LBank is a Digital asset exchange, providing global users digital asset exchange services.

Overview

The exchange was founded in 2017 with the goal of providing users from around the globe with professional Cryptocurrency asset management solutions. The exchange is owned and operated by Chinese company known as Superchains Network Technology Co. Ltd.
The exchange accepts fiat currency transfers in dollars and Chinese yuan. Users can directly withdraw or deposit the money into their bank accounts. The exchange charges a 0.10% flat fee on all the trades making the exchange one of the cheapest in the market. Additionally, deposits to the exchange are free while withdrawals are charged at competitive prices of 0.01 ETH and 0.1% Qtum.LBank allows its users to trade anonymously.^[3]
LBank app is available for IOS and Android.^[1]

LBank security

The exchange implements latest security features like "Bind the e-mail" and "Bind your telephone". It has two main levels of verification namely, C1 and C2 real name authentication.
– C1 Authentication: This feature is for prepay and transaction processes. Indeed, with the C1 Authentication process, you can complete prepayment and trading operations.^[2]
– C2 Authentication: This feature is to improve the quality of cash-out operations. In this context, the account is limited to cash-out operations. This feature comes after C1 verification.

Support

LBank’s support is rather limited for English-speaking users as their website does not support the English language on the FAQ page or contact us page. Also, when contacting support in English, the response by a representative is slow and in very simple and broken English. However, we believe that support for Mandarin-speaking people is much better and more prompt. The FAQ page and other resources are eligible for them.