LakeBTC reviews and reviews of the official exchange website
LakeBTC is one of the leaders of cryptocurrency exchanges in China. The company itself states that the service provides a high level of security for its users through modern risk management and process control schemes. LakeBTC is a Ripple gateway that allows its users to directly send US dollars through the network.
Despite the fact that today the exchange works in many languages and serves various currency pairs, it is nevertheless oriented to the Asian market.
Initially, LakeBTC started in 2013, and then developed as a virtual exchange for bitcoin services. It was intended for experts in the financial sector, professional traders. The exchange is owned by the Chinese company Lake Investments Limited (BVI), a well-known cryptocurrency market company. The trading platform is currently serviced by Shanghai Trading IT, Inc. The headquarters is located in the People’s Republic of China, Shanghai.
Today, the functioning of the exchange, its development, modernization, improvement pursues only one task – to give users (traders and investors) from all over the world the opportunity to trade cryptocurrency on favorable terms, the opportunity to improve their own financial situation, which, on the principle of personal economic interest, will help strengthen and develop the whole World economy. The resource today is actively used by both professionals and beginners, who are just starting to learn the technology of blockchain to learn the basics of bitcoin.
Thus, the exchange appeared relatively recently, but has already managed to win the top lines of the world ratings of the most reliable exchange platforms. Today, the exchange continues its development, despite the tightening of the legislative framework of China and other countries. Recently, LakeBTC has acquired an official mirror in case the main site is blocked by any country. So, if you use the exchange for operations, but the state restricts access to it, there is an opportunity to continue working through the mirror.
- The choice of cryptocurrencies. Today LakeBTC offers a choice of 3 crypts: Bitcoin, Litecoin and Ripple.
- The number of currency pairs. In total, LakeBTC serves 10 currency pairs. The most popular of them are: BTC / JPY, BTC / EUR and BTC / CAD.
- Conclusion of cryptocurrencies. As mentioned above, LakeBTC became the Ripple gateway, which allowed it to withdraw cryptocurrency through it.
- Limitations on withdrawal. There are no restrictions at the moment.
- Possibility of input-output of fiat money. There is.
- Commission. Buying bitcoins is carried out with a commission of 0 – 0.15% of the transaction, sale – 0.2%. The withdrawal fee varies from 0.1% to 0.3% + a mandatory payment of $ 5.
- Security level. Tall. The exchange actively uses innovative solutions and technologies to reduce the risk of losing invested funds: cold wallets, SMS confirmation of withdrawal, two-step user authentication, and so on. There is resistance to malicious modules in the OpenPGP browser, captcha and so on.
- User data (verification). The functionality of the exchange is available only to registered users. To do this, provide: email address, password, and then confirm the password. After that, you need to enter the following data: whether you are a resident of China, New York State or Washington. If you plan to limit yourself to working with cryptocurrency, verification is not required.
- Account protection. The following technologies are used for maximum protection of user accounts: ML, protection against DDOS attacks, PIN code for financial transactions, two-factor authentication.
- Methods of depositing / withdrawing funds. You can enter funds in the following ways: Paypal, Okpay, Perfect Money, Western Union. Withdraw funds as follows: Western Union, Perfect Money, Okpay, Paypal, Neteller.
- Daily trading volume. In a day it makes 740 455 094 RUB or 1 302 BTC. For pairs: BTC / JPY – 92 402 117, BTC / EUR – 63 950 694, BTC / CAD – 18 479 921.
- Convenience of the interface. LakeBTC has 2 interface options: standard interface and LakeTrader platform. On the standard interface, transactions in RMB and US dollars are performed, the stock glass is displayed. The stock glass has everything you need – the ability to buy / sell BTC at the optimal cost. The trading history and current offers are placed in the field on the left.
- Country / Region. People’s Republic of China.
- Language support. Currently supported are English, Chinese, French, Japanese and Swedish.
- Features A useful option for users would be the ‘Dark Pool’ feature. This option allows some users (those who have 50 or more bitcoins on their account) not to display their transactions in a common exchange glass that has public access. According to the company, this option eliminates the effect of large transactions on the volatility index, so that deflation and inflation remain unaffected.
- LakeBTC is a promising exchange that has gained market confidence in many countries. It is important to note that users are encouraged to use the Bitcoin Core wallet, which guarantees a high level of anonymity.
- The site offers its users an anonymous and fairly reliable Bitcoin Core wallet.
- There is a three-level referral program on LakeBTC: you invite a user, the user you attracted leads others, invited invitees bring more new people. Each level has its own bonuses – 30%, 10%, 3-5%.
- A large number of auxiliary trading tools, charts and applications for analyzing the current market situation.
- Profitable commissions – the terms of transactions here are really good, given that commissions decrease as your activity grows.
- The site has a wide selection of options for depositing / withdrawing funds.
- The company cares about the security of your investments and offers two-factor authentication and a cold storage for coins.
- The site is not translated into Russian, so if you do not know English, it will be difficult to deal with all the nuances of its work.
- Users on the network complain that technical support is slow and the site freezes from time to time.
In general, LakeBTC is a convenient and advanced cryptocurrency trading platform. Working with this site is safe and quite profitable. Commissions are initially low, and also decrease as your activity grows. There is a referral program, a large selection of trading pairs and methods of working with orders. Especially this platform is suitable for professional traders and large investors. There are many useful tools and great offers for this type of user.