Lykke
- Overview
- Security
- User Experience
Volume 24H: BTC 149.31/24h
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.
Crypto Currencies Support
- BTC
- ETH
- LKK
- SLR
Traditional Currency Support
- AUD
- CAD
- CHF
- EUR
- 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
- — Api
- — Mobile App
Stock Market Options
Lykke has strong security, especially through the multi-sig system for coins spending. It is a semi-centralized exchange--they don't ever take possession of coins, only the peer matching engine is centralized. They have a refund mechanism in case of emergency, which they used in 2017 during a small security breach where some users lost assets. In response, they introduced new security features.
Summary:
| 2 Factor Authentication | Yes |
| Funds Insured | Funds Are Not Insured |
| Private Keys Stored On | User |
| Storage Type | User Is Responsible For Key Storage |
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 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 | No |
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