LBank Review: What We Like and Don’t Like

LBank is a global crypto exchange with easy registration, 400 cryptos and over 7 million users. Here’s everything you need to know.

Updated: Mar 9, 2024

LBank Exchange Review
  • LBank offers 400+ coins with competitive fees and billions in trading volume. Anyone can sign up here for a lifetime 10% trading discount.
  • They have an easy registration process with no KYC requirements.
  • Other key features include copy trading and 240+ futures markets with up to 125x leverage.

What Is LBank?

LBank is a crypto exchange based in Indonesia and supported in 200+ countries. They were founded in 2015 and cater to over 7 million users worldwide. They support trading for over 400 cryptocurrencies, as well as derivatives trading, copy trading, and other crypto features.

It has a smooth user-interface and mobile app. Plus, a relaxed KYC policy which is useful for anyone who can't use major platforms like Binance and OKX in their region.

LBank KYC Requirements

Many users flock to LBank for its simple, non KYC registration process. Users can access most features with just an email address when signing up. You will be able to deposit and withdraw crypto and make crypto-to-crypto trades, but you will need to verify if you want to make purchases with fiat currency.

Non-KYC accounts can withdraw up to 0.5 BTC per day. For more platforms, you can check out our list of non KYC exchanges.

Supported Countries

LBank is available in 200+ countries according to its website. They have a relaxed no KYC policy, allowing anyone in the world to use most features without needing to verify their identity.

However, according to LBank's service agreement, the following countries are prohibited from using the exchange:

  • USA
  • Mainland China
  • Cuba
  • Iran
  • Iraq
  • Syria
  • Sudan
  • North Korea

Since LBank is a non KYC exchange, anyone can still use the platform at their own risk. However, it might be worth investing in a VPN like Surfshark and NordVPN to protect and change your IP address to any location in the world.

Things To Know

  • LBank averages billions in daily trading volume.
  • When this was written, the 24H trading volume is $1.2B for spot and $4.8B for derivatives.
  • It has spot and margin tradingcrypto futures with up to 125x leverage, copy trading, and more.
  • Spot trading fees are 0.1% and futures has a 0.02% maker fee and 0.06% taker fee.
  • They have never had any hacks (founded in 2015).
  • No proof of reserves are available, unfortunately. 
  • The website and mobile app have a simple user interface.
  • No KYC is required. You can access most features and withdraw up to 0.5 BTC per day.

Key Benefits & Features

LBank Futures Dashboard
  • 400+ Crypto Assets: LBank offers spot trading for hundreds of coins, letting you trade popular altcoins, meme coins and digital assets.
  • Crypto Futures: LBank has 240+ perpetual contracts with up to 125x leverage. The interface is smooth and has advanced orders like TP/SL.
  • Other Trading Tools: In addition, you have Copy Trading, Staking, ETF Trading, Grid Trading, competitions, and other features you can play with.
  • Easy Registration: What's nice is you can sign up with just an email address, which takes 30 seconds and get access to most features on the platform. Use our LBank link for the best trading discount.
  • Good Volume and Fees: It's not as large as top players like Binance and OKX, but LBank still averages billions in daily trading volume. The trading fees are competitive as well. It's 0.1% fee for spot trading and futures have a 0.02% maker fee and 0.06% taker fee.
  • User Support: LBank has a good user interface and provides 24/7 customer service via live chat.

Is LBank Safe?

LBank has been operating since 2015 and has never experienced any hacks or loss of funds. The main downside for me, is no proof of reserves and limited public information available about its security measures.

Despite the lack of transparency, which will be a concern for some, LBank does have a good reputation without any hacks dating back to 2015. They've been operating for nearly 10 years with a good reputation.

They also hold licenses and registrations in multiple countries, including Canada, Australia and Italy. Security firm, Certik, gave LBank a security score of 77.17/100 and CoinGecko gave them an 8/10 trust score.

Trading Fees

LBank charges a 0.10% maker and taker fee for spot trading. For futures trading, the maker fee is 0.02%, and the taker fee is 0.06%. These rates are competitive when compared to the industry average. However, LBank does not offer discounts for increased trading volume like other places. You can also claim a lifetime 10% trading discount with our referral code.

Is LBank Worth It?

LBank holds its own if you want to trade altcoins, play with leverage, and have access to many trading features with lots of volume and low fees.

It doesn't rival giants like Binance or KuCoin, but LBank is a good alternative if you're looking for an accessible, non KYC alternative. Especially, if the top platforms aren't available in your region.

Pros & Cons

  • Fast registration (no KYC)
  • 400+ coins and 240+ futures
  • 125x Leverage
  • Low trading fees
  • Billions in daily trading volume
  • High withdrawal fees on certain altcoins
  • Limited security info available online
  • Mixed mobile app reviews

LBank Alternatives

LBank is a popular futures exchange and non KYC exchange. Click those links to visit our comparison tools or check out our favorite crypto exchanges below:

OKX

OKX is a fast-growing exchange with a a sleek user-interface and low fees.

  • 400+ coins, 180+ futures
  • High volume + low fees
  • 100x leverage
  • Fewer altcoins
  • Unavailable in some areas
Binance

The world's largest exchange by trading volume with low fees and tons of features.

  • 400+ coins, 300+ futures
  • Highest volume + low fees
  • 125x leverage
  • Unavailable in some areas
  • Less beginner-friendly
BYDFi

BYDFi is one of the top no KYC, no VPN exchanges where anyone can sign up and trade.

  • 500 coins, 180+ futures
  • No KYC, No VPN
  • 200x leverage
  • No fiat trading pairs
  • Not beginner-friendly

Author

At RankFi.com, our goal is to be your trusted source for crypto reviews, guides and research. We seek out researchers with extensive crypto knowledge and firsthand experience using dozens of CeFi and DeFi platforms.

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