Comparison of Bybit vs Lbank [ 2024 ]

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

Your expert: Alejandro Borja

Bybit

Investing risks losing your money

Your expert: Xavier Tarrasó

Lbank

Investing risks losing your money

Main points

Fees

≤0,10%

Earns

Yes

Customer service

4/5

0,10%

Fees

Yes

Earns

3/5

Customer service

Recommended for

Beginners

Trading

Yes

Passive income

Yes

Buy and hold

Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold

Comparison of fees

Rating

4.1 – Low fees with a focus on derivatives trading.

4.0 – Competitive fees with additional benefits for token holders.

Level

≤0,10%

0,10%

Brief explanation

Bybit’s commission structure is designed to be competitive and appealing to both high-volume traders and occasional participants. The platform primarily charges two types of fees: maker fees and taker fees. The maker fee can reward users for adding liquidity to the market, typically set below the industry average, while the taker fee is slightly higher due to the nature of removing liquidity. For trading derivatives such as perpetual contracts, Bybit charges a taker fee of 0.075% and provides a maker rebate of 0.025%, which means makers actually earn a credit for executing trades. This fee structure is particularly attractive to those who trade frequently or utilize trading bots to maintain liquidity on the exchange. Overall, Bybit’s fee strategy supports a dynamic trading environment, encouraging both the provision and taking of liquidity while keeping costs transparent and manageable for traders of all levels.

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 However, LBank does impose withdrawal fees, which vary depending on the specific cryptocurrency being withdrawn

Bybit

Security Methods: Bybit employs robust security practices, including cold storage for digital assets, real-time risk audits, and two-factor authentication (2FA) to protect user accounts and funds. This comprehensive approach ensures a secure trading environment.
Reputation and Reviews: Since its inception, Bybit has maintained a strong reputation within the crypto community for its reliability, advanced trading features, and user-friendly interface. Positive reviews across various forums and its low incident of security breaches contribute to its credibility.
Trading Volume and Liquidity: Bybit is known for its deep liquidity and high trading volume, facilitating seamless execution of trades without significant slippage, even during volatile market conditions. This is crucial for traders looking to execute large orders.
Transparency: Bybit provides clear and detailed information on trading fees, funding rates, and insurance funds. It regularly publishes updates about system upgrades and security enhancements, demonstrating transparency in operations and communications with its users.
Customer Service: Bybit offers 24/7 customer support with a multilingual team accessible via live chat, email, and social media. This constant availability ensures that user queries and issues are resolved promptly, enhancing user trust and satisfaction.

Read bybit review

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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Product selection

Native token

Token LBK

Earns

Yes

NFT marketplace

Yes

Cripto/debit card

Yes

Full name

Bybit Fintech Limited

Superchains Network Technology Co., Ltd.

Regulation

Not regulated

Year founded

2018

2016

Founder

Ben Zhou

He Wei

Payment methods

Transfers

Mastercard

Yes

Wire transfer

Card

Yes

Comparative table

Bybit	FEATURES	Lbank
Bybit allows for a relatively low minimum trade size, making it accessible for traders starting with smaller amounts.	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.
Bybit is known for its competitive fee structure, which is lower than many other exchanges, benefiting 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 diverse range of over 100 cryptocurrencies, providing good options for traders looking to diversify their portfolios.	Number of Cryptocurrencies	LBank supports over 500 cryptocurrencies, providing a vast array of options for traders looking to diversify their portfolios.
Provides a wide array of trading pairs, allowing users to trade various combinations of cryptocurrencies efficiently.	Crypto-to-Crypto Trading Pairs	The exchange offers a wide range of crypto-to-crypto trading pairs, enhancing trading flexibility and opportunities for users.
The website provides clear and detailed information about trading conditions, fees, and security measures.	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.
Bybit does not offer a branded exchange card for in-store purchases or benefits, limiting its functionality in terms of everyday financial transactions.	Credit/Debit Card	LBank does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Offers secure storage solutions with a majority of funds kept in cold storage, though it lacks some advanced features found in specialized wallets.	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 but is not as competitive as other platforms that provide higher yields and more variety in staking options.	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 the mobile app and desktop platform are highly rated for user interface design and functionality, catering well to both beginner and advanced traders.	Mobile App and Desktop	LBank provides a user-friendly mobile app and desktop platform, both of which offer comprehensive trading tools and features.
Provides 24/7 customer support with multiple channels, though response times can vary depending on the channel and query complexity.	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.
Offers efficient deposit and withdrawal processes, though limited by the lack of direct fiat currency transaction support.	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

Advanced charting, technical analysis tools, and derivatives trading features

Basic charting tools

Mobile APP

Yes

Security

High 4,9/5

Additional features

Futures trading, perpetual contracts, staking, Bybit Earn program

Margin trading, futures trading, staking, LBank Earn

Anonymity

Yes

Key points

Available cryptocurrencies

Primarily derivatives, but around 100 cryptocurrencies

100+

User-friendliness

Bybit offers a user-friendly platform that is easy to navigate, with a focus on derivatives trading. The interface is designed to be accessible to both beginners and experienced traders.

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

Offers good value for money with low trading fees and advanced trading features, suitable for both retail and institutional traders.

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

Singapore, Japan, South Korea, United States, Canada

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

Best for

Great for both retail and institutional traders interested in derivatives trading with low fees and advanced features.

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

Base currencies available

USD, USDT, BTC

USD, BTC, USDT

Account

Trading

Bybit is known for its derivatives trading and leverage options. It offers advanced trading tools and high liquidity but is not suitable for beginners due to its complexity and risk.

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

Bybit supports cryptocurrency deposits and withdrawals, with no support for fiat currencies. Withdrawals are processed efficiently, usually within a few hours, with low fees.

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

Account opening process

Bybit offers a seamless and fully digital account opening process. Users need to fill out personal information and verify their identity. The process is quick, typically taking less than a day to complete.

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

Bybit provides extensive customer support through email, live chat, and a help center. Support is available 24/7, and the response times are quick, ensuring users get timely assistance.

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

Bybit provides robust security features with 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some users.

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 one of the experts here at Threenvest, I’d like to share a brief recommendation about using Bybit. Bybit offers a robust platform that caters well to experienced traders looking for advanced trading options in the crypto derivatives market. Its high-performance trading engine ensures rapid execution of trades, which is crucial during volatile market conditions. If you’re comfortable with high leverage and complex trading instruments, Bybit can be a powerful tool in your trading arsenal. However, beginners should tread carefully, given the platform’s complexity and the inherent risks of leveraged trading.

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.