No, LBank doesn’t require KYC. LBank is considered to be a no-KYC crypto exchange. You can trade, deposit, and withdraw on LBank without personal identification.
While most features are accessible to everybody, some features are locked for unverified LBank users. Read on to learn more.
Warning
While LBank appears to be a legitimate crypto exchange, we recommend different exchanges such as Bybit or Bitget. Also, we highly recommend storing your funds in your personal hardware wallet.
LBank Withdrawal Limits
LBank is a no-KYC crypto exchange with withdrawal limits based on your KYC level. A higher KYC level results in higher withdrawal limits. LBank only has one KYC level.
You can see the exact withdrawal limits in the table below. The limits reset every 24 hours, and there is no cumulative limit. The daily Withdrawal limit on LBank is calculated in USDT.
| KYC Level | 24h Withdrawal Limits |
|---|---|
| Unverified (KYC 0) | $10,000 |
| Primary KYC (1) | $60,000 |
Additionally, you can unlock higher withdrawal limits by doing some simple tasks. This is a rather odd withdrawal limit system which we have never seen before.
| Requirement | Additional Withdrawal Limit |
|---|---|
| Bind Phone Number | +$20,000 |
| Add Google Authenticator | +$270,000 |
| Add Asset Password | +$200,000 |
Is LBank Safe To Use Without KYC?
We consider LBank to be a rather risky crypto exchange.
The platform has never been hacked, offers generous daily withdrawal limits, and offers reliable service. Users can trade, deposit, and withdraw without having to undergo the KYC identification process.
However, we recommend you never keep your investments on a centralized exchange. Always withdraw your funds to your personal wallet when you are done with trading.
LBank KYC Requirements
The KYC on LBank is handled by sumsub, a prominent online verification system. In order to verify your identity on LBank, you must submit personal information, including government-issued documents.
See all required details below:
Level 1 KYC (Primary KYC)
The requirements for the first KYC level are the following details:
- Personal information
- Name
- Date Of Birth
- Government-issued ID, Drivers License, or Resident Permit ID
- ID Number
- Liveness Check (Selfie)
For the liveness check, we recommend using your phone.
FAQ
Does LBank require KYC?
No, LBank doesn’t require KYC verification. You can trade without the identification process on LBank.
Is LBank legit?
LBank is a relatively unknown crypto exchange. While LBank appears to be a legitimate crypto exchange, we recommend different exchanges such as Bybit or Bitget. Also, we highly recommend storing your funds in your personal hardware wallet.
Is LBank available in the United States?
No, LBank is not allowed in the United States at all. While you can still sign up and trade with a VPN, we advise against it as it could lead to your account being frozen.
