LBank (lbank.info) - review, trading volume and pairs
LBank is the largest cryptocurrency exchange based in China. The main emphasis s laid on the security. The platform specializes in securing transactions involving the purchase, sale, and exchange of cryptographic assets.
Its functionality is a hybrid of several formats, including C2C trading - a direct exchange made between exchange users. The platform has its own LBCN token for fast and secure coin exchange.
History and prospects lbank.info
October 2016 is considered to be the date of foundation of LBank. It was then when the official website of the exchange (lbank.info world) was presented to the cryptocurrency community. Due to the low commission fee (0.1% per transaction), the exchange immediately found its audience, and today the daily trading volume on the platform is about 1,4 billion dollars with several million users. The customer is offered more than 100 trading pairs, the three most popular pairs of which are ZEC/ETH BTC/USDT and ETH/USDT.
The growth dynamics of LBank suggests considerable prospects for the project. The company is managed by experienced financiers, cryptographers, web engineers and IT specialists who keep up with the news of the crypto-industry and implement innovations in their project. The strategic goal of the LBank team is to provide users with a universal tool that would integrate all the necessary services related to trading digital assets.
And they succeed since today the functionality of LBank includes:
• Exchange transaction;
• Cryptocurrency trading;
• Transactions with fiat money.;
• Bank transfers from the account (for Asian users).
For the convenience of mobile users, the official LBank app for Apple devices and iOS is provided. The exchange's interface has been translated into Chinese, Korean, and English languages. Among fiat currencies available on the exchange are US dollar and Chinese yuan.
Registration and verification
To work on the exchange, you need an account, which can be registered in a couple of minutes. To do this, click on SIGN UP button and enter the contact email address, verification code (sent to the mail for confirmation), password, and promo code (if any). After that, confirm the entered data by pressing SIGN UP, and you will be taken to a page with a window offering to connect 2-factor authentication. It is recommended to activate 2FA. On the LBank platform, there are several "gateways" of authentication:
• Authentication for prepaid and transaction;
• C2 authentication to improve cash outs;
• Linking e-mail addresses;
• Binding your account to your phone number.
Two-factor authentication allows you to increase the security of your account and reduce the probability of unauthorized access to your coins to zero.
Deposit, withdrawal, and trading
Deposit of funds to the exchange balance is possible in fiat and cryptographic currencies. The website offers to deposit money via bank transfer, bank cards, and digital wallets.
Just log in to your account, click "My Account" and press:
• "Deposit" - for account replenishment;
• "Withdraw" - to withdraw funds from the balance;
• "Exchange" - to carry out an exchange transaction.
Trading on the stock exchange is convenient for several reasons. Firstly, the website offers a separate trading platform that provides convenient price monitoring. Secondly, the main tools of technical analysis are available in the trading cabinet, which facilitates forecasting. Thirdly, the assets for trading are divided into 6 trading zones for the user to quickly navigate through the variety of digital assets.
A feature of LBank is the presence of GRAMS digital futures – a rare digital asset that acts as a Telegram Open Network token. There is an increased demand for this asset, but access to it is limited. Therefore, futures, which can be purchased on the LBank exchange, act as a derivative, which partially satisfies this demand. Naturally, the presence of GRAMS open trading futures makes a trading platform one of the kind because it is an extremely rare digital asset.
Advantages and disadvantages of the exchange
Customer feedback gives the most objective idea of what this particular crypto-exchange is.
Systematizing the expert opinions, we can list the advantages of LBank:
• A simple and intuitive interface;
• Reasonable сommission fees;
• Large selection of trading pairs;
• Trading with pairs with fiat money;
• Availability of the mobile version;
• Rich functionality;
• Sound liquidity of assets.
According to users, the main disadvantages of LBank are:
• Low support team motivation;
• No margin trading;
• Unregulated interface.
In general, LBank is considered one of the most advanced cryptocurrency exchanges worthy of the attention of both experienced traders and beginners. Its democratic and open policy, as well as a serious approach to security, determined the success of the project for years to come. See it for yourself by registering an account on lbank.info and testing the possibility of exchange.