Where to exchange LBRY Credits

Where to exchange LBRY Credits

By eatdostacos | LBRY Report | 21 Jul 2020


Once you have earned some LBRY Credits on LBRY, you may be wondering what to do with them or you may want to buy more to support your content. Here is a list of the current exchanges that support LBC and my experiences with them or the experiences of people I know.

Currently, not many top level exchanges support LBC, but hopefully many more will in the future as the platform grows.

  • Disclaimer: This is not financial advice or a recommendation to trade at any of the listed exchanges. Cryptocurrencies are a high risk investment and may not be suitable for all members of the public and all types of investor. Before purchasing cryptocurrency, you must ensure that the nature, complexity and risks inherent in the trading of cryptocurrency are suitable for your objectives in light of your circumstances and financial position. You should not purchase cryptocurrency unless you understand the extent of your exposure to potential loss.

Data Info

Exchange Types

Traditional exchanges are exchanges where people put in buy and sell orders and others fill those orders if they agree with the deal. This means someone can put any price they want in hopes that someone will buy or sell that price. Instant Exchanges are exchanges that have one set price that you can buy at and one price that you can sell at. There is no way to put your offer. Decentralized Exchanges (DEX) are exchanges where you are putting funds in and then trading with other people without a middle company holding your funds. The funds are held in the built in wallet of the DEX that you control the private keys for.

Pairs

The coins listed in the pairs section are the coins that can be traded with LBC.

Fees

This is a percent of every trade that is taken by the exchange for providing it's service.

KYC Levels

  • 1 - Non-invasive, requires no account or information
  • 2 - Requires an account with some information given
  • 3 - Requires full KYC with a lot of data (SSN, Drivers License, etc.)

Exchanges

Bittrex

Bittrex is one of the largest exchanges supporting LBC and is based in the U.S.

  • Exchange Type: Traditional
  • Pairs: BTC, USDT
  • Fees: 0.2%
  • KYC Level: 3
  • Personal Experience: Yes

Bittrex is a very good platform for trading to get the best rates, but requires much of your personal data if you live in the U.S. including your Social Security Number.

CoinEx

CoinEx is a traditional exchange operating globally.

  • Exchange Type: Traditional
  • Pairs: BTC, USDT
  • Fees: 0.05%-0.15%
  • KYC Level: 2
  • Personal Experience: No

I do not have personal experience with CoinEx, but it seems to have high volume and possibly lets you withdraw up to $10k every day without extra KYC.

Upbit

Upbit is a South Korean exchange that seems to be hard for foreigners to trade on.

  • Exchange Type: Traditional
  • Pairs: BTC
  • Fees: 0.25% to BTC, 0.05% using Korean Won
  • KYC Level: ?
  • Personal Experience: No

VCC Exchange

VCC Exchange is a Singapore/Vietnam-based exchange.

  • Exchange Type: Traditional
  • Pairs: BTC
  • Fees: 0.05% to 0.2%
  • KYC Level: 2-3 based on trading amount
  • Personal Experience: No

Swapzone

Swapzone is an instant exchange aggregator taking the best prices from many instant exchanges.

  • Exchange Type: Instant
  • Pairs: Many (Used for VTC-LBC)
  • Fees: Depends on Exchange Chosen
  • KYC Level: 1
  • Personal Experience: Yes

If you don't care about getting the exact best price at the moment, but want to quickly trade many different coins including LBC, this is the way to go. It also doesn't require you to make an account or give them your personal information.

Simple Swap

Simple Swap is another instant exchange offering LBC pairs with hundreds of different coins and tokens.

  • Exchange Type: Instant
  • Pairs: Many (Used for VTC-LBC)
  • Fees: 1%
  • KYC Level: 1
  • Personal Experience: Yes

I used SwapZone through SimpleSwap and had it work quickly and I got the exact amount specified.

Stealthex

Stealthex offers instant exchanging of many different coins and tokens including LBC.

  • Exchange Type: Instant
  • Pairs: Many
  • Fees: 0.4%
  • KYC Level: 1
  • Personal Experience: No

If you want to exchange LBC to or from many different coins it seems to be a solid choice, but I would recommend checking Swapzone first to see if any other exchanges offer better prices, just to make sure you get the best deal.

SwapSpace

This is another instant exchange aggregator that tries to offer the best price from different exchanges.

  • Exchange Type: Instant
  • Pairs: Many
  • Fees: 0% from SwapSpace (fee from exchange chosen)
  • KYC Level: 1
  • Personal Experience: No

It is good to check all of the Instant Exchanges before exchanging to check which one has the best pricing.

Bisq

This is currently the only Decentralized Exchange trading LBC.

  • Exchange Type: DEX
  • Pairs: BTC
  • Fees: ?
  • KYC Level: 1
  • Personal Experience: Tried, but didn't trade

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This image shows all of the trades ever made with LBC on Bisq. The volume as you can see is pretty much non-existant.

Bisq isn't a very large trading platform, so it always has extremely low volume. When I checked, it had no trades to fill and the process for creating an offer didn't seem to work and wanted me to create an altcoin account for LBC, but didn't have LBC available to be created as an altcoin account. This is a more hardcore exchange for people who want more privacy and are willing to download the app and connect to the TOR network while it sets itself up.

 

Thanks for reading! If you really enjoyed and want to sign up to LBRY you can do so here and we will both receive some LBC at no extra charge to you.



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