Comparison of Lbank vs Swyftx [ 2024 ]

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

Your expert: Alejandro Borja

lbank

Lbank

  • Threenvest valuation: 4,3/5
  • US legal: No
  • Security: High 4,9/5
  • Mobile App: Yes
Go exchange

Investing risks losing your money

Your expert: Xavier Tarrasó

Swyftx

Swyftx

  • Threenvest valuation: 4/5
  • US legal: No
  • Security: High 4,6/5
  • Mobile App: No
Go exchange

Investing risks losing your money

Main points

Fees

0,10%

Earns

Yes

Customer service

3/5
≈ 0,06%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

No

Trading

Yes

Passive income

Yes

Buy and hold

Yes
Yes

Beginners

Yes

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.
4.0 – Competitive fees with strong local support in Australia and New Zealand.

Level

0,10%
≈ 0,06%

Brief explanation

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 However, LBank does impose withdrawal fees, which vary depending on the specific cryptocurrency being withdrawn
Swyftx charges a competitive trading commission which is built into the spreads, typically around 0.6%, making it quite transparent and straightforward. The platform does not charge any deposit or withdrawal fees for AUD transactions, which is a notable advantage for local users. Additionally, Swyftx keeps its fee structure uncomplicated with no hidden charges, allowing traders to easily understand what they will pay when executing trades on the platform.

Lbank

lbank
Read lbank review
  • 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​​.
  • Pros
  • Wide variety of cryptocurrencies available.
  • Low trading fees.
  • User-friendly interface for experienced traders.
  • Cons
  • Slow customer support response times.
  • Limited educational resources for beginners.

Read lbank review

Swyftx

Swyftx
Read lbank review
  • Year Founded: Since its establishment in 2018, Swyftx has quickly grown to become a key player in the Australian cryptocurrency market. This rapid growth and sustained presence highlight its stability and enduring appeal to users.
  • Number of Users: Swyftx boasts a large user base, which is a testament to its popularity and trustworthiness. A significant number of users also suggests a high level of satisfaction and reliability.
  • Security Methods: Swyftx employs robust security measures including two-factor authentication (2FA), biometric logins, and custom withdrawal whitelist settings. These features ensure that users' funds and data are protected against unauthorized access.
  • Trading Volume and Liquidity: The exchange has a high trading volume and liquidity which ensures that users can buy and sell their assets easily without a significant impact on the prices, which is crucial for both new and experienced traders.
  • Reputation and Reviews: Swyftx has garnered positive reviews for its user-friendly interface, responsive customer service, and transparent fee structure. Its reputation within the Australian market is strong, with many users recommending it for both beginners and experienced traders.
  • Pros
  • User-friendly interface
  • Extensive cryptocurrency support
  • Competitive trading fees
  • Cons
  • Limited international availability
  • Higher market spread

Comparison sponsored by the best exchange

eToro

eToro Special Offer*

Earn up to 4.90% APY on uninvested cash with eToro USA.

Account Minimum

Get started with just $50.

And 1% fee on all cryptocurrency trades.

Read our eToro review here
etoro logotipo
Go to eToro

Don’t invest unless you’re prepared to lose all the money you invest. This is a high-risk investment and you should not expect to be protected if something goes wrong.

Product selection

Native token

Token LBK
No

Earns

Yes
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Superchains Network Technology Co., Ltd.
Swyftx Pty Ltd.

Regulation

Not regulated
Regulated in Australia

Year founded

2016
2017

Founder

He Wei
Alex Harper

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Lbank FEATURES Swyftx
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.
Minimum Trade
Swyftx allows for relatively low minimum trades, making it accessible for beginners who wish to start small.
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.
Trading and Transaction Fees
The platform has competitive fees, lower than many of its local competitors, though slightly higher than global exchanges.
LBank supports over 500 cryptocurrencies, providing a vast array of options for traders looking to diversify their portfolios.
Number of Cryptocurrencies
Swyftx offers a wide selection of cryptocurrencies, catering to traders interested in both popular and less-known coins.
The exchange offers a wide range of crypto-to-crypto trading pairs, enhancing trading flexibility and opportunities for users.
Crypto-to-Crypto Trading Pairs
Offers a robust range of trading pairs, enabling flexible trading strategies across various digital assets.
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.
Website Transparency
The Swyftx website provides clear, detailed information on fees, policies, and trading options, aiding users in making informed decisions.
LBank does not offer its own exchange card for customers to use for in-store purchases and receive benefits.
Credit/Debit Card
The Swyftx crypto debit card seamlessly converts cryptocurrencies to fiat for easy everyday transactions, with added benefits such as reward points on purchases.
LBank uses a combination of hot and cold wallet storage, with most funds held in cold storage to ensure security against hacks.
Storage Offering
Provides secure storage options, though it’s always recommended users keep large amounts in personal wallets for added security.
LBank offers some staking options, but they are not as extensive or competitive as those available on some other major exchanges.
Staking and Rewards
Offers staking options but with fewer choices and rewards compared to leading competitors.
LBank provides a user-friendly mobile app and desktop platform, both of which offer comprehensive trading tools and features.
Mobile App and Desktop
Both mobile and desktop platforms are highly rated for their user-friendly interfaces and functionality.
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.
Customer Service
Generally responsive and helpful customer service, but peak times can see slower responses.
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.
Deposit and Withdraw
Deposits and withdrawals are generally efficient, though some users report delays during high-demand periods.

Key features

Analysis tools

Basic charting tools
Advanced charting tools, technical analysis

Mobile APP

No
No

Security

High 4,9/5
High 4,6/5

Additional features

Margin trading, futures trading, staking, LBank Earn
Staking, fiat on/off ramps, Swyftx Earn, demo mode

Anonymity

Yes
No

Key points

Available cryptocurrencies

100+
300+

User-friendliness

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.
Swyftx 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 competitive fees and a wide range of supported cryptocurrencies, making it an affordable option for traders.
Delivers good value for money with competitive fees and strong local support in Australia, making it a good choice for regional users.

Countries of operation

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

Best for

Suitable for traders seeking a platform with a wide range of cryptocurrencies and competitive fees.
Best for Australian and New Zealand investors looking for a user-friendly platform with competitive fees and strong local support.

Base currencies available

USD, BTC, USDT
AUD, BTC

Account

Trading

LBank offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has lower liquidity compared to larger exchanges.
Swyftx is a popular exchange in Australia, offering a user-friendly platform and easy fiat integration. It supports a wide range of cryptocurrencies and competitive fees but lacks some advanced trading features.

Deposit and withdrawal

LBank supports various deposit and withdrawal methods, including bank transfers and crypto. Withdrawals are processed efficiently, with low fees.
Swyftx is popular in Australia, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

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.
Swyftx provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually completed within a day.

KYC required?

No
Yes

Customer Service

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.
Swyftx provides support through email and live chat. The support team is responsive and available 24/7, making it reliable for users in Australia and beyond.

Security

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.
Swyftx ensures security through 2FA, encryption, and cold storage. It is regulated by Australian authorities, providing a secure environment for investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

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.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As a cryptocurrency investment analyst, I find Swyftx to be an excellent choice for those new to the crypto market or looking for a user-friendly trading experience. The platform offers a wide range of cryptocurrencies and has a straightforward, easy-to-navigate interface that simplifies trading. While it could improve its offerings for more seasoned traders by adding advanced trading tools, for most users, Swyftx provides a reliable and secure environment to start their cryptocurrency investment journey. If you’re based in Australia, I highly recommend considering Swyftx as your go-to exchange.

View all comparisons against Lbank

View all comparisons against Swyftx

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.

More comparatives Lbank and Swyftx