Lbank vs Kraken: Fees, Coins, Safety Comparison
| Feature | Lbank | Kraken |
|---|---|---|
Overall |
3.0 |
4.5 |
1 |
4.8 |
|
3.7 |
4.1 |
|
3.9 |
4.5 |
|
Investment Instruments |
3.4 |
3.7 |
Platforms and Charting Tools |
3.4 |
4.5 |
Deposit and Withdrawal |
3.7 |
4.0 |
Research |
3.5 |
4.3 |
Education |
2.3 |
4.2 |
Support |
3.2 |
4.3 |
Bonuses |
2.4 |
2.0 |
|
Your capital is at risk.
|
Your capital is at risk.
|
Lbank vs Kraken: Pros and Cons
The Lbank crypto exchange offers a convenient service for margin, futures, options, and ETF cryptocurrency trading. Bitcoin (₿), Litecoin (Ł), Ethereum (Ξ), Tether (₮), Ripple and dozens of other cryptocurrencies, and tokens are available for trading on the exchange. The US dollar and Chinese yuan are represented from fiat currencies, direct credit card deposits and cryptocurrency purchases are possible without depositing your own funds. A simplified service for fast trading is integrated into the exchange. The platform allows investing in third-party blockchain projects with a flexible deposit and high interest rates. There is a one-level referral program. The key feature of the exchange is an objectively low fixed commission on trading transactions (0.1%).
The Kraken exchange is a trading platform for Bitcoin, Ethereum, Tether, Cardano, XRP, other cryptocurrencies, and stablecoins. Fiats are represented by EUR, USD, CAD, CHF, AUD, GBP, and JPY. In addition to margin trading, Kraken has indices and futures trading. The exchange provides traders with x5 leverage for margin trading and x50 for futures. Commission fees are among the lowest on the market - up to 0.26%. The crypto exchange has a proprietary trading terminal for an internet browser, as well as mobile applications for iOS and Android devices. The platform offers an extensive knowledge base, tutorials, and video podcasts with news and analytics. The referral program is the standard single-level model with a yield of 20% of the referral’s commission fees.
| Lbank | Kraken | |
|---|---|---|
| Overall Pros | tons of cryptocurrencies and tokens, margin, futures, options, and ETF trading; | 2 FA authentication |
| two fiat currencies — US dollar and Chinese yuan, most deposit/withdrawal options are available, including debit cards; | Low minimum deposit | |
| Passive income with staking | ||
| direct purchase of cryptocurrency using bank cards and accounts is possible; | Regulated in several countries | |
| profitable investment programs for passive income on unused cryptocurrency; | Minimum maker fee $0 | |
| standard referral program with interest payments from the commission of the invited user; | Over 50 indicators and 16 drawing tools | |
| Overall Cons | no demo accounts, training programs, or specialized solutions for beginners; | NFTs are not available |
| connection with the technical support of the company is only by email; | ||
| no call center. |
Lbank vs Kraken: Safety and Regulation
| Regulated By: | Lbank | Kraken |
|---|---|---|
SEC |
No |
No |
FINRA |
No |
No |
SIPC Protection |
No |
No |
Other Regulators |
No |
FinCEN (USA), FINTRAC (Canada), FCA (Great Britain), FSA (Japan), AUSTRAC (Australia) |
Lbank vs Kraken: Trading Conditions
| Trading Conditions | Lbank | Kraken |
|---|---|---|
Minimum Deposit |
No |
$1 |
Trading Platforms |
TradingView |
Web, Mobile, Mobile Pro |
Max Leverage (Futures) |
No |
1:5 |
Number of Markets |
497+ |
374 |
Trading Accounts |
1 |
1 |
Base Account Currencies |
Cryptos, USD, CNY |
USD, EUR, GBP, AUD, CAD, CHF, JPY + 98 Crypto |
Lbank vs Kraken: Fees
Trading Fees
| Fee | Lbank | Kraken |
|---|---|---|
Max Maker |
0.10% |
0.16% |
Max Taker |
0.10% |
0.26% |
Min Maker |
0.10% |
0 |
Min Taker |
0.10% |
0.1% |
Debit/Credit Card Purchase Fee |
0 |
3.75% + $0.25 |
Futures Trading fees
| Fee | Lbank | Kraken |
|---|---|---|
Max Maker |
0.10% |
0.02% |
Max Taker |
0.10% |
0.05% |
Min Maker |
0.10% |
0 |
Min Taker |
0.10% |
0.01% |
Non-Trading Fees
| Fee | Lbank | Kraken |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
$0-$10 |
Bank Transfer Withdrawal Fee |
Not supported |
4-35 USD |
Debit/Credit Card Withdrawal Fee |
Not supported |
3.75% + $0.25 |
BTC Withdrawal Fee |
0.0001 |
0.00001 BTC |
Inactivity Fee |
No |
No |
Lbank vs Kraken: Trading Assets
| Asset Name | Lbank | Kraken |
|---|---|---|
Overall |
497+ |
167+ |
Bitcoin (BTC) |
Yes |
Yes |
Litecoin (LTC) |
Yes |
Yes |
Dogecoin (DOGE) |
Yes |
Yes |
Binance Coin (BNB) |
Yes |
No |
Uniswap (UNI) |
Yes |
Yes |
Ripple (XRP) |
Yes |
For non US Users |
Polkadot (DOT) |
Yes |
Yes |
Cardano (ADA) |
Yes |
Yes |
Stellar (XLM) |
No |
Yes |
IOTA (MIOTA) |
No |
Yes |
Tron (TRX) |
Yes |
Yes |
Derivatives (Futures) |
Yes |
Yes |
NFT |
No |
Yes |
Crypto ETF |
No |
No |
Lbank or Kraken: Investment Programs
| Asset Name | Lbank | Kraken |
|---|---|---|
Staking |
Yes |
Yes |
Mining pool |
No |
No |
Managed Accounts |
No |
No |
MAM/PAMM |
No |
No |
Other |
No |
No |
Trading Platforms: Kraken or Lbank
| Lbank | Kraken | |
|---|---|---|
Web |
Yes |
Yes |
Desktop |
No |
No |
Mobile (Android, iOS) |
Yes |
Yes |
|
Your capital is at risk.
|
Your capital is at risk.
|
Trading Platforms Features: Kraken or Lbank
| Lbank | Kraken | |
|---|---|---|
SMS Based 2 FA |
Yes |
No |
App Based 2 FA |
Yes |
Yes |
Voice Call 2 FA |
No |
No |
Search Bar |
No |
Yes |
Filters |
No |
Yes |
Technical Analysis: Kraken or Lbank
| Lbank | Kraken | |
|---|---|---|
Indicators |
Yes |
50+ |
Drawing tools |
Yes |
16+ |
Historical Trades |
Yes |
Yes |
Live 2 Quotes |
Yes |
Yes |
Mobile trading: Kraken or Lbank
| Lbank | Kraken | |
|---|---|---|
iOS Version |
Yes |
Yes |
Android Version |
Yes |
Yes |
Apple Watch App |
No |
No |
Touch ID |
No |
No |
Face ID |
No |
No |
Types of orders: Kraken or Lbank
| Lbank | Kraken | |
|---|---|---|
Market |
Yes |
Yes |
Limit |
Yes |
Yes |
Stop Loss |
No |
Yes |
Stop Limit |
Yes |
Yes |
Trailing Stop |
No |
No |
Lbank vs Kraken: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Lbank | Kraken |
|---|---|---|
Bank Transfer |
Yes |
Yes |
Credit/Debit Card |
Yes |
Yes |
Electronic Wallets |
No |
No |
Crypto |
Yes |
Yes |
Lbank vs Kraken: Research
| Research Type | Lbank | Kraken |
|---|---|---|
News Feed |
No |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Lbank vs Kraken: Education
| Education Type | Lbank | Kraken |
|---|---|---|
Demo-account/Paper Trading |
Yes |
No |
Courses |
No |
No |
Articles |
No |
Yes |
Videos |
No |
Yes |
Webinars |
No |
Yes |
Kraken vs Lbank: Support
| Support Features | Lbank | Kraken |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
Yes |
|
Phone |
No |
Yes |
Online chat |
Yes |
Yes |
Other |
No |
No |
Lbank vs Kraken: Crypto Bonuses and Promo
| Promo | Lbank | Kraken |
|---|---|---|
Crypto Bonus |
No |
No |
Affiliate Program |
Each user who follows your referral link and registers at the site will become your referral (partner). The advantage of a referral to register through your link is that he will get a welcome bonus on the first deposit of 20%. Your benefit is tremendous. For each referral, you get 20% of commission for all his further trading transactions. |
up to $1000 per refferal |
|
Your capital is at risk.
|
Your capital is at risk.
|
Top 5 Reviews on Kraken
-
Comment
Kraken offers a wide range of cryptocurrencies and has a solid reputation in the industry, but serious issues with usability, customer support, and reliability detract from its appeal as a crypto exchange option.
-
Comment
I have to say they are scammers. He believed in Kraken, held coins on their crypto exchange. I recently found out that they deducted 50% of the balance from my trading account because I had not logged into my account for a long time. Who does this! And this without warning, of course!
-
Comment
It used to be not bad here, but every year the Kraken exchange dies down, as its turnover falls. Now it cannot be said that this is a large exchange, which it once was ...
-
Comment
I tried different exchanges, eventually settled on Kraken. Here are the best conditions for me. I have my favorite tools, the platform is understandable, I figured it out quickly and so far (for six months) nothing has lagged. The commission is also adequate, often below the market. Analytical materials are generally informative. But I’ll clarify right away: I was initially interested in a broker for active independent trading. There are no investment programs in Kraken, and that suits me. If you want extra income, then this is not your option, don't waste your time. I won’t say anything about beginners: on the one hand, Kraken provides basic training, but you can’t call the support service, except for a ticket or a chat.
-
Comment
I see that many people praise the Kraken exchange for its reliability and comfortable conditions for cooperation. I've been using this platform for about a year, and it's really good here. I would also like to note a high-quality trading terminal, it is simple and at the same time functional, even take profit and stop loss are integrated. The Kraken exchange has many advantages, so I will not list all of them. You will see for yourself if you register. I just want to name the cons such as the lack of telephone communication and investment programs. Also, the exchange favors active traders.
Top 5 Reviews on Lbank
-
Comment
Customer support is slow to respond, and security concerns are unsettling. Additionally, the lack of clear information about transaction fees can make it challenging for users to accurately assess the costs of trading on Lbank, further adding to the frustration and dissatisfaction among clients. Lbank falls short of expectations, and I would advise caution when using it.
-
Comment
They called from Lbank Exchange and said that they take all the funds from my deposit to the account in payment for a telephone conversation with the manager. And they chose the tone, well, very persistent and arrogant! They stole $450 from me! Shame is simple, it's just thieves!
-
Comment
Lbank is a scam. The conditions that are allegedly offered for trading tend to change. It turns out that the benefit is doubtful from trading in this company. You can try, of course, to trade here, but I don’t think anyone will like it.
-
Comment
I started trading on Lbank in 2020. Everything went fine and I even managed to withdraw my first profit. Over time, the company has significantly improved its service and diversified its range of assets. In addition to actively trading on this platform, I also passively invest here. The staking conditions are just fine.
-
Comment
A perfect Lbank exchange is still far away, but over time it may well take a place at the top. In many respects, the exchange is already winning against a background of competitors because it has a loyal commission policy, a wide variety of assets, and opportunities for both active and passive earnings. During the six months that I have been trading here, I have not seen problems with either the execution of transactions or the withdrawals of profit. The service works 24/7. The minuses include a weak support team and the lack of a variety of communication channels.
FAQs
What should I start Crypto trading with?
For starters, you need to learn what crypto trading is, understand what cryptocurrency is and the risks and opportunities cryptocurrency trading has. It is also important to learn the existing strategies. The second step is to choose the best crypto exchange with good trading conditions. A demo account that you can use to gain valuable experience risk free is an important advantage of an exchange.
What amount should I start trading with?
It is recommended to start trading cryptocurrencies with a small amount. That way, if you partially lose it, it won’t pose a serious financial problem for you. This is because cryptocurrencies are highly volatile, which carries certain risks for novice traders. The majority of cryptocurrency exchanges allow traders to start from a small amount – from $1 to $50 or its cryptocurrency equivalent.
What should I take into consideration when choosing a crypto exchange?
The first thing experts recommend looking at when considering crypto exchanges is their reliability. Other important features include basic trading conditions, commissions and fees, customer reviews. If crypto exchanges are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One crypto exchange may be good for professionals and another – for novice traders.
Can a cryptocurrency exchange turn out to be a scam?
Unfortunately, this does happen. Therefore, it is better to choose cryptocurrency exchanges that have been operating in the market for at least several years and have a stable reputation. Regulation of an exchange in one of the countries with high legal culture is also an advantage.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.