LBank Review: A Top-20 Exchange for Altcoin Enthusiasts.
Searching for an exchange with a vast altcoin selection? LBank, a global top-20 crypto platform, keeps expanding its offerings. Traders seeking a reliable place to buy and sell digital assets should take note.
I'm David Wabinz. This LBank review digs into its key aspects: cryptocurrency, features, fees, security, bonuses, and more. My goal? To equip new traders with facts for a smart choice.
Learn more exchanges at DavidWabinz.com.
What is LBank?
LBank, founded in 2015, is a global cryptocurrency exchange platform. LBank offers a secure and user-friendly environment to buy, sell, and trade over 700 cryptocurrencies. Initially focused on the Asian market, LBank's popularity has now extended worldwide. The platform also supports over 200 fiat currencies.
LBank has strategically established its headquarters in Hong Kong in response to China's stringent regulations on cryptocurrencies, ICOs, and exchanges. LBank primarily targets the Asian and Chinese markets. Despite legal challenges, LBank extends its services globally, accommodating clients worldwide and offering bilingual support in English and Mandarin Chinese.
Beyond basic spot trading, LBank provides an array of services, such as derivatives trading (futures contracts), staking, automated grid trading, P2P trading, copy trading, and an NFT marketplace.
At LBank, security is the top priority. The platform employs measures like cold storage for assets and two-factor authentication to safeguard users' funds. Additionally, LBank is designed for a user-friendly trading experience, ensuring accessibility for those new to the cryptocurrency market.
⏩ LBank Invitation Code 2024: 38Q0T
⏩ Bonus: 255 USDT + 50% discount fees
Is LBank Legit?
LBank is a legit platform gaining recognition. In 2024, It is emerging as a noteworthy crypto exchange. LBank offers diverse crypto products for all traders. LBank supports over 450 cryptocurrencies. LBank has 5 million global users. LBank provides spot trading, futures, and ETFs. LBank features optional KYC for privacy. LBank charges 0.2% for spot trades and 0.02-0.06% for futures. LBank allows crypto deposits and withdrawals. LBank users can buy crypto with cards via partners. LBank holds licenses in the US, Canada, and Italy.
LBank Pros and Cons
Let's start this LBank review by examining the pros and cons. It's best to analyze the pros first. It lets us see LBank at its best before finding any cons or problems. Of course, for you to have a thorough understanding of LBank, we also need to talk about the cons of this exchange.
LBank Pros:
- User-friendly interface, making navigation effortless.
- Competitive fee structure.
- Extensive range of cryptocurrency assets available.
- Adequate liquidity to support trading activities.
LBank Pros:
- Customer service response times are sluggish, and the available options are limited.
- English language support is not prioritized.
- Lack of regulatory oversight.
LBank Supported Cryptocurrencies
LBank cryptocurrencies reach new heights in 2024. The exchange offers over 700 digital assets for spot trading. This vast array meets every investor's needs. LBank's selection includes Bitcoin and cutting-edge altcoins. The diverse options make LBank a leader in crypto trading.
Futures traders rejoice too. LBank supports over 100 cryptocurrencies for derivative trading, offering a robust playground for risk-takers and strategic investors alike. This impressive lineup includes both established titans and rising stars, ensuring that LBank stays at the forefront of crypto innovation.
Top supported cryptocurrencies on LBank:
- Bitcoin (BTC) – The original cryptocurrency
- Ethereum (ETH) – Smart contract pioneer
- Tether (USDT) – Leading stablecoin
- Binance Coin (BNB) – Major exchange token
- Ripple (XRP) – Fast, low-cost transfers
- Cardano (ADA) – Sustainable blockchain platform
- Solana (SOL) – High-performance network
- Dogecoin (DOGE) – Popular meme coin
- Polkadot (DOT) – Interoperability focused
- Polygon (MATIC) – Ethereum scaling solution
LBank Features
The LBank features enhance transaction efficiency. They include various trading tools: Copy Trading, Spot Trading, Futures Trading, and Grid Trading. LBank features support diverse transaction types and simplify the trading process. Users benefit from LBank features daily.
LBank rolled out feature updates in 2024, expanding its cryptocurrency offerings to over 600 assets. The platform increased futures trading leverage to 150x and enhanced grid trading bot algorithms. New staking options emerged for rising cryptocurrencies, while cross-chain DeFi mining capabilities were introduced. LBank streamlined its withdrawal process, reducing transaction times. The exchange partnered with more fiat on-ramp providers and launched margin trading for select cryptocurrency pairs. API functionality improvements catered to institutional traders' needs. These updates aimed to provide users with more trading options, improved performance, and enhanced accessibility in the evolving cryptocurrency market.
Copy Trading
In the fast-paced world of cryptocurrency trading, LBank's Copy Trading feature offers a lifeline to newcomers and seasoned investors alike. Users can browse through a roster of traders, examining their performance and tactics. With a click, they can follow or copy these traders, allowing LBank to mirror their positions and executions in real time. This system integrates smoothly into LBank's interface, simplifying the process of setting up and managing copied trades.
LBank's Copy Trading serves as a bridge between novice and expert traders. Beginners can learn and earn by tapping into the knowledge of experienced traders. Meanwhile, copied traders can generate additional income, receiving up to 10% of the profits made by their followers, depending on total futures equity. This symbiosis creates a win-win scenario, fostering a community of shared growth and learning.
The system's benefits extend beyond mere profit. It saves time by reducing the need for extensive market analysis. Traders can diversify their portfolios by copying multiple masters with varied strategies. This approach spreads risk and increases the potential for returns. LBank's Copy Trading transforms the complex world of cryptocurrency trading into an accessible platform for all levels of traders, from beginners to experts.
Spot Trading
LBank provides a robust Spot Trading platform at its exchange core. Users on LBank can instantly buy or sell digital assets at market rates. The LBank system handles both fiat and crypto payments. In 2024, with over 700 coins available, LBank’s Spot Trading offers diverse options. Bitcoin and Ethereum trade alongside hundreds of other cryptocurrencies on LBank.
Transactions on LBank's spot market are executed immediately. This speed lets traders capitalize on market movements and manage their portfolios in real time. The platform's interface displays current prices, order books, and trade history. These tools help users make informed decisions about when to enter or exit positions.
Futures Trading
LBank offers a dynamic Futures Trading platform for crypto speculators. On LBank, traders can bet on Bitcoin, Ethereum, and USDT contract prices without asset ownership. LBank's Futures Trading fees are low: 0.04% for takers and 0.02% for makers.
In 2024, LBank updates increasing futures trading leverage to 150 times. LBank amplifies potential results in Futures Trading. This LBank feature attracts those seeking high-risk, high-reward opportunities.
The platform offers two margin modes: isolated and cross. An isolated margin limits risk to a specific position, while a cross margin uses the entire account balance. Traders choose their risk level. Order types include market, limit, stop-loss, and take-profit. These tools let traders execute strategies and manage positions.
LBank's advanced orders add flexibility. Trailing stops adjust with price movements, locking in gains. Bracket orders combine stop-loss and take-profit, defining exit points. These features help traders navigate market volatility. The platform aims to serve both newcomers and experienced futures traders in the cryptocurrency market.
Grid Trading
LBank offers a powerful Grid Trading tool that automates profit-making in sideways markets. This system creates a grid of buy and sell orders within set price ranges. As crypto prices move, the Grid Trading bot on LBank buys low and sells high. The approach captures small, frequent price changes for steady profits. LBank's Grid Trading excels in trendless market conditions.
The practical application of Grid Trading on LBank offers traders a hands-off approach to market volatility. Users define their parameters – the price range, number of grids, and investment amount – and the system takes care of the rest. This strategy is great in ranging markets. In such markets, prices swing between support and resistance levels. Grid Trading on LBank automates buying low and selling high. It lets traders profit from market inefficiencies. And they can do so without constant monitoring. But, users should know this method may do poorly in strong trends. It needs careful settings to manage risk well.
LBank Mobile App
LBank delivers cryptocurrency trading power through its Mobile App. The LBank interface focuses on simplicity for all trader levels. Users access LBank accounts, trade, and manage assets from their phones. This ensures LBank services remain available at all times via the Mobile App. The LBank Mobile App brings full exchange functionality to users' fingertips.
LBank's Mobile App underwent significant upgrades in 2024, enhancing its functionality and user experience. The app now delivers advanced charting features, enabling traders to perform detailed technical analysis directly on their mobile devices. These new tools allow users to identify trends, support and resistance levels, and potential entry or exit points with greater precision.
The user interface received a major overhaul, streamlining navigation and trading processes. The redesign focuses on intuitive layouts and clear visual hierarchies, making it easier for both novice and experienced traders to access the app's full range of features. This improvement reduces the learning curve for new users while increasing efficiency for seasoned traders.
A standout addition to the LBank Mobile App is the integrated mobile wallet. This feature combines the security of a standalone cryptocurrency wallet with the convenience of direct access to LBank's exchange services. Users can now manage their assets, perform trades, and securely store their cryptocurrencies within a single application, eliminating the need to switch between multiple apps.
Security remains a top priority in the 2024 update. The app continues to employ two-factor authentication (2FA) and incorporates additional security measures to protect user accounts and assets. These enhancements work in tandem with the app's overall design to maintain data integrity and transaction security.
The LBank Mobile App retains its comprehensive trading platform capabilities. Users can access real-time market data, including detailed price charts, trading volumes, and order book information. The app supports a wide array of cryptocurrency trading pairs, catering to diverse investment strategies and portfolio management needs.
Asset management features have been further refined in the 2024 update. Users can easily review account balances, transaction histories, and current holdings. The app facilitates quick deposits and withdrawals, streamlining fund management. Advanced features such as staking and OTC trading remain accessible, providing users with expanded opportunities within the cryptocurrency market.
Customer support integration continues to be a key component of the LBank Mobile App. Users can access help and support services directly through the app, ensuring assistance is readily available when needed. This feature underscores LBank's commitment to user satisfaction and platform reliability.
The 2024 update to the LBank Mobile App represents a significant step forward in mobile cryptocurrency trading. By combining advanced features with improved usability and integrated wallet functionality, LBank has created a more powerful and user-friendly mobile trading experience. These enhancements position the app to meet the evolving needs of cryptocurrency traders in an increasingly mobile-centric digital economy.
LBank Markets
LBank Markets focuses on crypto-to-crypto trading pairs. This cryptocurrency exchange avoids fiat currency support. LBank Markets offers over 40 cryptocurrencies for trading. Six distinct crypto markets exist on the platform. The exchange keeps adding new cryptocurrencies, increasing its total offerings.
Currently, the available cryptocurrency markets and their respective trading pairs are as follows:
- Tether (USDT): 8 cryptocurrency pairs
- Bitcoin (BTC): 22 cryptocurrency pairs
- Ethereum (ETH): 36 cryptocurrency pairs
- Qtum (QTUM): 7 cryptocurrency pairs
- Bitshares (BTS): 2 cryptocurrency pairs
- Neo (NEO): 3 cryptocurrency pairs
LBank Fees
LBank Fees, central to the appeal of this cryptocurrency exchange, attract traders with their structure. In 2024, LBank Fees continue to offer competitive rates for trading and withdrawals. Let's delve into LBank's current fee schedule and explore recent updates affecting user costs.
Trading Fees
Trading Fees are charged by LBank for different activities. Trading Fees vary for spot, futures, and leveraged token trading on LBank. These Trading Fees affect trader costs and profits. The exchange's fee structure impacts all transactions on LBank.
Update 2024: spot trading on LBank incurs a flat fee of 0.09% for both makers and takers. This rate applies to all spot transactions, regardless of trading volume or user status. Traders should factor this cost into their strategies when buying or selling cryptocurrencies on the platform.
Futures trading at LBank involves a tiered fee system. Takers pay 0.06% while makers pay 0.02% per trade. Additionally, LBank charges a 0.2% transaction fee on futures trades. A daily management fee of 0.1% also applies to open positions. These fees accumulate and can affect the profitability of futures trading strategies.
For leveraged tokens, LBank sets maker and taker fees at 0.02% each. The exchange also imposes a management fee based on the leverage amount. This fee, typically 0.1% per day, covers funding rates, trading fees, and other costs associated with maintaining leveraged token portfolios. Traders using leveraged tokens should monitor these fees closely to understand their impact on returns.
LBank fees are subject to change. Users should check for updates to LBank's fee structure in the following months of 2024. LBank's fee updates affect spot, futures, and leveraged token trading. Traders should follow LBank announcements for the latest fee information.
Check LBank fees: https://www.lbank.com/fee/trading
Deposit and Withdrawal Fees
LBank does not charge deposit fees for cryptocurrencies. Users can deposit digital assets to LBank without cost. LBank's free deposit policy applies to all supported cryptocurrencies. To use LBank, traders must obtain crypto elsewhere first. LBank accounts accept only cryptocurrency deposits, not fiat. New users should understand LBank's crypto-only deposit system. This LBank policy influences how traders fund their accounts.
For users without cryptocurrencies, LBank provides an alternative option. Users can purchase cryptocurrencies using credit and debit cards through third-party providers like Simplex, Banxa, and Coinify. These providers support over 149 fiat currencies. However, the convenience of using these services comes with considerable fees. It is recommended to use these services only if necessary, to minimize expenses.
LBank charges different withdrawal fees for each cryptocurrency. LBank's withdrawal system supports only digital assets, not fiat currency. When withdrawing from LBank, Bitcoin costs 0.0005 BTC. LBank sets Ethereum withdrawals at 0.001 ETH. For Solana, LBank's fee is 0.02 SOL. LBank imposes a $20 USDT fee for ERC-20 USDT withdrawals. Users should check LBank's current withdrawal fees before transactions.
It is crucial to note that withdrawal fees on LBank may change over time. Therefore, users should always check the most current information before initiating any withdrawal transactions. This practice ensures that users are aware of the latest fees and can plan their transactions accordingly.
LBank Security: Is It Safe?
LBank Security stands at the forefront of the exchange's priorities in 2024. Its robust defense system hinges on two-factor authentication for all account activities. Users must input a code from an app or SMS, going beyond simple passwords. Withdrawal whitelists add another layer to LBank Security. Users can pre-approve specific addresses, blocking unauthorized fund transfers. This defense strategy cuts theft risk sharply. LBank's commitment to safeguarding user assets shines through these measures.
The platform's asset management strategy combines hot and cold wallets. Hot wallets, connected to the internet, facilitate quick transactions, while cold wallets provide secure offline storage for the bulk of user funds. In a move towards transparency, LBank regularly releases Proof of Reserves data. This allows users to verify the exchange's solvency and confirm that their assets are fully backed.
Regulatory compliance strengthens LBank's security posture in 2024. The exchange holds a Virtual Asset Service Provider registration in Italy, permitting it to offer crypto custody services. In North America, LBank is registered as a Money Services Business with both FinCEN in the United States and FINTRAC in Canada. These licenses demonstrate LBank's commitment to operating within legal frameworks, adding an extra layer of trust for users concerned about the safety of their digital assets.
Lbank Support
In 2024, LBank Support aims to improve for English speakers. While current English FAQ and Contact pages are missing, LBank Support recognizes this gap. Response times for English queries need work. LBank Support staff are enhancing their English skills to serve users better. The exchange is committed to upgrading LBank Support for English-speaking customers. With user feedback, LBank Support can evolve to meet the needs of this important group.
LBank Support shines for Mandarin speakers. They enjoy full access to helpful resources. An in-depth FAQ page caters to their needs. LBank Support offers WeChat as a handy contact method. Mandarin users find LBank Support efficient and thorough. This level of care shows LBank Support's potential to serve all users well.
⏩ LBank Invitation Code 2024: 38Q0T
⏩ Bonus: 255 USDT + 50% discount fees
LBank Bonuses
LBank Bonuses shine in 2024, offering users many paths to boost crypto earnings. These rewards go beyond basic trading. LBank Bonuses now include new tasks for extra income. Active traders find LBank Bonuses appealing. Those wanting passive income see value too. The variety in LBank Bonuses shows the exchange cares about user engagement. Each bonus structure reflects this commitment.
The LBank Earning program stands out as a key feature for users looking to maximize returns on idle funds. Through DeFi mining and staking options for popular cryptocurrencies like Bitcoin and Ethereum, users can generate income without locking up their assets. This flexibility allows for immediate profit earning and the freedom to withdraw funds as needed. The program's design reflects LBank's understanding of users' need for liquidity in the volatile crypto market.
LBank Bonuses extend to specific user actions, incentivizing both new and experienced traders. New users can earn 5 USDT in Bitcoin by making their first crypto credit card purchase of $100 or more. For more active traders, LBank rewards cumulative spot trades totaling $1000 with a 20 USDT cashback card. These targeted bonuses demonstrate LBank's strategy to attract and retain users by offering tangible rewards for platform engagement.
LBank Sign Up Bonus
LBank Sign Up Bonus rewards new users generously. Use invitation code “38Q0T” for ongoing fee cuts and a 50% discount. The LBank Sign Up Bonus offers up to $225 USDT for newcomers. This LBank Sign Up Bonus saves money and boosts earnings. Refer friends to multiply your LBank Sign Up Bonus benefits. Users win, LBank grows – all thanks to the LBank Sign Up Bonus.
LBank Sign Up Bonus step by step:
- Access the LBank registration page via the provided link containing our invitation code.
- Complete the registration form by entering your email, password, and country.
- Input the LBank invitation code “38Q0T” in the designated field.
- Solve the captcha and consent to the terms and conditions.
- Click on “Sign Up” to create your account.
- Verify your email by clicking on the confirmation link sent by LBank.
- Log in to your LBank account, and your referral bonus will be applied automatically.
⏩ LBank Invitation Code 2024: 38Q0T
⏩ Bonus: 255 USDT + 50% discount fees
LBank FAQs
What is the LBank invitation code?
The LBank invitation code is “38Q0T“.
Who owns LBank?
Superchains Network Technology Co. Ltd. is a Chinese company that owns and operates the Exchange. LBank Exchange is headquartered in Hong Kong and mainly caters to the Asian and Chinese markets due to the stringent regulations in China regarding cryptocurrencies, initial coin offerings, and transactions.
Is LBank legit?
LBank is a reputable cryptocurrency exchange, holding licenses from regulatory bodies such as FinCEN in the US, FINTRAC in Canada, and VASP in Italy.
Can I use LBank in the US?
Yes, individuals from the United States can utilize LBank's services. The platform is licensed by the Financial Crimes Enforcement Network (FinCEN) in the US.
Is LBank allowed in USA?
LBank does not accept or offer services to individual accounts belonging to current residents of the United States of America and the Chinese Mainland, nor to corporate accounts of entities located, established, or residing in the United States of America and the Chinese Mainland.
Is LBank a Chinese company?
Where is LBank headquartered? LBank's headquarters are located in Shanghai, Shanghai, People's Republic of China.
Is it safe to use LBank?
LBank implements various security measures, including email and mobile verification, KYC procedures, two-factor authentication (2FA), anti-phishing codes, device management, and withdrawal address whitelisting. However, it has yet to provide proof of reserves, a practice common among many other exchanges.
Can I use LBank without KYC?
LBank is a worldwide cryptocurrency exchange. It offers a wide selection of digital assets to trade, all of which are accessible without KYC verification. This feature makes it an attractive option for traders looking for privacy and a quick start to their trading journey.
Is LBank a US company?
LBank is not headquartered in the United States. As per our review, it operates from Indonesia and maintains offices in multiple countries. Despite this, LBank serves a global user base and holds licenses from various entities, including those in the US.
Does LBank have an app?
Our intuitive LBank app features user-friendly navigation buttons tailored for new traders. The interface is designed to facilitate seamless trading experiences for both novice and seasoned users alike, empowering them to manage their daily trading activities independently.
Can you withdraw money from LBank?
Once you're logged into your LBank account, head to the “Wallet” section. From there, click on the “Withdraw” button to initiate a withdrawal.