A deep dive into the fees and user experience of LBank Exchange
LBank is a crypto exchange founded in 2015. Despite being in the crypto hostile state of China, it has grown steadily since its inception and is now flourishing with more than 120 unique crypto tokens listed on its platform and a daily trading volume of over $1.83 billion. This crypto exchange has grown in popularity, and it is now available in more than 200 regions, with 6.4 million users. The LBank platform is ideal for beginners, thanks to its rapid account setup, responsive customer support, and extensive library of educational materials. With advanced features such as third party integrations for the crypto exchange’s API, trading indicators, and derivative options, it is a great choice for veterans of the industry.
This exchange has been in operation for seven years and so far, hasn’t suffered an attack or lost its user’s wallets, which is a relatively rare feat to accomplish in the blockchain ecosystem. Thanks to the short sign-up sequence paired with minimal documentation requirements, the platform is ideal for crypto traders, especially in Asia. Let us now take a closer look at four key indicators that give us an idea about what makes LBank a great crypto exchange suitable for trading your blockchain assets.
Ease of Access
Despite the challenges crypto platforms typically face across markets, LBank is a successful and trusted crypto exchange, offering multi-device support in the form of apps for both Android and iOS. With the LBank trading app, you can start trading on your computer, move on to your phone, and go back to your computer without facing any synchronization issues with your trades or buy orders.
The exchange utilizes state security features, integrating two-factor authentication and SSL (Secure Sockets Layer) certificates on its website and applications. On the financial side, all crypto stored with LBank has the maximum level of security possible since the crypto exchange uses both hot and cold wallets to make stealing crypto or other blockchain assets impossible. Its ease of use is further exemplified by the presence of educational material for newer traders, preventing them from making classic mistakes that an experienced trader can avoid.
Most crypto exchanges take three kinds of fees, deposit fees, withdrawal fees, and trading fees. The LBank fee system is slightly different, charging two more types of fees called maker fees and taker fees. Despite these additional fees, the overall increase is minimal on an already affordable system since the new fees are just a flat 0.1% on every market order and limit execution.
Trading fees are an affordable 0.1% on each trade, which is effectively nothing compared to some other exchanges. Combined with zero deposit fees and low withdrawal fees, LBank users have a distinct advantage over others. For a full list of withdrawal fees, click here.
LBank has all the major crypto tokens available on its crypto exchange, with a vast selection of altcoins and stable coins, bringing the total number somewhere around a hundred plus, with crypto tokens being added each month. The platform does not support fiat pairs, but rather offers 180+ crypto pairs.
Also, the platform currently accepts 149 fiat currencies for buying crypto, making it one of the most widely accessible platforms. This is further seen in the variety of payment methods accepted, ranging from international choices like MasterCard and Visa to more regional variants such as Australia Post and GoJek, giving users a plethora of options to buy crypto and other blockchain assets.
There’s extensive support for users, beginning with a text-based support center for all possible user questions. The support center also includes educational resources, and reading which often eliminates the need for a support center for most traders.
The platform also provides live support via live chat with their trained executives or through social media, giving each trader the help they need on a case by case basis. Traders can also use email support, reaching LBank at a support email address on its website.
All in all, LBank is a platform for beginners and veterans alike, offering ease of access, minimal fees, variety in tokens, and great customer service. To know more about LBank, click here to visit their website.
Disclaimer: This is a paid post and should not be treated as news/advice.