Lykke Exchange Review
Lykke Exchange is a centralized exchange that occupies #233 on Guru InvestingExchange Tracker. Lykke Exchange has trading volume US$177,634 in the last 24 hours and US$89,407,423 in the last 7 days.
Lykke Exchange currently has 20 cryptocurrencies, 4 paper currencies and 73 markets (cryptocurrency trading pairs). The most popular trading pair on Lykke Exchange is ETH/CHF.
Compare Lykke Exchange next to other exchanges here: Exchange comparison tool.
Lykke Cryptocurrency Exchange is a platform that provides its users with an easy way to buy, sell and trade digital currencies. Founded in 2015 and based in Switzerland, the platform has become one of the oldest cryptocurrency exchanges operating today. In addition, since it is located in Switzerland, it enjoys strong legal protection from government intervention, as well as strict financial rules created to ensure the safety of investors’ funds.
Talking about the security measures of the Lykke crypto exchange, it provides two-factor authentication either through SMS messages or email, as well as cold storage wallets to protect large sums of money from access by criminals. Moreover, it accepts KYC/AML policies that comply with anti-money laundering standards and counter-terrorism financing regulations in Europe and are rapidly expanding its services around the world. Currently, the platform supports more than 120 countries, but it does not offer its services in Afghanistan, Canada (British Columbia, Quebec and Saskatchewan), China, Iran, Iraq, Japan, Lebanon, Libya, Namibia, New Zealand, North Korea. , Syria, USA and Yemen.
Markets
The Lykke cryptocurrency exchange offers a variety of trading pairs, from most popular coins such as Bitcoin, Ethereum and Litecoin, to lesser-known tokens such as Dogecoin, Dash and Monero. In addition, the platform allows you to trade the following paper currencies: CAD, CHF, CZK, DKK, EUR, GBP, HKD, HUF, ILS, JPY, MXN, NOK, NZD, PLN, RUB, SEK, SGD, TRY, USD and ZAR.
With over 200 different crypto assets available for trading on the platform, users have plenty of options when choosing their desired Lykke trading pairs. In addition, the platform allows exchanging fiat money for cryptocurrency so customers can easily convert their local currency into any supported coin or token without the need for third party services. Lykke Spot is the only trading option available on the platform as it does not support margin or leverage trading.
Regarding Lykke exchange fees, the platform does not charge trading fees. However, it charges individual withdrawal and deposit fees. The only fiat currency that has a withdrawal fee is the US dollar, which incurs a $20 fee on every withdrawal. In general, the platform does not charge fees for cryptocurrency deposits, but the Lykke cryptocurrency price of 0.00025 BTC is tied to it. BTC withdrawal of funds. Other cryptocurrencies also have their own unique fees.
In addition to trading a wide range of digital currencies and fiat money, Lykke also provides commodities and native tokens. One of these tokens is LKK token whereby 100 LKK represents the ownership interest in Lykke Corp..
Other assets that may be of interest to traders are LyCI utility tokens. These tokens represent the corresponding crypto indices: Top 25 Cryptocurrencies. (LiKI)short versions of these cryptocurrencies (LyCI for short)leading payment cryptocurrencies (Payment LyCI)And smart contract projects (Smart LyCI). By providing index investing typically only available to professional traders, Lykke aims to make this opportunity more accessible.
About company
Founded the Lykke cryptocurrency exchange Richard Olsen, Norwegian entrepreneur and former CEO of OANDA. He has over 20 years of experience in the financial markets industry, specializing in technology-based trading platforms. Richard also founded the Oslo-based research company Olsen Ltd., which specializes in quantitative finance and the development of algorithmic trading strategies. His mission at the Lykke exchange is to create an open global marketplace for all asset classes using distributed ledger technology (DLT).
In February 2023, Lykke’s trading volume hovered around $159,000. If you want to check Lykke’s current volume, look above.
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A cryptocurrency exchange is an online platform where you can buy, sell, or trade cryptocurrencies like Bitcoin, Ethereum, and others.
Safety varies by exchange. Look for platforms with strong security measures, like two-factor authentication and cold storage for funds.
Consider factors like security, fees, available coins, user interface, and customer support.
Centralized exchanges are managed by a company, while decentralized exchanges operate without a central authority.
Many exchanges require Know Your Customer (KYC) verification for security and regulatory compliance.
Trading fees vary but typically include maker fees (for adding liquidity) and taker fees (for removing liquidity).
Yes, most exchanges offer cryptocurrency-to-cryptocurrency trading pairs.
Withdrawal times depend on the exchange and the cryptocurrency. Some are instant, while others may take hours or even days.
A wallet address is like a bank account number for cryptocurrencies. It’s required to send your crypto to the right place.
Yes, depending on your country’s tax laws, trading cryptocurrencies may have tax consequences. Consult a tax professional for guidance.
Yes, many cryptocurrency exchanges operate 24/7, allowing you to trade at any time.
A market order buys or sells at the current market price, while a limit order sets a specific price at which you want to buy or sell.
Yes, each exchange sets its own minimum and maximum trading limits, which can vary widely.
It’s not recommended. For security, it’s better to use a cryptocurrency wallet, especially for significant holdings.
Exchanges typically have account recovery processes, including password reset options and support for forgotten usernames.
Some exchanges offer insurance, but coverage can be limited. It’s essential to check an exchange’s insurance policy.
Use strong passwords, enable two-factor authentication, and be cautious of phishing scams and suspicious emails.
Yes, but it’s recommended to learn the basics of trading and understand the risks involved before you start.
Stablecoins are cryptocurrencies pegged to the value of a fiat currency like the US dollar. They provide stability and are commonly used for trading and transferring funds on exchanges.
Yes, regulations vary by country. Many countries have implemented or are considering regulations to govern cryptocurrency exchanges for consumer protection and financial stability.
