Lykke

Lykke

  • Switzerland

  • Full trading platform

  • Lykke.com

  • Since 2018

Lykke
In Social Media:
Intuitive Ease of use,  Enough secure,  Anonymously trading

Volume 24H: $104,781

Lykke is a semi-centralized cryptocurrency and asset exchange that aims to eliminate market inefficiencies and promote equal access from anywhere in the world. The exchange claims to be fast and secure and also offers Lykke coins that represent ownership of the company. The exchange allows both fiat to crypto and crypto to crypto trades, with zero commission using the Lykke mobile wallet.

Lykke only offers an Android and iOS mobile app, with web trading coming soon. The app is very user-friendly and easy to use, but doesn't have many advanced features. Holding coins long-term is relatively safe, and can be put into cold storage by writing down the 12-word seed and deleting the app to avoid hacks, then re-installing it when needed.

Traditional Currency Support

  • Australian Dollar (AUD)
  • Canadian Dollar (CAD)
  • Euros (EUR)
  • Swiss Franc (CHF)
  • US Dollar (USD)

Language Support

  • English

Country Support

  • European Union
  • Hong Kong
  • Most Africa
  • Most of Asia
  • Most of Eastern European Union
  • Most of Latin America
  • Most of the Middle East
  • New Zealand
  • Norway
  • Russian Federation
  • Singapore
  • Switzerland
  • Turkey
  • United Kingdom of Great Britain and Northern Ireland

Platforms Systems

  • Mobile App
  • API

Partners and integrated software

  • Lykke Wallet
  • Coinprism

Stock Market Options

Interface
customisation:

  • Allows customization of charts

Advanced
Options:

  • Limit Order
  • Market Order
  • Fill or Kill
  • Good till canceled order (GTC)
  • Automatic Order Matching

Discounts For
The Big Traders:

  • Reduced Maker fees
  • Volume based discounts

Special
Services:

  • Margin Trading x3

Lykke security levels are exceptionally high. They offer 2FA and a withdrawal white list option. They use an elastic multi-stage wallet strategy ensuring that 80-90% of funds are kept offline and secure. Also, for withdrawals, users are required to pass an enhanced verification process providing proof of the validity of their identification documents.

Summary:

2 Factor Authentication
Yes
Funds Insured
Funds are not insured
Private Keys Stored On
User
Storage Type
User is responsible for key storage

Advanced Security Features:

  • Email reports of logins
  • Ability to limit access to account based on IP address
  • Monitor bahavior patterns for suspicious activity
  • Email Notification of withdrawal
  • SMS notification of Login's
  • multisignature - if exchange is compromised
  • coins can't be spent without client's private key

Security Features:

  • SSL
  • Protection from DDoS attackes
  • Regular Auditing Programs

Legal Registration or Compliance:

  • KYC/AML Compliant
  • Vanuatu Financial Services License

Lykke was founded by Richard Olsen, who has a history in finance and a good deal of credibility. The company has a good online presence and a lot of press coverage and informative support. The aim of the company is to create a global marketplace based on the Blockchain and to eliminate the inefficiencies of the current financial system.

Summary:

The Lykke exchange is an interesting platform with features that go beyond simple crypto trading, like user-issued tokens, foreign exchange competitiveness, refunds in case of emergency, and a semi-centralized structure with multi-signature transactions which make the platform more secure. The company seems very open and transparent about their history and future plans.

Ease of use
Intuitive
Transaction Fees
It's free (fees may be hidden)
Deposit/Withdrawal Fee
It's free (fees may be hidden)
Deposit/Withdrawal Fee c For Bank Transfer
It's free (fees may be hidden)
Deposit/Withdrawal Fee For Credit Card
It's free (fees may be hidden)
Deposit/Withdrawal Fee Charged For 3rd party Payments
N/A
Anonymous Trading
Yes

Deposit/Withdrawal Options:

Deposit from bank account, Deposit using credit card, Withdrawl funds to bank account, Send/Receive Crypto

Functionality:

Lykke would be more accurately called an 'exchange wallet' as the mobile wallet app is the only way to access trading. It allows trading with both fiat and crypto, users can issue their own assets and coins similar to the Lykke coin as a way to buy company shares. Lykke also targets foreign exchange markets by offering fiat-to-fiat trading. Margin Trading is restricted in several countries.

Most common
customer complaint:

Some features are still in development, app crashing for some users, various small technical issues