Comparison of Bitflyer vs Lbank [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Bitflyer vs Lbank comparison!

Your expert: Alejandro Borja

Bitflyer

Your expert: Xavier Tarrasó

Lbank

Main points

Fees

0,10%

Earns

Yes

Customer service

4/5

0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.0 – Competitive fees with some discounts for high-volume trading.

4.0 – Competitive fees with additional benefits for token holders.

Level

0,10%

Brief explanation

BitFlyer structures its commission fees with an aim to be transparent and competitive, though they are often perceived as slightly higher than some of its global competitors. The exchange charges a flat fee for transactions, which can vary slightly depending on the market conditions and the specific services used. For instance, trading Bitcoin typically incurs a fee of about 0.1% to 0.15%, but this can differ for other cryptocurrencies or more complex transactions such as futures or options trading. Importantly, these fees contribute to the high level of security and regulatory compliance that BitFlyer offers, making it a trusted platform despite the slightly higher costs.

LBank offers a straightforward and competitive fee structure. The platform charges a flat trading fee of 0.10% for both makers and takers, which is lower than the industry average. There are no deposit fees on LBank, which makes it an attractive option for users looking to minimize costs when transferring funds into the platform. However, LBank does impose withdrawal fees, which vary depending on the specific cryptocurrency being withdrawn

Bitflyer

Year Founded: BitFlyer has been operational since 2014, giving it a long-standing presence in the cryptocurrency world. This longevity in the rapidly evolving digital currency landscape speaks to its stability and enduring commitment to its users.
Security Methods: BitFlyer employs rigorous security measures, including compliance with multiple regulatory standards across jurisdictions. It uses advanced encryption and follows strict internal security protocols to safeguard user data and funds.
Possible Regulation: The exchange is one of the few that has successfully navigated the strict regulatory environments of Japan, the United States, and Europe. It holds significant licenses, including the prestigious New York BitLicense, enhancing its credibility and trustworthiness.
Reputation and Reviews: BitFlyer's reputation in the crypto community is strong, bolstered by positive reviews from users who praise its user-friendly platform and security practices. Its regulatory compliance further reinforces its reputation as a trustworthy platform.
Trading Volume and Liquidity: With a substantial trading volume and high liquidity, BitFlyer offers users the advantage of better price stability and the ability to execute large transactions with minimal impact on the market price, making it a reliable platform for trading major cryptocurrencies.

Lbank

Security Methods: LBank employs robust security measures to protect user assets, including cold storage for the majority of funds, two-factor authentication (2FA), and SSL encryption. These methods ensure that both your funds and personal information remain secure from unauthorized access and potential breaches.
Volume Managed: LBank handles substantial trading volumes, which reflects its liquidity and ability to support large-scale transactions. High trading volume is a good indicator of the exchange's reliability and user trust, making it a competitive choice in the market.
Reputation and Reviews: LBank has built a solid reputation over the years, with generally positive feedback from its user base. While it has areas for improvement, such as customer support for English speakers, the overall sentiment from the community indicates a trustworthy and reliable platform.
Transparency: The exchange maintains transparency in its operations, including clear communication of fees and terms of service. Users can find detailed information about trading costs, security measures, and platform policies, contributing to a sense of trust and confidence.
Trading Volume and Liquidity: LBank's high trading volume and liquidity are significant advantages, ensuring that users can execute trades efficiently and at competitive prices. This liquidity also minimizes slippage and provides a more stable trading environment for both new and experienced traders.

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Account Minimum

Get started with just $100.

And 1% fee on all cryptocurrency trades.

Direct link to the website

Product selection

Native token

Token LBK

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

bitFlyer, Inc.

Superchains Network Technology Co., Ltd.

Regulation

Regulated in Japón

Not regulated

Year founded

2014

2016

Founder

Yuzo Kano

He Wei

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Bitflyer	FEATURES	Lbank
BitFlyer allows relatively low minimum trades, making it accessible for beginners.	Minimum Trade	The minimum trade amount on LBank is quite low, making it accessible for beginners who want to start trading without committing large amounts of money.
Fees are slightly higher than average, which may deter frequent traders.	Trading and Transaction Fees	LBank charges a competitive flat fee of 0.10% for both maker and taker trades, which is attractive compared to many other exchanges that have higher fees.
Offers a moderate selection of major cryptocurrencies, but lacks variety in altcoins.	Number of Cryptocurrencies	LBank supports over 500 cryptocurrencies, providing a vast array of options for traders looking to diversify their portfolios.
Supports a solid range of trading pairs, suitable for most traders’ needs.	Crypto-to-Crypto Trading Pairs	The exchange offers a wide range of crypto-to-crypto trading pairs, enhancing trading flexibility and opportunities for users.
High transparency regarding security practices and compliance, fostering user trust.	Website Transparency	While LBank provides detailed information on its fees and services, the site is primarily available in Mandarin, which can be a barrier for non-Mandarin speakers.
bitFlyer offers a prepaid card in Japan, which can be used for online and in-store purchases. This card allows users to spend their crypto directly, making it convenient for daily use.	Credit/Debit Card	LBank does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Provides secure cold storage options, ensuring safety for user funds.	Storage Offering	LBank uses a combination of hot and cold wallet storage, with most funds held in cold storage to ensure security against hacks.
Offers basic staking features and rewards but not as extensive or competitive as other exchanges.	Staking and Rewards	LBank offers some staking options, but they are not as extensive or competitive as those available on some other major exchanges.
Both mobile and desktop platforms are user-friendly, well-designed, and reliable.	Mobile App and Desktop	LBank provides a user-friendly mobile app and desktop platform, both of which offer comprehensive trading tools and features.
Generally responsive and helpful customer service, though some users may experience delays.	Customer Service	Customer service is available 24/7 via email and chat, but support quality varies significantly with slower and less effective responses for English-speaking users.
Efficient deposit and withdrawal processes, but could be improved with more payment methods.	Deposit and Withdraw	LBank offers a variety of deposit and withdrawal methods, primarily in cryptocurrencies, with competitive fees. However, the absence of fiat deposit options can be a limitation.

Key features

Analysis tools

Basic to intermediate charting tools

Basic charting tools

Mobile APP

Security

High 4,9/5

Additional features

Spot trading, margin trading, Bitflyer Lightning exchange, recurring buys

Margin trading, futures trading, staking, LBank Earn

Anonymity

Yes

Key points

Available cryptocurrencies

10+

100+

User-friendliness

Bitflyer features a simple and intuitive interface, ideal for beginners. The platform focuses on providing a seamless trading experience, making it easy for new users to buy and sell cryptocurrencies.

LBank features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.

Value for money

Provides reasonable value for money with low trading fees and a user-friendly platform, making it a good choice for beginners.

Offers good value for money with competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.

Countries of operation

Japan, United States, Europe

Global, including United States, Canada, United Kingdom, Australia, Germany

Best for

Great for beginners and experienced traders in Japan, the US, and Europe who want a user-friendly platform with competitive fees.

Suitable for traders seeking a platform with a wide range of cryptocurrencies and competitive fees.

Base currencies available

JPY, USD, EUR, BTC

USD, BTC, USDT

Account

Trading

Bitflyer provides a secure and easy-to-use platform with a decent selection of cryptocurrencies. It is particularly popular in Japan. However, it lacks some of the advanced trading features found on other major exchanges.

LBank offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has lower liquidity compared to larger exchanges.

Deposit and withdrawal

Bitflyer offers secure and efficient deposit and withdrawal methods, including bank transfers and crypto deposits. Withdrawals are processed within a day, and fees are competitive .

LBank supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.

Account opening process

Bitflyer’s account opening process is easy and efficient. Users need to provide personal information, verify their identity, and address. The process is fully digital and typically takes less than a day.

LBank provides a seamless account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually takes less than a day to complete.

KYC required?

Yes

Customer Service

Bitflyer offers customer support via email and live chat. The support team is responsive, and support is available 24/7, making it convenient for users needing immediate help.

LBank provides customer support via email and live chat. The support team is responsive and helpful, but the lack of 24/7 support may be a limitation for some users.

Security

Bitflyer ensures high security with 2FA, encryption, and cold storage. It is regulated by Japanese authorities, ensuring strong security for investors.

LBank offers comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

Alejandro Borja

As an expert on our website, I recommend BitFlyer for users new to cryptocurrency trading due to its user-friendly interface and robust security measures. While its trading fees are a bit higher and the variety of cryptocurrencies somewhat limited, BitFlyer’s strong regulatory compliance and excellent platform stability make it a reliable choice for those prioritizing security and ease of use. If you’re starting your crypto journey, BitFlyer is a commendable option to consider.

Xavier Tarrasó

As an expert on our website, I would like to provide a recommendation regarding LBank. LBank is an excellent choice for traders seeking a platform with a wide variety of cryptocurrencies and low trading fees. It supports over 500 cryptocurrencies, making it a versatile option for portfolio diversification. However, while the exchange excels in offering advanced trading tools and a user-friendly interface, it falls short in customer service and regulatory compliance. If you’re comfortable with these limitations, LBank can be a valuable tool in your cryptocurrency trading arsenal.

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How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).

For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.