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How to Open an LBank Account and Make Your First Trade

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LBank is a leading cryptocurrency exchange founded in 2016 and the platform features technical analysis indicators, market depth, and volume windows. The tools featured include MACD- Moving average convergence divergence, CCI- Commodity Channel Index, KDJ, also known as Random index, and RSI- Relative strength index. The platform supports over 140 cryptocurrencies and uses the latest security features to keep user accounts safe. 

LBank has an easy-to-navigate interface suitable for crypto experts and newbies. To maximize this crypto exchange, here is a guide to opening an account on the platform as a new and placing your first trade. 

LBank New User Guide: How to Open an LBank Account

Step one

Go-to your App Store and download the Lbank Mobile App; install, and then launch the app on your device. Select the ‘Register’ instruction. You can also go-to the website and sign-up. This guide uses the mobile app but the experience is similar across platforms. 

Step two 

Select your preferred registration mode; Phone or Email. If Email, enter a valid email address and click on ‘Next.’

Step three

Confirm you’re not a robot. If you encounter an issue with the verification, click on ‘Having a problem? Try another way’ you will be redirected to a different Man-machine verification method.

Step four

Set your password and confirm the password. A verification code will be sent to the Email earlier submitted, copy the code and paste it into the space provided. 

If you have read and agreed to the platform’s terms and conditions, then tick the box to accept. 

Click on ‘Register’

Note: Do not share the code sent to your Email or your password. Fraudsters could use it to gain unauthorized access to your account. 

Step five

Upgrade the account privacy by setting up extra security. 

Read Also

How to Open a Binance Account and Make Your First Trade

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How to Make Your First Trade on LBank Crypto Exchange

There are different crypto trading markets and strategies. These markets require a basic understanding of crypto trading and some mastery. To trade cryptocurrencies in the Spot market using your Mobile App on the LBank platform:

First: fund your LBank wallet, then select the ‘Trade’ icon on the app home page interface. 

Second: choose your preferred trade option; for this article, we focus on the spot market. Select your trade action (to buy or sell) and the crypto pair to trade. 

Next: fill the space provided according to your trade specification. Select either, Limit, Market, or Stop Limit. 

To understand what each order entails, click on the question icon ‘?’

Example:

Finally: if your trade specification is Market (meaning you want to buy at the market price and not set your own price), input the USDT amount to trade for BTC. Then select ‘Buy BTC.’ 

Closing thoughts 

Crypto trading can be rewarding but can lead to financial ruin if a trader doesn’t understand how the market operates. It’s recommended to undergo crypto trading lessons as a beginner and do your research before funding or trading cryptocurrencies. 

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