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Exchange Review

LBank


Exchange Fees

BTC Withdrawal Fee 0.00009 Taker Fee 0.10% Maker Fee 0.10%

Deposit Methods

Yes Wire Transfer No Credit Card


LBank is a cryptocurrency exchange registered in Hong Kong. It has been active for many years now.

Tired of reading? No problem, check out our video review of LBank here:

The exchange does not list US-investors as prohibited from trading, but US-investors should do their own independent assessment of any problems arising from their residency or citizenship.

If you prefer to be able to check your portfolio or make trades while on your smart phone, you’ll be pleased to learn that Lbank is also available as an application. Irrespective of whether you’re using an Android or an iPhone, the app is available to download.

LBank Mobile Support

This exchange is one of the absolute giants in the industry and it consistently has a 24 hour trading volume in excess of USD 1 billion. There is a somewhat declining trend though. The 24-hour trading volume of USD 2.16 billion on 17 July 2019 had fallen a little bit to USD 1.92 billion on 23 March 2020. This was USD 637.7 million on the date of last updating this review (2 December 2020), according to Coinmarketcap.   

Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at LBank:

LBank Trading View

This trading venue doesn’t charge different fees between takers and makers. Their fee model is instead something called a “flat fee model”. They offer a flat trading fee of 0.10%. For investors who prefer to pick-up existing orders from the order book, this might be an attractive trading fee model.

0.10% flat trading fee is far below the industry average which is around 0.25%. The fees of this exchange thus constitutes a strong competitive advantage against the majority of other top crypto exchanges in the market.

LBank does not charge any withdrawal fees. However, when making a withdrawal you still have to pay the network fee. There are a few exchanges that themselves pay this network fee for you, but most do not do that. Only charging the network fee is thus a strong competitive edge in the market and distinguishes this exchange from most other top crypto exchanges.

LBank offers wire transfer as a deposit method, but you can’t deposit via credit card. This of course negative news to you if you would prefer to use your credit card for any reason.