The employed customer-to-customer operational model is what distinguishes LBank from other cryptocurrency exchanges. The platform appears to have incorporated the best of both centralized and decentralized exchanges, allowing users to trade on almost a hundred markets. Besides, it has such features as Over-the-Counter trading and margin trading, which are the must-haves for any respectable platform. The only cause for concern regarding LBank is its Chinese registration and a slightly unpolished English version of the interface.
I have been trading on LBank for about a week before they began playing weird tricks on me. There have been a few instances when the platform went down right as when I was about to place a buy order. When it got back on, the price has already gone up (or down), kicking me out of the market. I tried to contact the support, but they kept blaming my broadband connection, which is ridiculous.
I reckon that the Hong Kong protests serve as one of the reasons why the trading volume on the Asian cryptocurrency exchanges is booming right now. Today, LBank reported the daily trading volume of more than $900 million, which is a very impressive number, given that this platform has traditionally been oriented on Chinese/Japanese traders, and mostly ignored by those from other countries. But as the geopolitical situation in this region gets tenser, people start transferring their savings from the bank to cryptocurrencies, hence the increased demand for BTC and the bunch.
The fact that Lbank allows users to deposit funds in fiat played a major role in my decision to go with this exchange. That's the way all cryptocurrency exchanges should operate! Why do I have to pay additional fees to third-party exchanges to get some crypto and then pay network fees in order to be able to make a deposit? So, regardless of the fact that Lbank doesn't belong to the cohort of "popular" platforms, I will definitely stick with it for a while, at least until the Chinese government comes up with another crypto banning nonsense.
When I first read about LBank, it seemed quite appealing to me, mainly because of low trading fees. I trade quite frequently, often making dozens of trades per day, so fees are very important to me. However, once I went to the platform, my anti-virus began screaming about the present threat of phishing. It’s unlikely that I have used a corrupted link, as I have tried accessing the platform from different websites. That’s a pity because I was really looking forward to trading on LBank. Gonna have to look for another exchange with similar fees.
If you are stingy about trading and think that 0.2% per trade charge is a daylight robbery, then LBank is right where you need to head. It is widely considered as one of the cheapest crypto exchanges around with its minuscule 0.1% flat fee. The deposits are also free of charge through the withdrawal will eat up around 0.01 ETH. I also like the fact that LBank supports USD and accepts bank transfers. Although I am not very fond of the absence of the corresponding mobile application because I really like to trade on the go.
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