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A “How to” guide to a BIG FOUR exchange – LakeBTC

There have been a lot of Bitcoin exchanges in the internet today and one of the oldest and most trusted of them is Lakebtc. The exchange started in 2013 and is located in China. They have a strong international presence wherein it supports a number of fiat currencies and bank options around the world. They offer a solid security system built over the years in ensuring the safety and security of their customers funds and privacy. They also provide good liquidity to all kinds of customers from merchants to miners and traders to established trading firms. LakeBTC is one of the Big Four exchanges in Coindex Bitcoin Price Index and a member of the International Ripple Gateway Association. It has been one of the most important bitcoin indexes in the industry. LakeBTC also promises fairness and efficiency in the market and also excellent customer experience.

Unlike other Bitcoin exchanges, LakeBTC allows users to trade whatever Account types they have. They support three types of accounts namely Unverified, Individual and Corporate. Bitcoin trading, withdrawals and deposits is allowed to all types of accounts. However Bank wire withdrawals and deposits are only permitted verified individual and corporate accounts. Thus, even if you do not verify your identification, you can still trade so long as your transactions do not involve real FIAT currencies.

LakeBTC also offers other features such as LakeTrader. LakeTrader is a trading browser app where users can view live data and pro charting. It is also integrated with CoinDesk BPI data and OnClick trade. The app is perfect for professional traders and also to those who trade frequently.

Aside from being a trading platform, LakeBTC is a bitcoin wallet too. The wallet is easy to use and at the same time safe and secure. You can transfer funds from LakeBTC wallet to your other bitcoin wallets through BTC withdrawal.

The following are the supported payment options:

  • Bank wire
  • LakePay
  • Leupay
  • MoneyGram
  • Neteller
  • PayPal
  • Payza
  • Perfect Money
  • Skrill
  • Western Union

Getting started with LakeBTC

Using LakeBTC is easy and simple. Creating an account is very quick and easy allowing you to have a glimpse of how LakeBTC works. Once you know the exchange better, you can then verify your identification, link your external accounts and start trading.

Register an account

Step 1

Go to their website and click on Register

Step 2

Enter your email address and password, then click on Register button

Step 3

Go to your email and confirm your registration

Step 4

Login to your account using the email address and password you used when signing up

You will then be lead to your LakeBTC dashboard where you will see the Wallet, LakeBanker, Trade, OTC and My Account sections.

How to fund your account?

There are many ways to fund your account in LakeBTC. You just need to choose the most convenient way for you.

Step 1

Create Sub account/s by clicking on the Wallet section then Wallet tab and choose from a number of currency options

For instance we will use the BTC option

You will then have the Sub account listed on your wallet.

Step 2

Fund the Sub account by clicking on the Deposit tab. Copy the bitcoin address or scan the barcode to send funds on that account

Follow the same steps in using other currency options and follow the instructions provided.

How to trade with LakeBTC?

Click on the Trade section and the trade screen will show up

You can create more currency pairs by clicking on more button where you will create more Sub accounts as shown in the How to fund your account? guide

Make sure that you have funded your USD or other currency sub accounts before you can place an order to buy.

To place an order to sell, you should fund your BTC account beforehand.

You can also view all your orders on the Open orders tab

You can also view Over-the-counter Order book in the OTC tab. You can view the details of an order by clicking on the View link

Enter the amount of bitcoin you want to sell and add an external account to receive the payment then click on the SELL Bitcoin button

This post first appeared on Bitcoin Everything | Your #1 Bitcoin Resource, please read the originial post: here

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A “How to” guide to a BIG FOUR exchange – LakeBTC


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