Lykke is a global marketplace built on the blockchain. Find out everything you need to know about the Lykke Exchange today in our review.
What Is Lykke?
Lykke is a cryptocurrency exchange that lets you trade bitcoin, Ethereum, FX, and digital assets. You can access the platform through your web browser or your mobile device. It’s available for both Android and iOS (you download the Lykke Wallet to get started).
Lykke offers several unique benefits over the competition. There’s 0% broker commission, for example, and low spreads thanks to a matching engine with spread priority. The exchange also offers guaranteed execution, immediate settlement, and direct ownership guaranteed by the blockchain.
Lykke is based in Switzerland. The company has been in headlines this past week for recently adding Ethereum to the platform. Today, you can trade a wide variety of fiat currencies – including the Swiss Franc (CHF) for cryptocurrencies like bitcoin.
The company also has its own Lykke coin (LKK), where each coin represents a 1/100th share of the company.
The exchange launched in 2015. According to CoinMarketCap.com, the exchange is the 49th biggest cryptocurrency exchange by volume over the past 24 hours (as of June 9, 2017).
The exchange’s highest-liquidity pairs include BTC/LKK, BTC/USD, LKK/CHF, and ETH/LKK.
Lykke Exchange Features
Lykke offers all of the following features in its mobile exchange:
- Mobile Support: The Lykke Wallet is available for iOS and Android for free.
- 0% Commission: Lykke offers zero broker commission.
- Low Spreads: Lykke has a matching engine with spread priority.
- Guaranteed Execution: Trade at human speed. Best execution guaranteed.
- Immediate Settlement: “Your trade is settled in minutes”.
- Direct Ownership: Guaranteed by the blockchain.
- 100% Security: Orders are approved by fingerprint. Your private key is stored on your device.
- Buy and Sell Lykke: The Lykke Exchange is the only place where you can buy and sell Lykke (LKK).
How Does The Lykke Wallet Work?
The Lykke Wallet, like most other exchange wallets, lets you store your cryptocurrencies while also trading those cryptocurrencies however you like. You’ll need to use the Lykke Wallet if you want to invest in different currencies over the Lykke Exchange, if you want to buy shares, or if you want to issue your own shares.
The Lykke Wallet is free to use, and the wallet has a 0% commission rate. You get started by downloading the app, registering your account, and then depositing funds from your bank card or via bank transfer.
One of the unique things about the Lykke Wallet is that Lykke will email you a signed refund transaction if the exchange is compromised. If the exchange experiences any type of difficulties, you’ll get your money back within two weeks.
Once you’re ready to withdraw money from the Lykke Wallet, you can withdraw it at any time without paying a fee.
Trading With Lykke Exchange
The Lykke Exchange lets you enter the market with three main currencies: USD, CHF, or BTC. You can use these three currencies to trade for a diverse range of assets, including other fiat currencies, other cryptocurrencies, or shares in the company in the form of LKK.
Getting started with Lykke is as easy as visiting Lykke.com, or by downloading the apps for your Android or iOS device.
Lykke has three locations around the world. There’s Lykke AG, registered in Zug, Switzerland. There’s Lykke Corp UK Limited, registered in London. And there’s Lykke Vanuatu Limited, regulated by the Vanuatu Financial Services Commission (VFSC) of Vanuatu.
The company’s goal is to build a global marketplace for the free exchange of financial assets. The company plans to use blockchain technology to eliminate market inefficiencies and promote free access from anywhere in the world.
The company is led by founder and CEO Richard Olsen, described on Lykke.com as “a distinguished pioneer in high frequency finance” who “has been laying the conceptual foundations for Lykke for most of his professional life.”
The company launched in Switzerland in 2015. You can view more information about the company on their LinkedIn page.
Lykke Exchange Conclusion
Lykke is a cryptocurrency exchange that has steadily grown in volume since launching in 2015. The Swiss-based exchange lets you buy and sell a variety of cryptocurrencies and fiat currencies – including unique options like the Swiss France (CHF) and Lykke coins (LKK).
You can trade over the mobile apps, available for iOS and Android, or through the official website at Lykke.com.