Lbank - A KYC-free exchange (CEX) that I appreciate

[rony_btc]

Lbank, a reputable centralized crypto exchange without KYC and with low fees (0.1% max) on desktop or mobile (app):

I know that Lbank doesn't have a very good reputation, and yet...

I have been using Lbank regularly since December 2024 to trade (spot, as an amateur) BTC, LINK, XRP, USDT, USDC, and others. It is based in Hong Kong and is not regulated in Europe, which is one of its big advantages! Even though the “My Account” page says you need to do KYC to start trading, KYC is not mandatory to trade on Lbank. I only use it on my computer (web), but they also have a mobile app.

I don't avoid KYC to avoid paying taxes, but for my security and privacy. As you know, the less personal information I have on the web, the less risk I have of being attacked at home or falling victim to other unfortunate events (identity theft, targeted phishing, and so on).

I discovered Lbank one day in December 2024 because they were one of the few platforms to list the altcoin LUIGI (Luigi Mangione). I wasn't particularly interested in the character, but the name Luigi means a lot to me because it was important in my youth... So I saw it as a sign and bought some Luigi, which is how I discovered Lbank...

I didn't have much confidence in Lbank at first because the few reviews/articles you can find in Europe about this exchange aren't very encouraging (are the European administrators trying to scare us?!), but I find this platform comprehensive, interesting (low fees), and reliable! Real-life example: In February 2025, I lost my Google Authenticator code and couldn't access my Lbank account, which had about $6K in it! I thought, “That's it, I'm going to lose my money!” Well, no, because I contacted support via Lbank chat and a person (a nice change from the bots on many platforms) spent over half an hour with me to help me provide proof that the account was mine and agreed to ask support to reset Google Authenticator. Since I hadn't done the KYC, I had to provide screenshots of emails I had received from Lbank for successful transfers and trades. But I didn't know it was wise to keep these emails, so I didn't have the ones they were asking for! Fortunately, the person found an alternative solution and I had still kept a few emails and, of course, the exact amounts and dates on my spreadsheet. A few hours after the chat, I had access to my account and was able to restart Google Authenticator with a new key. Phew!

Since that day (a year ago), I have complete confidence in Lbank because they solved a big problem with my account (entirely my fault) and solved the problem in just a few hours, despite the absence of KYC! This is a change from Kraken and others, who sometimes block accounts for weeks or months, despite the KYC being done!!!

I think people mainly write on the web when they are dissatisfied and generally forget to write when they are satisfied with a platform.

I often have a 5-figure balance on Lbank for weeks, with no trading or withdrawal issues. I see on the ETH blockchain that some people are handling sums in excess of $250,000 on Lbank...

I have made dozens of withdrawals to my cold wallets, but also to other entities, and Lbank never asks for anything (“Is this your personal wallet?”, “Reason for withdrawal?”, “Where is the withdrawal going?”). None of that! I withdraw cryptos when I want, where I want, and for the amount I want. Total freedom, speed, peace of mind, zero stress! A very clear interface (web-based for me, but also available as a mobile app) allows you to choose the crypto to withdraw, the mode (on-chain or to another Lbank user, which can be another account of mine), enter the destination address, and choose the network (many networks supported). The fees are clearly indicated and there are no nasty surprises. The fees are quite high for withdrawing BTC: 0.001 BTC (i.e., $6-12 depending on the BTC rate), but for most other cryptocurrencies (USDT, USDC, etc.) it's a fixed $1 or even less. Personally, I prefer to pay a little more for transfers (which are quite rare) than for trades! And privacy is well worth these few fees.

The same goes for crypto deposits (no questions asked) and no fees charged. An email notifies us as soon as the crypto is on its way on the blockchain, even before it arrives. The entire history is available for consultation.

I only do basic SPOT trading on Lbank, but the platform offers many ways to invest in crypto: futures (leverage), copy trading, events, Earn, etc.

For SPOT trading, the interface is professional and comprehensive but easy to use: everything is clear, explained, and in English (many languages supported). I find the Lbank site much easier to use that Binance. The online help is well translated into French! For example, to explain the different types of orders (limit, market, etc.), a small “?” button opens a very clear pop-up window with graphics, text, a page for each type of order, ‘buy’ and “sell” explained separately, etc. Very well done!

You can buy/sell immediately or place orders: the page is the same and all the options are right there in front of you. Lbank offers “limit,” “market,” “trigger,” and even “OCO” orders (double order, e.g., sell if the asset reaches a price of $92,500 while selling if it falls below $85,000). All this comes with a base fee of 0.1%, but if you have more than $10,000 in your account, Lbank will upgrade you to VIP1 within a few days and the fees will drop to 0.08%! Other VIP levels exist, with even lower fees, but you need to have more money in your account.

Beyond the savings, these low fees allow me to buy and sell even if the BTC has only moved a little, without the fees canceling out my gains or causing a loss.

It is possible to buy/sell crypto from a FIAT currency (Euros, $, etc.), but obviously, I don't recommend it because KYC will be required! It's better to go through P2P or something else...

Warning for Swiss users: Lbank refuses customers who connect from this country. Use a VPN connected to France, Spain, Portugal, or elsewhere...

As you can see, I am a real fan of Lbank! Of course, this is just my opinion as a user. I would like to reiterate that I trade as an amateur, mainly BTC, a little ETH and (rarely) a few altcoins...

Link (not sponsored) to the website: https://www.lbank.com/fr

[Potato Chips]

It's not an actual KYC free platform, because like a typical custodial CEX, they can freeze accounts and request for further personal information—proof of source of funds, address, recording, etc. Compare them with actual true KYC-free exchanges which will never ask for KYC under any circumstances.

Looking into their support write-ups, I think your case was part of the exception, thus the KYC was not mandatory for you as oppose to others. Though it's odd that there is "you need to do KYC to start trading" in your acc.


Source: https://www.lbank.com/support/articles/1983841341594927104

[b1ack]

Lbank, a reputable centralized crypto exchange without KYC and with low fees (0.1% max) on desktop or mobile (app):

I know that Lbank doesn't have a very good reputation, and yet...

I have been using Lbank regularly since December 2024 to trade (spot, as an amateur) BTC, LINK, XRP, USDT, USDC, and others. It is based in Hong Kong and is not regulated in Europe, which is one of its big advantages! Even though the “My Account” page says you need to do KYC to start trading, KYC is not mandatory to trade on Lbank. I only use it on my computer (web), but they also have a mobile app.

I don't avoid KYC to avoid paying taxes, but for my security and privacy. As you know, the less personal information I have on the web, the less risk I have of being attacked at home or falling victim to other unfortunate events (identity theft, targeted phishing, and so on).

I discovered Lbank one day in December 2024 because they were one of the few platforms to list the altcoin LUIGI (Luigi Mangione). I wasn't particularly interested in the character, but the name Luigi means a lot to me because it was important in my youth... So I saw it as a sign and bought some Luigi, which is how I discovered Lbank...

I didn't have much confidence in Lbank at first because the few reviews/articles you can find in Europe about this exchange aren't very encouraging (are the European administrators trying to scare us?!), but I find this platform comprehensive, interesting (low fees), and reliable! Real-life example: In February 2025, I lost my Google Authenticator code and couldn't access my Lbank account, which had about $6K in it! I thought, “That's it, I'm going to lose my money!” Well, no, because I contacted support via Lbank chat and a person (a nice change from the bots on many platforms) spent over half an hour with me to help me provide proof that the account was mine and agreed to ask support to reset Google Authenticator. Since I hadn't done the KYC, I had to provide screenshots of emails I had received from Lbank for successful transfers and trades. But I didn't know it was wise to keep these emails, so I didn't have the ones they were asking for! Fortunately, the person found an alternative solution and I had still kept a few emails and, of course, the exact amounts and dates on my spreadsheet. A few hours after the chat, I had access to my account and was able to restart Google Authenticator with a new key. Phew!

Since that day (a year ago), I have complete confidence in Lbank because they solved a big problem with my account (entirely my fault) and solved the problem in just a few hours, despite the absence of KYC! This is a change from Kraken and others, who sometimes block accounts for weeks or months, despite the KYC being done!!!

I think people mainly write on the web when they are dissatisfied and generally forget to write when they are satisfied with a platform.

I often have a 5-figure balance on Lbank for weeks, with no trading or withdrawal issues. I see on the ETH blockchain that some people are handling sums in excess of $250,000 on Lbank...

I have made dozens of withdrawals to my cold wallets, but also to other entities, and Lbank never asks for anything (“Is this your personal wallet?”, “Reason for withdrawal?”, “Where is the withdrawal going?”). None of that! I withdraw cryptos when I want, where I want, and for the amount I want. Total freedom, speed, peace of mind, zero stress! A very clear interface (web-based for me, but also available as a mobile app) allows you to choose the crypto to withdraw, the mode (on-chain or to another Lbank user, which can be another account of mine), enter the destination address, and choose the network (many networks supported). The fees are clearly indicated and there are no nasty surprises. The fees are quite high for withdrawing BTC: 0.001 BTC (i.e., $6-12 depending on the BTC rate), but for most other cryptocurrencies (USDT, USDC, etc.) it's a fixed $1 or even less. Personally, I prefer to pay a little more for transfers (which are quite rare) than for trades! And privacy is well worth these few fees.

The same goes for crypto deposits (no questions asked) and no fees charged. An email notifies us as soon as the crypto is on its way on the blockchain, even before it arrives. The entire history is available for consultation.

I only do basic SPOT trading on Lbank, but the platform offers many ways to invest in crypto: futures (leverage), copy trading, events, Earn, etc.

For SPOT trading, the interface is professional and comprehensive but easy to use: everything is clear, explained, and in English (many languages supported). I find the Lbank site much easier to use that Binance. The online help is well translated into French! For example, to explain the different types of orders (limit, market, etc.), a small “?” button opens a very clear pop-up window with graphics, text, a page for each type of order, ‘buy’ and “sell” explained separately, etc. Very well done!

You can buy/sell immediately or place orders: the page is the same and all the options are right there in front of you. Lbank offers “limit,” “market,” “trigger,” and even “OCO” orders (double order, e.g., sell if the asset reaches a price of $92,500 while selling if it falls below $85,000). All this comes with a base fee of 0.1%, but if you have more than $10,000 in your account, Lbank will upgrade you to VIP1 within a few days and the fees will drop to 0.08%! Other VIP levels exist, with even lower fees, but you need to have more money in your account.

Beyond the savings, these low fees allow me to buy and sell even if the BTC has only moved a little, without the fees canceling out my gains or causing a loss.

It is possible to buy/sell crypto from a FIAT currency (Euros, $, etc.), but obviously, I don't recommend it because KYC will be required! It's better to go through P2P or something else...

Warning for Swiss users: Lbank refuses customers who connect from this country. Use a VPN connected to France, Spain, Portugal, or elsewhere...

As you can see, I am a real fan of Lbank! Of course, this is just my opinion as a user. I would like to reiterate that I trade as an amateur, mainly BTC, a little ETH and (rarely) a few altcoins...

Link (not sponsored) to the website: https://www.lbank.com/fr

Your post is misguided.
No CEXs without kyc can run in EURO with EU regulations in place.

[joniboini]

Warning for Swiss users: Lbank refuses customers who connect from this country. Use a VPN connected to France, Spain, Portugal, or elsewhere...

This doesn't sound like a good idea. Other than the issues mentioned above, using a VPN to bypass an explicit blocklist would just give you trouble. What if they detect your abuse and decide to lock you out? I remember reading similar issues on various exchanges in the past. I don't think they'll be different.

Kinda surprising hearing people recommending Lbank. I remember using them a few times in the past. Not so different from others, granted, they probably changed to keep up with the latest trend. Speaking of questions regarding withdrawal/transfer, do other exchanges in your country ask that? What's the chance Lbank just hasn't implemented them? Most exchanges in my country, for example, started doing the same thing a few months ago. Only overseas exchanges that have no intention to open a local office use their own rules to handle user activity.

[rony_btc]

Your post is misguided.
No CEXs without kyc can run in EURO with EU regulations in place.

I think you didn't read my post carefully (?). I did NOT say that paying in euro could be done without KYC, but only crypto-to-crypto trades.

[rony_btc]

It's not an actual KYC free platform, because like a typical custodial CEX, they can freeze accounts and request for further personal information—proof of source of funds, address, recording, etc. Compare them with actual true KYC-free exchanges which will never ask for KYC under any circumstances.

Looking into their support write-ups, I think your case was part of the exception, thus the KYC was not mandatory for you as oppose to others. Though it's odd that there is "you need to do KYC to start trading" in your acc.
(...)

And yet, I connect from France or Spain (regulated countries) and Lbank does not prohibit me from trading without KYC. Nevertheless, I agree with you: it's a delicate situation for the future...

In the two and a half years that I've been involved in crypto, I've never found a DEX that I thought was simple and reliable. Even though I'm a computer scientist, I'm over 60, so that doesn't help.

I recently managed to buy crypto without KYC with Peer.xyz, which I think is fantastic! (in my case, via the Revolut app).

But for trading, I have nothing else but Lbank.

What KYC-free solution would you suggest instead of Lbank?

Thank you!

[Potato Chips]

And yet, I connect from France or Spain (regulated countries) and Lbank does not prohibit me from trading without KYC. Nevertheless, I agree with you: it's a delicate situation for the future...

In the two and a half years that I've been involved in crypto, I've never found a DEX that I thought was simple and reliable. Even though I'm a computer scientist, I'm over 60, so that doesn't help.

I recently managed to buy crypto without KYC with Peer.xyz, which I think is fantastic! (in my case, via the Revolut app).

But for trading, I have nothing else but Lbank.

What KYC-free solution would you suggest instead of Lbank?

Thank you!

I mean, connecting from regulated countries doesn't equate kyc-free either. But I get your dilemma, centralized exchanges remains the easiest way to onboard people to crypto, and DEXes does have a learning curve, so something that sits in the middle may hit the spot, though most I've seen are p2p or instant exchanges.

If you want an exchange with a trading terminal, maybe look into hyperliquid.

[Rikafip]

And yet, I connect from France or Spain (regulated countries) and Lbank does not prohibit me from trading without KYC. Nevertheless, I agree with you: it's a delicate situation for the future...

Being a KYC free exchange and not having mandatory KYC are two very different things, and you should edit the title of your topic as it's misleading.

Just be aware that just because you are able to use LBank without KYC up until now, it doesn't mean that at some point they won't ask you to go through it.

[rony_btc]

I mean, connecting from regulated countries doesn't equate kyc-free either. But I get your dilemma, centralized exchanges remains the easiest way to onboard people to crypto, and DEXes does have a learning curve, so something that sits in the middle may hit the spot, though most I've seen are p2p or instant exchanges.

If you want an exchange with a trading terminal, maybe look into hyperliquid.

Thanks for your reply. That's right: DeFi seems much more complex to me.

I'll take a look at Hyperliquid, which I've often heard about...

[rony_btc]

I signed up for Hyperliquid trading yesterday and used it a little: it seems absolutely great!!! Spot trading doesn't offer hundreds of pairs, but there's more than enough for me. And the interface is classic for “pro” trading, which I'm already used to.

It's so nice to see well-designed systems that aren't too complex to use, are reliable, and protect our privacy!

However, Lbank is still so convenient (multi-blockchain, management of numerous cryptocurrencies, etc.): to deposit USDC Arbitrum on Hyperliquid, I used Lbank: USDT => USDC then sent directly from Lbank to my Hyperliquid wallet via the Arbitrum One network. Easy!

So if my trades on Hyperliquid go well in the future, I'll use Hyperliquid for all my trades, but I'll keep Lbank for “utility” purposes, as long as regulations don't force them to ask me for KYC... I'll just avoid leaving assets there and transferring large amounts.

Thanks again for telling me about Hyperliquid because I think it's going to become an important partner for me!!!

[rat03gopoh]

It's so nice to see well-designed systems that aren't too complex to use, are reliable, and protect our privacy!

All CEXs have this kind of convenience because they do not require direct network activity. However, they are not tasked with protecting your privacy at some point, especially if your balance has reached the minimum they have to monitor closely, so don't always feel comfortable. Just read their privacy policy before you are completely sure that your privacy is safe.

[JeromeTash]

One day you will be a victim of LBank. In fact, if I were you, I wouldn't have bothered writing this long post trying to heap Lbank some praises, yet they have a very poor reputation and selectively scam users. I would rather do KYC than deal with a service that could get away with my money at any time with impunity.

Look at their Trustpilot. 


We have their latest victim reporting in the forum - LBank — 7 days, $2,200 unrecovered, ignored formal 48hr deadline — HyperEVM HYPE

[rony_btc]

Les plateformes comme Binance, Kraken (..) ont des avis Trustpilot mauvais aussi! En crypto plus qu'ailleurs, il y a des utilisateurs qui font des choses "étranges" et après, ils se plaignent d'avoir des problèmes.

For my part, I’ll say it again: I’m very happy with Lbank. Everything has gone smoothly, and they even came to my rescue when I lost my Google Authenticator code. I’m puzzled because the contrast between my experience with Lbank (which has been excellent) and the negative impression people are trying to make me believe leads me to think that Lbank may be the victim of lobbyists seeking to undermine freedom in the crypto space.

I’ve noticed that governance through fear has, sadly, become quite the trend in recent years.

I’ve stopped using Lbank and switched to Hyperliquid, though; this is more to avoid any potential future issues with KYC regulations than because I lack confidence in Lbank.

[rony_btc]

(...) In fact, if I were you, I wouldn't have bothered writing this long post trying to heap Lbank some praises (...)

I did this because it saddens me to see that unhappy people write a lot, whilst happy people don’t often think to post their reviews.

Because of this, we might end up thinking that every single company in the world is terrible! And even products in general.

So, for my part, if I’m satisfied with a product or a company, I try to say so, even if ‘the others’ are supposedly dissatisfied.

And I’m not someone who writes lightly.

[Zwei]

For my part, I’ll say it again: I’m very happy with Lbank. Everything has gone smoothly, and they even came to my rescue when I lost my Google Authenticator code. I’m puzzled because the contrast between my experience with Lbank (which has been excellent) and the negative impression people are trying to make me believe leads me to think that Lbank may be the victim of lobbyists seeking to undermine freedom in the crypto space.

lobbyists in bitcointalk, lol, funniest shit i seen today.

no one here is trying to make Lbank look bad, they are alone doing a good enough job at that with all the victims they scammed, same as most other CEXs to be fair, it's not just Lbank.
and i'm not dismissing your smooth experience with them, but they are selective scammers. ofc the majority of their users (including you) have a "smooth" experience, that's how selective scamming works, they don't scam everyone.

I’ve stopped using Lbank and switched to Hyperliquid, though; this is more to avoid any potential future issues with KYC regulations than because I lack confidence in Lbank.

you did yourself a big favor.

[JeromeTash]

For my part, I’ll say it again: I’m very happy with Lbank. Everything has gone smoothly, and they even came to my rescue when I lost my Google Authenticator code. I’m puzzled because the contrast between my experience with Lbank (which has been excellent) and the negative impression people are trying to make me believe leads me to think that Lbank may be the victim of lobbyists seeking to undermine freedom in the crypto space.

Lobbylists? You ,mean someone just wakes up and complains about how a service blocked their funds out of nowhere? Come on, you can be better than this.

I did this because it saddens me to see that unhappy people write a lot, whilst happy people don’t often think to post their reviews.

Because of this, we might end up thinking that every single company in the world is terrible! And even products in general.

So, for my part, if I’m satisfied with a product or a company, I try to say so, even if ‘the others’ are supposedly dissatisfied.

And I’m not someone who writes lightly.

It's the bare minimum the service is supposed to offer, a smooth experience for a customer who pays them fees in different forms. People complain because they get scammed and inconvenienced. The complaints are there to warn other people about what might happen to them too.

[rony_btc]

Lobbylists? You ,mean someone just wakes up and complains about how a service blocked their funds out of nowhere? Come on, you can be better than this.

Of course there are people who make things up.

Besides, if you accept that there might be false positives on TripAdvisor, you have to accept that there might also be false negatives.

And then there are people who behave strangely or inappropriately and then complain when their account gets suspended.

And there are plenty of suspended accounts on Kraken and other platforms.

[Darker45]

I hope you're just an honest Lbank user who's truly satisfied with what you've actually experienced and not a shill of this shady exchange.

It's interesting how you seem overzealous, though. You claimed the exchange is KYC-free even if it's not, opened threads with long posts glorifying Lbank, defended it against scam accusation, even going as far as necroposting to lavishly praise it. And all for just over a month of being here.

[Rikafip]

I hope you're just an honest Lbank user who's truly satisfied with what you've actually experienced and not a shill of this shady exchange.

It's interesting how you seem overzealous, though. You claimed the exchange is KYC-free even if it's not, opened threads with long posts glorifying Lbank, defended it against scam accusation, even going as far as necroposting to lavishly praise it. And all for just over a month of being here.

If it walks like a duck, swims like a duck, and quacks like a duck, then it probably is a duck.