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In this review, we shall look at ByBit, a global crypto derivatives trading platform priding itself on its quality leverage trading options paired advanced features, great interface, and performance.
- Web address: ByBit
- Support contact: Link
- Main location: Singapore
- Daily volume: ? BTC
- Mobile app available: Yes
- Is decentralized: No
- Parent Company: Bybit Fintech Limited
- Transfer types: Crypto Transfer
- Supported fiat: –
- Supported pairs: 4
- Has token: –
- Fees: Very Low (Compare rates)
- Accessible and clear interface
- The platform offers great performance
- Integrated asset exchange
- Low fees
- No phone-based customer support
- Advanced features may be intimidating for novice traders
- No fiat support
ByBit Review: Key Features
Started in 2020, the ByBit platform posits itself as the key market player in the crypto derivatives space, friendly to veteran and newcomer traders alike. Led by its CEO Ben Zhou, the platform is based in Singapore, but its outreach is already a global one, thanks to an impressive array of features, including:
- Margin trading with up to 100x leverage. Trade Bitcoin, Ethereum, EOS, and XRP perpetual contracts with up to 50x, 100x or lower leverage to find a suitable balance between risk and profits.
- Multi-currency support. At ByBit, you have the ability to deposit, withdraw, and open positions in BTC, ETH, EOS, XRP, and even USDT (not available for trading, hedging only). Use the internal Asset Exchange feature to convert cryptocurrencies with ease.
- Low fees. ByBit offers some of the most competitive margin trading fees on the market.
- No KYC exchange. The platform does not ask you for any personal or private information.
- Powerful and well-designed trading interface. ByBit has a robust, powerful and well-designed platform and is easy to navigate yet is full of advanced options. It can handle up to 100,000 trades per second.
- Secure platform. The exchange has no history of hacks, breaches, or leaked user information.
- 24/7 customer support. The support is available in multiple languages and takes the form of desk-based live chat function and email.
All in all, ByBit is a relatively fresh yet ambitious margin trading exchange and a viable alternative to competing leverage trading sites like BitMEX or PrimeXBT.
Bybit is a relatively new exchange that started in the 2020 bear market. Although its headquarters is in Singapore, the exchange is incorporated in the British Virgin Islands as Bybit Fintech Limited. Besides Singapore, ByBit has offices in Hong Kong and Taiwan.
ByBit’s founding team has a strong background in the Forex industry, investment banking, and blockchain technology. The exchange’s CEO is Ben Zhou.
During its first two years of operation, ByBit has accrued over 100,000 users from North America, Europe, Russia, Japan, South Korea, and other prominent crypto markets.
Due to regulatory issues, ByBit does not allow traders from the United States on its platform. However, U.S. traders are not alone, since ByBit also excludes residents and citizens from:
- Quebec (Canada)
- Crimea and Sevastopol
- North Korea
Other than these countries, ByBit’s services are available worldwide.
ByBit is a generous exchange in terms of trading fees. The exchange charges 0.075% for the market takers and pays 0.025% for the market makers, which is a relatively fair price in the industry.
|Contracts||Max. Leverage||Maker Rebate||Taker Fees||Funding Rate||Funding Rate Interval|
|BTC/USD||100x||-0.025%||0.075%||0.0416%||Every 8 hours|
|ETH/USD||50x||-0.025%||0.075%||0.0689%||Every 8 hours|
|EOS/USD||50x||-0.025%||0.075%||0.0980%||Every 8 hours|
|XRP/USD||50x||-0.025%||0.075%||0.0692%||Every 8 hours|
Other than trading fees, BitBuy users also incur a funding fee, which indicates funding exchanged between buyers and sellers. A positive funding rate means that you paid to fund someone, while a negative funding rate indicates that you are receiving it. However, ByBit does not pay nor receive any of the funding fees.
ByBit does not charge any deposit and withdrawal fees. The platform only asks you to cover the network fees during withdrawals, which are fixed and amount to:
|Coin||Bitcoin (BTC)||Ethereum (ETH)||XRP||EOS||Tether (USDT)|
As you can see, the services provided by ByBit are not expensive. Here is how they fare with other popular margin trading exchanges:
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|Exchange||Leverage||Cryptocurrencies||Maker Fee/ Taker Fee||Link|
|ByBit||100x||4||-0.025% / 0.075%||Trade Now|
|PrimeBit||200x||3||-0.025% / 0.075%||Trade Now|
|Prime XBT||100x||5||0.05%||Trade Now|
|BitMEX||100x||8||-0.025% / 0.075%||Trade Now|
|eToro||2x||15||0.75% / 2.9%||Trade Now|
|Kraken||5x||8||0.01 / 0.02% ++||Trade Now|
|Poloniex||5x||16||0.08% / 0.2%||Trade Now|
|Bitfinex||3.3x||25||0.08% / 0.2%||Trade Now|
In terms of fees, ByBit competes with other low fees and high leverage tier platforms, namely BitMEX, PrimeXBT, and PrimeBit. However, ByBit stands out from the group by being the only multi-currency margin trading exchange in this cluster, while others are so-called Bitcoin-only platforms.
Last but not least, ByBit has an integrated Asset Exchange, which lets you switch between different cryptocurrencies within the platform. Each swap comes with a different rate, but if the difference between the quotation rate can never be more than 0.5% per swap.
In sum, ByBit is a very competitive exchange in terms of fees and unique features.
How Does ByBit Support Leverage Trading?
ByBit supports leverage trading based on the value of the derivative you want to use for trading.
Leverage trading is a bit riskier option, best left to more experienced traders who are capable of capitalizing on the platform’s offer to trade BTC/USD with 100x leverage. The combinations involving ETH, EOS, and XRP offers leverage going to 50x at maximum, which is still an attractive option for risk-lovers. The platform offers higher leverage compared to regular trading platforms like Kraken or Binance but is less compared with PrimeBit.
Margin trading warning. Source: ByBit.com
ByBit also features risk limit schemes in four supported cryptocurrencies, allowing for the reduction in limits. Expenditures related to financing are covered by the interest rates and calculated premiums and discounts.
ByBit uses the market maker/taker approach to its pricing, meaning that the level of fees you pay in terms of derivatives depends on your capacity to support the platform’s liquidity. In this case, a market maker will have the right to a rebate (at the rate of 0.025% for each trade). Otherwise, regular traders will be required to pay 0.075% per trade.
ByBit’s Insurance and Liquidation Scheme
As the settlement of futures contracts carries various risks, the ByBit team has come up with the insurance fund mechanism. Its resources become available if a trader undergoes liquidation which goes below what is considered the bankruptcy price i.e. their initial margin gets wiped out. The platform also features several mechanisms to tackle this advanced trading segment:
- Stop-loss mechanism on positions prevents them from reaching the rates which entail liquidation.
- Auto margin replenishment is used to keep the margins at satisfactory levels whenever they are in danger of becoming depleted.
- Dual price mechanism is put in place to lower the risks of market manipulations by introducing the mark price (global Bitcoin price) which is tied to liquidation and the last traded price which serves as the basis of calculation when a position is closed (market price on ByBit)
ByBit also implements a system supporting automatic deleveraging. It gets activated in case a position is unavailable for liquidation while having the price that goes above the bankruptcy one and the insurance fund is unable to cover for it. In this case, this system can automatically deleverage the position of a trader based on predefined settings.
Is ByBit a Secure Trading Option?
ByBit will not have you go through know-your-customer (KYC) procedures, meaning that you will not be asked to submit ID documents or any similar information for trading. Yet, this hardly means that the platform has the security put on the back burner. In addition to the two-factor authentication (2FA) via email, SMS, and Google Authenticator, the platform will offer to store the customer’s tokens in an array of offline (cold) wallets located on a secure site.
Moving stored funds is regulated with the use of multi-signature addresses. This entails having the platform use multiple keys to sign transactions between wallets. Thus, no person will be given too much power in handling assets stored on the exchange. A portion of the funds that are needed for immediate withdrawals is kept in an equivalent of hot wallets.
The platform also uses SSL encryption to power its communication engine, with addresses and passwords needed for transactions being fully encrypted. All withdrawal requests undergo multiple security checkups prior to being approved.
As of February 2020, the ByBit platform is yet to experience a security breach, which means that the platform remains trustworthy and secure.
How Does ByBit Work?
Understanding at least the fundamentals of this type of crypto trading is a must, as ByBit does expect its users to be familiar with the terms such as “derivatives”, “leverage”, and “perpetual contracts”. What it does is to provide traders with an accessible environment in which the derivatives are tied to cryptocurrencies and made available for trading based on the available leverage.
Perpetual futures contracts are used in a manner similar to what one does with standardized futures contracts, meaning that they represent agreements to trade with an asset or currency (or any other instrument) at a predefined price at a particular time in the future. This allows the users to try to profit from speculating on the prices one of these assets may actually have in the future. Yet, unlike what is found with traditional futures contracts, their perpetual contracts will never expire.
ByBit specialized in linking the cryptocurrency world with that of their fiat counterparts, with the platform offering support for four markets at the moment. The supported cryptocurrencies are Bitcoin, Ethereum, EOS, and XRP, with USD serving as the second component of all of their pairings.
To provide more convenient trading for its customers, ByBit also offers an internal asset exchange – an option to exchange coins directly on the platform, with any of the five currencies currently being supported for this type of operation – BTC, ETH, EOS, XRP, and USDT. This adds a unique extra layer of functionality to the platform and makes it useful for traders who want to hedge their assets and profits against price fluctuations.
The exchange price is based on the Real-Time exchange rate as you enter the currencies you want to trade. Every asset swap has its on Quotation rate, and if the Quotation Rate differs from the Real-Time Exchange Rate more than 0.5%, the trade is not executed. Hence, the exchange cost is always no more than 0.5% per swap.
Yet, as of February 2020, Bybit does not provide exchange service between fiat currencies and cryptocurrencies.
What Is the Performance Like?
ByBit clearly wants to keep the door open for various trader profiles, from small-time retailers to the organized big-time investors. To achieve this, it had to build a solid performance infrastructure, with the promise of supporting theoretical 100,000 transactions per second. Paired with the fact that every single trade is executed at 10-microsecond intervals, one can easily see that ByBit can deliver the goods in the segment of its technological robustness.
Yet, the team behind it promises not to stop at this level, as its tech and engineering experts constantly work forex and blockchain professionals to keep the performance levels in the line with the growth of the platform’s customer base, which is reportedly already reaching more than 100,000 users globally.
Clean Trading Interface
ByBit can rightfully pride itself on the clean and accessible design of its main trading screen. The layout design is helped by its color palette, with its fuscous background serving to complement the uncluttered trading screen. Various components of this interface are organized in a minimalist manner, with no single feature being left in the background or playing second fiddle to the others.
Special mention goes to the use of pink and green-shaded candles against the dark background, while the order book and the recent trade history windows perfectly fit with the general layout. Trading features can be managed from the dedicated section to the right of the screen, including access to the contract details, market activity, and help resources.
Windows featuring asset overview and positions are readily available for moving and they can switch positions within the screen depending on your preferences. ByBit allows for the simple manipulation of the scale design parameters themselves, including the positioning of its axis, indicator data, and percentages. The basic color scheme can also be changed, alongside all of the metrics given on the screen, including the trader’s time zone.
Finally, dedication to clear presentation extends to ByBit giving you a comprehensive overview of a particular trade before its execution. As the operations involved in trading with derivatives are often complex, this is clearly a plus in any user’s book, be he/she a pro or a beginner.
Customer Support and Referral
ByBit does not stumble on its customer support features either, as its help resources available throughout the day, 7 days a week. The support is available in multiple languages and takes the form of desk-based live chat function and email, while the phone support is currently not available.
The platform has a well-established presence on social media, including Facebook, Instagram, Telegram and Reddit. Finally, the ByBit’s referral program allows customers to receive an equivalent of 10 USD in BTC for each new trader they bring to the platform.
The Ease of Making Deposits with Bybit
As of February 2020, ByBit accepts BTC, ETH, EOS, XRP, and USDT as deposits to trade. The process starts by creating a ByBit account. The procedure is rather straightforward and revolves around the registration of your email address or mobile number. The email registration will have you enter your email and create a password, followed by the use of a verification code. A similar procedure is used with mobile registration, with appropriate codes distributed via SMS.
Once the account is created, the users would do well to check the account security settings and create a strong password linked to personal email or mobile number, while checking the option to use two-factor authentication. Authentication will be done by the user’s phone prior to gaining access to the account or making transactions, while the withdrawals will be made possible once the Google authentication option is activated.
Depositing is done in a rather intuitive manner i.e. by clicking on the Assets tab, selecting the supported cryptocurrency and interacting with the Deposit option. In order to complete this process, the system will provide you with an exchange wallet address. Supported cryptocurrencies will be used to top up one’s account as ByBit does not allow the use of fiat ones for this purpose.
In addition to featuring no minimum required deposit amounts, no fees will be charged by the platform, apart from the minuscule fee for processing the operation on the blockchain. Yet, the user should bear in mind that ByBit does not apply the same policy to withdrawals, as the currencies supported by the platform do have minimum withdrawal amounts as follows:
- Bitcoin: 0.0005 BTC
- Ethereum: 0.01 ETH
- EOS: 0.1 EOS
- Ripple: 0.25 XRP
- Tether: 5 USDT
Go to ByBit
In short, ByBit has managed to establish itself as a respectable platform for crypto-based derivatives trading. Its strong points include a robust trading platform, excellent leverage trading support and associated advanced mechanism to make it run smoother, great interface and quality security options.
LakeBtc – review and feedback about the multi-currency crypto-exchange
Let me help you save your precious time. I’ve been actively collecting and researching the best cryptocurrency sites for the last few years. From my 9-year crypto involvement, I know that finding the most valuable crypto links (sites) can be very difficult, and It doesn’t matter if you are a day trader, miner, or just an experienced beginner, trying to start with cryptocurrencies. The best collection of crypto sites will remain 100% free-to-use and with zero ads.
Are you looking to invest in cryptocurrency? Or are you planning on capitalizing on the benefits of adopting crypto as a payment option? Regardless of how you plan on utilizing crypto, it is certain that you will need the services of crypto exchanges. While this is a given, unwritten rules govern the operations of these platforms. And it is these rules that should help you choose, from a plethora of options, the best exchanges to buy cryptocurrency.
In light of this, this piece will introduce you to the technicalities that define cryptocurrency exchanges and some of the ways to identify the reliable ones. Afterward, we will walk you through our review methodology as well as our list of cryptocurrency exchanges.
What Is a Cryptocurrency Exchange?
How Do I Differentiate Between the Types of Crypto Exchanges Available in The Market?
The Governance Model of The Crypto Exchange
Cryptocurrencies, like bitcoin, opened our eyes to the possibilities of decentralization as well as the downsides of centralized systems. It is, therefore, unsurprising that the concept, which borders on autonomy, has its place within the auspices of the crypto exchange market. As such, there are decentralized cryptocurrency exchanges stylized as Dex, and they give users autonomy, as regards their private keys. In essence, a decentralized exchange allows direct communication between traders. There is no need for intermediaries or requirements that entails users to transfer the control of their holdings to exchanges.
Here, smart contracts feature prominently to deal with issues that could trigger disputes. Some of the advantages of trading on Dex is the zero or negligible transaction fee it offers users as well as its insusceptibility to attacks and hacks – since the platform does not own or operate wallets. Likewise, the framework of this class of exchanges promotes privacy. Know Your Customer and Anti-Money Laundering procedures do not apply to Dex users, especially the completely fully decentralized ones.
On the other hand, centralized trading platforms, which are the most popular crypto exchanges, stand as intermediaries and central authorities governing the activities of users. And so, they establish ecosystems, which rely on their capacity to provide fast and secure trading infrastructures. In return, central exchanges charge fees for the transactions enabled on their websites. Also, they run an exchange model that entails that users utilize their hot wallet services before they can access the platform’s exchange facilities.
Like the decentralized exchanges, the centralized ones have their advantages. Perhaps the most obvious one is the unparalleled liquidity and trade volumes they offer. Users get to carry out instantaneous trades since centralized exchanges can generate and support more activities than decentralized ones.
The Type of Exchanges the Platform Enables
The second differentiating factor of crypto exchanges is the type of trades the platform enables. Here, the details to look out for is the exchange’s readiness to facilitate fiat-related trades. Some exchanges offer users exchange facilities for trading pairs involving fiat currencies and cryptocurrencies. In other words, users can buy crypto with fiat currencies or sell cryptocurrencies for fiat directly on the sites. That said, some restrict their members to crypto to crypto trades. The type of trade you are looking to undertake would determine the class of exchanges that best suits you.
Now that you have an insight into the various classes of exchanges available to crypto participants, the next section will explore some of the questions you need to answer when considering a crypto exchange for your various crypto activities.
Is the Exchange Legal in Your Location?
By now, you should have an idea of the legal standing of crypto in your location. Needless to say, countries with strict regulatory standpoints on matters relating to crypto usually restrict the activities of crypto exchanges. For people located in such countries, trading or transacting on crypto exchanges might attract consequential penalties. As such, you should ensure that trading crypto is legal in your location before accessing crypto exchange services.
For people living in countries that allow crypto exchanges to operate, there is a need to verify that the exchange of your choice satisfies regulatory requirements. Since nations are beginning to set up frameworks for their respective crypto exchange market, it has become difficult for exchanges to run a global business model. And so, the credible ones would rather snub users located in countries with strict requirements. A case study is foreign-based crypto exchanges’ reluctance to offer services to US crypto participants because of the country’s unfavorable regulatory terrain. Participants located in this region have only one viable option, which is to patronize US-based cryptocurrency exchanges that have secured licenses to run an exchange business.
In the same way, you should check for an exchange’s legality in your location before registering or executing trades on it.
How Efficient Is the Exchange’s Customer Relation Culture?
Does the Exchange Offer Premium User Experience, And Is It Beginner-Friendly?
Does It Offer Enough Liquidity and Trade Volume?
As mentioned earlier, centralized exchanges continue to reign supreme over the market. This statement is evident in the volume of trades they process. The largest cryptocurrency exchanges in the space have the infrastructure in place to fill their users’ orders, regardless of their sizes. As such, if instantaneous trade is what you want, then large centralized exchanges are the best fit for you. Nonetheless, liquidity, which is a bit dicey, also comes to play when choosing a trading platform. You can gauge liquidity by analyzing the number of trading pairs available on the platform. For people who own diversified crypto portfolios, it is important to verify that your chosen crypto exchange has a list of trade pairs that encapsulate your crypto portfolio.
While popular cryptocurrency exchanges offer a long list of trade pairs, there is, however, no guarantee that they will support lesser-known cryptocurrencies. In this case, the best option is to look to smaller crypto exchanges or decentralized exchanges for trading services. It is imperative to sort crypto exchanges by volume or the level of liquidity they offer.
What About Its Security?
Security details of crypto exchanges are vital when you compare crypto exchanges. Taking a look at the incessant attacks on crypto exchanges, it is clear that exchanges have to do more to ensure that their platforms are safe. Hence, two-factor authentication has become standard practice for the safest cryptocurrency exchanges, as it gives their users a second level of protection. Also, you should ascertain the security precautions taken to ensure that the exchange’s holdings are less susceptible to hacks, especially for exchanges that offer custody services. The information you need to gather borders on the number of wallets assigned to hold users’ digital assets and the type of authentication measures set up for each.
You should choose exchanges that utilize multisig wallets, which require the inputs of more than one individual in the authentication process. This system curtails single-point attacks or lost assets resulting from misplaced private keys. Furthermore, there is a growing urgency within the crypto exchange space to partner with licensed custodians. You should take advantage of this paradigm shift by choosing platforms with insured wallets.
How Much Does the Platform Charge on Each Transaction, And What Are the Payment Options Available?
Note that crypto exchanges have the liberty to set any amount as their transaction fees. However, for competition’s sake, a majority of the exchanges adopt low transaction fees business models. It is now left for you to analyze the disparities between two or more crypto exchange charges to choose the most reasonable. We advise that you focus on the long-term effects of compounded charges, particularly if you are looking to execute a high volume of trades. While transaction fees may seem negligible when assessed in the short-term, its accumulation over a long period should serve as the telling factor of the platform’s viability.
Furthermore, you should ascertain the payment options available on the crypto exchange website. This assertion holds for cryptocurrency exchanges that accept USD of other fiat currencies. Depending on the policy of the crypto exchange, you might have access to several payment options, and the charges deducted on each transaction may vary.
Who Are the People Managing the Platform, And What Is Their Track Record in The Crypto Community?
It is imperative to research the team backing your preferred crypto exchange. This will help you capture the competence of the team as well as its credibility. To do this, you should ensure that the exchange, especially the centralized one, has a thriving community, which the team engages regularly. You should also check to see the commitment level of the individuals that make up the team. A simple way to go about this is to research the crypto exchange’s community-based projects and its successes. Also, track the platform’s response to security challenges that had once questioned its credibility.
Having examined the factors that should feature in your research, the next section takes a look at how Cryptolinks went about reviewing crypto exchanges in the market and picking the best among the bunch.
What Are the Factors Considered While Compiling the List of Best Crypto Exchanges?
As it is with our culture, we opted for an organic methodology, which showcased each platform’s strengths and weaknesses. While carrying out our crypto exchanges comparison, we analyzed the global reach of each platform as well as its legal standing in major regions of the world. From there, we took a look at the customer service culture of each platform to ensure that they have the resources to cater to their customer base.
Likewise, we assessed the user experience and mobile-friendliness to gauge the platform’s propensity to appeal to new entrants and a larger demographic. Liquidity and volume also came to play, as they projected the exchange’s capacity to execute orders instantaneously. Another factor that features prominently in our methodology is security checks, which helped us ascertain the measures taken to protect users’ digital assets. We expect crypto exchanges to run insured multisig wallets, and this standard was used to score the platforms mentioned in our list. Lastly, we analyzed and compared the transaction fees of each platform.
At the end of these rigorous processes, we had 75 crypto exchanges that did considerably well across all boards. We advise that you read through the pros and cons of each to identify details that could help you pick the best crypto exchange for you.
LakeBTC — один из лидеров криптовалютных бирж Китая
LakeBTC — один из лидеров криптовалютных бирж Китая. Сама компания заявляет, что сервис предоставляет высокий уровень безопасности для своих пользователей за счет современных схем управления возникающими рисками и контроля процессов. Биржа LakeBTC является шлюзом Ripple, что позволяет ее пользователям напрямую проводить американские доллары через сеть.
Несмотря на то, что сегодня биржа работает на многих языках и обслуживает различные валютные пары, ориентирована она все-таки на азиатский рынок.
Как появилась и развивалась биржа
Изначально LakeBTC стартовала в 2020 году, а затем развивалась как биржа для обслуживания биткоина, работающая виртуально. Она предназначалась для экспертов в финансовой сфере, профессиональных трейдеров. Владеет биржей известная на криптовалютном рынке китайская компания Lake Investments Limited (BVI). Обслуживанием биржевой площадки сегодня занимается Shanghai Trading IT, Inc. Штаб-квартира находится в Китайской Народной Республике, городе Шанхай.
Сегодня функционирование биржи, ее развитие, модернизация, совершенствование преследует только одну задачу — дать пользователям (трейдерам и инвесторам) со всего мира возможность торговать криптовалютой на выгодных условиях, возможность улучшить собственное материальное положение, что по принципу личного экономического интереса будет способствовать укреплению и развитию всей мировой экономики. Ресурсом сегодня активно пользуются как профессионалы, так и новички, которые только начинают осваивать технологию блокчейна постигать азы биткоина.
Таким образом, биржа появилась относительно недавно, но уже успела завоевать верхние строчки мировых рейтингов наиболее надежных биржевых площадок. Сегодня биржа продолжает свое развитие, несмотря на ужесточение законодательной базы Китая и других стран. Недавно LakeBTC обзавелась официальным зеркалом на случай, если основной сайт будет заблокирован какой-либо страной. Таким оьразом, если Вы используете биржу для проведения операций, но государство ограничивает доступ к ней, есть возможность продолжить работу через зеркало.
- Выбор криптовалют. Сегодня LakeBTC предлагает на выбор 3 крипты: Bitcoin, Litecoin и Ripple.
- Число валютных пар. Всего LakeBTC обслуживает 10 валютных пар. Наиболее популярными из них являются: BTC/JPY, BTC/EUR и BTC/CAD.
- Вывод криптовалют. Как было сказано выше, LakeBTC стала шлюзом Ripple, что позволило выводит через нее криптовалюту.
- Ограничения по выводу. На данный момент ограничений нет.
- Возможность ввода-вывода фиатных денег. Есть.
- Комиссия. Покупка биткоинов осуществляется с комиссией 0 – 0,15% от сделки, продажа — 0,2%. Комиссия за снятие средств варьируется от 0,1% до 0,3% + обязательный платеж 5 долларов.
- Уровень безопасности. Высокий. Биржа активно использует инновационные решения и технологии для снижения рисков потерять вложенные средства: холодные кошельки, СМС- подтверждение вывода, двухступенчатая аутентификация пользователей и так далее. Имеется устойчивость к вредоносным модулям в браузере OpenPGP, captcha и так далее.
- Пользовательские данные (верификация). Функционал биржи доступен только зарегистрированным пользователям. Для этого нужно предоставить: адрес электронной почты, пароль, а затем подтвердить пароль. После этого нужно ввести следующие данные: являетесь ли вы резидентом КНР, штата Нью-Йорк или Вашингтон. Если вы планируете ограничиться работой с криптовалютой , верификация не обязательна.
- Защита аккаунта. Для максимальной защиты пользовательских аккаунтов используются следующие технологии: ML, защита от DDOS-аттак, пин-код для финансовых операций, двухфакторная аутентификация.
- Способы ввода-вывода средств. Вводить средства можно следующими способами: Paypal, Okpay, Perfect Money, Western Union. Выводить средств можно следующим образом: Western Union, Perfect Money, Okpay, Paypal, Neteller.
- Суточный объем торгов. В сутки он составляет 740 455 094 RUB или 1 302 BTC. По парам: BTC/JPY — 92 402 117, BTC/EUR — 63 950 694, BTC/CAD — 18 479 921.
- Удобство интерфейса. LakeBTC имеет 2 варианта интерфейса: стандартный интерфейс и площадка LakeTrader. На стандартном интерфейсе выполняются транзакции в юанях и американских долларах, отображается биржевой стакан. В биржевом стакане есть все необходимое — возможность покупки/продажи BTC по оптимальной стоимости. История торгов и актуальные предложения при этом размещаются в поле слева.
- Страна/регион. Китайская Народная Республика.
- Поддержка языков. На данный момент поддерживается английский, китайский, французский, японский и шведский языки. Русский язык пока не поддерживается.
- Особенности. Полезной опцией для пользователей будет функция “Dark Pool”. Данная опция позволяет некоторым пользователям (тем, у кого на счете есть 50 и более биткоинов) не отображать свои транзакции в общем биржевом стакане, который имеет публичный доступ. По заявлению компании, данная опция позволяет исключить воздействие крупных сделок на показатель волатильности, чтобы также дефляция и инфляция оставались незатронутыми.
LakeBTC — перспективная биржа, завоевавшая доверие рынка многих стран. Важно отметить, что пользователям предлагается использовать кошелек Bitcoin Core, который гарантирует высокий уровень анонимности.
LakeBTC Exchange: Shanghai Based Bitcoin Exchange
With so many cryptocurrency exchanges in the market, the traders usually get confused with what exchange is best, which one to choose, so-on, so forth. This LakeBTC review is a step to help traders. I will explain the LakeBTC exchange, its features, and other aspects.
LakeBTC is renowned to be Lake Banking Technology Company started in the year 2020 as virtual Bitcoin Exchange. The company has started for those interested in cryptocurrencies and blockchain technology.
The aim of LakeBTC is to become the best Bitcoin platform over the world with keen experience in internal control and risk management. High liquidity and fast trade match are the two key attributes that make them separate from other exchanges.
Key points of LakeBTC
Bitcoin wallet service
With Bitcoin Wallet service, users can either withdraw bitcoin to their own wallets or they can leave it on the LakeBTC wallet itself. To certify the user fund’s security, the website has taken steps as cold storage, 2-step verification, SMS withdrawal confirmation, and trade notifications.
However, this allows businesses to accept payments virtually for free. This process is easy and informal to integrate than traditional payment methods like credit cards.
Exceptional user experience
The company is proud to have an exceptional support team to assist its users in solving issues concerning trading, withdrawals, password recovery, registration, login, etc.
The company focuses on 4 key aspects
- Security: In order to secure the funds and privacy of users, the security management is backed by an experienced team. The team also comes with apparatus like SSL encryption, cold storage, SMS withdrawal confirmation, trade notification, and so on. Along with these, the company is available with highly secure market data and trading API’s for advanced users.
- Liquidity: Though, LakeBTC exchange offers high liquidity to its individual investors, merchants, exchanges, miners, funds, arbitrageurs and professional trading firms. This feature allows its users listing price in several indexes.
- Fairness: In order to protect the investor’s interest, the company provides an efficient marketplace. It is integrated with comprehensive risk management, strict internal controls and market manipulations.
- Service: Furthermore, the LakeBTC exchange is supported by exceptional user experience to provide its customer friendly experience. They solve your questions concerning password recovery, trading, APIs and withdrawals.
How to get register in Lake BTC exchange:
Users have to visit the LakeBTC website and it provides accessible view to registration. User registration can be possible by just adding email, a password in the required field. After registration, they will send a confirmation email to their email ID. After link confirmation, the user can log in to their accounts directly.
Although LakeBTC does not require any personal details for verification for crypto trading. But the exchange requires KYC verification for trading with fiat currencies.
The following documents are necessary for KYC:
- Please supply your full name, address, government-issued photo ID, ID images (both sides if applicable).
- Examples of proof of residency include electricity, gas, cable, phone bill or bank statement from within the last 3 months.
- An image of you holding your ID in your hand facing the camera is necessary for users
- with high volume bank wires,
- who intend to use System Banker for bank wire deposits/withdrawals
- JPEG image files under 1MB each are preferred. Do NOT cover or crop the documents.
Note: LakeBTC does not accept USA or China citizens.
The exchange has 3 types of trades. I have explained the trade feature in this LakeBTC review.
LakeBTC has a very simple interface for buying/selling cryptocurrencies.
LakeBTC has an OTC trading feature. With LakeBTC, traders can trade on exchanges that do not meet requirements to have a listing on a standard market exchange. Besides OTC, LakeBTC also offers exchange trading services that are safe, liquid, and easy to use.
LakeBTC trade platform is known as LakeTrader. The trade platform allows advanced users to access to various trading options easily. There are many tools along with the graphical chart for trade pairs.
When a trader reads this LakeBTC review, one question arises is regarding exchange fees. The exchange platform does not have any deposit fees, while withdrawal has a flat network fee of 0.001 BTC.
Trading Fees depend on whether you are a Taker or Maker. Taker has a fixed 0.2% fees, while maker fees depend on the past calendar month. It ranges from 0% to 0.15%.
Also, there are OTC Trading and LakeBanker charges. Go through the official website for more details.
LakeBTC has a unique concept known as LakeBanker. By acting as a LakeBanker, the users can help people in their neighborhood/country to try bitcoins out easily and inexpensively, It is a profit-making program for the users. It’s easy to set up and simple to use, and there are no risks involved.
To become a LakeBanker, users have to complete the KYC verifications.
There is no official mobile app or desktop client for LakeBTC. There are some unauthorized mobile apps in the market; The exchange has advised against them.
Traders can access the exchange through its official website or their native API.
LakeBTC Referral Program
However, beside working as crypto exchange, the LakeBTC is having referral program which are Tier-1 Referral, Tier-2 Referrals and Tier-3 Referrals.
Furthermore, for these three referrals, users earn trading commission fees they generated. The exchange pays the following commission:
More info on LakeBTC referral program is provided here in this source: https://www.lakebtc.com/s/ref
For Security purpose, they secure accounts with a 2Fa layer, SMS for withdrawals and trade notifications. Along with this, the exchange also uses the latest SSL encryption technology and keeps traders funds in cold storage.
To summarise, LakeBTC is a good exchange platform.
Do you have good or bad experiences with this Bitcoin Exchange? Please share them on our Twitter and Facebook pages.
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