LBANK REVIEW

Overview

LBank is a cryptocurrency exchanger that allows clients from all over the world to buy and sell cryptocurrencies. The exchange was founded in 2016 to provide professional cryptocurrency asset management services worldwide. Superchains Network Technology Co. Ltd. owns and operates the business.

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What is LBank?

LBank crypto was established in Hong Kong in 2015 and offered crypto trading pairs for 100+ cryptocurrencies. LBANK operates from China, but due to its Chinese roots, it faces competitors like KuCoin, Binance, and Bit-Z. It is still available in 200+ countries, with 4,800,000 users. All of LBank’s features, such as quick account creation, a mobile app, and educational resources, are available to everyone. Using two-factor authentication, users can protect their data when logging into the platform.
Moreover, it also offers cold and hot storage wallets for fund security. The platform provides a range of attractive features, such as minimal trading fees and withdrawal charges. Still, it is lacking regarding fiat currency compatibility, margin trading, and payment methods.

LBank Features

  • The platform is designed for users in Asia, so it is primarily oriented there. New users can sign up for an account and receive helpful information via the app. It also allows users to trade anywhere at any time on their mobile devices.
  • There are several reasons why it is popular in the Western market. It has a simple user interface, advanced indicators, and trading windows that allow experienced traders to profit from cryptocurrency trading. It has cryptocurrency support and sufficient liquidity, making it a popular choice in the Western market. Two-factor authentication, SSL protection, hot storage wallet, and offline cryptocurrency wallet are some tools that make the platform secure. It can maintain the security of its equipment in this way.
  • LBank has a small trading fee because of these characteristics. Beginners and veterans can use it on the same platform.

How Does LBank Exchange Work?

LBank is a crypto exchange that operates in a highly competitive market. Users can get a simple experience using the LBank website. It is safe and easy to use. Technical analysis indicators are used to give users the best trading opportunities. CCI, RSI, KDJ, and MACD are among the leading indicators used by LBank. It leverages these solutions and improves its performance. From the account creation procedure, users just have to deposit funds. After that, they can use the tools to buy and sell cryptocurrency.

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Services Offered by LBank Exchange

You may find the services of LBank exchange listed below:

  • Multiple Trading Platforms:–

LBank is compatible with both desktops and mobile devices. It provides quality services for trading.

  • Advanced Tools:-

The platform has advanced indicators such as CCI, RSI, KDJ, and MACD. It also has a premium trading window for advanced traders and its advanced hands.

  • Optimal Security:-

Everyone can securely access LBank through SSL and 2-factor authentication. Cold and hot wallet security is provided via LBank.

  • Cryptocurrency Exchange:-

Crypto trading is the primary reason why LBank has grown in popularity. It allows users to buy and sell many popular digital currencies at bargain prices.

  • Educational Resources:-

Newbies can find educational resources on the exchange on the basis that they can start instantly and seamlessly.

  • Wallets and Orders:-

A Spot, Quantitative, Finance, and Futures wallet are also available to veteran traders. Grid, Futures, and Spot Orders are offered.

  • Trading APIs:-

The trading APIs are also available to customers at any time.

LBank Exchange Sign Up Process

  1. Go to LBank’s official website on any device. 
  2. To the top-right section, select SignUp. 
  3. Choose either the email or mobile number option. 
  4. Complete the ReCaptcha. 
  5. Submit the verification code and accept it. 
  6. Create a password and confirm it. 
  7. Provide any referral code, if available. 
  8. Click on the SignUp link.
  9. It will open a similar window. 
  10. Select whether to bind the 2FA option. Skip if not. 
  11. Customers will be taken to the site with the account option in the top-right section.
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How to Start Trading With the LBank Crypto Exchange?

To create an LBank crypto account, you must first sign up on the website and app. The process starts with creating an account. Before making an account, customers can choose a deposit method such as wire transfer, e-wallets, MasterCard, and digital assets. The deposit process is swift. Customers can trade over 100+ cryptocurrencies after entering the amount in a suitable currency and clicking the Buy Now button. After entering the amount in a relevant currency, customers may simply tap on the Buy Now button. After entering the amount, customers may select the payment option if they do not have any funds. It will immediately initiate the transaction and receive a payment confirmation.

LBank Accepted Payment Methods

Despite its lack of payment methods, LBank is a popular alternative thanks to its many options for payment. MasterCard, regional eWallets, bank wire transfers, and cryptocurrencies are among its popular alternatives.

LBank Trading Platform

LBank crypto is the best crypto exchange and is easy to use. It has live charts, buying windows, detailed indicators, and market analysis tools. It is simple to use for everyone. It has drawing tools, charting analysis, advanced indicators, and market analysis tools. It has a gap in its charting tools and research. It offers excellent solutions for all trading levels without interruption.

LBank Mobile App

LBank’s app is available through Google Play Store and Apple Store. It is a popular choice among market traders because it is available on Android and iOS devices. There are several advantages to using the app, such as a comprehensive layout and easy navigation.

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LBank Security and Privacy

The exchange has excellent security thanks to SSL technologies and two-factor authentication. It combines C1 and C2 authentication methods with two-factor verification and the C1 and C2 authentication systems. In addition, LBank employs cold and hot storage wallets to safeguard user funds, making it the most secure cryptocurrency exchange. They should also be aware that LBank has a 5-year history of security, and no breach has ever occurred.

LBank Customer Support

Customers may reach support staff via live chat or social media platforms, as well as email support for any issue. Educational resources such as blogs, news announcements, guides, and FAQs are also available.

LBank Exchange Fees

– There are three types of charges levied by cryptocurrency exchanges on their users: –

  • Trading Fees
  • Deposit Fees
  • Withdrawal Fees

LBank charges maker and taker fees because of its additional features. However, these charges are among the most competitive in the world.

Trading Fees

LBank Exchange has a minimal 0.10% trading fee and average fees of 0.25%, making it affordable.

Deposit Fees

The platform does not charge any deposit fees. Cryptocurrencies, eWallets, MasterCard, and bank wire transfers can be deposited on the platform.

Withdrawal Fees

The LBank exchange charges no withdrawal fees, but networks impose a 0.1% fee for Ethereum withdrawals.

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Maker and Taker Fees

A 0.10% charge applies to both executing a limit order and market order on LBank. Check this link for more information on the LBank fee schedule.

Pros & Cons Of LBank

Pros 
  • Easy to use and understand
  • Ideal for Asian traders
  • No withdrawal fees and low trading fees
  • Mobile app available
  • Advanced trading tools
  • Quick account creation
  • Educational resources
  • 2FA and cold-hot storage wallets
  • Supports 97 crypto tokens
  • Sufficient liquidity 
Cons
  • Inaccessible in many countries
  • Slow customer support
  • Not feasible for English speaking nations
  • No cTrader or MetaTrader
  • Limited payment methods
  • Unregulated

Conclusion

LBank provides the best tools for beginners and experts. Its educational resources and advanced indicators are a testament to this. LBank’s limited payment method support is superior to its peer providers. The platform is affordable, and the fees are minimal. It is, therefore, possible to buy/sell 120+ cryptocurrencies on it. However, many other exchanges are better than LBank.

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