Review on LBank by Temitope Babatunde
Lbank Satisfying Asian and Chinese Market
Lbank cryptocurrency exchange is an exchange founded in 2016 by a Chinese company known as Superchains Network Technology Co. Limited. Due to the harsh disposition of China against cryptos, the exchange was located outside Hong Kong.
Since its inception, the exchange has been performing very well in Asia and Chinese markets. Though not licensed, the website is looking great and the trading view is not difficult to master. There are certain Technical charts that can help the users to see the market trends. The platform has 2 main language, that is English and Mandarin China.
When depositing into the platform it is free but if it is through wire transfer the bank will charge some fee for this. For transactions, the exchange charge 0.1 percent for both maker and taker. The type of coin that user is withdrawing will determine the fees to be paid.
There is a good level of security like SSL encrypted server, 2Factors authentication, storing funds in cold wallet etc. The platform is also good for both experienced and newbie. But in terms of support most of the website part are in Chinese alone making it difficult for English users to use it. Even when contacting customer care service, it is only Chinese people that use to get quick attention.
In conclusion Lbank exchange is good as no report about it been hacked was ever reported, of recent some say the website is down but as the time am writing it is working very fine.
Pros
- The exchange makes use of cold wallet to protect the funds of users from theft.
- No KYC is required to use the platform.
- There are numbers of cryptocurrencies to trade with.
- Various types of trading like OTC, margin trading etc.
- It accepts deposit through wire transfer.
- Good measures of security.
Cons
- Only crypto to crypto trading
- No good support if you are English user.
- Credit card is not accepted.
