LBANK

LBANK Overview

LBANK, with full name LBANK Exchange (PT LBK TEKNOLOGY INDONESIA), is a top cryptocurrency trading platform with operation offices in different countries. Founded in 2015, LBANK provides global users with secure, professional, and convenient products and services, including Cryptocurrency Trading, Derivatives, Staking, NFT, and LBK Labs investment.

LBANK offers a user-friendly platform, advanced trading features, and a wide array of services, including spot trading, grid trading, Futures trading, Staking trading, NTF trading and more, making it a preferred choice for both beginners and experienced traders in the cryptocurrency market.

Pros & Cons

Regulatory Compliance

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources.

WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

As of August 2023, LBANK reportedly holds an exceeded Common Financial Service License from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with the license no. M22603388, an expired MSB license the Financial Crimes Enforcement Network (FinCEN) with License Number 31000165522186 and an expired Investment Advisory License regulated by FINTRAC with the license number M20358664.

Security

LBANK has implemented several security measures to enhance the safety of its platform and user funds.

• Two-factor Authentication

LBANK has implemented Two-factor Authentication (2FA). With 2FA, users are required to provide an additional verification step, typically through a mobile app or SMS code, in addition to their regular login credentials. This adds an extra layer of security and reduces the risk of unauthorized access to user accounts, ensuring a safer and more secure trading experience for its users.

• Strict privacy policy

At LBANK, the implementation of a comprehensive privacy policy plays a pivotal role in fortifying their security measures. This policy is designed to safeguard the personal and financial information of their users, ensuring that sensitive data remains confidential and is not shared with unauthorized parties.

While LBANK has taken significant steps to enhance security and user protection, no exchange or platform is entirely immune to risks. Cryptocurrency trading inherently carries certain risks, and users should take additional precautions to safeguard their assets.

Some recommended practices include using strong passwords, enabling 2FA, being cautious of phishing attempts, and storing a significant portion of your funds in secure hardware wallets rather than on the exchange.

Cryptocurrencies Available

LBANK offers a vast selection of over 150 cryptocurrencies for trading on its exchange. It also supports a variety of more than 100 fiat currencies, including USD, EUR, AUD, GBP, HKD, and INR, making it accessible to users from various regions.

Some of the notable cryptocurrencies available on LBANK include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), LBANK Coin (BNB), LBANK USD (BUSD), Cardano (ADA), Polkadot (DOT), SHIBA INU (SHIB), USD Coin (USDC), Dogecoin (DOGE) and TRON (TRX), among many others.

LBANK APP

The LBank app is a mobile app that allows users to trade cryptocurrencies, manage their portfolios, and access educational resources. The app offers a variety of features, including:

Spot trading: Buy and sell cryptocurrencies at the current market price.

Margin trading: Trade cryptocurrencies with leverage, which can amplify profits but also losses.

Derivatives trading: Trade futures and options contracts on cryptocurrencies.

DeFi trading: Trade decentralized finance (DeFi) tokens and assets.

Staking and lending: Earn interest on your cryptocurrencies by staking them or lending them to other users.

Educational resources: Access a variety of educational articles, blog posts, videos, and webinars on cryptocurrency and trading.

To download the LBank app, you can visit the LBank website or search for the app in the App Store or Google Play.

Here are the steps on how to download the LBank app:

Go to the LBank website or search for the app in the App Store or Google Play.

Click on the “Download” button.

Follow the on-screen instructions to install the app.

Once the app is installed, open it and create an account.

Once you have created an account, you can start trading cryptocurrencies, managing your portfolio, and accessing educational resources.

How to Open an Account？

Here is a step-by-step guide on how to open an account on LBank:

Go to the LBank website and click on the “Sign Up” button in the top right corner of the page.

On the Sign Up page, enter your email address and create a password.

Make sure you agree to the LBank Terms of Use and Privacy Policy by clicking on the checkbox.

Once you have entered all the required information, click on the Sign Up button.

You will receive a verification email from LBank. Click on the link in the email to verify your account.

Once your account has been verified, you can log in and start trading.

How to Buy Cryptos？

Here is a step-by-step guide on how to buy Cryptos on PC and app:

PC

Go to the LBank website and create an account.

Once you have created an account, log in and click on the “Buy Crypto” button.

On the Buy Crypto page, you can select the cryptocurrency you want to buy and the fiat currency you want to use.

You can also enter the amount of fiat currency you want to spend or the amount of cryptocurrency you want to buy.

Once you have entered all the required information, click on the Confirm button.

LBank will then process your payment and deposit the cryptocurrency into your wallet.

App

Download the LBank app from the App Store or Google Play.

Open the app and create an account.

On the Login page, you can enter your email address and password to log in to your existing LBank account.

If you do not have an LBank account, you can click on the Sign Up button to create a new account.

Once you have logged in, click on the Buy Crypto button.

On the Buy Crypto page, you can select the cryptocurrency you want to buy and the fiat currency you want to use.

You can also enter the amount of fiat currency you want to spend or the amount of cryptocurrency you want to buy.

Once you have entered all the required information, click on the Confirm button.

LBank will then process your payment and deposit the cryptocurrency into your wallet.

Fees

LBANK provides displays the Maker-Taker fee structure for spot trading and contract trading.

In spot trading on LBANK, both the Maker fee and Taker fee are set at 0.1% of the transaction value. This means that whether a trader is placing an order that adds liquidity to the market (Maker) or taking liquidity from existing orders (Taker), the fee remains the same.

On the other hand, in futures trading, the fee structure is slightly different. For Maker orders in futures trading, a fee of 0.02% is applied, while for Taker orders, the fee is set at 0.06%. This difference in fees incentivizes traders to provide liquidity to the market by placing Maker orders, as they are rewarded with a lower fee compared to Taker orders.

Funding Methods

LBANK provides a diverse range of over 20 payment methods to cater to the preferences and convenience of its users. Whether it's through traditional options like Master Card, Visa, and Bank Transfer or modern digital payment solutions such as Google Play and ApplePay, LBANK ensures a seamless and efficient transaction process.

LBANK involves the use of third-party services, namely Banxa, XanPool, MoonPay, Mercuryo, Simplex, Paxful, Coinify.

The purchase limit refers to the maximum amount of cryptocurrency or digital assets that a user can buy within a specific time frame, typically set by the payment service provider or cryptocurrency exchange. Different platforms have varying purchase limits to ensure compliance with regulatory requirements and prevent potential misuse. For example, Banxa sets daily and weekly limits in euros. Simplex has a daily and monthly limit in USD, and Paxful likely imposes its own purchase limits as well. Users should be aware of these limits before making transactions to avoid exceeding them and adhere to the platform's rules and regulations.

Compare to Other Cryptocurrency Exchanges

• LBANK

LBANK is a good option for cryptocurrency traders who are looking for a secure and reliable exchange with a wide variety of coins to trade.

• Huobi

Ideal for users prioritizing security, compliance, and seeking opportunities to earn passive income through staking and investment products.

• Coinbase

Suited for beginners due to its user-friendly interface and simple buying options. It is also a preferred choice for users in regions with stringent regulations, as Coinbase emphasizes regulatory compliance.