LakeBTC -
- Company: Shanghai Trading Information Technologies, Inc.
Founded: March 2013 - Server Location: CN
- Turnover: 5000 - 10000 BTC/daily
- Mobile version: Responsive Design
- Current BTC price: -
- Currencies: CNY, USD
- Fee: From 0% - 0.5%
- Time: 0.5 day
- API: Yes
- Support: Live chat, Phone call, Tickets, Email
LakeBTC Review
LakeBTC is a bitcoin trading platform where you can buy and sell this cyber-currency in a fiat currency like USD, CNY (HKD & EUR are coming soon). The online exchange itself is owned by Shanghai Trading Information Technologies, Inc. with the headquarters based in Shanghai. The platform was introduced for public use on March 2013. Since then, the exchange grew regularly and now transfers 5000 – 10000 of Bitcoin daily.
Registered users are asked to confirm their personal details by providing their full name, address, copy of ID, copy of utility bill, photo of user holding an ID, telephone number. Two-factor authentication is available via Google Authenticator. When logged in to their profiles, users can see important information like trade history, market data, invoices, API and of course sell or buy Bitcoins. Deposits are available through Ripple, wire transfer and of course sending Bitcoin to LakeBTC’s wallet associated with your account. All withdrawals are approved manually and can be received via wire transfer and your Bitcoin wallet. It usually takes up to 30 minutes during business hours.
The exchange’s website has a responsive design hence smartphone or tablet users can easily browse within LakeBTC.com. It is a great way of letting the customers use this feature while the app is in the development.
Their customer supports is ready to answer all your questions regarding withdrawals, deposits, trading, password recovery, logging in and registration. You can reach them by SMS, instant-messaging (IM), telephone, social networks (Facebook, Twitter) and email.
Trading fee varies from 0.1% to 0.5% depending on the amount and account type for both selling and buying Bitcoin. To get lower trading fees you must have a 30-day trading or withdrawal volume exceeding: $50,000 – 0,4% trading fee; $100,000 – 0,3% trading fee; $200,000 – 0,2% trading fee; $500,000 – 0,1% trading fee.
The API is also available on their website.
We liked:
- Adding more flat currencies
- Provided office address
- Responsive design
- API available
We weren’t so sure about:
- Fees
- Website design
We hated:
- No other cyber-currency trading
- Rarely updated news feed