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Fees
Earns
Customer service
Fees
Earns
Customer service
Beginners
Trading
Passive income
Buy and hold
Beginners
Trading
Passive income
Buy and hold
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| Lbank | FEATURES | Simpleswap |
|---|---|---|
|
The minimum trade amount on LBank is quite low, making it accessible for beginners who want to start trading without committing large amounts of money. |
Minimum Trade |
SimpleSwap supports flexible trading with no minimum deposit, making it accessible for casual users and beginners to start trading with any amount. |
|
LBank charges a competitive flat fee of 0.10% for both maker and taker trades, which is attractive compared to many other exchanges that have higher fees. |
Trading and Transaction Fees |
The platform operates with a straightforward fee structure but lacks the transparency of detailed fee breakdowns that might benefit users looking for cost efficiency. |
|
LBank supports over 500 cryptocurrencies, providing a vast array of options for traders looking to diversify their portfolios. |
Number of Cryptocurrencies |
Offers a wide variety of over 300 cryptocurrencies, providing users with extensive options for trading different digital assets. |
|
The exchange offers a wide range of crypto-to-crypto trading pairs, enhancing trading flexibility and opportunities for users. |
Crypto-to-Crypto Trading Pairs |
Supports numerous trading pairs, allowing for versatile crypto-to-crypto exchanges, though it could expand into more niche or emerging cryptocurrencies. |
|
While LBank provides detailed information on its fees and services, the site is primarily available in Mandarin, which can be a barrier for non-Mandarin speakers. |
Website Transparency |
While the website is user-friendly, it could improve by providing more detailed information about the company’s background and operational logistics. |
|
LBank does not offer its own exchange card for customers to use for in-store purchases and receive benefits. |
Credit/Debit Card |
SimpleSwap focuses solely on cryptocurrency exchanges and does not provide additional financial tools like an exchange card, limiting its utility for everyday transactions. |
|
LBank uses a combination of hot and cold wallet storage, with most funds held in cold storage to ensure security against hacks. |
Storage Offering |
Provides secure storage options, though detailed information on security measures and storage capabilities could be more transparent. |
|
LBank offers some staking options, but they are not as extensive or competitive as those available on some other major exchanges. |
Staking and Rewards |
Limited staking options and rewards are available, which could be enhanced to attract long-term investors. |
|
LBank provides a user-friendly mobile app and desktop platform, both of which offer comprehensive trading tools and features. |
Mobile App and Desktop |
Offers a functional mobile app that is efficient and convenient for trading on the go, although further enhancements could improve user experience and features. |
|
Customer service is available 24/7 via email and chat, but support quality varies significantly with slower and less effective responses for English-speaking users. |
Customer Service |
Generally receives positive feedback for customer service, but could benefit from extended support hours and faster response times. |
|
LBank offers a variety of deposit and withdrawal methods, primarily in cryptocurrencies, with competitive fees. However, the absence of fiat deposit options can be a limitation. |
Deposit and Withdraw |
Crypto deposits and withdrawals are supported, but the addition of fiat options and reduction of withdrawal fees would improve this feature. |
At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.
We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).
For more details on the categories considered when rating brokers and our process, read our full methodology.
Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.
Neither Threenvest, nor the author, are recommending you to invest with this article.
We help you invest in the crypto market in the safest way possible.
Threenvest was born by and for you. Our mission is to help you invest in the cryptocurrency market in the easiest and safest way possible. And how do we make money? Very simple, every time you click on any of the platforms that we recommend, it is possible that we get an income. We do not work with unsafe platforms, our standard is only to recommend platforms where we would invest our money ourselves.
© All rights reserved 2024 | Threenvest I/S