LakeBTC was founded in 2013 as a virtual Bitcoin trading platform for capital market traders and financial professionals. These professionals brought with them years of experience trading a wide range of assets including government bonds, corporate bonds, forex, commodities, interest rates, volatility, derivatives, and structured products. LakeBTC focused on the financial attributes of Bitcoin, aiming to build a recognized price discovery platform, providing individuals, merchants, and institutions with a reliable Bitcoin reference price, facilitating trading, hedging, price locking, exposure management, and risk management.

As virtual currencies gained mainstream awareness, LakeBTC has emerged as one of the best Bitcoin trading platforms in the world. While reportedly founded by Chinese individuals, LakeBTCs target market is not China. This is evident in the lack of a Chinese language interface on its official website. LakeBTC is a major Chinese Bitcoin exchange, considered one of the "big four." Integrating Ripple payments, LakeBTC enables customers to bypass delays and avoid international bank transfer fees. The exchange allows trading in four major fiat currencies with minimal transaction fees. These advantages serve as a strong draw for new investors to the platform.

According to a review by CoinCircle editors, the LakeBTC exchange website is currently inaccessible.