LBank is a centralized exchange platform based in Hong Kong, founded in 2015, with offices in the British Virgin Islands, the United States, Australia, and Canada. Users can buy and sell major cryptocurrencies such as Bitcoin and Ethereum on the platform with more than 50 fiat currencies and more than 20 payment methods. The company has business licenses from the National Futures Association, the Australian Transaction Reports and Analysis Centre, and the Canadian Money Services business.
LBank's products include: spot and margin trading, cryptocurrency futures and options, staking, non-fungible tokens, and ETF trading of crypto assets. Other services include peer-to-peer (P2P) trading, grid trading, and elastic and locked deposits.
The ecosystem was co-founded by Allen Wei and Eric He. Allen Wei is a former IT developer and is currently the CEO of LBank. He was inspired to create this project after reading the white paper on Bitcoin and its blockchain.
The exchange is headquartered in Hong Kong and is owned and operated by Superchains Network Technology Co. Ltd.
The exchange has nearly 7 million users from more than 200 countries. Since LBank is located in Hong Kong, it may be subject to legal restrictions in some regions.
The centralized exchange supports more than 120 cryptocurrencies and more than 180 trading pairs. The hottest crypto assets on the platform include BTC, ETH, LUNA, MATIC, FTM, CRO, DOGE, and more.
The exchange charges a flat 0.10% maker and taker fee, while withdrawal fees vary from cryptocurrency to cryptocurrency. There are no fees for deposits.
Users of the exchange can use the spot trading process to trade leveraged ETFs. A leveraged ETF is a derivative instrument. No security deposit is required. LBank supports 3x long leverage (3L) and 3x short leverage (3S).
Users can use up to 125x leverage to trade crypto futures, including BTCUSDT, ETHUSDT, FILUSDT, as well as a variety of perpetual contracts. In addition, the exchange offers cross margin and isolated margin.
