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.
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.
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:
Things To Know
Key Benefits & Features
Is LBank Safe?
LBank has been operating since 2015 and has never experienced any major hacks or loss of funds. The main downside for me, is that there is limited public information available about its security measures and no proof of reserves.
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 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.
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.