Lykke Exchange Review
A trading cryptocurrency guide must provide reviews of all of the top crypto exchanges out there, so that you can find the best cryptocurrency exchange site for you. This review of Lykke Exchange consists of four parts: general information, fees, deposit methods and security.
US-investors may not trade on this exchange. But they are in good company. If you are from any of the following countries, you’re also out of luck:
- Bosnia and Herzegovina
- British Columbia, Quebec and Saskatchewan (Canada)
- New Zealand
- Democratic People’s Republic of Korea
So if you are from any of the above countries and you want to trade at Lykke, you’ll have to reconsider your choice of trading venue and choose one of the other top crypto exchanges. Don’t be too sad though, there are many other venues that offer the type of trading this exchange does. Use our Exchange Finder to find out which alternatives you have.
Lykke Exchange Fees
Lykke Exchange Trading fees
This Swiss cryptocurrency exchange doesn’t charge different fees between takers and makers. In fact, they don’t charge any trading fees at all (!!!). This is extremely competitive and Lykke is one of the few exchanges in the world that does not charge takers any fees at all (other exchanges with the same approach include Indodax, Bitbank, Coincheck and Cobinhood).
Lykke Exchange Withdrawal fees
Many exchanges have competitive trading fees but then hit you on the way out with their withdrawal fees. Let’s say you have reached your investment goals and you are looking to buy house with bitcoin. In order to buy that house, you need to withdraw the funds. And when doing so, the exchange can make up for its low trading fees by charging you high withdrawal fees when you’re halfway out the door.
Not Lykke though. They have a competitive withdrawal fee sitting at 0.0005 BTC when you withdraw BTC, which is also below industry average.
At Lykke, you can deposit through both wire transfer and credit cards. This can be helpful especially for newer crypto investors.
One should generally look out for the different deposit fees charged by exchanges for deposit of fiat currencies via wire transfer or credit cards, and whereas it might be indifferent to you whether you should deposit via wire transfer or credit card, it might be very different fees.
Lykke Exchange Security
Lykke’s security score is F, when performing the test at Observatory by Mozilla (https://observatory.mozilla.org/). This is below industry average when it comes to top crypto exchanges.
Low trading fees are indeed very important for any prospective cryptocurrency investor. All of the following exchanges also – like the above exchange – have very low trading fees (some of them don’t even charge trading fees at all):