London Block Exchange (LBX) ǀ Detailed Introduction

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LBX (London Block Exchange) is a UK based company which permits you to buy BTC and 11 other crypto coins or currencies with GBP (Pound).

But who's London Block Exchange? How does it work? Do they provide competitive rates?

Find out in this SHORTISH LBX (London Block Exchange) review.
Pros and Cons of London Block Exchange
Pros
• United Kingdom (London Base Office)
• BTC and ten others digital money available
• Competitive charges (1 percent above actual BTC to pound exchange cost)
Cons
• Verification needed
• Alternatives with fewer charges available
• Extreme GBP withdrawal charges (2.46 for standard users)
• No desktop-based version of London Block Exchange (but is in development)
• No trust pilots reviews

Who Are LBX (London Block Exchange)?

London Block Exchange was founded Sep 2017 by CEO Benjamin Dives, they obtained 2 Million Pound in funding to Kick start this amazing plan. London Block Exchange supports on-shore UK banking. That means you do not have to FAFF around with SEPA or wire transfers. With the London Block Exchange, you can get deposit asserts wit simple GBP bank shift, they utilize the FPS (Faster Payment Service) too, but usual consumers do not look to get a complete advantage.

Their mission to open the ways for each person to partake in the new emerging financial system. Echoing this, CEO has already stated that they are creating a service where each and every step of the digital money investment journey are seamless and clear-cut. According to their CEO, London Block Exchange amazingly famous among UK digital currency enthusiast. I could not find every stats to back this claim up though.

How Does it Work?

Although it is named London Block Exchange, it does not look like a crypto exchange service (I am waiting for an explanation on this). Crypto coins exchanges are online platforms which match sellers and buyers. They typically let you set market orders (where you just purchase at the present best price) and limit orders (where you set an exact buy-sell price).

Instead, London Block Exchange looks to be acting like a broker. There is a set buy or sell cost and trades execute rapidly. I wish they would make this a bit more clear, I expected to see something like Coin Base before I registered. You will also have to conduct all your deals via their Android app or IOS App. The desktop application is coming soon. Not a fan of trading via apps, so that is fine to hear.
Supported Crypto Assets

London Block Exchange support the following these digital assets:

• BTC
• ETH
• LTC
• XRP
• JNT
• BCH
• ETC
• LTC
• OMG
• SNT
• BAT
• ZRX

London Block Exchange is looking to add further crypto assets as the market develops (but would not say more than that)

Payment ways

London Block Exchange utilize the quick payment service via on on-share Bank account. With this, digital sterling payments should arrive in the destination on a similar day that they are sent. In my experience, GBP sent via the FPS normally arrives within a few minutes. Most banks in the UK contribute in the plan, you can double deck here. When I tested London Block Exchange, my deposit was not credited until the next working day. That is a small disappointing (as it negates the worth of the FPS)

Token details: