What is LBank? How to register on LBank?
Following the article series of exchanges, today, AZCoin News will introduce to you the LBank exchange. This is a Hong Kong exchange. There was a time when LBank reached the top 5 of the largest trading platform of the day. LBank’s head office is located at Unit 04, 7/F, BrightWay Building, No. 33 Mong Kok Street, Kowloon, Hong Kong.
What is LBank?
Founded in October 2016. LBank is a crypto exchange in Hong Kong. Although LBank was just created and was still young compared to other exchanges in Hong Kong, in only a few months, LBank reached the top 30 of the largest 24-hour cryptocurrency exchanges, according to CoinMarketCap.
LBank allows users to trade on the leading coins, such as BTC, ETH, QTUM, LTC. Besides, it supports the markets of BTC, ETH, QTUM, BTS, NEO with prominent trading pairs such as QTUM/BTC, VEN/BTC, BCC/BTC, INK/QTUM. At the time of this writing, there are 90 active currency pairs in the market.
Advantages of LBank
- Security features: LBank uses the best security measures today, such as SSL security protocol, 2-layer security (2FA), server system using cloud computing technology.
- A low transaction fee of only 0.1% for all transactions.
- Support for two main legal currencies is CYN and USD.
- Supported languages: Chinese, Korean, and English.
- Customer support: Customers can contact directly via Live chat or can contact via email, social networking sites such as Facebook, Twitter, Telegram.
- Mobile application support. Currently, the application is available on iOS and Android phones to make it more convenient for users.
- Simple and easy to use Web interface.
Disadvantages of LBank
- Because the exchange focused on Asian investors, the language of support is still limited. Currently, LBank only supports Chinese, Korean, and English.
- LBank has no margin trading.
Users can use individual bank accounts to deposit and withdraw money at the exchange, with legal currencies supported as CYN and USD.
How to Register LBank accounts
Step 1: Visit the link: https://www.lbank.info/
Step 2: You go to the “SignUp” section, enter your email into your account and click “Send.”
Step 3: Use the mouse click and drag the arrow to the right to Verify.
Step 4: LBank system will send you a 6-digit code, then enter in the Email code box. Next, enter the password and click “SignUp.”
Ok, so that has successfully established a new LBank account.
Verify identity (KYC) on LBank
Why do we need to verify identity (KYC)? Like other exchanges, you should also identify yourself before making transactions.
This enhances confidentiality as well as avoids fraud, making it easier for you to conduct transactions with significant assets.
To conduct identity verification, you need to prepare the following:
- Take a photo of the front of the ID card or Passport.
- Next is to take a photo of the back of your ID card or Passport.
- Take your photo holding your ID card / Passport, a paper with “LBank” and the date/month/year you conducted verification.
In the My Account section, select Security Policy and choose Security Setting or access the link: https://www.lbank.info/user-overview.html
Then scroll down to the Certification line. Click on “Verification.”
What you need to do now is fill in the following personal information:
- First name.
- Last name.
- Day of birth.
- ID number: ID number or Passport number.
- Then you click “Upload the back of document” in turn the column from left to right in the order mentioned above (front, back, personal images) then select “Submit.”
So you have completed the registration. Your account will be notified pending approval.
Depending on the time of approval, fast or slow, your information will be different from LBank Verify.
You can return to “Security Setting” to check. If you move to the green tick, as shown below, it means that your application has been approved!
2FA 2-step security activation guide
Back to the “Security Setting” in step two as I have instructed or access the link: https://www.lbank.info/user-overview.html
Scroll down to the line “Two-factor authentication” Click on “Add.” Continue to Click on Google Authenticator.
If you have not installed the application, LBank has provided us with a link to download the app “Google Authenticator” for both IOS and Android series, as shown below.
If you have installed the “Google Authenticator” application on your device, skip to the next step. They will send you a Backup Key and a barcode.
After downloading the application “Google Authenticator,” you open the app and scan the code, then you will see a 2-digit 2FA code => enter this code in the “Google Authenticator” box below and click Next.
Note: You need to save Backup Key in case you lose your phone or accidentally delete 2FA, you can use it to get it back.
Instruction for deposit/withdrawal and transactions on LBank
After you have successfully created an LBank account, now I will guide you to deposit/withdraw BTC and trade on LBank. For the other Altcoins, you can do the same.
Click on “My Account”, then it will show the following:
- List of assets
In the “List of assets” section in which the “Cryptocurrency” column is the cryptocurrency, you can choose to trade.
For example: If I loaded BTC, I selected the BTC box as shown in the picture.
When you want to deposit, you Click on “Deposit” and “Withdraw” when you want to withdraw money. You should double-check before you want to deposit or withdraw money.
A few things to know:
- You can only send BTC to your BTC address, not other tokens.
- If different tokens are sent to the sending address, the tokens will not be returned.
- After deposit, it takes about 10-60 minutes to deposit successfully.
- A small commission may be required to enforce the process.
- The minimum deposit amount is 0.0001 BTC. Similar to other peers.
- Your remittance address must be one that has not changed much.
In this article, AZCoin News has introduced about LBank, as well as instructed you to register accounts and trade on LBank. Hope you will get many useful things from this article.
If you have any questions, please leave a comment below the article so that we can answer for you as soon as possible. Hello and see you again in the next article!
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