LBank is a Hong-Kong based cryptocurrency exchange, this digital assets platform joined the market in 2016, to provide users with professional cryptocurrency asset management solutions around the globe. Hong Kong is considered the “Mecca of crypto trading” since it offers a noteworthy option. LBank stands out among the crowd, outperforming the competition on multiple fronts.
LBank crypto exchange also provides trading opportunities with over 97 tokens including Bitcoin, Ethereum, Litecoin, and Zcash. Though users can access the platform globally, LBank tends to avoid regions with strict jurisdictions. LBank is owned and operated by a Chinese company known as Superchains Network Technology Co. Ltd.
LBank despite restrictions keeps growing in popularity with its mobile app and minimal trading fees. LBank offers educational resources and staking capabilities that are appealing globally.
What is LBank Exchange
LBank is based in Hong Kong, it is owned and operated by Superchains Network Technology Co. Ltd. With its headquarters in China, it competes with Binance, KuCoin, and Bit-Z. The Chinese location restricts LBank from accepting users from some regions, available in over 200 countries, it has about 4.8 million users.
It is easier for beginners by offering quick account creation, a mobile app, and educational resources. It also provides advanced trading tools like trading indicators and APIs for professional traders and investors. For security, it allows users to apply two-factor authentication on all log-in, and also for fund security cold and hot storage wallets; it has survived in the market with no security breach. The exchange is notable for minimal trading fees and withdrawal charges. Though it is not great when it comes to fiat currency, compatibility, margin trading, and payment methods.
How LBank works
The operation of LBank as a crypto exchange is that it provides its users with a web-based trading platform. This comes with an intuitive interface, offering a simple and hassle-free experience to its users.
LBank also uses technical analysis to indicator to show the best trading opportunities to its users, this indicator includes CCI, RSI, KDJ, and MACD, leveraging solutions and enhancing the exchange performances. Users need to only deposit funds after creating an account, afterward, they can use the tools to buy and sell their cryptocurrencies.
LBank supports only cryptocurrency exchange, meaning that it does not use fiat currency, except crypto to crypto trading pairs. With over 40 different digital assets featured, there is 6 crypto market for trade; there might also be a change in the future of the numbers of cryptocurrency in the market as more digital currencies are added over time. The available cryptocurrency exchange market and trading pair include:
- Ethereum (ETH) has 36 crypto pairs
- Bitcoin (BTC) has 22 crypto pairs
- Tether (USDT) has 8 crypto pairs
- Qtum (QTUM) has 7 crypto pairs
- Neo (NEO) has 3 crypto pairs
- Bitshares (BTS) have 2 crypto pairs.
LBank sign-up process
- Search for LBank’s official site on your phone or laptop
- At the top-right section, click sign up
- Select between email and phone number option
- Complete the reCaptcha to prove you are not a robot
- A verification code will be sent, copy it on the verification box
- Create a password and confirm
- Type in referral code, if any
- Click on the service agreement box
- Sign up
- Chose to use 2FA or select skip
- Your account is set.
Fees
The cost to trade on LBank is low compared to other leading exchange platforms, the maker and taker have their fees group in a flat fee of 0.10% per trade. This is very low since most exchange platforms charge at least 0.20%-0.25% per trade. Deposits are charged free though withdrawal attracts fee but varying from different crypto, though withdrawal fee doesn’t reflect in the page, it is very low.
