LBank, a cryptocurrency exchange founded in October 2016, is a centralized platform for trading digital assets for international users. It aims to provide professional asset management solutions. The exchange is owned and operated by a Chinese company known as Superchains Network Technology Co. Ltd.
The company claims that its core team consists of representatives of the traditional financial industry, IT and the best universities. The team aims to create the most professional platform for integrated digital asset maintenance, while ensuring security.
LBank has its headquarters in Hong Kong, and mainly serves the Asian and Chinese markets. However, the exchange accepts clients from all over the world and offers its services in both English and Chinese. LBank currently offers hundreds of digital currency pairs, and also claims to have one of the highest staking rewards.
The platform is very nice and simple with an intuitive interface that is easy to use. In addition, the platform includes some advanced tools and features, such as the technical analysis indicators MACD, KDJ, RSI, CCI.
In addition, the platform includes a market depth window under the chart and a volume window under the order windows. The placement of all the functions seems loks well thought out.
Although the platform has some advanced tools, features, and technical indicators, there are no tools for analyzing charts, such as drawing tools and other technical analysis methods.
However, the platform as a whole is quite advanced, which is good for experienced traders, and also quite simple for novice traders.
LBank is strictly a cryptocurrency exchange, which means that they only support cryptocurrency pairs, and fiat currency is not supported. The exchange supports and offers more than 40 different cryptocurrencies for trading on 6 different cryptocurrency markets. New cryptocurrencies are being added all the time, so this number is growing. Available cryptocurrency markets and number of trading pairs:
- Tether (USDT): 8 pairs of cryptocurrencies
- Bitcoin (BTC): 22 cryptocurrency pairs
- Ethereum (ETH): 36 cryptocurrency pairs
- Qtum (QTUM): 7 pairs of cryptocurrencies
- Bitshares (BTS): 2 pairs of cryptocurrencies
- Neo (NEO): 3 pairs of cryptocurrencies
The cost of trading in LBank is relatively low, especially compared to other leading cryptocurrency exchanges. The maker and taker commissions are combined into a fixed commission of 0.10% per trade. This is very small, given that most of the leading exchanges charge at least 0.20% - 0.25% per transaction.
As for deposits and withdrawals, deposits are free of any fees, but withdrawals are charged a fee that varies from cryptocurrency to cryptocurrency. This withdrawal fee is not listed on the websites ' commission page, but according to user reviews, it is quite low.
The exchange implements the latest security features, such as servers with SSL encryption, two-factor authentication for login and transactions, as well as storing user funds in a cold and hot wallet.
In addition, users are not required to provide any identifying information and can remain anonymous when trading on their platform.
- To own your crypto assets, you need to manage your own private keys.
- Ledger hardware wallets make private key management easy and secure.
- Each unique 24-word recovery phrase creates a new set of private keys.
- Make sure you secure your 24-word recovery phrase properly.