Bitunix vs. LBank Exchange: Which Platform Offers Better Features?

Article Summary

• This article provides a direct comparison between Bitunix and LBank, two popular exchanges known for their wide selection of altcoins.
• The comparison is broken down into four key rounds: Trading Fees, Futures Trading Platform, Security & Trust, and User Experience & Support.
• While LBank is known for listing a vast number of new and obscure tokens, it often suffers from higher fees and a less professional trading interface.
• Bitunix emerges as the superior platform due to its significantly lower trading fees, more advanced and reliable futures platform, and a stronger emphasis on security and user trust.
• For traders who want access to a wide range of assets without compromising on fees or security, Bitunix is the clear winner.

You’re hunting for the next 100x altcoin, and you need an exchange that lists it first. LBank and Bitunix are both contenders, known for their massive selection of tokens. But which platform provides the better, safer, and cheaper trading experience? The answer might surprise you.

LBank has over a decade of industry experience, attracting over 20 million users worldwide through its large selection of cryptocurrencies and trading pairs. However, the platform has come under scrutiny for outdated security standards and a lack of transparency.

Bitunix launched globally in 2022 and has quickly become a popular trading platform worldwide, amassing over 3 million users and reaching a daily trading volume of $5 million. While the exchange does not offer the biggest selection of cryptocurrencies, it makes up for it with high security, advanced trading options, deep liquidity, low fees, and excellent customer service.

This article will conduct a head-to-head comparison of Bitunix and LBank across the four categories that matter most to traders, helping you make an informed decision on where to trust your capital. In the end, you should have a clear understanding of which crypto exchange is best for you.

Round 1: Trading Fees - A Clear Winner

Trading fees are among the first criteria traders consider when choosing a new crypto exchange. All blockchain networks charge users to validate transactions. Therefore, trading fees are mandatory and often cut into a trader’s profits.

Your best choice is to find the trading platform that charges the smallest transaction fees without compromising security or transparency. Let’s see how LBank and Bitunix fare in this exchange comparison.

LBank uses a maker-taker fee model: Spot trading is typically 0.1% for both makers and takers. Meanwhile, the fees for futures trading are slightly cheaper, with base rates of 0.02% (maker) and 0.06% (taker). While deposits are free, LBank charges higher maker/taker fees than the industry average.

On the other hand, Bitunix offers users a clear fee advantage by charging among the most competitive rates in the industry. The platform’s maker and taker fees for both spot and futures trading are significantly lower than those of other exchanges.

Furthermore, Bitunix charges trading fees based on an 8-tier VIP system that factors in a user’s 30-day trading volume and balance. Users can climb up the VIP ladder and pay smaller transaction fees while enjoying other membership perks and benefits.

This exchange comparison table clearly shows that LBank’s trading fees only match the fees that Bitunix charges for VIP level 0 users. However, VIP level 1 and members and upwards pay considerably less than LBank traders.

Verdict:

For any active trader, fees constitute a significant drag on profitability. In this round, it’s not even close. Bitunix is the decisive winner in the first round of the Bitunix vs. LBank contest.

Round 2: Futures Trading Platform - Professional vs. Basic

Futures trading allows traders to speculate on future price movements of various cryptocurrencies by purchasing futures contracts. Buyers do not own the underlying asset. Instead, they own a contract to buy or sell a specific cryptocurrency at a particular future date.

In spot trading, the number of available cryptocurrencies and pairs determines a platform’s performance and appeal. However, in futures trading, users seek a wide range of order types and risk management tools. Here is where LBank falls short of many traders’ expectations.

LBank exchange provides only a limited selection of futures trading options, including Market, Limit, Trigger, and Post-Only orders. Its users miss out on advanced trade order types for futures contracts and essential risk management features.

On the other hand, Bitunix takes a professional approach to futures trading, offering numerous core futures order types, including Market, Limit, and Trigger (Stop) Orders. Additionally, it provides robust risk management tools, including Take Profit (TP)/Stop Loss (SL), Stop Limit, and Trailing Stops. This allows trade execution at current, specific, or conditional prices for automated perpetual futures trading and risk control. Bitunix also provides up to 200x leverage on selected trading pairs.

Besides having a more versatile offer of futures trading options, Bitunix ensures optimal speed for its trading engine. This way, users can access reliable, real-time prices to execute quick trades without risking losses from network lags and delays.

Verdict:

LBank’s offer of futures trading options feels more like an add-on feature. Meanwhile, Bitunix’s platform is built for serious derivatives traders, making it a clear winner of this round.

Round 3: Security & Trust - The Most Important Factor

LBank was launched in 2015 and has over a decade of experience, aiming for industry prominence. However, slow development, limited features, and growing concerns over its security and transparency have prevented the platform from reaching global dominance.

Hacken, a leading global cybersecurity company, analyzed LBank’s liquidity, marketing, and cybersecurity features. It concludes that “LBank is an unreliable exchange for crypto trading, due to apparently falsified liquidity and exploitable cybersecurity issues.”

Bitunix prioritizes security and regulatory compliance across all 100+ countries in which it operates. The platform has a top-tier security architecture, including a Proof-of-Reserves fund that exceeds a 1:1 ratio against user holdings. Moreover, Bitunix keeps the users’ funds in cold storage to ensure complete protection against online attacks.

Bitunix provides a Protection Fund with insurance that covers users’ committed funds in the event of incidents. The platform has a flawless security track record and provides users with multiple security features, including 2FA, anti-phishing codes, passkeys, and institutional-grade custody via Fireblocks.

Verdict:

When it comes to your money, trust is not negotiable. Bitunix’s demonstrable commitment to security and transparency gives it the edge. Bitunix wins yet another round.

Round 4: User Experience & Support

LBank exchange attracts millions of users worldwide with its large selection of available cryptocurrencies and trading pairs. However, the platform is not famous for an excellent user experience.

LBank users often complain about the platform’s slow and cluttered interface, which makes spot trading confusing and futures trading inefficient. Traders describe the user interface as unintuitive and cumbersome to navigate when compared to competitors like Bitunix.

Bitunix provides a positive user experience, featuring intuitive navigation, a dedicated mobile application, and tools suitable for both new and experienced traders. The layout has a clean, user-friendly design that lets users quickly find commands and tools. Users also praise its advanced tools, such as multi-chart views, which let you track 16 charts simultaneously in the same window.

When it comes to customer support, Bitunix outperforms LBank by a considerable distance. Bitunix provides highly responsive 24/7 customer support via live chat and email. The platform also offers an extensive library of educational resources, conveniently organized in a Help Center.

Meanwhile, LBank has earned a bad reputation in the industry for providing subpar customer support. The platform offers 24/7 assistance via chat and email, along with a self-help section with FAQs and other materials. However, users have complained about LBank’s slow response and lack of solutions for time-pressing issues.

Verdict:

A smooth and supportive trading experience is crucial. With its modern interface and dedicated support, Bitunix takes the final round of the Bitunix vs. LBank comparison.

Bitunix Wins the Exchange Comparison Competition

Bitunix wins the battle of exchanges with an emphatic 4-0 over LBank. While LBank’s strategy of listing thousands of tokens may appeal to pure speculators, it comes at the cost of higher fees, a basic trading platform, and less emphasis on top-tier security.

Bitunix offers the best of both worlds: a vast selection of promising digital assets combined with the low fees, professional tools, and robust security that serious traders demand.

The Final Verdict:

Bitunix is a better choice than LBank for both experienced traders and beginners.

Bitunix allows you to trade tokens on the dedicated Spot market or open a perpetual futures position to trade with 200x leverage and capitalize on market swings.

New users can deposit crypto or link a fiat method (KYC required only for fiat operations) and start trading with as little as $10. Alternatively, you can join the Earn program, which provides several earning features.

The low Bitunix fees have convinced over 3 million traders to join the platform. Moreover, Bitunix reassures users that their assets are safe with a dedicated Protection Fund, high security, and compliance with global regulations.

Bitunix is available for both desktop and mobile users. You can download the Bitunix mobile application for iOS or Android on the app download page.

Don’t compromise. Get the wide selection you want and the professional experience you deserve. Upgrade your trading and switch to Bitunix.

Sign up today!

FAQ Section

Is LBank a safe exchange?

While LBank employs standard security measures, it faces concerns about regulatory oversight, past audit issues, and numerous negative user reviews, including reports of frozen accounts and withdrawal issues.

Does LBank have lower fees than Bitunix?

No. The two exchanges have similar base spot trading fees. However, Bitunix offers lower trading fees for users who advance through its 8-tier VIP program.

Which exchange lists more new coins?

LBank lists significantly more new coins than Bitunix, both in the total number of assets and the frequency of new listings.

Can I trade futures on LBank?

Yes. However, trading futures on LBank provides fewer options than most other crypto trading platforms.

Is Bitunix a good exchange for beginners?

Bitunix is an excellent choice for beginners. The platform offers a user-friendly interface, dedicated educational resources, and responsive customer support.

Does LBank require KYC?

Yes, LBank requires Know Your Customer (KYC) verification for full access to services.

Why should I choose Bitunix over LBank?

Bitunix provides more flexible services than LBank, primarily through its no-KYC trading options. Moreover, Bitunix prioritizes security and transparency, two areas that LBank fails to improve, leading to numerous customer complaints.

Glossary

2FA: Two-Factor Authentication is a security method requiring two different types of proof to verify a user's identity before granting access to an account.

TVL: The entire value locked in a protocol, a rough usage proxy.

DeFi: Decentralized finance applications on public blockchains.

Layer 1: Base blockchain that verifies and records transactions.

Layer 2: A scaling solution that processes transactions off the main chain and posts proofs to L1.

Gas: Network fee for processing a transaction.

Altcoin: Any crypto asset that is not Bitcoin.

Volatility: Degree of price fluctuation for an asset over time.

Proof of Stake (PoS): Consensus where validators lock native tokens to secure the network and earn rewards.

Validator: Operator that proposes or attests blocks in PoS and shares rewards with delegators.

Incentive Program: Extra token rewards used to direct liquidity or votes.

Governance: Process for changing parameters or logic, often token-based with timelocks.

Trading Pair: A combination of two different digital or fiat currencies that can be exchanged for one another on a cryptocurrency exchange.

Stable Pair: A pool of assets that track similar values, such as two stablecoins.

About Bitunix

Bitunix is a global cryptocurrency derivatives exchange trusted by over 3 million users across more than 100 countries. At Bitunix, we are committed to providing a transparent, compliant, and secure trading environment for every user. Our platform features a fast registration process and a user-friendly verification system supported by mandatory KYC to ensure safety and compliance. With global standards of protection through Proof of Reserves (POR) and the Bitunix Care Fund, we prioritize user trust and fund security. The K-Line Ultra chart system delivers a seamless trading experience for both beginners and advanced traders. At the same time, leverage of up to 200x and deep liquidity make Bitunix one of the most dynamic platforms in the market.

Bitunix Global Accounts

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