LBank Deposit

Apr 29, 2024 9427 0

Deposit Crypto into LBank

You can move your cryptocurrency holdings from another platform or wallet to your LBank Wallet for trading.

How to find my LBank deposit address?

Cryptocurrencies are deposited via a “deposit address”. To view the deposit address of your LBank Wallet, go to [Wallet] - [Deposit]. Then copy and paste the address to the platform or wallet you are withdrawing from to transfer them to your LBank Wallet.

Step-by-step tutorial

1. Click [Wallet]-[Deposit] after signing into your LBank account.

2. Choose a cryptocurrency, such as USDT, that you want to deposit.

3. Next, choose the deposit network. Please make sure that the selected network is the same as the network of the platform you are withdrawing funds from. If you choose the wrong network, you will lose your funds.

Summary of network selection:

ERC20 refers to the Ethereum network.
TRC20 refers to the TRON network.
BTC refers to the Bitcoin network.
BTC (SegWit) refers to Native Segwit (bech32), and the address starts with “bc1”. Users can withdraw or send their Bitcoin holdings to SegWit (bech32) addresses.
BEP2 refers to the Binance Chain.
BEP20 refers to the Binance Smart Chain (BSC).

4. If you are withdrawing from an ERC20 address (Ethereum blockchain), we will select the ERC20 deposit network.

The network selection depends on the options provided by the external wallet/exchange you are withdrawing.
If the external platform only supports ERC20, you must select the ERC20 deposit network.
DO NOT select the cheapest fee option. Select the one that is compatible with the external platform.
For example, you can only send ERC20 tokens to another ERC20 address, and you can only send BSC tokens to another BSC address. If you select incompatible/different deposit networks, you will lose your funds.

5. Click to copy your LBank Wallet’s deposit address and paste it to the address field on the platform you intend to withdraw crypto from.

6. After confirming the withdrawal request, it takes time for the transaction to be confirmed. The confirmation time varies depending on the blockchain and its current network traffic.

Please wait patiently for the transfer to be processed. The funds will be credited to your LBank account shortly after.

7. You can check the status of your deposit from [Records], as well as more information on your recent transactions.

How to Buy Crypto on LBank

Buy Crypto on LBank with a Credit/Debit Card

1. After logging in, select [Buy Crypto] - [Credit/Debit Card] from the LBank account menu.

2. Enter the amount in the “I Want to Spend" and select the crypto that you wanted to buy under the "I Want to Buy" field. Then choose “Payment Method”, and click “Search”. In the list below, choose a third-party platform you want to trade, and click “Buy Now”.

3. Review the order details before clicking the [Confirm] button.

4. Complete the details to pass the Identity Verification (KYC) on the third-party platform. Once successfully verified, the service provider will immediately transfer and exchange the cryptocurrencies in your LBank account.

5. This is where you can see the order details.

Buy Crypto on LBank with Bank Transfer

Deposit Guide

How can I purchase cryptocurrency using funds from my bank account is one of the most commonly asked questions.

It’s simple! As an illustration, send money from Bank of America.

Select the “Transfer” menu, then click “Using Someone’s Account Number At another bank”.

Add a recipient

If this is the first time you are sending the funds to us, you need to add Legend Trading Inc. as a recipient. This is a one-time effort. You won’t need to do this again in the future.

Enter the correct information below, which you can also find on our OTC deposit page anytime.

Account Name: Legend Trading Inc.
Account Address: 960 San Antonio Road, Suite 200, Palo Alto, CA 94303, United States
Account Number: 1503983881
Routing Number: 026013576
Bank Name: Signature Bank
Bank address: 565 Fifth Avenue New York NY 10017, USA
SWIFT code: SIGNUS33XXX (Only use it if your bank is outside of the U.S.)

The same details mentioned above are available at any time on our OTC deposit page.

Let’s go back to the bank page, it should look like this after you entered the account information -

Enter [email protected] or [email protected] in the Email text field, although it’s optional.

Now that you have added the recipient successfully, you can send money, i.e., make a deposit to your OTC account.

You can send money now that the receiver has been added successfully.

1. Check out the OTC “Deposit” Page and find your own reference code.

This code is unique for each user, use your own code!

2. Enter the code in the “Description” or “Additional information” field on your transfer page.

ACH vs Wire Transfer

When sending money to us, you have several choices. The option for wire transfers is the quickest, thus we strongly advise using it. The funds can typically be received on the same day.

Reference Code

To recognize the sender of each deposit 100% correctly, we ask that each user enters this reference code. Again, this code is unique for each user, use your own code!

If you don’t worry, email finance@legendtrading and we’ll locate the transfer for you. Whenever you contact our Finance staff, please include a screenshot of your bank transfer information.

Minimum Transfer Amount

Feel free to send any amount you want. However, there’s a minimum trade limit of $500 at our OTC service, so if your deposit amount was less than $500, you won’t be able to trade, although you can see it from your OTC balance. We’d suggest that you deposit more than $505, or you may not be able to execute a trade although you have a USD balance.

Once your funds arrive in our bank account, we’ll update your OTC account balance accordingly. Check the OTC page, you’ll see your USD balance appear at the bottom right.

Congratulations! You are all set to buy crypto!

Please don’t hesitate to email us if you require any additional help with the bank, ACH/Wire transfers, or if you believe it has taken too long: [email protected]

Frequently Asked Questions (FAQ)

What should I do if I deposit my tokens to the wrong address?

If you deposit your tokens to the wrong address on LBank (for example, you deposit ETH to DAX address on LBank). Please follow the below instructions to retrieve your asset:

1. Check if you fit the below circumstances, if so, your asset cannot be retrieved.

The address you deposit to does not exist
The address you deposit to is not the LBank address
The token you deposited hasn’t been listed on LBank
Other non-retrievable circumstances

2. Download “Asset Retrieving Request”, fill it out and send it to LBank’s customer service through email ([email protected]).

LBank’s customer service will process your application as soon as your email is received and reply to you whether your assets can be retrieved within 5 working days. If your asset is retrievable, your asset will be transferred to your account within 30 working days, thank you for your patience.

How to Retrieve Crypto Deposit with Wrong or Missing Tag/Memo?

What is a tag/memo and why do I need to enter it when depositing crypto?

A tag or memo is a unique identifier assigned to each account for identifying a deposit and crediting the appropriate account. When depositing certain crypto, such as XEM, XLM, XRP, KAVA, LUNA, ATOM, BAND, EOS, BNB, etc., you need to enter the respective tag or memo for it to be successfully credited.

What transactions are eligible for Tag/Memo Recovery?

Deposit to LBank accounts with wrong or missing tag/memo;
If you entered the wrong address or tag/memo for your withdrawal, LBank is unable to assist you. Please contact the platform you are withdrawing from for assistance. Your assets might be lost;
Deposit of crypto that is already listed on LBank. If the crypto you’re trying to retrieve is not supported on LBank, please contact our online service for help.

Deposit made to the incorrect receiving/deposit address or an Unlisted token deposited?

LBank generally does not offer a token/coin recovery service. However, if you have suffered a significant loss as a result of incorrectly deposited tokens/coins, LBank may, solely at our discretion, assist you in recovering your tokens/coins. LBank has comprehensive procedures to help our users recover their financial losses. Please note that successful token recovery is not guaranteed. If you have encountered this sort of situation, please remember to provide the following information to us for speedy assistance: