Your expert: Alejandro Borja
Investing risks losing your money
Your expert: Xavier Tarrasó
Investing risks losing your money
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 | Wazirx |
|---|---|---|
|
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 |
WazirX allows users to begin trading with relatively small amounts, making it an accessible option for beginners and those looking to test the waters without significant initial investments. |
|
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 |
WazirX charges a flat fee of 0.2% on all trades, which is competitive; however, a lack of fee tiering can deter high-volume traders who typically benefit from reduced rates in other exchanges. |
|
LBank supports over 500 cryptocurrencies, providing a vast array of options for traders looking to diversify their portfolios. |
Number of Cryptocurrencies |
The platform supports a broad array of cryptocurrencies, providing users with ample opportunities to diversify their portfolios with both popular and less mainstream tokens. |
|
The exchange offers a wide range of crypto-to-crypto trading pairs, enhancing trading flexibility and opportunities for users. |
Crypto-to-Crypto Trading Pairs |
Offers a substantial number of trading pairs, which is beneficial for traders looking to capitalize on market movements across various 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 |
Generally, WazirX maintains a transparent approach with visible fee structures and trading terms; however, improvements could be made in the visibility of wallet safety and fund security protocols. |
|
LBank does not offer its own exchange card for customers to use for in-store purchases and receive benefits. |
Credit/Debit Card |
WazirX lacks an exchange card, limiting flexibility in utilizing crypto assets for everyday transactions and benefits. |
|
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 robust storage options with an emphasis on security; includes both hot and cold wallet solutions to ensure the safety of user assets. |
|
LBank offers some staking options, but they are not as extensive or competitive as those available on some other major exchanges. |
Staking and Rewards |
While WazirX offers staking options, the variety and rewards rates are less competitive when compared with larger platforms that specialize in staking and yield farming. |
|
LBank provides a user-friendly mobile app and desktop platform, both of which offer comprehensive trading tools and features. |
Mobile App and Desktop |
Both the mobile app and desktop platform are well-designed, offering intuitive navigation and comprehensive functionality that meets the needs of most traders. |
|
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 |
The platform’s customer service is an area needing improvement, with reported delays in response times and issues with the effectiveness of the solutions provided. |
|
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 |
Deposits and withdrawals are processed efficiently, especially for INR transactions. However, the platform could expand its support for additional fiat currencies to enhance user convenience further. |
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.
