Table of Contents

• What is LBank Exchange?
• The pros of LBank:
• The cons of LBank:
• LBank exchange review 2024: Key features and offerings
• Spot trading
• Derivatives trading
• Grid trading
• Crypto lending
• Staking
• Crypto ETFs
• P2P trading
• NFT marketplace
• LBank fees
• LBank security features
• LBank supported countries
• LBank cryptocurrencies and altcoins
• LBank user experience
• LBank review FAQs
• Is LBank a good crypto exchange?
• Is LBank safe and legit?
• Where is LBank located?
• Is LBank available to US users?
• How much does LBank charge to withdraw money?
• What are the fees on the LBank exchange?
• LBank review verdict: A deep dive into LBank exchange's offerings, fees, and more

LBank is a cryptocurrency exchange that has been growing in popularity since its founding in 2015. While not one of the largest exchanges by volume, LBank stands out for its wide selection of altcoins and competitive trading fees. In this comprehensive LBank review, we'll take an in-depth look at the exchange's features, security practices, and user experience to help you determine if it's a good fit for your needs.

LBank has managed to attract over 5 million users despite being a lesser-known name compared to giants like Binance and Coinbase. Something it offers that draws users in is a selection of over 450 coins for trading- one of the largest rosters of any centralized exchange.

What is LBank Exchange?

LBank Exchange was founded in 2015 by the Chinese company Superchains Network Technology. While based in China, LBank has established headquarters in Hong Kong to comply with the country's strict laws around cryptocurrency.

The exchange supports fiat currency trading between its native token, LBK Token, and over 150 local currencies. However, it primarily operates as a cryptocurrency-to-cryptocurrency platform, currently hosting over 590 coins and stablecoins for digital asset trading.

Key details about LBank:

• Founders: Allen Wei (CEO) and Eric He
• Headquarters: Hong Kong
• Established: 2015
• User Base: Over 5 million
• Supported Coins: 590+
• Trading Pairs: 610+

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LBank exchange review 2024: Key features and offerings

LBank stands out for its diverse selection of financial products and services. Let's explore some of the platform's core offerings.

Spot trading

Spot trading allows the direct buying and selling of cryptocurrencies. LBank offers nearly 600 coins and tokens available for spot trading against stablecoins like USDT and against cryptocurrencies like Bitcoin.

The exchange has deep liquidity, which is essential for slippage-free spot trades. Active traders will appreciate LBank's fast matching engine and order execution speeds.

Derivatives trading

For advanced traders, LBank provides futures, options, and leveraged token trading. This allows speculating on crypto prices without owning the underlying assets.

Supported derivative contracts include BTC, ETH, LTC, FIL, and more. Leverage on futures goes up to 125x. Options contracts are USDT-margined.

Derivatives trading brings potential for big profits but also increased risk. It's best suited for experienced traders.

Image source: LBank.com

Grid trading

LBank offers grid trading bots, which automate buying at lows and selling at highs within a preset price channel. It's a classic quantitative trading strategy suitable for volatile markets.

Crypto lending

Users can put their idle crypto assets to work and earn attractive interest rates through lending on LBank. No lock-up periods give added flexibility.

Staking

For supported PoS coins, LBank allows staking to earn crypto passive income. It's a simple way to earn crypto rewards based on holdings.

Crypto ETFs

LBank provides another advanced trading product in the form of crypto exchange-traded funds. Crypto ETFs give exposure to a basket of cryptocurrencies through a single investment fund traded on the exchange.

P2P trading

The peer-to-peer trading platform allows buyers and sellers to trade crypto directly between their LBank accounts. This provides easy on- and off-ramps between fiat and crypto. At this point, it is worth noting that LBank's P2P offering, while good, is not exactly top tier – you can check our list of the best P2P crypto exchanges for more information.

NFT marketplace

LBank operates its own marketplace where users can buy, sell, and trade NFTs (non-fungible tokens). NFT creators can list their crypto collectibles for sale to other users.

Image source: LBank.com

LBank fees

LBank keeps trading fees competitive at 0.10% for both makers and takers. This is lower than the global industry average of around 0.20- 0.25%. The flat fee structure helps avoid any hidden costs.

Deposits are free on LBank, but withdrawals come with network-specific fees, such as 0.001 BTC for Bitcoin withdrawals. Always check withdrawal fees before initiating a crypto transfer from LBank.

LBank security features

LBank implements standard security features, including email/2FA verification, SSL encryption, DDoS protection, and cold wallet storage. Keys for the cold wallets are spread out geographically as an additional safeguard.

Mandatory KYC verification adds an extra layer of security to ensure all accounts are legitimate.

The exchange has never suffered any major security breaches since launching over 8 years ago.

LBank supported countries

LBank accepts users from over 200 countries globally. The platform is fully available to traders from the United States, Canada, Australia, Singapore, and across Europe.

The exchange supports an impressive range of over 149 fiat currencies for deposits and withdrawals.

LBank cryptocurrencies and altcoins

With over 590 supported cryptocurrencies, LBank stands out among the top crypto exchanges when it comes to altcoin variety.

Major cryptos like BTC, ETH, LTC, XRP, DOGE are available alongside smaller cap gems like DOT, SOL, ADA, ATOM, ALGO, MATIC, and many more.

The sheer variety gives traders an opportunity to diversify and hedge against volatility in the crypto markets. LBank makes it easy to gain exposure to promising emerging tokens and DeFi projects.

LBank user experience

The exchange offers desktop and mobile trading through its iOS and Android apps. The interface is user-friendly with a straightforward layout.

LBank provides solid liquidity across trading pairs. Order books remain filled, and the matching engine facilitates quick order execution. This makes a big difference for active crypto traders.

While LBank covers the basics well, the exchange lacks more advanced charting and order management features offered on platforms like Binance. But for most traders, LBank provides a smooth and easy trading experience.

LBank review FAQs

Let's go over some frequently asked questions about the LBank exchange.

Is LBank a good crypto exchange?

Yes, LBank is considered one of the top exchanges thanks to its low fees, extensive altcoin support, derivatives trading, lending, staking, and other key features. The platform offers a lot of value.

Is LBank safe and legit?

LBank implements standard security measures, including cold wallet storage, 2FA, and mandatory KYC checks. The exchange has operated without incident since 2015, cementing its reputation as a legitimate platform.

Where is LBank located?

LBank Exchange is headquartered in Indonesia but owned by a Chinese parent company. It primarily serves the Asian markets but accepts traders globally.

Is LBank available to US users?

Yes, LBank is available to traders in the United States. The platform accepts users from over 200 countries worldwide.

How much does LBank charge to withdraw money?

LBank charges a variable withdrawal fee depending on the cryptocurrency. For example, Bitcoin incurs a 0.001 BTC withdrawal fee. Always check the latest withdrawal fees before initiating any crypto transfers.

What are the fees on the LBank exchange?

LBank charges a competitive 0.10% flat fee for both makers and takers on the platform. There are no deposit fees. Withdrawal fees vary by crypto.

LBank review verdict: A deep dive into LBank exchange's offerings, fees, and more

In the crowded world of cryptocurrency exchanges, LBank stands out as a comprehensive trading platform with extensive altcoin support, compelling featured products, and competitive fees.

While the exchange excels in many aspects, there is room for improvement when it comes to customer support and adding more advanced trading features. However, for traders seeking exposure to new small-cap altcoins and DeFi tokens, LBank is a top choice. The sheer variety of cryptocurrencies available is a distinguishing factor. Throw in trading perks like P2P, derivatives, staking, and lending, and it's clear why LBank remains a popular exchange with Asian traders.

The platform offers a great experience for both novice and experienced traders alike. For a smooth account setup, low fees across the board, and access to the latest crypto assets, LBank is absolutely worth considering. If you value security above else, check our selection of the safest cryptocurrency exchanges.