Cryptocurrency exchanges are the lifeline of the digital market economy, and for the trader, choosing the right one with the features that support their investment needs is a significant decision. No matter your specific needs, you are looking for an exchange that addresses most, if not all, your trading and investment needs to increase your chances of making a profit. If that describes you, our LBank review could be what you need to help you make an informed investment decision.

In this comprehensive LBank review, we delve into LBank’s depths and tell you about its features, user experience, security practices, trading fees, deposit and withdrawal methods, and many other reasons that have made the platform a sensation within the crypto space.

LBank Exchange Review: Summary Table

Overview	Cryptocurrency Exchange owned by Superchains Network Technology Inc.
Headquarters	Based in Hong Kong
Founded By	Eric He and others
Year Founded	2015
Native token	LBK
Supported Cryptocurrencies	Over 800 coins (Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and many others)
Supported Fiat Currencies	Over 50+ fiat currencies GBP, CHF, AED, AMD, and AUD for fiat deposits and over 20 payment methods.
Products & Services	LBank Wallet, NFT marketplace, LBank Academy, Launchpool and Launchpad, LBank Earn, Finance (savings) KYC Trading Applicable to LBank card or fiat trading
Security and Compliance	KYC (Know Your Customer) verification (non-mandatory) Cold Wallet Storage Asset SSL encryption Two Factor Authentication (2FA) IP Whitelisting Bug Bounty Program Anti-phishing Code Asset Insurance Fund.
Trading Features	Spot, Futures, Margin, Copy trading, Leverage and P2P trading, Crypto Lending and Borrowing, Crypto Staking, and OTC trading
Customer Support	Live chat, Email support and a Support Center
Trading Fees	Futures trading: Maker 0.02% – Taker 0.02% Spot trading: Maker 0.10% – Taker 0.10% Leverage trading: Maker 0.20% – Taker 0.20%
Deposit Methods	20+ (including cryptocurrencies, bank transfers, MasterCard, Visa, Apple Pay, Google Pay).
Withdrawal Methods	Cryptocurrency and other external payment providers
Restricted Jurisdictions	China, USA, Belarus, Hong Kong, Macau, Cuba, Iran, Iraq, North Korea, and more.

What is LBank?

LBank is a Hong Kong-based cryptocurrency exchange founded in 2015 by Superchains Network Technology. While it is essentially a Chinese enterprise, it operates from the semi-autonomous city-state of Hong Kong to work around mainland China’s restrictive cryptocurrency laws.

With a customer base of over 15 million and spread across many countries globally, LBank has become an ideal platform for both old and new traders looking to dip their toes into the crypto investment space, targeting the leading digital assets and hundreds of existing and upcoming altcoins. The exchange, primarily a crypto-to-crypto platform, offers tens of trading pairs involving over 500 cryptocurrencies for holdings like Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and many others. 

According to onchain statistics, LBank currently manages an average daily trading volume surpassing $3 billion, which is impressive by any standards. Moreover, LBank users can access bonuses, referral competitions, and other incentives encouraging them to invite friends and family.

LBank Pros and Cons

Regarding cryptocurrency trading, LBank exchange has several advantages and disadvantages. The platform has an easy-to-use interface and offers a wide range of trading tools to enhance users’ experience. While it’s reported to provide among the most competitive trading fees, some users have complained about issues like a not-so-impressive customer support experience.

Considering this LBank review to see whether the exchange is good for you, you need to weigh the pros and cons before settling for LBank for your cryptocurrency trading experience.

Pros of LBank Crypto Exchange

1. Reasonable Trading Fees

With maker/taker fees starting at 0.1%, LBank offers among the most reasonable trading fees applicable with spot traders. Futures makers fees are 0.02%, and takers fees are 0.06%. The fee structure is clear and easy to understand and applies to all traders regardless of the size of their trade volume.

2. Non-compulsory LBank KYC Practice

The exchange operates a non-compulsory LBank KYC policy. If you choose to, you can do all your cryptocurrency trading practices on the platform without being forced to complete a procedure to verify your identity. 

3. Many Alternative Payment Methods Supported

Regarding account management, users have over 50 methods they can use to deposit funds to local bank accounts and debit/credit cards in their proposal. This offers a seamless payment system that technically excludes third-party payment platforms for traders’ benefit. 

4. Token Launchpad and Launchpool

To support especially new users interested in locating newly introduced digital assets that haven’t hit popular exchanges, LBank exchange operates the Launchpad, a segment that helps new projects raise funds. As a result, the platform’s users can access emerging projects at discounted prices, yielding a good return on investment if the project succeeds. 

5. Bot Trading and Copy Trading

Do you like optimizing or automating your cryptocurrency trading experience? If you answered yes, the platform’s grid trading and copy trading features are designed for you. You can increase your profit margins by copying the strategies employed by expert traders or using AI-powered trading bots that predict and take advantage of price fluctuations and then execute automatic trades following predefined parameters.

6. Highest Meme Coin Liquidity

If you are a meme coin lover frustrated by exchanges struggling with low liquidity, especially for newly listed coins, LBank offers a solution: high liquidity that facilitates a seamless buying and selling experience and price stability for any size of opening or closing positions.  

Cons of LBank Crypto Exchange

1. Rigid Trading Fees

LBank’s trading fee structure is rigid regardless of your trading volume or even if you hold the native LBK token. Whatever you trade, a fixed fee of 0.10 – 0.20% applies to all spot trade transactions while a fee of 0.02% and 0.06% applies to all futures trades for both makers and takers in that order.

2. Insufficient Educational Resources

The number of educational resources offered at the LBank academy. On the other hand, the issues addressed by the platform’s FAQ section are limited and may not address many pertinent issues affecting users. The lack of a comprehensive training program and demo accounts can make beginners feel shortchanged.

3. Limited Customer Support Channels

For a crypto exchange of its size, having only two customer support channels namely Email communication and live chat seems like a big disservice. Customers have complained of slow response times, especially regarding complex issues that the AI-trained robots cannot address.

LBank Trading Features

As a global platform with several years of experience, the LBank exchange caters to a wide array of crypto traders and investors with different needs, preferences, risk profiles, and appetites for many forms of crypto trading. In addition to the LBank app, users can access many investment options and other resources that help with portfolio diversification. Our LBank review will delve into some of the features the exchange offers its users.        

1. LBank Spot Trading   

LBank operates a dynamic spot trading platform where traders can instantly buy and sell digital assets, similar to any standard cryptocurrency exchange. The platform’s interface has an easy-to-use, intuitive design. It offers live market data and a super-fast matching engine that simplifies the spot trading experience regardless of whether you’re a novice or an old hand.

For anyone simply looking for a place to buy and sell cryptocurrencies at the prevailing market prices, LBank is a good place to start, considering it offers over 800 different digital assets. Moreover, the platform is renowned for providing a growing list of the latest and trending meme coins on a clean interface rich with real-time price charts and other technical tools that facilitate a hassle-free spot trading experience. The most popular cryptocurrencies on the LBank spot trading platform include BTC, ETH, SOL, XRP, ADA, DOGE, and LTC.

2. LBank Futures Trading

According to the LBank official website, the platform’s futures program manages an average daily trading volume of at least $2.4 billion across over 260 assets where users can enjoy up to 200x leverage. The exchange states that it can launch meme coin futures within three hours of hitting the market, making it the fastest protocol for users intending to trade newly launched meme coins with high-profit potential. The exchange prides itself on using a cross-index pricing model that minimizes liquidation and reduces manipulation while guaranteeing fair pricing.

To facilitate a smooth user experience, the LBank futures trading platform has one of the highest transactions per second (TPS) matching engines with zero latency, ensuring no unnecessary delays could cause mid-transaction price jumps. Moreover, traders can enjoy specialized tools like quick orders, customized price charts, one-click reversals, and stop-loss and take-profit options that facilitate lightning-fast trades in a lightning-fast market.

Considering the risks associated with cryptocurrency trading due to the assets ‘ extreme market volatility, derivative and futures trading can be riskier, especially when highly leveraged trades are involved. The truth is that traders live with an ever-present risk of liquidation when prices can rush in the opposite direction. To better take care of traders on the LBank futures platform, the exchange operates a $100 million Futures Protection Fund to cover futures traders on the platform, with a guarantee of full reimbursement and an additional reward to anyone affected by a sudden price hike. 

3. LBank Copy Trading  

LBank has a Copy Trading feature that enables beginners and less-experienced traders to copy and replicate moves made by successful expert traders automatically. This feature allows any newbie trader to make a lot of money from their cryptocurrency trade practice, whether they’re too busy to conduct trade analyses from complex charts or don’t have the necessary experience. 

The Copy Trade platform shows the distinctive metrics of numerous successful traders, such as their total profits, risk appetite, win rate, and trading history, to enable followers to learn about their specific trading strategies. Taking the copy trading route at LBank is as simple as browsing the list of expert traders, reviewing their trading strategies and performance, and then selecting to follow them.

After you pick your favorite trader, your account automatically will automatically mirror their strategies. The system is designed so that whenever the trader opens or closes a position, your trader account automatically replicates the same trade proportional to the amount of funds you will have allocated. Note that you can follow different traders and still not manage to copy their trade strategies. Always maintain a sufficient balance in your trading account to avoid this mistake.

LBank Fees     

The applicable transaction fees on any exchange you choose can determine what you take home after executing a trade, and for many platforms, this can be relatively high. While other exchanges like Bybit and Binance offer a tiered fee and discount system, fees at LBank are fixed irrespective of your trade volume. Nonetheless, the best part is that LBank Exchange charges some of the lowest fees in the market. Read on our LBank review to understand what the exchange’s fee structure looks like.

1. LBank Trading Fees  

Our LBank review has already stated that unlike other platforms such as Kucoin, which offer reduced day trading fees for traders who hold an exchange’s native token or those who maintain a high trading volume, LBank doesn’t provide any of that, even for users with the native LBK token.

The platform’s trading fees run on the maker-taker fee model with the following structure:

Spot Trading Fees: Depending on the asset, the applicable fees are pegged at a 0.1-0.2% maker/taker fee. The major cryptocurrencies like Bitcoin and Ethereum attract a 0.1% fee, while the smaller altcoins and meme coins will attract a 0.2% fee. In general, the LBank fee structure looks like the following across all manner of tokens:

• Up to $10k trading volume: 0.1-0.2%
• Up to $100k: 0.1-0.2%
• Up to $500k: 0.1-0.2%

Fees for Futures Trades: LBank charges makers 0.02%, while takers have to pay 0.06% as the applicable fees.

2. LBank Withdrawal and Deposit Fees

Different withdrawal and deposit fees apply on the LBank crypto exchange based on your preferred payment method. Users can enjoy free deposits when they make cryptocurrency or fiat currency deposits via P2P, crypto networks, or traditional bank transfers. Nonetheless, the amount payable on crypto withdrawals will differ based on several factors, including the digital asset, the blockchain, and the network’s activity level at the transaction time. 

So here we give a simplified breakdown:

• Deposits: No fees are charged for any P2P trading, bank transfer, or crypto deposits.
• Withdrawals: LBank doesn’t facilitate direct withdrawals, meaning third-party payment providers handle them. As a result, this will translate to relatively higher fees than exchanges like Bybit or Binance since the external providers will mostly offer less favorable exchange rates, leading to higher withdrawal charges. In this case, you’ll need to do your arithmetic well if your trading game involves many fiat withdrawals, as LBank will be a less-than-ideal option on this aspect.

3. LBank Margin Fees   

LBank exchange applies a relatively different trajectory to leverage traders by offering leverage tokens rather than variable leverage on traded tokens, as is standard practice on other exchanges. As a result, the provided leverage tokens act as derivatives instead of spot tokens, which makes them perpetual products, thereby mitigating any liquidation risk.

Regarding the actual practice, the platform supports up to 125x leverage on regular tokens and 200x leverage on meme coin trading. These leveraged tokens mirror ETF trading, supporting five xs long and short positions without margin a margin trade. The applicable trading fees, as indicated on the platform, are:   

• Maker/Taker Fee: 0.2%
• Daily Holding Fee: 0.1%

If you’re interested in futures trading, LBank offers a relatively competitive fee structure as indicated here:

• Maker Fee: 0.02%
• Taker Fee: 0.06%

At this level, the platform’s trading fees are among the most reasonable, perhaps the lowest across the entire industry. For example, if you trade $100 at 10xs leverage, you will be charged only $2 if you use limit orders. Moreover, the fees for selling Bitcoin on the exchange may be comparable to larger exchanges like Binance but lower than those on the same level as LBank.

When you compare LBank’s trading fees for its leveraged tokens with all its other trading products, you’ll notice they’re the highest. On the other hand, the platform’s margin transaction fees are relatively higher than those of other leading exchanges globally.

LBank Products and Services 

In its 10+ years of existence, LBank has expanded to over 210 countries, offering secure, convenient, and professional digital asset exchange services to over 15 million users. The platform has thrived in an ever-evolving environment, and according to CoinMarketCap, it ranks among the top 20 most significant cryptocurrency exchanges by market value and trading volume.    

During this period, LBank Exchange has undertaken significant improvements and added new features over the years, as well as a slew of products and services to cater to its ever-growing clientele. Apart from crypto trading, derivatives, staking, currency quantification, and currency interest creation, the following are among other exclusive products and services available to the digital asset investment community: 

LBank Earn

In addition to the traditional trading tools LBank offers, which you will find on other cryptocurrency exchanges, the platform has several unique ways LBank Earns, through which users can earn additional income. The exchange offers two exclusive earning products: LBank Flexible and LBank Locked. With these two flexible earning tools, investors can use their digital assets to earn daily interest without a lock-up period. These high-quality investment products enable users to manage their idle assets and benefit from a competitive automatic daily interest distribution plan.

The potential annual percentage yield (APY) on this program is determined by the crypto asset invested, but it can be between 2% and 290%. Note that the APY on the LBank flexible tool is compound, meaning the earned interest gets reinvested, and you end up earning a double interest—from the original investment amount and the accumulated interest. The LBank locked tool, on the other hand, garners a higher interest with a stable return on investment since you lock your assets for an agreed-upon period.  

LBank Exchange also offers two related products under LBank Earn: Launchpad and Launchpool. The particular tools are explicitly designed for users interested in gaining early access and investing in new cryptocurrency projects. With Launchpad, users can invest directly in tokens that haven’t been listed publicly. Launchpool, on the other hand, takes the passive income model, where users are asked to hold specific digital assets over some time and earn passive income.

NFT Marketplace

LBank gives users access to a dedicated platform to mint, buy, sell, and trade non-fungible tokens (NFTs). The NFT Marketplace is integrated with the exchange, making it easy for users to fund their accounts and buy digital assets without struggling to transfer funds between different accounts and platforms. 

LBank exchange operates a dedicated marketplace that allows users to mint, buy, sell and trade NFTs. The NFT platform integrates the exchange’s functionalities making it easy for users to seamlessly fund their accounts so they don’t have to transfer assets from one platform to another when buying NFTs. 

Users can easily browse the existing NFT database, where LBank community members can upload and maintain a growing list of offerings, including images, tickets, and blockchain domains similar to those found on any other NFT marketplace.

While the LBank NFT marketplace doesn’t necessarily stand out in the league of the top NFT marketplaces like the Binance NFT Marketplace, it still stands out as a superb option for users who must perform all their trading activities on a single platform. 

All users that are registered on the LBank Exchange have automatic access to an NFT marketplace account. If you’re a creator, you can submit your NFT where it can be reviewed and if approved, you can list it for sale. The NFT marketplace enables collectors and creators to explore various NFT collections, including art, music, virtual real estate, and gaming assets, on LBank.

LBank Wallet

LBank offers an in-built crypto wallet where users can store, manage, and transfer their assets straight from the platform. It comes in both cold and hot wallet versions. Since this is a custodial wallet, the exchange controls the private keys. While this is convenient, the safety and security of the users’ assets become the platform’s responsibility.  

Apart from the LBank wallet’s hot storage option, which facilitates fast and easy access to your funds, the exchange has robust security measures. These include storing most of the funds in cold storage, thus reducing the risk of hacking. Moreover, the exchange has also implemented a withdrawal whitelist option and anti-phishing codes to guarantee optimum protection.  

LBank Bonuses and Special Offers

Any user interested in bonuses and incentives is well taken care of at the exchange’s Bonus Center, where participants can perform simple tasks and earn special referral-based bonuses. New users during sign-up can use the LBank referral code “4UIUJ” to earn up to 6,000 USDT and enjoy a 20% discount on trading fees. 

To qualify for newcomer bonuses, you must spend a minimum volume of 100 USDT on your first spot trade by depositing at least 10 USDT into your LBank account. For futures LBank bonuses, endeavor to exceed a 1,000 USDT trading volume on your first futures trade and maintain a futures wallet balance of no less than 10 USDT.

Moreover, existing traders can also use their LBank referral link and code to invite friends and acquaintances. This helps the referrer receive up to 30% commissions and potential bonuses.

LBank Labs

LBank Labs is a Dubai-based LBank cryptocurrency exchange corporate arm specializing in investing in blockchain and Web3 startups. The project offers venture capital, mentorship opportunities, and network access to incentivize innovation within the industry.

LBank Labs explicitly offers direct funding, project acceleration, and incubation to promote forward-thinking ideas within the blockchain space. Among the most active segments of the project include:   

1. Venture Capital Firm: The project is a venture capital firm targeting startups within the blockchain and Web3 ecosystems.
2. Web3 Focus: The firm is primarily interested in driving the Web3 startup agenda, which aims to fuel what everyone believes is the future of blockchain innovation.
3. Investment Activities: Besides capital, LBank Labs also opens doors to global networking with associated portfolio companies and helps investors diversify their investments across sectors like high-tech, Blockchain Technology, and Fintech. Since its establishment in 2019, LBank Labs has invested in at least 100 ecological projects, such as DeFi, Polkadot, NFT, and Solana, since 2020.

Is LBank Exchange Safe and Legit?

The answer is yes. LBank Exchange is a genuine platform with operating licenses from numerous countries. Nonetheless, like with all financial institutions, you must always do your due diligence and exercise caution, as there are always mixed reviews. The platform has operating licenses from several jurisdictions, including Canada (FINTRAC), Italy (OAM), Australia (AUSTRAC), and Lithuania, among others.

The platform has adopted the renowned Merkle tree proof-of-reserves to verify its asset holdings publicly. Moreover, LBank maintains a state-of-the-art Anti-Market Manipulation Policy and prohibits deceptive practices, including pump-and-dump schemes, spoofing, and wash trading. During its over one decade of existence, LBank Exchange has managed to maintain a clean track record of safety without any security breaches. 

It’s important to note that while the platform runs a robust LBank KYC protocol, it remains one of the trusted no KYC crypto exchanges. However, you can verify your identity to access all products and services, including raising your withdrawal limit using your government-issued ID, driver’s license, or passport. As with all cryptocurrency exchanges, it is recommended that you keep your funds in a secure cold wallet unless you’re trading.

The following are among the security measures LBank uses for customer funds safety:

1. Two-Factor Authentication (2FA)

LBank supports a robust two-factor authentication program as an extra security layer beyond passwords. Users can choose between SMS-based 2FA options and Google Authenticator, making it harder for scammers to access users’ funds. 

Did you know that even if an individual managed to breach your bank account, they would still need to input another 6-digit code sent by your 2-factor authenticator before they could execute any transaction? Moreover, users can add several other protective measures, including asset passwords, SMS verification, or anti-phishing codes, and more.

2. Cold Storage for Funds

Due to the constant risk of theft and hacking, LBank stores the majority of user funds offline in cold storage wallets that do not connect to the internet. The exchange uses a combination of cold and hot wallets to manage user funds and create a balance between security and accessibility so that user funds remain safe and available for transactions when needed.

3. Encryption Standards and Protocols

LBank uses state-of-the-art SSL encryption to protect all user data and transaction records. This military-grade protocol guarantees that customers’ information stays secure and private during every interaction with the platform. Moreover, LBank uses several other security measures to safeguard its infrastructure and operating systems.

4. Regulatory Compliance and Licensing

The exchange seems highly committed to adhering to renowned global guidelines and regulations regarding cryptocurrency exchange operations. LBank’s commitment level is reflected in the many licenses it has received from regulatory agencies in different countries worldwide.

5. Proof of Reserves

The exchange recently adopted the Merkle-tree proof-of-reserves used by legitimate cryptocurrency exchanges to show they have sufficient assets to cover all their user deposits. The Merkle tree uses a cryptographic structure to efficiently and securely verify the integrity of its data.

6. Insurance Fund

LBank has a designated insurance cover covering losses clients could incur if their account balance is zero. The platform uses collateral from transaction fees to cover non-bankrupt clients and limit the risk of counterparty liquidation. A typical insurance fund covers all the exchange’s perpetual futures contracts, while BTC/USDT and ETH/USDT trading pairs are also covered by their separate cover.

7. Licensing Details

LBank has several operating licenses covering its operation in different jurisdictions, including running a money service business (MSB) from the USA’s Financial Crimes Enforcement Network (FinCEN), a Virtual Asset Service Provider (VASP) from Italy, and another license from Canada’s Financial Transactions and Reports Analysis Centre of Canada (FINTRAC). Additionally, LBank is a registered cryptocurrency and remittance service provider registered with the Australian Transaction Reports and Analysis Centre (AUSTRAC), and the Lithuanian government licensed LBank to engage in crypto-focused businesses.

8. Transparency Measures

LBank’s official website displays all relevant information about its operations and regulatory compliance details, demonstrating its commitment to running the business and complying with all applicable legal and regulatory frameworks.

LBank Supported Cryptocurrencies   

According to the company’s website, the LBank exchange supports over 800 different cryptocurrencies, including the leading ones by market capitalization, such as Bitcoin, Ethereum, Solana, Binance Coin (BNB), Polygon, Avalanche, Cardano, and others.

LBank is also a leading meme coin market, offering over 240 mainstream meme coins and several other gems that have recently achieved huge gains. This has made the exchange the go-to exchange for meme coin investors. Some of the leading meme coins it supports include Dogwifhat, Catwifhat, Shiba Inu, Book of Meme, and Pepe coins.

How to Sign Up to LBank       

If you’re interested in buying, selling, or trading different cryptocurrencies through LBank, you need to create an account and deposit funds before you can get started. Whether you’re an expert or a beginner, LBank could be a great place to begin if you want to make a profit while trading or earn endless rewards the exchange offers.

Below is a step-by-step guide to get started on your crypto trade or investment journey:

• Step 1: Download the LBank App: Download the app using your Android or iOS mobile device or register on your browser. 
• Step 2: Open the LBank App: Open the app and top Register or Log In to begin the procedure.
• Step 3: Register: Once you’re logged in, enter your email address and create a password you will use to access your account. Check the box indicating you Understand LBank’s Terms of Use and tap continue.
• Step 4: Verify Account: Drag the slider toward the security verification puzzle. After that, you will receive a verification email. You must enter the verification code within 10 minutes. Enabling 2FA is recommended to add a layer of security.

How to Deposit & Withdraw Crypto on LBank

Deposit Funds         

Once you’ve successfully registered your account, the next step is to have funds before you can buy crypto. Depositing funds is straightforward since LBank supports many cryptocurrencies and deposit networks. Ensure you have supported fiat currencies such as GBP, EUR, and USD, which can be deposited through bank transfers or credit/debit cards to purchase your chosen cryptocurrency.

Here is the process of depositing crypto to LBank:   

1. Using the Web

• Step 1: Visit the LBank Website
• Step 2: Locate the cryptocurrency wallet icon in the menu at the top right-hand corner of the interface and tap “Deposit.” Follow the prompts to select the cryptocurrency you want and your preferred network.
• Step 3: Copy your deposit address and paste it into the wallet you use externally to initiate the transfer. Alternatively, you can scan the QR code with your wallet app to easily make the deposit. Afterward, transfer the deposit address to the external exchange or wallet and start the withdrawal. Be sure to check your LBank account balance to confirm the funds have arrived.

2. Using the App

• Step 1: Go to the bottom of the LBank App menu and tap on “Assets.”
• Step 2: Tap on “Deposit” and select the crypto you want from the Suggested Menu
• Step 3: When the bottom menu pops up, tap “On-Chain” and “Network. “Copy and paste the Deposit Address to the exchange or external wallet and initiate the withdrawal process.

Withdraw Funds

• Step 1: Sign in to your LBank account.
• Step 2: Navigate to the “Wallet” section and click “Withdraw” to begin the withdrawal process, which is similar for both the Web and the Mobile App.
• Step 3: Check the list of your crypto holdings and select the asset you wish to withdraw. Next, after confirming your account’s transaction limit, choose the network of choice.
• Step 4: Enter the recipient’s address by selecting “Actions” followed by “Receive” and the digital asset you wish to receive.
• Step 5: Enter the amount you intend to withdraw into your crypto wallet. Double-check the amount before you proceed, ensuring you have sufficient left to cover the network and transaction fees.
• Step 6: When making a crypto withdrawal, you may be asked to provide your Payment ID, Tag, or Memo.
• Step 7: Once double-checking the transaction details, hit the “Confirm” button to begin the withdrawal process.
• Step 8: Enter the Google and email verification codes for security reasons.

LBank Trading Interface & Experience

LBank is a comprehensive platform renowned for facilitating advanced trading experiences. It offers over 800 digital assets, a growing list of emerging products, and diverse investment opportunities. By leveraging either the LBank Desktop tools or the LBank App, users can access numerous supported trading activities, such as derivatives trading and others, to engage with various financial instruments.

Desktop

LBank Exchange operates an intuitive desktop interface that offers a smooth trading experience incorporating world-class features and tools via TradingView integration. The platform runs on the most popular browsers, including Google Chrome and Safari, and can access at least 19 technical indicators, advanced charts, and order books.

The Desktop platform helps users move trades smoothly between different exchanges. Its clear and easy-to-follow layout suits both beginners and experts. Traders can easily access all the essential information needed to make investment decisions, such as market depth, price charts, live trades, and order book data. Nonetheless, the arrangement is static; users cannot resize or rearrange anything to fit their tastes. 

Placing a trade via the LBank Desktop version seems straightforward and allows for some customization. The layout is similar to the mobile version, facilitating a hassle-free experience when switching between devices.

The LBank Desktop platform offers a smooth trading experience by providing advanced tools that enable detailed analysis and various trading strategies. Additionally, the easy-to-use order form makes the opening position a walk in the park while making the platform user-friendly for new and advanced customers. However, several user reviews propose some improvements to the best features, including limiting app Restrictions and allowing the ability to rearrange modules to fit an individual’s style.

Mobile App    

The LBank App supports both Android and iOS mobile devices. Its user-friendly interface lets users conveniently access cryptocurrencies from their mobile devices. The app offers an intuitive, easy-to-use interface ideal for beginners and experienced traders.

Some of the best features of the LBank App include the most advanced tools available on the Desktop version, such as different trading options and portfolio tracking without forgetting spot, derivatives, and futures trading. One unique feature you won’t find with the Desktop version is real-time price tracking and alerts, which allow traders to set price notifications that keep them updated without having to check the app physically. 

LBank customers using the app can easily access LBank earn, where they can earn passive income through cryptocurrency staking. Moreover, buying crypto using fiat currency via the app is as simple as possible, with payment options including bank transfers, credit/debit cards, and other third-party payment options. Among the standout features of the LBank app are the following:

• LBank Earn integration
• The ability to set up price alerts for live market data
• Numerous payment options for buying with fiat currency
• Robust security measures include biometric login, 2FA, IP, withdrawal whitelisting, and anti-phishing codes.
• Futures and spot trading with reasonable fees
• Coin search [age showing trending and latest tokens
• The portfolio overview screen shows user account balances for spot, futures, grid, and earn accounts.

LBank Customer Support       

According to the exchange’s website, customers needing assistance with issues can email the customer support team. (service@lbank.info). There is also an online chat option on the official website if you need real-time support. However, many customers report difficulties in getting their queries answered promptly, likely due to the large volume of users worldwide seeking assistance for urgent issues. This is an area where LBank Exchange can improve. This is one area that LBank Exchange could address.

For users who prefer communicating via social media, the exchange has an official Telegram group where customers can engage with the wider LBank community and seek help with any challenges.

LBank Supported Countries and Regions

LBank Exchange states on its website that it’s available in at least 210 countries and regions globally. It has a larger reach than many other cryptocurrency exchanges, supporting fewer destinations. Despite relaxing their no LBank KYC policy, which allows users from most regions to access some features without verification, users in countries like the USA, Mainland China, Cuba, and Iran cannot avail of the platform’s services. If you want to know the entire list of restricted countries, you can gather information from LBank’s Service Agreement, which compiles the list of geographical restrictions.

Conclusion    

This LBank review shows that the platform is user-friendly, featuring a wide range of cryptocurrencies and over 100 fiat currencies it supports. The platform is ideal for beginners and experienced traders, offering various features, including derivative and spot trading, crypto staking, and an NFT marketplace. Moreover, users who want to benefit from the experience of expert traders can take advantage of the copy trading feature.

Considering the security risks often associated with the ever-evolving cryptocurrency market, LBank comes out strongly with robust safety measures, including cold storage for funds, two-factor authentication, and SSL encryption. The exchange has licenses from regulatory agencies in different jurisdictions to monitor regulators worldwide. LBank runs insurance coverage to cover clients’ losses and further secures customer assets.

After considering all the features, benefits, trading tools, and drawbacks enumerated in this LBank review, it is safe to say that LBank presents more positive elements than negative ones. As a result, it can be considered a secure platform for any crypto enthusiast interested in a wide variety of trading tools and different fiat currency buying and selling options. 

FAQs

What is the security score of LBank?

According to blockchain security firm CertiK, LBank’s security score stands at 78.35 out of 100, which places it at #18 in the CertiK Skynet ranking. Moreover, CoinGecko has given LBank an 8/10 trust score. The excellent security and trust scores are based on the fact that the exchange has never experienced any reported hacks or loss of customer funds. Moreover, the bank maintains many global licenses and registrations from countries and partners with Elliptic to enhance compliance and security.

Is LBank Available in the US?

No, LBank is not available in the US. The exchange lacks regulatory approvals in the US, so users based in the US should consider alternatives like Coinbase, Kraken, or Binance.US instead.

Are LBank Fees Competitive?

LBank’s trading fees are relatively competitive compared to other cryptocurrency exchanges, although they may not be the lowest in the market. The transaction fees start from as low as 0.10% for maker and taker fees; for futures trading, the rates are 0.02% for maker fees and 0.06% for taker fees. Nonetheless, LBank fails to offer volume-based discounts like some other exchanges.

Can you cash out on LBank?  

Yes, it’s possible to cash out on LBank. Open your on-chain wallet, choose your preferred network, and copy the wallet address. After that, open the LBank withdrawal page, fill in the wallet’s network address and the desired currency information, and click “Withdraw” to submit your request. Now, wait for the block confirmation and the wallet to receive the credited amount.

Can you use LBank in the USA?

Unfortunately, cryptocurrency traders in the United States cannot access LBank’s services. While it was still possible to sign up, open an account, and execute a few trades in the past, it’s impossible to get verified. However, it is now completely impossible to do that. American users can always enjoy the crypto experience using other cryptocurrency exchanges. 

Where is the LBank exchange located?   

LBank is headquartered in Hong Kong and operates globally, offering services to over 210 countries. The platform has operating licenses from several locations, including the USA, Canada, Australia, UAE, Lithuania, Indonesia, and the British Virgin Islands.

Is LBank a Chinese company?       

There have been reports in the media suggesting that LBank could have some Chinese connections. However, the exchange’s core operations are in Hong Kong, and rumor has it that the founders are Chinese nationals who needed to work around the crypto restrictions back in China. The platform serves customers from all over the world.

Does LBank require KYC for withdrawal?

The LBank KYC requirement on withdrawals is relaxed, meaning users can withdraw a limited amount of crypto without needing KYC verification. This applies explicitly to non-KYC accounts with daily withdrawals of up to 0.5 Bitcoin. Nonetheless, KYC verification remains mandatory for larger withdrawals.  

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