LakeBTCis a cryptocurrency exchange that provides traders with a platform and tools for the trading of multiple cryptocurrencies. It is one of the four exchanges around the world that determines the Coindesk Bitcoin Price Index (BPI), hence they are referred to as the Big Four Bitcoin Exchange. There are multiple account options available to clients.
LakeBTC Review, Pros & Cons
- A variety of payment methods
- Multiple cryptocurrencies
- Trading & learning tools
- Unregulated exchange
- No USA clients
- No MetaTrader platforms
- Limited trading instruments
- No contact telephone number or live chat support
In this detailed LakeBTC review, our online broker research team has covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.
Founded in 2013, LakeBTC is a cryptocurrency exchange based in Shanghai, China. They give traders the opportunity to buy and sell multiple digital assets online. They state that security, liquidity, and service are their unique features. Hence, they use the latest SSL encryption technology, provides excellent liquidity to traders, and strives to give traders the best trading experience. They also offer Bitcoin Wallet service to clients.
The LakeBTC website contains no regulatory information at the moment. Many experts and professionals would not trade with an unregulated broker as they cannot offer the same protection to investors that a regulated brokerage firm can. Please see our trading broker reviews for alternative regulated brokers.
They do not accept traders from countries or jurisdictions where the use of their services would contradict any local law or regulation. They state specifically that they do not accept clients from the United States of America.
Some LakeBTC features and products mentioned within this LakeBTC review may not be available to traders from certain countries because of legal restrictions.
The Exchange provides traders with a simple and easy-to-use trading platform that is built with professional trading tools. The LakeTrader is a browser-based bitcoin trading app with live data, pro charting, and one-click trading, which are convenient to all users. It has a user-friendly interface, and since it is a cross-platform HTML app, the user experience is identical irrespective of platform or device.
LakeBTC Trading Tools
Trading tools including Trade APIs are provided by the Exchange to ensure a seamless trading process.
The LakeBTC’s website has a good selection of educational resources, such as a well-detailed FAQ section, news, interviews, articles, and more.
LakeBTC offers the following tradable coins: Bitcoin, Ethereum, Bitcoin, Bitcoin Cash, Ripple, and more.
LakeBTC Accounts & Fees
The Exchange offers three account types, namely: Unverified, Individual, and Corporate Accounts. Traders are allowed to choose the account type that best suits their trading needs.
As broker fees can vary and change, there may be additional fees that are not listed in this LakeBTC review. It is imperative to ensure that you check and understand all of the latest information before you open a LakeBTC broker account for online trading.
The Exchange offers a knowledgeable client support team that can be contacted through email.
LakeBTC Deposit & Withdrawal
The Exchange accepts a wide variety of payment methods for account deposits and withdrawals. They include bank wire, Western Union, MoneyGram, Cash, and various online payment processors, including Neteller, PayPal, and Skrill.
LakeBTC Account Opening
To open an account, click on the ‘Register’ button on the homepage of the Exchange’s website and proceed to provide the required information and documents.
It is imperative to ensure that when you are going through a broker application, you clearly read all of the broker’s terms, conditions, and policies. Only proceed if you fully understand and agree to them.
LakeBTC is a cryptocurrency exchange that operates from Shanghai, China. They offer top security, high liquidity, and competitive trading services to clients. Traders are able to trade a wide variety of digital assets using the web-based trading platform, along with a range of trading and learning tools, as well as a client support team. There are multiple account options and payment methods available to clients. However, there are no regulatory laws on the Exchange’s website currently.
Digital assets trading involves significant risk. Prices may fluctuate due to the volatile nature of digital assets. large variations in digital assets can render them worthless in a short and unexpected period of time. There is an inherent risk that losses will occur as a result of digital exchanges. Digital assets also present risks that are generally not shared with official currencies or goods or commodities in a market.