria when creating their trading platforms.
Despite the variations, a good trading platform should be user-friendly, simple to use, and have all the necessary trading tools in its API. You can use the LBank API to access all market data, trading, and account management endpoints.
LBank Customer Service
Users can access LBank’s 24/7 online customer service, which offers real-time, multilingual solutions and updates on the most recent news regarding the platform and the sector. Customers have access to a variety of support options on the platform. Users can contact support staff members through live chat or social media.
For traders who need assistance via email, this service is also available. Beginners can also benefit from educational tools like blogs, news releases, manuals, and FAQs. Below is a review from a user on playstore regarding LBank’s customer service.
Is LBank exchange safe?
LBank has over 5 years of market experience and has never had a reported hacking or loss of funds because it uses cutting-edge security features such as SSL to back up its website. It combines the two-factor user verification system with the C1 and C2 authentication systems.
Additionally, LBank is extremely secure because the platform uses cold storage and hot storage wallets to protect user assets. Users ask questions like “Is LBank exchange safe?” because it is still unregulated. Customers should be aware that the majority of exchanges run without any sort of legal authorization.
LBank Exchange review: Conclusion
Overall, LBank offers the best tools for both new and seasoned traders. It’s an interesting cryptocurrency exchange that’s growing and gaining mainstream adoption and the interest of many clients in the Asian markets. They offer very low fees and a wide variety of cryptocurrencies and markets to trade in.