Lucent Exchange Review
A crypto exchange guide must provide reviews of all of the exchanges out there, so that you can find the right one for you. This review of Lucent Exchange consists of four parts: general info, fees, deposit methods and security.
Lucent Exchange is a crypto exchange from the Philippines which launched in 2018. To our understanding, this exchange previously had the name Cezex.
At Lucent Exchange, they don’t only offer crypto trading but also derivatives trading. You can also trade with leverage. When you trade with leverage, you receive a higher exposure towards a certain asset’s price increase or decrease, without having the assets necessary. You do this by “leveraging” your trade, which in simple terms essentially means that you borrow from the exchange to bet more.
For instance, let’s say that you have 10,000 USD on your trading account and bet 100 USD on BTC going long (i.e., increasing in value). You do so with 100x leverage. If BTC then increases in value with 10%, if you had only bet 100 USD, you would have earned 10 USD. As you bet 100 USD with 100x leverage, you have instead earned an additional 1,000 USD (990 USD more than if you had not leveraged your deal). On the other hand, if BTC decreases in value with 10%, you have lost 1,000 USD (990 USD more than if you had not leveraged your deal). So, as you might imagine, the balance between risk and reward in leveraged deals is quite fine-tuned (there are no risk free profits).
As far as we can tell, US-investors are permitted to trade here. But, US-investors should do their own independent assessment of any problems arising from their residency or citizenship. State laws may complicate things for them.
Lucent Exchange Trading View
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 Lucent Exchange:
Lucent Exchange Fees
Lucent Exchange Trading fees
The most important lesson to learn when picking an exchange is that you must always check the fees.
This exchange’s trading fees for takers are 0.50%. This fee is double the industry average. The industry average is arguably around 0.25%. The trading fee for takers is thus not a competitive advantage for Lucent Exchange.
However, this exchange does not charge any fees for makers, thereby promoting the liquidity at the exchange. This is a very strong competitive edge in the market. It is especially beneficial for the investors that are not interested in picking up existing orders from the order book, but prefer to “go fishing” with maker-orders.
Lucent Exchange Withdrawal fees
Another fee to consider before choosing which exchange to trade at is the withdrawal fee. The withdrawal fee is usually fixed (regardless of the amount of cryptos withdrawn), and varies from crypto to crypto. The global industry average withdrawal fee is 0.000812 BTC when you withdraw BTC.
Here, at Lucent Exchange, you pay no withdrawal fees at all. Zero. This is very impressive indeed and there’s only 30 something exchanges in the whole world that offer zero-fee withdrawals.
Lucent Exchange does offer fiat currency deposits through wire transfer, but you can’t deposit via credit card. Accordingly, if you for some reason would prefer to deposit to your choice of trading platform via your credit card, then you need to find another exchange. Don’t worry though, you can find an exchange that accept credit card deposits simply by using our Exchange Finder tool.
However, as Lucent Exchange at all accepts fiat currency deposits, it qualifies as an “entry-level exchange”, where new investors can take their first steps into the thrilling crypto world.
Lucent Exchange Security
We run all exchange-websites in Mozilla’s Observatory-test (https://observatory.mozilla.org/), and a lot of the exchanges receive F as scores. Lucent Exchange, however, received a D+ score, which is decent. There is room for improvement, but compared to the majority of exchanges in our Exchange List a D+ is still perfectly fine.
We hope you have enjoyed reading the above review. We also recommend checking out the following cryptocurrency exchanges. They are well established in the industry and have also received excellent ratings from the visitors on our site: