Review on LBank by Elvin Akhmed
LBank
There are a few things to think about before deciding to use an exchange's services. Regulations, security, and social presence are three of them. In light of these issues, this evaluation will analyze Lbank exchange. Due to the Chinese government's strict rules, L bank is a Chinese exchange based in Hong Kong. It is currently unlicensed and subject to no official rules.
The Superchains Network Technology Ltd created it in 2016. The exchange allows buyers and sellers to trade digital assets directly. It also has a spot trading option. The exchange supports up to 40 cryptocurrencies and trades a total of 98 currency pairings. The platform includes powerful trading and analysis capabilities that are essential for successful trading. It allows you to trade on margin and with a lot of leverage.
Despite the lack of restrictions, it provides industry-standard security to its users. To keep funds safe, it employs two-factor authentication, SSL encryption, and a cold wallet. It does not need KYC at the time of signup. This provides dealers with some anonymity. The software is also incredibly simple to use and is accessible for both Android and iOS devices. Finally, it has a Twitter account, although there are very few comments on them when we check the account. This demonstrates that their social presence is insufficient for an exchange.
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Pros
- Their rates are lower than the industry average. It levies a 0.10 percent fee on both makers and takers.
- It provides a high level of security.
Cons
- Customer service is substandard.
