Lykke Overview
Lykke Exchange is a Swiss centralized cryptocurrency platform founded by Richard Olsen, renowned for his groundbreaking work with Oanda. The exchange operates at both B2C and B2B levels, providing a range of financial products and services.
Key Features
1. Fee Structure
Lykke Exchange stands out with its favorable fee structure. Traders benefit from 0 fees, making it a cost-effective option for cryptocurrency trading. The platform also supports forex trading.
2. Compliance
Lykke adheres to stringent KYC (Know Your Customer) and AML (Anti-Money Laundering) standards to ensure a secure trading environment.
3. Asset Support
The platform offers a diverse range of assets, including cryptocurrencies, fiat currencies, commodities, and native tokens like LKK. Lykke Corp's ownership is represented by 100 LKK tokens.
4. LyCI Utility Tokens
Lykke introduces LyCI utility tokens, representing various crypto indices. These include LyCI (top 25 cryptos), short LyCI (for bearish market predictions), Pay LyCI (top 10 payment cryptos), and Smart LyCI (top 10 smart contract projects).
5. Restricted Jurisdictions
Lykke Exchange restricts access for users from certain jurisdictions, including the United States, China, Japan, and others. Users should be aware of these limitations before choosing Lykke as their trading venue.
Trading Experience
1. Trading View
Lykke Exchange offers a unique trading view, allowing users to customize their experience. The interface typically includes order book details, price charts, and order history.
2. Trading Fees
Lykke stands out by not charging any trading fees for both takers and makers, making it a highly competitive choice in the cryptocurrency exchange landscape.
3. Withdrawal Fees
The platform maintains competitive withdrawal fees, with a nominal charge of 0.0005 BTC for Bitcoin withdrawals. Fiat currency withdrawals incur no fees.
4. Deposit Methods
Lykke supports deposits through wire transfer and credit cards, catering to the needs of both experienced and novice crypto investors. Importantly, the platform does not charge fees for fiat currency deposits.
Conclusion
Lykke Exchange offers a compelling combination of features, including a fee-free trading environment, diverse asset support, and innovative LyCI utility tokens. While it imposes restrictions on certain jurisdictions, it provides a user-friendly experience for traders looking for a reliable and cost-effective platform.
What are the trading fees on Lykke?
Lykke stands out by not charging any trading fees for both takers and makers, making it a highly competitive choice in the cryptocurrency exchange landscape.
Does Lykke offer leverage trading?
Lykke does not currently offer margin trading or leverage options.
