Lykke Review 2025
By FXCOINZ Editorial
Last updated: Apr 11, 2024 • 12 Min Read
Lykke
Lykke is a Swiss-based cryptocurrency exchange and financial platform that provides services for buying, selling, and trading various digital assets. Lykke was established in 2015 by Richard Olsen. The platform was founded with the vision of creating a global marketplace for all asset classes using blockchain technology.
Introduction
Lykke is known for several attributes that distinguish its platform in the cryptocurrency exchange space. Here are some key platform attributes associated with Lykke:
- Blockchain-Based Trading: Lykke leverages blockchain technology to enable direct ownership of assets. The use of blockchain enhances transparency, security, and the immutability of transactions.
- Tokenized Assets: Lykke offers a range of tokenized assets, which are digital representations of real-world assets. These tokenized assets are traded on the Lykke Exchange, providing users with exposure to various traditional and digital assets.
- Zero Trading Fees: Lykke implemented a zero-trading-fee model for spot trading on certain assets. This fee structure aims to attract users by eliminating traditional trading fees, providing cost-effective trading opportunities.
No Fee Crypto Exchange/Lykke.com
- Fiat-to-Crypto Trading: The platform supports trading pairs that involve fiat currencies, allowing users to trade cryptocurrencies against traditional currencies like USD and EUR.
Platform/Lykke.com
- Mobile Trading App: Lykke provides a mobile application available on both iOS and Android platforms. The mobile app allows users to trade cryptocurrencies and manage their portfolios on the go, providing flexibility and accessibility.
Lykke Exchange Mobile/Lykke.com
- Digital Wallet: Lykke offers a digital wallet where users can securely store their cryptocurrencies and tokenized assets. The wallet is designed to provide a user-friendly and secure storage solution for digital assets.
- Global Reach: While based in Switzerland, Lykke aims to serve a global user base. The platform’s services are available to users in various regions around the world.
- Educational Resources: Lykke provides educational resources on its platform to help users understand blockchain technology, cryptocurrencies, and the trading features offered on the exchange.
- Innovative Features: Lykke is known for introducing innovative features and exploring new opportunities in the blockchain and financial technology space. The platform’s focus on tokenized assets and zero trading fees reflects a commitment to staying at the forefront of industry trends.
The Pros and Cons
Pros
- Blockchain-Based Trading: Lykke’s use of blockchain technology enhances transparency, security, and the integrity of transactions, providing users with a decentralized and trustless environment.
- Zero Trading Fees on Certain Assets: Lykke’s zero-trading-fee model on specific assets can be attractive to traders looking to minimize transaction costs.
- Tokenized Assets: Lykke offers a variety of tokenized assets, allowing users to trade digital representations of real-world assets, providing diversification and flexibility in investment choices.
- Fiat-to-Crypto Trading: The platform supports trading pairs involving fiat currencies, making it accessible to users who prefer trading with traditional currencies.
- Mobile Trading App: Lykke’s mobile application enables users to trade and manage their portfolios on the go, providing convenience and accessibility.
- Digital Wallet: Lykke provides a digital wallet for users to securely store their cryptocurrencies and tokenized assets, offering a user-friendly storage solution.
- Educational Resources: Lykke provides educational resources on its platform, helping users understand blockchain technology, cryptocurrencies, and how to use the platform effectively.
- Global Reach: Lykke aims to serve a global user base, providing its services to users in various regions around the world.
Cons
- Limited Cryptocurrency Selection: Lykke may have a more limited selection of cryptocurrencies compared to larger exchanges, potentially limiting the variety of assets available for trading.
- Not as Widely Known: Lykke may not be as widely known or have the same level of brand recognition as some other larger cryptocurrency exchanges.
- Tokenized Asset Risks: While tokenized assets offer additional investment opportunities, they also introduce risks associated with the underlying real-world assets and the stability of the tokenization process.
- Market Liquidity: The liquidity of some trading pairs on Lykke may be lower compared to more prominent exchanges, potentially leading to wider bid-ask spreads.
- Limited Advanced Trading Features: Lykke may not have the same range of advanced trading features and tools as some larger exchanges, which could be a limitation for experienced traders.
Brokerage Services
Lykke offers the following brokerage services:- Spot Trading: Lykke facilitates spot trading, allowing users to buy and sell various cryptocurrencies at current market prices.
- Mobile Trading: Lykke emphasizes mobile trading through its user-friendly mobile app, providing on-the-go access to cryptocurrency markets.
- Fiat-to-Crypto Pairs: Users on Lykke can typically trade fiat currencies for a selection of cryptocurrencies, providing a diverse range of trading pairs.
Individuals Selection/Lykke.com
Payment Methods
- Credit/Debit Cards: Users may have the option to deposit funds using credit or debit cards. Visa and Mastercard are commonly accepted.
- Bank Transfers: Lykke supports bank transfers, allowing users to deposit funds directly from their bank accounts.
- Cryptocurrency Deposits: Users can deposit various cryptocurrencies directly into their Lykke Exchange accounts. Lykke supports a range of cryptocurrencies.
- Lykke Wallet: The Lykke Wallet is a multi-asset mobile wallet that users can link to their Lykke Exchange account. It supports both cryptocurrencies and fiat currencies.
Registration Process
How to Open an Account
- Visit the Lykke Website: Go to the official Lykke website.
- Click on “Sign Up” or “Register”: Look for the “Sign Up” or “Register” button on the homepage and click on it.
Sign Up/Lykke.com
- Provide Email and Create Password: Enter a valid email address and create a secure password for your Lykke Exchange account.
Email Verification/Lykke.com
- Verification Email: Lykke may send a verification email to the provided email address. Check your inbox and click on the verification link to confirm your email.
Onboarding CAPTCHA/Lykke.com
- Complete Personal Information: Provide the necessary personal information, including your full name, date of birth, and any additional details required for account creation.
- Accept Terms and Conditions: Review and accept the terms and conditions of Lykke Exchange.
- Identity Verification: Lykke may require users to go through identity verification steps. This may involve submitting a photo of a government-issued ID and other necessary documents.
- Set Up Security Measures: Enhance the security of your account by setting up two-factor authentication (2FA) if available.
- Funding Your Account: Once your account is created and verified, you can fund it by depositing funds through the supported payment methods.
- Explore the Platform: With a funded and verified account, you can explore the Lykke Exchange platform, view available trading pairs, and start trading.
Deposit & Withdrawal Options
Deposit Options
- Bank Transfers: Users can deposit funds into their Lykke account via bank transfers. This typically involves transferring funds directly from your bank account to your Lykke account.
- Credit/Debit Cards: Lykke supports deposits through credit or debit cards, allowing users to fund their accounts using these payment methods.
- Cryptocurrency Deposits: Users have the option to deposit various cryptocurrencies directly into their Lykke Exchange accounts. Lykke supports a range of cryptocurrencies.
Withdrawal Options
- Bank Transfers: Withdrawals can be made through bank transfers, allowing users to transfer funds from their Lykke account to their bank account.
- Credit/Debit Cards: Lykke may support withdrawals to credit or debit cards, allowing users to withdraw funds using these methods.
- Cryptocurrency Withdrawals: Users can withdraw supported cryptocurrencies from their Lykke accounts. This involves transferring cryptocurrencies to an external wallet.
How to Deposit Funds
- Log In: Log in to your Lykke Exchange account using your credentials.
- Navigate to Deposit Section: Once logged in, navigate to the “Deposit” or “Funding” section on the Lykke platform.
- Choose Deposit Method: Select your preferred deposit method. Options may include bank transfers, credit/debit cards, or cryptocurrency deposits.
- Follow Instructions: Depending on the chosen deposit method, follow the on-screen instructions to complete the deposit. This may involve providing necessary details or initiating a transfer.
- Wait for Confirmation: After completing the deposit, wait for the transaction to be confirmed. The time it takes for funds to be credited to your Lykke account may vary based on the chosen method.
How to Withdraw Funds
- Log In: Log in to your Lykke Exchange account using your credentials.
- Navigate to Withdrawal Section: Go to the “Withdrawal” or “Withdraw Funds” section on the Lykke platform.
- Choose Withdrawal Method: Select your preferred withdrawal method. Options may include bank transfers, credit/debit cards, or cryptocurrency withdrawals.
- Follow Instructions: Depending on the chosen withdrawal method, follow the on-screen instructions to complete the withdrawal. This may involve providing necessary details or initiating a transfer.
- Review and Confirm: Review the withdrawal details, including the amount and destination. Confirm the withdrawal to initiate the process.
- Wait for Processing: Allow time for the withdrawal request to be processed. Processing times may vary based on the chosen method.
Trading Platform
Lykke operates its own proprietary trading platform. The Lykke trading platform is designed to provide users with a user-friendly interface and a range of features for trading various cryptocurrencies. Lykke’s platform offers functionalities such as spot trading, real-time market data, and the ability to trade multiple digital assets.Key Aspects
Key features of Lykke’s trading platform may include:- Spot Trading: Users can engage in spot trading, where they buy and sell cryptocurrencies at the current market prices.
- Real-Time Market Data: The platform provides real-time market data, including price charts, order books, and trading history, to help users make informed trading decisions.
- Mobile Trading: Lykke offers mobile applications for both iOS and Android platforms, allowing users to trade and manage their accounts on the go.
- Security Features: The platform typically implements security measures such as two-factor authentication (2FA) to enhance the security of user accounts.
- Supported Cryptocurrencies: Lykke supports a variety of cryptocurrencies, allowing users to trade popular digital assets.
Buy Sell Crypto Currency Trading/Lykke.com
FAQs
- How Do I Open an Account on Lykke? To open an account on Lykke Exchange, visit the official website, click on “Sign Up,” and follow the prompts to provide your email, create a password, and complete the registration process.
- What Documents Are Needed for Verification? Lykke typically requires identity verification, which may include submitting a photo of a government-issued ID and, in some cases, additional documents for enhanced security.
- Which Countries Does Lykke Support? Lykke aims to provide services globally, but the availability of services can vary by region. Check the official Lykke website for information on supported countries.
- What Cryptocurrencies Can I Trade on Lykke? Lykke supports a variety of cryptocurrencies, including popular ones like Bitcoin (BTC), Ethereum (ETH), and others. The list may vary, so check the platform for the most up-to-date information.
- How Can I Deposit Funds into My Lykke Account? You can deposit funds using various methods, such as bank transfers, credit/debit cards, or cryptocurrency deposits. Choose the method that suits you and follow the instructions on the platform.
- What Security Measures Does Lykke Have? Lykke implements security features like two-factor authentication (2FA) to enhance the security of user accounts.
- How Can I Withdraw Funds from Lykke? Withdraw funds by navigating to the withdrawal section and choosing your preferred method, such as bank transfer, credit/debit card, or cryptocurrency withdrawal.
- Are There Fees for Using Lykke? Yes, Lykke has a fee schedule that varies based on the type of transaction. Check the official Lykke website for the most current fee information.
- Does Lykke Have a Mobile App? Yes, Lykke provides mobile apps for both iOS and Android devices, allowing users to trade and manage their accounts on the go.
- Is Lykke Regulated? Lykke is not regulated by any specific financial authority. While it strives to operate with transparency and integrity, it’s essential to note that it may not fall under the oversight of regulatory bodies like traditional banks or financial institutions.
Customer Support
- Channels of Support: Lykke Exchange typically provides customer support through various channels, including an online support ticket system and email. Users can submit their queries or issues through these channels.
Contact/Lykke.com
- 24/7 Support: Lykke does not offer 24/7 customer support. Support availability may be limited to certain hours or specific days of the week. Users are encouraged to check the official Lykke website or contact support directly for the most accurate information regarding support hours.
- Help Center: Lykke has a Help Center on its website, which includes frequently asked questions (FAQs) and articles that may address common queries. Users are encouraged to explore the Help Center for self-service options.
Help Center/Lykke.com
- Social Media: Lykke provides updates and engage with users through social media channels, such as X and other platforms. While social media is not a primary support channel, users sometimes post inquiries or concerns on these platforms.
Social Media
Here are the social media accounts associated with Lykke:- X (Twitter): Lykke’s official X account is often used for announcements, updates, and engaging with the community. You can follow them at Lykke X
- Facebook: Lykke maintains a Facebook page where they share updates, news, and relevant content. You can find them at Lykke Facebook
- LinkedIn: Lykke has a presence on LinkedIn, where they share professional updates and information about the company. You can follow them on Lykke LinkedIn.
- Reddit: Lykke has a presence on Reddit, where users may discuss Lykke-related topics. The official subreddit is r/lykke
- Instagram: Lykke maintains an Instagram account where they share updates and related content. You can find them at Lykke Instagram
- Discord: Lykke also has presence on Discord. You may see Lykke Discord here
Conclusion
In conclusion, Lykke Exchange presents a user-friendly platform catering to both novice and experienced cryptocurrency enthusiasts. With a robust trading interface, support for a diverse range of cryptocurrencies, and a commitment to security through features like two-factor authentication, Lykke stands out in the competitive crypto exchange landscape. While offering convenience and accessibility, users should be aware of potential considerations, including transaction fees and the evolving regulatory landscape. Overall, Lykke Exchange provides a compelling option for those seeking a versatile and secure platform to engage in cryptocurrency trading.Supported Cryptocurrencies
Lykke supports a variety of cryptocurrencies. Some of the commonly supported coins include:| ASSET | Networks | Trading Pairs |
|---|---|---|
| Bitcoin (BTC) | BTC | BTC/USD, BTC/EUR, BTC/GBP, BTC/CHF, BTC/AUD, BTC/CAD |
| Ethereum (ETH) | ETH | ETH/USD, ETH/EUR, ETH/BTC, ETH/CHF, ETH/AUD, ETH/CAD |
| Ripple (XRP) | XRP | XRP/USD, XRP/EUR, XRP/BTC, XRP/CHF, XRP/AUD, XRP/CAD |
| Litecoin (LTC) | LTC | LTC/USD, LTC/EUR, LTC/BTC, LTC/CHF, LTC/AUD, LTC/CAD |
| Bitcoin Cash (BCH) | BCH | BCH/USD, BCH/EUR, BCH/BTC, BCH/CHF, BCH/AUD, BCH/CAD |
| Stellar (XLM) | XLM | XLM/USD, XLM/EUR, XLM/BTC, XLM/CHF, XLM/AUD, XLM/CAD |
| Chainlink (LINK) | LINK | LINK/USD, LINK/EUR, LINK/BTC, LINK/CHF, LINK/AUD, LINK/CAD |
| Cardano (ADA) | ADA | ADA/USD, ADA/EUR, ADA/BTC, ADA/CHF, ADA/AUD, ADA/CAD |
| Polkadot (DOT) | DOT | DOT/USD, DOT/EUR, DOT/BTC, DOT/CHF, DOT/AUD, DOT/CAD |
| Binance Coin (BNB) | BNB | BNB/USD, BNB/EUR, BNB/BTC, BNB/CHF, BNB/AUD, BNB/CAD |
| Bitcoin SV (BSV) | BSV | BSV/USD, BSV/EUR, BSV/BTC, BSV/CHF, BSV/AUD, BSV/CAD |
| EOS (EOS) | EOS | EOS/USD, EOS/EUR, EOS/BTC, EOS/CHF, EOS/AUD, EOS/CAD |
| TRON (TRX) | TRX | TRX/USD, TRX/EUR, TRX/BTC, TRX/CHF, TRX/AUD, RX/CAD |
| Tezos (XTZ) | XTZ | XTZ/USD, XTZ/EUR, XTZ/BTC, XTZ/CHF, XTZ/AUD, XTZ/CAD |
| Monero (XMR) | XMR | XMR/USD, XMR/EUR, XMR/BTC, XMR/CHF, XMR/AUD, XMR/CAD |
| Dash (DASH) | DASH | DASH/USD, DASH/EUR, DASH/BTC, DASH/CHF, DASH/AUD, DASH/CAD |
| Zcash (ZEC) | ZEC | ZEC/USD, ZEC/EUR, ZEC/BTC, ZEC/CHF, ZEC/AUD, ZEC/CAD |
| Ethereum Classic (ETC) | ETC | ETC/USD, ETC/EUR, ETC/BTC, ETC/CHF, ETC/AUD, ETC/CAD |
| Dogecoin (DOGE) | DOGE | DOGE/USD, DOGE/EUR, DOGE/BTC, DOGE/CHF, DOGE/AUD, DOGE/CAD |
| VeChain (VET) | VET | VET/USD, VET/EUR, VET/BTC, VET/CHF, VET/AUD, VET/CAD |
| Algorand (ALGO) | ALGO | ALGO/USD, ALGO/EUR, ALGO/BTC, ALGO/CHF, ALGO/AUD, ALGO/CAD |
| Cosmos (ATOM) | ATOM | ATOM/USD, ATOM/EUR, ATOM/BTC, ATOM/CHF, ATOM/AUD, ATOM/CAD |
| Neo (NEO) | NEO | NEO/USD, NEO/EUR, NEO/BTC, NEO/CHF, NEO/AUD, NEO/CAD |
| Aave (AAVE) | AAVE | AAVE/USD, AAVE/EUR, AAVE/BTC, AAVE/CHF, AAVE/AUD, AAVE/CAD |
| Compound (COMP) | COMP | COMP/USD, COMP/EUR, COMP/BTC, COMP/CHF, COMP/AUD, COMP/CAD |
| yearn.finance (YFI) | YFI | YFI/USD, YFI/EUR, YFI/BTC, YFI/CHF, YFI/AUD, YFI/CAD |
| Uniswap (UNI) | UNI | UNI/USD, UNI/EUR, UNI/BTC, UNI/CHF, UNI/AUD, UNI/CAD |
| Maker (MKR) | MKR | MKR/USD, MKR/EUR, MKR/BTC, MKR/CHF, MKR/AUD, MKR/CAD |
| Synthetix (SNX) | SNX | SNX/USD, SNX/EUR, SNX/BTC, SNX/CHF, SNX/AUD, SNX/CAD |
| Celsius (CEL) | CEL | CEL/USD, CEL/EUR, CEL/BTC, CEL/CHF, CEL/AUD, CEL/CAD |
| Compound Dai (CDAI) | CDAI | CDAI/USD, CDAI/EUR, CDAI/BTC, CDAI/CHF, CDAI/AUD, CDAI/CAD |
| Paxos Standard (PAX) | PAX | PAX/USD, PAX/EUR, PAX/BTC, PAX/CHF, PAX/AUD, PAX/CAD |
| TrueUSD (TUSD) | TUSD | TUSD/USD, TUSD/EUR, TUSD/BTC, TUSD/CHF, TUSD/AUD, TUSD/CAD |
| Dai (DAI) | DAI | DAI/USD, DAI/EUR, DAI/BTC, DAI/CHF, DAI/AUD, DAI/CAD |
Supported Countries
Lykke supports a varmet of countries, which you may see in the table below.| Argentina | Australia | Austria |
| Belgium | Brazil | Bulgaria |
| Chile | Colombia | Croatia |
| Cyprus | Czech Republic | Denmark |
| Dominican Republic | Ecuador | Estonia |
| Finland | France | Germany |
| Greece | Hong Kong | Hungary |
| Iceland | India | Indonesia |
| Ireland | Israel | Italy |
| Jamaica | Jordan | Kenya |
| Latvia | Liechtenstein | Lithuania |
| Luxembourg | Malaysia | Malta |
| Mexico | Moldova | Monaco |
| Montenegro | Netherlands | New Caledonia |
| Nigeria | Norway | Oman |
| Panama | Paraguay | Peru |
| Philippines | Poland | Portugal |
| Puerto Rico | Qatar | Romania |
| Russia | Saudi Arabia | Serbia |
| Singapore | Slovakia | Slovenia |
| South Africa | Spain | Sweden |
| Switzerland | Taiwan | Thailand |
| Turkey | Ukraine | United Arab Emirates |
| United Kingdom | Uruguay | Venezuela |
| Vietnam |