LBank Exchange: Best Cryptocurrency Exchange to Buy Bitcoin

Overview of Lbank exchange

Lbank is a cryptocurrency exchange that provides trading pairs for different digital assets between customers from around the world using cryptocurrencies. To offer consumers from all around the world expert bitcoin asset management solutions, the Exchange was established in 2016. Superchains Network Technology Co. Ltd. is a Chinese company that owns and runs the Exchange.

The LBank exchange has its headquarters in Hong Kong and primarily services the Asian and Chinese markets because China's regulations governing cryptocurrencies, initial coin offerings, and deals are quite strict. Lbank has consumers from all over the world and provides its services in 2 languages that are Mandarin Chinese and English.

The Lbank Exchange is not a licensed exchange and is not regulated by any respectable regulatory bodies because it is situated in Hong Kong. This does not imply that the exchange is not knowledgeable and reliable, though, as most bitcoin exchanges operate beyond the purview of formal regulation. How do you choose the best cryptocurrency exchange when there are so many options available? In the subsequent article, we will examine in detail the components of this cryptocurrency exchange to determine what makes Lbank unique from its rivals and whether or not they can be relied upon.

The dispute over the launch date of the Platform 

According to the exchange's English-language website and company description, it was founded in October 2016, yet its Twitter account and domain were only registered in September 2017. The company's first trade history was also discovered in September 2017. Perhaps that is merely a typo? I seriously doubt it! 

Advantages of Lbank Exchange

Disadvantages of Lbank Exchange

Fees

Trading at Lbank is relatively inexpensive, especially when compared to other well-known cryptocurrency exchanges. A single cost of 0.10% of every trader includes both the maker and taker fees. Given that the majority of top exchanges charge at least 0.20-0.25% for each trade that is incredibly low. Deposits are free of charge, while withdrawals include a cost that varies from cryptocurrency to cryptocurrency. Although this withdrawal cost is not listed on the website’s fee page, customer reviews indicate that it is relatively modest. 

Exchange Markets

LBank is solely a cryptocurrency exchange, hence no fiat currencies are supported; instead, they only enable crypto-to-crypto trading pairs. And over 40 different cryptocurrencies can be exchanged on the Lbank exchange in 6 separate crypto markets. Since new cryptocurrencies are constantly being introduced, this amount will probably alter in the future. The number of trading pairs and cryptocurrency markets that are accessible are as follows: 


Countries Supported by LBank

Although the Lbank exchange performs significantly better in terms of crypto compatibility, it falls short in terms of country support. Since it is based in China, there can be legal limitations in some places.

Yet, it continues to offer high-quality services in other nations, including:


Liquidity Review

After reviewing the six most active pairings—BTC/USDT, QTUM/BTC, QTUM/ETH, QTUM/USDT, EOS/ETH, and ZEC/ETH—which make up 70–80% of LBank's total 24-hour trade volume—we found that each pair's daily charts have various periods of the suspiciously consistent transaction volume until the middle of July 2018. Do you understand our opinions? Such volume performance is consistent with artificiality. Since the daily volume values started to fluctuate more after the middle of July 2018, we suspect that the volume was manipulated to give the impression of strong liquidity. Also, there are several discrepancies between price changes and trading volume performance. Yet, LBank's graphs constantly show low volume during moments of high volatility and huge volume pike in times of lower volatility. Under typical market conditions, trade volume surges along with strong price jumps or declines. However, the regularity of transactions, particularly sums, appears to be purposefully random as well. 

Security and Equity

Since LBank's founding in 2016, there have never been any known hacks or money losses. The exchange uses cutting-edge security measures, including SSL-encrypted servers, two-factor authentication for logins and transactions, and the storage of customer cash in both cold and hot wallets. All the users worldwide receive the same services and are also treated with equality. Users can stay anonymous when trading on their site and are not needed to provide any kind of identification. Even though the website claims to support the English language, we considered it unfair that some features are only available in Mandarin Chinese. 

Consumer Services

Because the website’s FAQ page and contact page do not support the English language. Lbanks services are quite limited for users who speak English. Also when contacting assistance in English, a representative respond very slowly in very basic, broken English. Although according to the reviews, the support for Mandarin speakers is considerably better and faster. They get access to the FAQ page and other resources. Consumers who speak Mandarin can now contact customer services through WeChat. Overall consumers were dissatisfied with the level of assistance provided to English-Speaking individuals.  

Final Thoughts

A lot of customers in the Asian markets are becoming interested in LBank exchange, an intriguing cryptocurrency exchange that is expanding and rising. They provide a huge selection of cryptocurrencies and markets to trade in, along with very reasonable fees. Unfortunately, because there is very little help, the exchange is not ideal for English-speaking traders. LBank Exchange can be an excellent choice for you if assistance is not a priority for you. Its exchange platform is user-friendly and nevertheless has a few cutting-edge tools and capabilities. 

Now as concluding the article, we hope that it was able to provide all the answers that you may have about Lbank exchange.