What Is LBank?
LBank is a cryptocurrency trading platform that focuses on the Asian market. The platform allows for crypto-crypto spot trading. It also allows for fiat-crypto trading. The best thing about the exchange is that it has many altcoins for traders and most of them are relatively cheap.
LBank Global Bitcoin Cryptocurrency Trading Exchange Benefits
Bank Transfers And Fiat Supported
The exchange accepts fiat currency transfers in dollars and Chinese Yuan. Users can directly withdraw or deposit the money into their bank accounts. This is very convenient for traders.
Trading at LBank is cheap due to the low cost of trading. The fees are also low compared to the fees charged by other exchanges. The exchange charges a 0.10% flat fee on all the trades making the exchange one of the cheapest in the market. Additionally, deposits to the exchange are free while withdrawals are charged at competitive prices of 0.01 ETH and 0.1% QTUM.
The trading volumes of most of the digital coins offered at the exchange are high enough which means that LBank has enough liquidity.
Altcoins That You Can Trade In
The exchange has more than 40 digital coins that are available for trading. You can trade in the popular coins such as Bitcoin, Ethereum, Litecoin, Zcash, Qtum, Ethereum classic, and also in the less popular coins including Bodhi, Nebulas, and VeChain among others.
User-Friendly Trading Platform
The developers of this exchange had the traders in mind when coming up with their web-based interface. It is nice and simple. It also has some advanced tools to help you make the right trading decision. These tools include technical analysis indicators, and a market depth window among others. The exchange groups the trading instruments into four categories and you can trade against BTC, QTUM, BTS, and ETH.
Just like in other exchanges you can trade anonymously at LBank provided there is no fiat currency involved, and you are trading within a given limit.
LBank app is available for IOS and Android phones. This is a good thing for traders, as of today, many traders prefer to use their smartphones for cryptocurrency trading. Any platform that has a mobile app is bound to get more clients.
Some of the limitations of the exchange are that LBank focus is on Asian or the Chinese traders. The platform also has minimal details on its website regarding its trading conditions and the background of the company. The language that is mainly used on the exchange website is Chinese and minimal details are provided in English. Additionally, you have to navigate the website to get essential information such as the mode of payment, bank transfer fees or anything about the company.
Further, LBank has no margin trading. Lack of margin trading provides very little leverage for the traders. Traders might be discouraged by this characteristic as and choose to trade Bitcoin speculatively on forex brokers platforms that offer leverage.
Although LBank is more focused on the Chinese market, it offers low-cost trading with a wide range of digital coins. The web-based interface is also user-friendly making it easy for both beginners and novice traders to use the platform. The sufficient liquidity of this platform is also a plus.