Here is the review of an exchange that proves the crypto business keeps spreading out. For the last time: Yes, you really can trust LakeBTC. Digital world fans know all too well that BTC and ETH may not have worked out at once, but any time soon. We also realize that it hasn’t stopped new currencies and exchanges from being open and proving what blockchain is all about.
Earlier five years ago, Lake Investments Limited (BVI) revealed the newest exchange potential. “Introducing ‘Gateway Member of International Ripple Business Association’, everybody! And yes it is one out of four platforms, determining CoinDesk Bitcoin Price Index. And as it turns out, people know little about it yet. So with that, we decided to surprise you with a special survey with a view on its pros and cons.
Advantages & Disadvantages
Ultimately, this isn’t the first time exchange owners have melted our hearts with their promising words, options, and plans. We are trying to keep up. If you think over BTC or ETH purchase for fiat currencies through LakeBTC, let us get the advantages and disadvantages straight for you.
LakeBTC Exchange Features
To prepare for the action, we’d like to give you a preview of the website. The interface is user-friendly, at once “New Token Listing”, “Token Sale” and “OTC Order Book”, “Bit Orders”, “Ask Orders” tabs on the right side of the site page are seen. Order types make a list: limit orders, darkpool, etc.
Available Markets and Currency Pairs
To make the use of LakeBTC services even more exciting, the exchange also add few more fiats than others to their list, here are just a couple of pairs: BTC/USD, -/SEK, -/EUR, -/HKD, -/JPY, -/GBP, -/AUD, -/CAD, -/SGD, -/KRW.
Sometimes in our life, we make mistakes. Don’t make another one and come down to the selection of a currency for depositing with the utmost seriousness as all withdrawals would be made with the money too. No way to change that after. That is true beside trading.
Depositing and Withdrawal Process
We really don’t have anything to say to you except that you should click Wallet then Deposit tabs in your menu. After having chosen USD currency, then an option for making a transaction. Double check won’t be out of use when submitting the operation. Now it is over. We agree that you are pretty much right thinking the cashout wouldn’t be the same fast.
Here is the preview of payments – PayPal, Neteller, Skrill, Bank Transfers, OK Pay, Payza, Perfect Money, Leupay, LakePay, CHATS, MoneyGram, Western Union – so, anything is possible but limited to the services’ abilities.
PayPal tells us this won’t be getting done soon in a case you select it, especially when funds are available for withdrawal or payment in 60 days due to their policy. Naturally, such details are being kept under wraps.
Payment Limits and Fees
The exchanges are quiet when it comes to their limits, but we are here to inform you about trading-taker 2%, trading-maker between 0% and up to 0.15% fees, free BTC depositing and cashing out operations. No restrictions on volumes, altogether it has a user-friendly environment.
So, you must be ready to register an account. Which type do you prefer? They offer Unverified, Individual and Corporate profiles varying in options. Trading and BTC depositing or withdrawing are available for all registered accounts. The only difference is in or out transactions with fiat through bank wire, which isn’t possible through the Unverified profile.
Clients Support & Security
Every member new or constant knows how security measures are important. Here the 3-step Google Authentication answers partly for safety. The process of verification doesn’t stop here, you should supply the exchange with a full name, your home address, email, UID, ID type of passport or maybe national ID and driver license possible in addition to your pictures.
LakeBTC follows AML (Anti-Money Laundering) and KYC (Know Your Customer) Policies. The support is available on Facebook, Reddit, Twitter, email – help@LateBTC.com and thru Bitcointalk.org.
Exchange Referral Program
Cool fact: there is a 3-Tier Referral Program and bonuses accordingly:
- Tier-1 – 30% bonus for users asked to LakeBTC by you directly
- Tier-2 – 10% bonus for members asked to LakeBTC by Tier-1 referrals
- Tier-3 – 5% bonus for clients asked to LakeBTC by Tier-2 referrals
Now as you have another piece of information about the 5-year experienced exchange, you can step things up with the registry to avail of the crypto services. According to our review and a great many others, you will have significant dividends stopping your choice on LakeBTC.