LBANK-1234183768572

Founded	2015
Regulation	FINTRAC (Exceeded), FinCEN (Expired)
Supported Cryptocurrencies	150+
Fees	0.02%-0.10%
Funding Methods	Electronic fund transfers, Visa/Mastercard credit, Debit Cards, Cash Deposits (limited to certain areas)
Customer Service	Email: service@lbank.info; business@lbank.info; marketing@lbank.infoLive chat, Social media

LBANK Overview

LBANK, with full name LBANK Exchange (PT LBK TEKNOLOGY INDONESIA), is a top

cryptocurrency

trading platform with operation offices in different countries. Founded in 2015, LBANK provides global users with secure, professional, and convenient products and services, including Cryptocurrency Trading, Derivatives, Staking, NFT, and LBK Labs investment.

LBANK offers a user-friendly platform, advanced trading features, and a wide array of services, including spot trading, grid trading, Futures trading, Staking trading, NTF trading and more, making it a preferred choice for both beginners and experienced traders in the cryptocurrency market.

Pros & Cons

√ Pros	× Cons
• Numerous tradable cryptocurrencies	• Exceeded FINTRAC regulatory license and an expired FINTRAC/FinCEN licenses
• Wide selection of trading options	• Relatively high transaction fees
• Security measures available
• Multiple payments

Pros Revealed

• Numerous Tradable Cryptocurrencies

LBANK offers 150+ cryptocurrencies available for trading, allowing users to access various altcoins and popular digital assets beyond Bitcoin and Ethereum.

• Wide Selection of Trading Options

LBANK provides a diverse array of trading options, including spot trading, grid trading, Futures trading, NFT trading, Staking trading and more. This variety caters to traders with different strategies and risk appetites.

• Security measures available

The platform implements various security measures, such as two-factor authentication and strict privacy policy for user data collecting to protect users' funds and personal information.

• Multiple Payments

LBANK supports 20+ payment methods including Master Card, Visa, Google Play, ApplePay, Bank Transfer, offering users flexibility and convenience in funding their accounts and participating in the cryptocurrency market.

Con Revealed

• Exceeded FINTRAC Regulatory License and expired FINTRAC/FinCEN Regulatory Licenses

LBANK reportedly faced regulatory concerns related to its licenses with the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) and the United States Financial Crimes Enforcement Network (FinCEN). Such concerns could potentially impact its ability to operate in certain jurisdictions and might raise questions about its compliance with regulatory standards.

• Relatively high transaction fees

Compared to some other cryptocurrency exchanges in the market, LBANK's transaction fees are considered relatively high, which may impact traders who prioritize cost-effectiveness. It's essential for users to be aware of these fees and consider them while planning their trading strategies.

Trading	Maker	Taker
Spot	0.10%	0.10%
Futures	0.02%	0.06%

Regulatory Compliance

WikiBit obtains regulatory information through various channels, including official regulatory websites, public records, and direct communication. The platform's team verifies the authenticity of regulatory licenses and certifications by cross-referencing the information from multiple reputable sources.

WikiBit aims to offer reliable and accurate regulatory information to help traders make informed decisions when choosing exchange/token/project.

As of August 2023, LBANK reportedly holds an exceeded Common Financial Service License from the Financial Transactions and Reports Analysis Centre of Canada (FINTRAC) with the license no. M22603388, an expired MSB license the Financial Crimes Enforcement Network (FinCEN) with License Number 31000165522186 and an expired Investment Advisory License regulated by FINTRAC with the license number M20358664.

Security

LBANK has implemented several security measures to enhance the safety of its platform and user funds.

• Two-factor Authentication

LBANK has implemented Two-factor Authentication (2FA). With 2FA, users are required to provide an additional verification step, typically through a mobile app or SMS code, in addition to their regular login credentials. This adds an extra layer of security and reduces the risk of unauthorized access to user accounts, ensuring a safer and more secure trading experience for its users.

• Strict privacy policy

At LBANK, the implementation of a comprehensive privacy policy plays a pivotal role in fortifying their security measures. This policy is designed to safeguard the personal and financial information of their users, ensuring that sensitive data remains confidential and is not shared with unauthorized parties.

While LBANK has taken significant steps to enhance security and user protection, no exchange or platform is entirely immune to risks. Cryptocurrency trading inherently carries certain risks, and users should take additional precautions to safeguard their assets.

Some recommended practices include using strong passwords, enabling 2FA, being cautious of phishing attempts, and storing a significant portion of your funds in secure hardware wallets rather than on the exchange.

Trading Market

LBank is a leading global digital asset trading platform that offers a wide range of trading assets, including:

• Spot trading: This is the most common type of trading, where users buy and sell cryptocurrencies on the spot market. LBank offers over 1,000 spot trading pairs, including popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), and Litecoin (LTC), as well as smaller altcoins.

• Margin trading: This allows users to trade cryptocurrencies with leverage, which can amplify profits but also losses. LBank offers margin trading for over 300 cryptocurrencies, with leverage up to 100x.

• Derivatives trading: This includes futures and options contracts, which allow users to speculate on the future price of cryptocurrencies. LBank offers derivatives trading for a variety of cryptocurrencies, including BTC, ETH, and DOGE.

• DeFi trading: This allows users to trade decentralized finance (DeFi) tokens and assets on LBank's DeFi trading platform. LBank offers over 300 DeFi trading pairs, including popular DeFi tokens such as Uniswap (UNI), Aave (AAVE), and SushiSwap (SUSHI).

In addition to these trading assets, LBank also offers a variety of other services, such as staking, lending, and mining.

Here are some examples of specific trading assets on LBank:

• Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH), Dogecoin (DOGE), Litecoin (LTC), Cardano (ADA), Solana (SOL), Polkadot (DOT), Avalanche (AVAX), Terra (LUNA), and Chainlink (LINK)

• DeFi tokens: Uniswap (UNI), Aave (AAVE), SushiSwap (SUSHI), PancakeSwap (CAKE), Yearn Finance (YFI), and Compound (COMP)

• Stablecoins: Tether (USDT), USD Coin (USDC), Binance USD (BUSD), and Dai (DAI)

• NFT tokens: Bored Ape Yacht Club (BAYC), CryptoPunks, and Meebits

LBank also offers a variety of trading pairs for fiat currencies, such as USD, EUR, and GBP.

Cryptocurrencies Available

LBANK offers a vast selection of over 150 cryptocurrencies for trading on its exchange. It also supports a variety of more than 100 fiat currencies, including USD, EUR, AUD, GBP, HKD, and INR, making it accessible to users from various regions.

Some of the notable cryptocurrencies available on LBANK include Bitcoin (BTC), Ethereum (ETH), Tether (USDT), LBANK Coin (BNB), LBANK USD (BUSD), Cardano (ADA), Polkadot (DOT), SHIBA INU (SHIB), USD Coin (USDC), Dogecoin (DOGE) and TRON (TRX), among many others.

Services

LBank also offers a variety of services including:

• Referral Service: LBANK's referral program enables users to invite friends and earn rewards. By referring others to the platform, users can benefit from incentives and bonuses.

• Affiliate Service: LBANK provides an affiliate program allowing users to earn rewards by promoting the platform. Affiliates can receive commissions based on the trading activity of referred users.

• Token Listing: LBANK facilitates the listing of various tokens on its platform, providing projects with exposure to a global user base.

• LBank Labs: LBank Labs serves as a venture capital fund, investing in early-stage blockchain projects. This initiative supports the development and growth of innovative projects within the blockchain space.

• Galaxy Club: LBANK's Galaxy Club offers exclusive benefits and privileges to its members, enhancing the overall trading experience.

• Ambassador Program: LBANK's Ambassador Program involves individuals promoting the platform, fostering community engagement, and earning rewards for their contributions. Ambassadors play a vital role in expanding LBANK's reach and user base.



LBANK APP

The LBank app is a mobile app that allows users to trade cryptocurrencies, manage their portfolios, and access educational resources. The app offers a variety of features, including:

• Spot trading: Buy and sell cryptocurrencies at the current market price.

• Margin trading: Trade cryptocurrencies with leverage, which can amplify profits but also losses.

• Derivatives trading: Trade futures and options contracts on cryptocurrencies.

• DeFi trading: Trade decentralized finance (DeFi) tokens and assets.

• Staking and lending: Earn interest on your cryptocurrencies by staking them or lending them to other users.

• Educational resources: Access a variety of educational articles, blog posts, videos, and webinars on cryptocurrency and trading.

To download the LBank app, you can visit the LBank website or search for the app in the App Store or Google Play.

Here are the steps on how to download the LBank app:

• Go to the LBank website or search for the app in the App Store or Google Play.

• Click on the “Download” button.

• Follow the on-screen instructions to install the app.

• Once the app is installed, open it and create an account.

• Once you have created an account, you can start trading cryptocurrencies, managing your portfolio, and accessing educational resources.

Note: The LBank app is currently not available in some countries. Please check the LBank website for a list of supported countries.



How to Open an Account？

Here is a step-by-step guide on how to open an account on LBank:

• Go to the LBank website and click on the “Sign Up” button in the top right corner of the page.

• On the Sign Up page, enter your email address and create a password.

• Make sure you agree to the LBank Terms of Use and Privacy Policy by clicking on the checkbox.

• Once you have entered all the required information, click on the Sign Up button.

• You will receive a verification email from LBank. Click on the link in the email to verify your account.

• Once your account has been verified, you can log in and start trading.

Note: LBank may require users to complete additional verification steps, such as KYC and AML verification, before they can start trading. Please refer to the LBank website for more information.

How to Buy Cryptos？

Here is a step-by-step guide on how to buy Cryptos on PC and app:

PC

• Go to the LBank website and create an account.

• Once you have created an account, log in and click on the “Buy Crypto” button.

• On the Buy Crypto page, you can select the cryptocurrency you want to buy and the fiat currency you want to use.

• You can also enter the amount of fiat currency you want to spend or the amount of cryptocurrency you want to buy.

• Once you have entered all the required information, click on the Confirm button.

• LBank will then process your payment and deposit the cryptocurrency into your wallet.



App

• Download the LBank app from the App Store or Google Play.

• Open the app and create an account.

• On the Login page, you can enter your email address and password to log in to your existing LBank account.

• If you do not have an LBank account, you can click on the Sign Up button to create a new account.

• Once you have logged in, click on the Buy Crypto button.

• On the Buy Crypto page, you can select the cryptocurrency you want to buy and the fiat currency you want to use.

• You can also enter the amount of fiat currency you want to spend or the amount of cryptocurrency you want to buy.

• Once you have entered all the required information, click on the Confirm button.

• LBank will then process your payment and deposit the cryptocurrency into your wallet.



Fees

LBANK provides displays the Maker-Taker fee structure for spot trading and contract trading.

In spot trading on LBANK, both the Maker fee and Taker fee are set at 0.1% of the transaction value. This means that whether a trader is placing an order that adds liquidity to the market (Maker) or taking liquidity from existing orders (Taker), the fee remains the same.

On the other hand, in futures trading, the fee structure is slightly different. For Maker orders in futures trading, a fee of 0.02% is applied, while for Taker orders, the fee is set at 0.06%. This difference in fees incentivizes traders to provide liquidity to the market by placing Maker orders, as they are rewarded with a lower fee compared to Taker orders.

Trading	Maker	Taker
Spot	0.10%	0.10%
Futures	0.02%	0.06%

In summary, LBANK implements a tier-based maker and taker-maker fee system, allowing traders with higher trading volumes to benefit from reduced fees and additional discounts on specific trading pairs.

Funding Methods

LBANK provides a diverse range of over 20 payment methods to cater to the preferences and convenience of its users. Whether it's through traditional options like Master Card, Visa, and Bank Transfer or modern digital payment solutions such as Google Play and ApplePay, LBANK ensures a seamless and efficient transaction process.

LBANK involves the use of third-party services, namely Banxa, XanPool, MoonPay, Mercuryo, Simplex, Paxful, Coinify.

The purchase limit refers to the maximum amount of cryptocurrency or digital assets that a user can buy within a specific time frame, typically set by the payment service provider or cryptocurrency exchange. Different platforms have varying purchase limits to ensure compliance with regulatory requirements and prevent potential misuse. For example, Banxa sets daily and weekly limits in euros. Simplex has a daily and monthly limit in USD, and Paxful likely imposes its own purchase limits as well. Users should be aware of these limits before making transactions to avoid exceeding them and adhere to the platform's rules and regulations.

Compare to Other Cryptocurrency Exchanges

Exchange
Fees	0.02%-0.10%	0.20%	0% - 3.99%
Cryptos Available	150+	700+	200+
Website	https://www.LBANK.me/	https://www.huobi.com/en-us/	https://www.coinbase.com/

• LBANK

LBANK is a good option for cryptocurrency traders who are looking for a secure and reliable exchange with a wide variety of coins to trade.

• Huobi

Ideal for users prioritizing security, compliance, and seeking opportunities to earn passive income through staking and investment products.

• Coinbase

Suited for beginners due to its user-friendly interface and simple buying options. It is also a preferred choice for users in regions with stringent regulations, as Coinbase emphasizes regulatory compliance.

Ultimately, the best

crypto exchange

for an individual trader will depend on their specific trading style, preferences, and needs.

Educational Resources

LBank offers a variety of educational resources to help users learn about cryptocurrency, blockchain technology, and trading. These resources include:

• LBank Academy: This online learning platform offers a variety of courses on topics such as cryptocurrency basics, blockchain technology, trading fundamentals, and technical analysis. The courses are available in multiple languages and are designed for users of all experience levels.

• LBank Learn: This section of the LBank website offers a variety of educational articles, blog posts, and videos on cryptocurrency and trading. The content is updated regularly and covers a wide range of topics, from beginner guides to advanced trading strategies.

• LBank Webinars and Events: LBank regularly hosts webinars and events with industry experts to discuss the latest trends in cryptocurrency and trading. These events are a great way to learn from experienced professionals and ask your questions.

• LBank Community: LBank has a large and active community on social media and its Telegram channel. Users can ask questions, share ideas, and learn from other members of the community.

In addition to these educational resources, LBank also offers a variety of support services to help users with their trading experience. This includes 24/7 customer support, a detailed FAQ section, and a help center with articles and videos on how to use the LBank platform.



Customer Support

LBank offers customer support 24/7 via live chat, email, and social media. The customer support team is available to help users with any questions or problems they may have, including:

• Official Website (https://www.lbank.info/ and https://www.lbank.me/):

• Look for a “Support” or “Contact Us” section on the website. This is where you're likely to find information on customer support options, such as live chat, FAQs, and ticket systems.

• The official website may also provide information on their customer service hours and response times.

• Twitter (https://twitter.com/LBank_Exchange):

• Companies often use Twitter for customer service updates, announcements, and addressing user concerns.

• Browse through their tweets and replies to see how responsive and engaged they are with their users.

• Facebook (https://www.facebook.com/LBank.info/):

• Similar to Twitter, Facebook can be a platform where companies interact with their users.

• Look for posts related to customer support, announcements, and responses to user comments or queries.

• Customer Service Email Addresses:

• The provided email addresses (service@lbank.info and business@lbank.info) may serve as points of contact for customer support or other inquiries.

• Consider reaching out to them via email for specific concerns or questions.



Is LBANK a Good Exchange for You？

LBANK is the best exchange for beginner trading user groups. It offers a variety of educational resources, including online courses, articles, blog posts, videos, webinars, and events. These resources are designed to help new users learn about cryptocurrency, blockchain technology, and trading. LBANK also has a simple and user-friendly interface, making it easy for beginners to get started.

LBANK is also suitable for a wide range of target groups, including:

• Beginners: LBank offers a variety of educational resources to help new users learn about cryptocurrency, blockchain technology, and trading. The exchange also has a simple and user-friendly interface, making it easy for beginners to get started.

• Experienced traders: LBank offers a wide range of trading assets, including spot trading, margin trading, derivatives trading, and DeFi trading. The exchange also offers a variety of trading tools and features, such as technical analysis tools and order types.

• Investors: LBank offers a variety of investment products, such as staking and lending. The exchange also has a strong track record of security and reliability.

Conclusion

LBANK, founded in 2015 with global operations, is a prominent cryptocurrency trading platform offering diverse services. Its pros include a vast selection of 150+ tradable cryptocurrencies, various trading options, robust security measures, and support for 20+ payment methods. However, concerns arise over regulatory compliance, as LBANK reportedly exceeded FINTRAC licenses and faced issues with FinCEN. Transaction fees are relatively high compared to competitors, potentially impacting cost-conscious traders. While LBANK implements security measures like two-factor authentication and a strict privacy policy, users should remain vigilant due to inherent risks in cryptocurrency trading.

User review

User 1:

LBANK has been my go-to crypto exchange for a while now. The security measures they have in place give me peace of mind, and their regulation compliance adds an extra layer of trust. The interface is sleek and user-friendly, making trading a breeze, even for a newbie like me. They offer a wide range of cryptocurrencies, so I can easily diversify my portfolio. The only downside is their customer support, which can be a bit slow at times. However, the trading fees are reasonable, and I love how they prioritize privacy and data protection.

User 2:

I've had mixed experiences with LBANK. On the positive side, their interface is intuitive and easy to navigate, and the variety of cryptocurrencies available is impressive. The trading fees, however, can be quite high, which can eat into profits. I appreciate their attention to security and regulation, which makes me feel safe using the platform. On the flip side, the customer support leaves a lot to be desired – slow responses and not always helpful. I also had some issues with deposit and withdrawal speeds, which were frustrating. Overall, LBANK offers potential, but there's room for improvement in terms of customer service and transaction speed.

FAQs

Q1: How does LBANK stay compliant with regulations？

A1: LBANK ensures regulatory compliance by verifying information from official sources. As of August 2023, LBANK holds licenses from FINTRAC and FinCEN.

Q2: What security features does LBANK have？

A2: LBANK uses Two-Factor Authentication (2FA) and has a strict privacy policy. Users should still take precautions due to the inherent risks in cryptocurrency trading.

Q3: What trading options are available on LBANK？

A3: LBANK offers spot, margin, derivatives, and DeFi trading, with additional services like staking, lending, and mining.

Q4: How many cryptocurrencies does LBANK support？

A4: LBANK supports over 150 cryptocurrencies and over 100 fiat currencies.

Q5: What services does LBANK provide beyond trading？

A5: LBANK offers a secure wallet, staking, lending, investment products, and educational resources.

Q6: How can I download the LBANK app？

A6: Visit the LBANK website or app store, follow the download instructions, and create an account.

Q7: Is LBANK suitable for beginners？

A7: Yes, LBANK is beginner-friendly with educational resources, a user-friendly interface, and a variety of services for different user groups.

Risk Warning

Engaging in online trading carries substantial risks, and there is a possibility of losing the entirety of your invested capital. This activity may not be suitable for all traders or investors. It is crucial to thoroughly comprehend the associated risks and recognize that the information provided in this article is intended solely for general informational purposes.