| Cryptocurrency exchange | |
|---|---|
| Official website | |
| Social media | |
| Date of foundation | 2017 |
| Head Office | Liikuri tn 8a-50, Lasnamäe linnaosa, Tallinn, Harju maakond, Estonia, 13628 |
| Types of support | |
| Languages | English, French, Chinese, Korean, Russian, etc. |
| Founder | Valentin Preobrazhensky |
| The owner of the company | Valentin Preobrazhensky |
| Manager | Valentin Preobrazhensky |
| Minimum entry amount | Verified Cryptocurrency
Fiat Currency
Unverified Cryptocurrency Unavailable Fiat Currency Unavailable |
| Maximum input amount | Verified Cryptocurrency No limits Fiat Currency
Unverified Cryptocurrency No limits Fiat Currency Unavailable |
| Minimum withdrawal amount | Verified Cryptocurrency
Fiat Currency Unavailable Unverified Cryptocurrency No limits Fiat Currency Unavailable |
| Maximum withdrawal amount | Verified Cryptocurrency
Fiat Currency Unavailable Unverified Cryptocurrency
Fiat Currency Unavailable |
| Exchange Commission | Withdrawal fee: 0.0005 BTC Trade Commission: Until 0.22 % for maker / Until 0.28 % for taker Futures: 0.06 % / Regardless of the trader's position |
| Terminals | TradingView |
| Age restrictions | From 18 years |
| Trading volume per day | 6500 BTC |
| Number of users | 1500000+ |
| Number of cryptocurrencies | 295+ |
| Number of trading instruments | 525+ |
| Margin Trading | No |
| Tokenized assets | No |
| Free Demo Account | No |
| Types of accounts | Spot, Purse, Staking |
| Execution of orders | Limit Orders, Market Execution |
| Methods of replenishment | Bank card (Visa/MC), Cryptocurrencies |
| Withdrawal methods | Bank card (Visa/MC) |
| Account currencies | Cryptocurrencies |
| Types of cryptocurrencies | Bitcoin, Ethereum, Litecoin, Tether, Ripple, XRP, etc. |
| Mobile applications | |
| Trader training | Reference materials, YouTube channel |
| A way to store cryptocurrencies | Cold: yes Hot: yes |
| Fiat accounts | No |
| Scalping | Yes |
| Stop Loss and Take Profit Function | Yes |
| Exchangeability for fiat currencies | No |
| TradingView terminal features | A lot of indicators, graphical elements, depth charts, order glass, etc. |
| Trading Strategies | All strategies for trading in the cryptocurrency markets are allowed |
| Additional features | Airdrop, steaking, free tokens, IEO investments, crowdfunding |
| LATOKEN Earn | Earn interest on cryptocurrency deposits |
| Basic verification | Yes |
| Extended AML verification | KYC (passport, passport or driver's license, photo with document). Proof of address (bank statement, utility bill, etc.) |
| Regulatory laws | International data protection law FATF (Financial Action Task Force) |
| API | |
| Affiliate Program | RegistrationUp to 25% of the commission amount |
| Benefits | Platform for cryptocurrency exchange and listing of new tokens Replenishment with a bank card Large number of cryptocurrencies Fast internal exchanger Investing in IEO and crowdfunding Stacking (max. yield for the year 120%) |
| Disadvantages | Problems with withdrawal and disproportionate deposits (according to online reviews) Weak customer service |
| Company requisites | Legal name: LiquiTrade Limited Legal address: Liikuri tn 8a-50, Lasnamäe linnaosa, Tallinn, Harju maakond, Estonia, 13628 |
| Overall assessment | 7.3/10 |
| Date of update | 21.02.2023 |
LATOKEN is this a scam? Reviews and description
Page content
LATOKEN - it's a fast-growing cryptocurrency exchangewhich has Russian roots. In addition to cryptocurrency exchange services, the company provides a platform for listing new tokens.
By the number of coins available, the crypto exchange is among the top thirty according to CoinMarketCap. But is LATOKEN a scam? Let's find out in the review.
Why LATOKEN?
The spot exchange LATOKEN was launched in 2017. The founder of the company is considered to be financier Valentin Preobrazhensky. He is a former employee of RAO UES, CERA, and a partner of the hedge fund Spectrum. LATOKEN was originally planned to be a platform for trading derivative contracts, with underlying assets in the form of U.S. blue chips. Tokenization of the underlying assets allows to create pools of small investors, whose earnings depend on quotations.
But with time, this idea had to be abandoned - working with American and European stocks is too regulated and requires huge investments. Then the founder of LATOKEN switched his attention to the growing popularity of the cryptocurrency market. The platform focused on ICOs - initial public offerings of tokens. This procedure allows startups to raise money from private investors by offering them their own token in return. In doing so, the token may not be legally tied to the startup. This disadvantage has spawned a lot of fraudulent projects, which has reduced the popularity of ICOs.
As a result, in order to maintain its own balance sheet, LATOKEN turned into a full-fledged cryptocurrency exchange, earning commissions from traders. At the same time, the project team still entered the B2B sector and offered startups to collect investments on the exchange by listing tokens. As a result, the set of products on the LATOKEN platform is as follows:
- Cryptocurrency exchange. Buying and exchanging Bitcoins and altcoins. Both well-known coins and new tokens that have partnered with the site are listed.
- DeFi. Despite the name, this product is not decentralized at all. In fact, it is a classic staking, where users deposit funds to Latoken, receiving a percentage of return in return. The company does not disclose what it uses to cover deposit liabilities.
- Crowdfunding. Here, exchange customers can invest money in proposed startups, receiving project tokens in exchange. This is a simplified variation of an ICO, but all processes take place within LATOKEN. The startups receive Verification Score. This score is set by the exchange itself. The scoring criteria are not disclosed. At the same time, it is possible to buy the tokens offered in just two clicks, using a credit card.
The crowdfunding section is the main feature that distinguishes Latoken from other platforms. And perhaps the biggest source of income - the platform takes a commission from all the projects placed in the section. At the same time, the startups themselves are represented rather modestly. To get five Verification Score points, it is enough to place a video with the essence of the project, information about the founders, some description and a table with the distribution of tokens. On the pages of the section you can find a disclaimer confirming that LATOKEN does not give any investment, legal or financial guarantees or advice. The information about the startups on the site is provided by the startups themselves and is not verified by LATOKEN. The exchange declares its mission to connect entrepreneurs and investors.
How to exchange cryptocurrency on the Latoken platform?
Cryptocurrency exchange takes place in the Exchange section of the website latoken.com. After opening it, the trader will see the price chart in the center. On the left side, one can select the crypto-asset of interest. On the right side there are price stacks, a form with orders to exchange coins and a log of transactions on the site. The order form is arranged as two tabs - Buy and Sell. A little more to the right there is a price switch - Limit or Market. Having chosen the necessary trading pair on the right, the trader should fill in the order to sell or buy coins:
- If the Limit checkbox is selected, then in the Price field you will need to specify your own price for the deal. It can be chosen from the cup. In the Amount field, enter the desired number of coins to buy. You can also use the switch with the percentage, to enter from 25 to 100% of your deposit into the order at once. Having specified the parameters of the transaction, it is enough to click the Buy button if you buy, or Sell if you sell. The order will be sent to the exchange. As soon as a counter offer is found at the price specified by the trader, the deal will be executed.
- If you select the Market checkbox, the price will be indicated automatically - at the most liquid value from the cup. Thus, the system makes the fastest purchase. In the form you need to enter only the number of coins to buy, in the Amount column. You can also use the toggle percentage with a fraction of the deposit. Click Buy or Sell to send the order to trade.
The purchased cryptocurrency will be automatically credited to the wallet balance inside the exchange. To see the current balance and transaction history, go to the Wallet section. It is available from the main menu of the site. For active traders who need information, the exchange has a Terminal section. This is a multifunctional screen on which widgets from the list can be displayed. For example, to view charts or track trading volumes. Here you can also add an Exchange widget to quickly exchange cryptocurrencies (How to Make Money on Cryptocurrency?).
Verification on latoken.com platform
Immediately after registering on the site latoken.comby confirming the e-mail address, the user receives 1 digit of verification. This limits it to the amount of a thousand dollars. To be able to deposit in fiat currencies as well as invest in IEO, clients need to verify their identity to level 2.
You can do this in the Profile section. You need to click on the "Apply to Tier 2 Now" button. You will need to fill out the questionnaire:
- On the first page of the form, you must enter your full name, date of birth, country of citizenship and sex.
- The second step is confirmation of residency. That is, the place of residence. You need to select the country, indicate the region, city and postal code. Write the address in the Latin alphabet. If the user does not live where he/she is registered, he/she should put a checkmark in the Not same as residential and specify the second place of residence.
- On the third page, the system will ask you to upload two files. The first is a selfie of the client, and in his hands is the document used for verification. The second file is a color scan of the document itself. Below there is a form. You need to enter the data from the uploaded passport, driver's license or ID-card into it.
Please note that all data must be entered on the form in the Latin alphabet. And do it the way it is written in the documents. It is not necessary to indicate the abbreviated form of your name. Use documents in English for downloading. The support service states that the verification of identity will take no more than a day.
Deposit and withdrawal
Depending on whether or not the client has undergone the verification procedure, it is possible to deposit money using a credit card. If yes, you can deposit money with a credit card. If not, only cryptocurrency deposits from third-party wallets are available. To deposit money in cryptocurrency, you have to click on the green Deposit button in the site's header latoken.com. A small form will appear where the address of the cryptocurrency wallet created for you will be shown. The desired cryptocurrency can be selected from the drop-down list. Copy the offered address and use it to send funds from a third-party wallet. You can also scan the QR code if you use mobile vaults.
Customers who have confirmed their identity can buy cryptocurrency for fiat money from their bank card. A special Buy button also appears in the Deposit menu. In the drop-down list it is necessary to select the fiat currency for purchase. There are many options, and the Russian ruble is also available. In the right list, specify the desired cryptocurrency. Now it remains only to enter the amount in fiat currency and click on Buy. Enter your bank card information in the payment gateway that opens. Only some supported coins can be bought this way:
- BTC.
- ETH.
- LTC.
- TRX.
- ATOM.
- XRP.
You can withdraw assets through the Wallet menu. A list of all cryptocurrencies traded on LATOKEN is available here. Select the desired one and click on Send, to the right of the coin name. Customers need to go through security measures that require confirmation from a mobile device. This can be an SMS to the phone number or 2FA with Google Auth. After confirmation, you need to fill out a withdrawal order. Specify the wallet where the exchange should send the coins, the amount of cryptocurrency and click on Send.
Commission of the crypto exchange latoken.com
Starting commissions for new clients on Latoken are higher than the market average - 0.22% maker and 0.28% taker. This is the rate paid by all clients whose monthly volume is less than $10,000. Beyond this mark, the discounts begin.
How do I get a commission discount?
To reduce commission costs, traders will need to increase the volume of trades. If the volume of transactions for the last 30 days exceeds $10,000, but does not exceed $50,000, the commission rates are 0.19% maker and 0.25% taker.
- From 50,000 to 100,000: 0.17% to 0.22%.
- From 100,000 to 250,000: 0.12% to 0.15%.
- 250 thousand to 1 million: 0.07% to 0.11%.
- 1 million to 2,500,000: 0.06% to 0.09%.
- 2.5 million to 10,000,000: 0.04% to 0.07%.
- 10 million to 20,000,000: 0.02% to 0.05%.
- 20 million and above: 0% - 0.04%.
The volume is calculated in the equivalent of stabelcoin USDT. The last 30 days at the time of the transaction are taken into account. The commission on futures trading is 0.06% regardless of the trader's position.
Withdrawal fees
Most cryptocurrency exchanges do not charge customers for depositing in cryptocurrency. LATOKEN is an exception, because here users have to pay 1% of the deposit amount in any cryptocurrency, except USDT.
Tether is not covered by a fee; deposits in this stack are free. Bitcoin withdrawal fee is 0.0005 BTC. In Ethereum it is 0.01 ETH. These are average values for the market. But the withdrawal of other altcoins is much more expensive than competitors. Tether (ERC20) is covered by payment of 13.5 USDT, Gemini Dollar - 27 GUSD, Tezos - 1 XTZ, Bitcoin Cash - 0.01 BCH, Litecoin - 0.03 LTC, Dogecoin - 100 DOGE. For comparison, by withdrawing Dogecoin from Kraken, traders pay only 2 DOGE.
Latoken bonuses
LATOKEN does not use bonuses to attract customers. Instead, to boost activity among users, the company regularly runs contests among traders and organizes token giveaways.
Trading contests
Traders' contests may have different rules. But the basic conditions are the same: you need to buy the minimum amount of tokens offered and create the highest volume of transactions on that cryptocurrency during the contest period. Most often, such contests are launched to support the listing of a new coin. For an example, let's take a look at the contest rules with the Cryptotipsfr project and its CRTS token. Traders must place at least 300 CRTS in their LATOKEN account. Then, while the contest lasts, participants conduct trades in pairs with this coin. At the end of the contest, the ten traders who generated the highest volume receive 3,000 CRTS as a reward. These tokens can be exchanged for other cryptocurrency and withdrawn from the exchange.
Airdrop
Airdrop is the distribution of project tokens before listing or immediately after placement on trading platforms. For any crypto startup, it is important to gather the first audience as quickly as possible. If you give out some tokens to people, they will be interested in further promoting the product and, as a result, token price growth. Airdrop is a good way to get free coins during IEO. But in order to get them on their balance, participants need to perform tasks. For example, subscribe to the project's official Twitter, lead three users via a referral link, comment on videos on the project's official channel, or actively participate in the Telegram chat. Latoken regularly hosts airdrops of new cryptocurrency projects. Rewards for participation are usually credited to the user's balance on the exchange as soon as he or she completes the tasks.
Referral program
LATOKEN has launched its own affiliate program. Clients can receive bonuses if they invite their friends to the platform. The program is available on the site of the exchange, in the Earn Money section. "Referral" is arranged on the principle of kickback. That is, the bonus is received as the invited user, and the client brought. The size of the bonus - $50. They will be transferred to customers in the form of return 25% commissions. If you use the referral program competently together with the system of discounts for the monthly volume of transactions, you can save on commissions.
Complaints about LATOKEN
There are different reviews on the work of Latoken exchange, including negative ones. Many such projects receive bad ratings for technical deficiencies, this is a common situation in cryptocurrency trading. And yet, the company has a good experience, works on the safety of the project, responds to customer feedback, does everything to improve the service. Users praise quick withdrawal, comfortable commissions, market quotes, availability of different currencies, prompt support, etc.
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Crypto exchange regulation
The management company of the LATOKEN project is called Payex OÜ and is registered in Estonia. It, in turn, belongs to LiquiTrade Limited, registered in the Cayman Islands. Physically, the head office is in Moscow. This is evidenced by at least a list of vacancies from the company - all employees are invited to the capital. But internationally, Latoken is considered an Estonian legal entity. Estonia is known for its lenient legislation regarding cryptocurrency projects. The vast majority of European ICOs and exchanges are registered there.
Accordingly, the company is obliged to comply with Estonian law. This also includes all financial supranational bills implemented in the European Union. Latoken is obliged to comply with regulations and comply with rules against money laundering, tax evasion. The exchange has the right to block transactions and freeze accounts that it considers suspicious. LATOKEN does not work with U.S. residents in order not to fall under the extraterritorial U.S. laws.
Latoken.com User Agreement
The user agreement is posted on the company's official website. The agreement states that the company provides a platform for the exchange of digital assets. Users accept the internal rules of the platform by opening an account here. In case of disputes, the company has every right to refer to its own rules as stated in the agreement.
Customers agree to the possible risks associated with cryptocurrency trading and investing in tokens. Users make any deposit or withdrawal of digital assets on their own. The exchange is not responsible if the client incorrectly entered the wallet address and sent cryptocurrency to the wrong place. Starting to work with the platform, clients undertake to comply not only with the internal rules of the exchange, but also with the laws of their country of residence. They must calculate and fulfill their own tax obligations.
Customer Service
On the site latoken.com chat with the support service is available. It is possible to communicate both in English and in Russian. The response rate is high, but most often users are sent to study the help center. The help center is voluminous, revealing most potential problems. If there are problems, it is better to write to chat or e-mail:
- For information: [email protected]
- For business proposals: [email protected]
Of the social networks, we can highlight the official Twitter of the company. There is the most activity there.
Is LATOKEN a Scam?
The number of clients of the company, as well as the huge volume of trades indicate good work LATOKEN. Here you can not only engage in trading and quickly withdraw earnings, but also invest money in new startups, receiving their tokens in return. The exchange team is actively working on the convenience of the service and its security. Note the fast withdrawal, the ability to invest in startups with a card, support for fiat currencies, and a referral program. Expect users and bonuses: for example, discounts on commissions, contests, free token giveaways, etc. In any case, working with the exchange is both interesting and profitable.
Conclusion
Latoken stands out from other cryptocurrency exchanges by offering investments in startups and IEOs. This area of capital investment itself is associated with a lot of risk. A platform offering partnerships in this industry should have a solid reputation. But LATOKEN gets too much negativity, even compared to exchanges with a client base of 15 - 20 million people.
The company earns by providing liquidity for new tokens. Users, on the other hand, get the opportunity to invest in cheap assets with growth potential. This level of risk is suitable only for experienced traders who know how to distinguish quality projects from fraudulent ones. Beginners are better off bypassing LATOKEN and choosing more reputable platforms for trading and buying cryptocurrencies.
Reviews
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Rate your review 000As for me, the project is promising
As for me, the project is promising, a lot of new things have been added to LATOKEN lately. Since the beginning of the year they’ve added about 100 new cryptocurrencies and regularly list new coins. I participate periodically in trading competitions, it’s not so often met in other places, but here it’s… Read more
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Rate your review 000A friend brought me to LATOKEN and...
A friend brought me to LATOKEN and I registered using his referral link. For this, both received a $50 bonus. I am a new trader, I like the clear interface, VCTV, which often broadcasts with experts, and frequent airdrops. I am now trying to learn a lot of trading material and improve my skills.
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Rate your review 000Low commission, fast and safe withdrawal of...
Low commission, fast and safe withdrawal of fiat to the card, reliable system operation, good trading opportunities, these are the main pluses of LATOKEN for me. There are a lot of rare trading pairs and new tokens, so in theory you can pick up a nice bounty.
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Rate your review 000Comfortable crypto exchange, which opened for me...
Comfortable crypto exchange, which opened for me new opportunities in trading. Here I started to get interested in steaking, it seems to me the topic is promising. And also I often watch VCTV, you can get a lot of interesting things.
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Rate your review 000I've only been trading with them for...
I’ve only been trading with them for a couple of months. But so far I haven’t noticed any special faults. Everything seems to be clear. The site opens quickly, there are no delays in deposit and withdrawal of funds, and the opening of transactions is almost instantaneous. In addition, the trading platform… Read more
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Rate your review 000A good platform for trading, a lot...
A good platform for trading, a lot of trading pairs, and new ones are added every week. Very convenient that when withdrawing funds I can withdraw them both in rubles and in dollars straight to my card. The commission for transactions is minimal. I have no questions about the mobile app, especially if… Read more
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Rate your review 000A big plus LATOKEN for the fact...
A big plus LATOKEN for the fact that the exchange suited professionals, and beginners who are just learning and making their first steps. It has all the necessary tools. For a long time I just traded, but for the last month I understand my trading, and I’m thinking about investing in one Alta for a year… Read more
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Rate your review 000The good thing about Latoken is that...
The good thing about Latoken is that it is set up for the liquidity of new crypto. New coins appear regularly, and they can be safely traded. There were almost no problems technically. Once the deposit was not credited, with the support quickly closed the issue. Registration is simple, you can trade… Read more
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Rate your review 000This is a very convenient exchange. I...
This is a very convenient exchange. I trade here recently, but overall I’m very satisfied: USDT commission now is about 3.5, if you withdraw large sums, commission will not increase. Pretty fast exchange and withdrawal to card, tech support is always answering if you need help.
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Rate your review 0-21I just registered there based on your...
I just registered there based on your reviews. I estimate my knowledge of crypto and exchanges below the plinth, we will figure it out together with a tutor. Now it is very difficult, I do not understand what and how it works! According to him, everything is simple.
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Rate your review 000I tried several crypto exchanges (binans, blockchain)
I tried several crypto exchanges (binans, blockchain). All had their pros and cons. Most of all now I trade on LATOCEN. Nice Russian interface, user-friendly menu, high-quality platform. A lot of tools plus advanced trading opportunities. The choice of crypto is more than impressive, every week they… Read more
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Rate your review 000At first I opened an account on...
At first I opened an account on Latoken for testing, made a relatively small deposit, because I was not verified. After a few days of trading, I realized that the exchange meets my requirements for normal trading. For example: Density in betting market is adequate, the correlation with other exchanges… Read more
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Rate your review 000
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Rate your review 000It became much more convenient for me...
It became much more convenient for me to use the exchange after the Russian-language application was introduced, because most of the time I hang out there from my tablet. The functionality of the app does not differ much from the basic version, but it is better to use the full version for more detailed… Read more
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Rate your review 0+10I started my way in crypto trading...
I started my way in crypto trading with Latoken crypto exchange. Then I decided to try other platforms. I traded on many of them. But in the end I came back here again. Personally, for me, this is the most convenient platform. First of all, thanks to the clear interface. Plus, everything is in Russian… Read more
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Rate your review 000Registered with Latoken about 3 months ago
Registered with Latoken about 3 months ago, so far so good. I have been trading pairs enough, I don’t use all the variety, I have settled on the instruments that suit me. I withdraw my profit once a month in dollars to my Visa card, withdrawal is processed without any problems, no delays. I do not hesitate… Read more
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Rate your review 000I trade on Latoken not so long...
I trade on Latoken not so long ago, but in this time I have already managed to assess the exchange. The menu and interface are well thought out, everything is done to simplify trading. This is especially appreciated by newcomers. The functionality is also good. I’m not only trading, but also staking… Read more
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