Tokok is this a scam? Review and Customers Reviews

Tokok is an exchange for trading in cryptocurrency, which appeared in the financial market in 2018. The service is gradually gaining popularity among users around the world.

In our review, we will take a closer look at the opportunities implemented by the project, and find out whether Tokok is a swindle and fraudsters or a reliable cryptocurrency exchange.

Why Tokok?

Tokok is a young cryptocurrency exchange that appeared on the Internet less than a year ago (how to earn on cryptocurrency?). The interface of the official website tokok.com has been translated into English and Chinese, which indicates a focus on the international market. The company’s head office is registered in the Virgin Islands, from where the project is regulated.

It is known that the company’s team includes professional managers who have created a trading system using modern technologies, reliable asset management and practical services. The platform provides users with an opportunity to trade more than 20 popular cryptocurrencies, the list of which includes BTC, ETH, ETC, EOS, NEO, XRP and others. The company also has its own token called TOK, which is a decentralized digital asset of a chain of blocks based on Ethereum and standard token ERC20 based on a chain of blocks Ethernet. The token performs the following functions:

• payment minus trades – reduction of transaction fee by 50%;
• deflation – 30% TOK obtained from transaction fees are burned until there are 100 million left. The process takes place on a quarterly basis;
• dividend from commission – 70% of the TOK fee is evenly distributed as a dividend;
• distribution of profits – 25%, which is received by the platform, is distributed to each TOK on the platform;
• airdrop – some tokens are distributed as a reward;
• TOK trading pairs – TOK can be exchanged for all tokens listed on the company’s website;
• special opportunities – owners of tokens receive special privileges.

The trading platform itself has a simple and clear interface. However, experienced traders can quickly understand the basic functionality of the platform, spending 15-20 minutes after registration. It will be harder for new users, as there are no training materials on the site, except for the section in the answers to the most popular questions. The following functionality can be found in the trading section:

• the bidding for the last 24 hours;
• charts;
• a glass of orders;
• basic indicators;
• order history.

A mobile application has been created to allow users to access their account at any time. Thus, the client can trade 24/7. Both iOS and Android versions are available.

Among the main advantages of the platform can be highlighted:

• low trade commissions;
• own token;
• security;
• multicurrency;
• mobile application availability;
• 24-hour technical support;
• user friendly interface.

How to exchange cryptocurrency on the platform tokok.com?

In order to execute the cryptocurrency exchange, you need to go to the «Exchange» section and follow a few simple steps:

• select a crypt currency pair to exchange in the top corner of the page;
• see the course and history of the trading pair in the course chart;
• open an order and fill in the data (price, number of coins);
• click on the button to buy or sell, depending on your needs.

Verification on Tokok platform

Verification is a mandatory process that will protect your account from hacking. To pass the verification of identity, you need to go to your profile and click «Real-name Authentication».

Next, the user must fill in the following personal information:

• choose a country of residence;
• enter their first and last name;
• select gender;
• enter your passport number.

After filling in the data, it is necessary to start downloading scans and documents:

• passport cover scan;
• first page of passport;
• selfies with passport.

You should hold your passport on the photo, as well as a piece of paper with the name of the exchange and the current date of verification. Then you should click on the «Send» button and wait for the data verification. Verification can take from several days to several weeks.

In order to secure your profile more, it is recommended to configure two-factor authentication from Google, which is the best way to protect your account from hacking.

Deposit and withdrawal

Replenishment and withdrawal is quiet an easy process. You need to do a few simple steps to deposit money:

• put the cursor over the caption «Funds Manage» and select a value «Deposit Tokens»;
• select the desired currency type to enter and click on it;
• copy a digital wallet address or read a QR code;
• insert the address into the field «Recipient address» where the transfer will be made from.

Withdrawal

It should be noted that the withdrawal of earnings is available only after the verification and configuration of Payments Settings. For withdrawal it is necessary:

• to click on «Withdraw tokens».
• select the desired currency for withdrawal;
• click on «Add new address» or choose from the ones added;
• specify the address of the wallet to which the transfer will be made;
• indicate the amount of coins and click on the button «Submit».

Cryptoexchange commission

There are two types of commission at the exchange tokok.com – trading one and another for withdrawal of earnings.

Trading commission

The company charges users a fixed fee. This means that for makers and takers the commission is the same – 0.20% per transaction. For those users who own exchange tokens, they can reduce the commission to 50%, which is equal to 0.10%.

Withdrawal commission

The company does not charge a commission for replenishment of the balance, but there are fees for withdrawal of earnings. Withdrawal fee is fixed and depends on the type of cryptocurrency. For example, the commission for VTS is 0.0005 VTS.

Tokok bonuses

At the moment the only bonus for clients is provided – welcome bonus. Thus, by registering on Tokok.com users can get 1 VTS on their trading account. The funds cannot be withdrawn, only used for trading.

Referral program

An affiliate program has been developed for active users who want to earn extra income. Thus, clients can invite new participants to the project using their referral link and receive up to 33% of the commission amount.

The site also contains information that at the initial stage the referral link receives 20% of the commission amount, but if the balance of TOK on the client’s purse exceeds 100 000, the commission percentage increases from 20% to 33%.

Complaints against Tokok

Since the project appeared less than a year ago, you can find some feedback from clients on the Internet. In general, the company has a good reputation, but there are also negative comments. Among the advantages traders note a simple and clear trading platform, the presence of tokens and low commissions. Among the disadvantages mentioned are the absence of fiats and mandatory verification.

Токок cryptoexchange regulation

Among the crypt currency exchanges there is a large number of reliable projects, as well as many fraudsters who cheat users. To protect yourself from lootrons, you need to independently check the availability of a license, as well as relevant documentation on the official website of the company. Let’s consider in more details how the project is regulated.

Regulator of tokok.com

There is no any information on company regulation on the website. It’s known that the platform belongs to Kindly Keep Network Technology Limited and is registered under the number 1967379. The official documentation of the project, as well as contact details are publicly available to users.

Read «Rules of service» on Tokok exchange website

Terms and conditions

«Terms and conditions» is the main document of the project, which every client should read before starting registration. It contains the trading rules, as well as the responsibilities of the organizers and users. Like the site itself, the document is presented in English. Let us consider some points in more detail. The agreement contains the information that the organizer provides the user with an online platform for making transactions in crypto currencies and does not participate as a buyer or seller in any transactions.

The user is entitled to accept the service provided by the site in accordance with these terms of service.

The Company has the right to refuse to register a user and has the right to revoke the user’s Member ID if such user is not qualified under the registration agreement and has the right to claim damages for losses incurred by the site in relation to users or their legal representatives. At the same time, the organizer reserves the right to determine whether to accept user registration under any other circumstances.

The organizer reserves the right to change, suspend or terminate the site services at any time, and also has the right to change or suspend services without prior notice to users. Termination shall take effect from the date of publication. A notice will be placed on the site if the service terminates one or more of its services.

It also should be noted that the company has the right to delete a user account if the customer has not logged in to his account during the year. After deleting the account, the organizer has the right to allow other registered users to use the corresponding member ID.

Whatever the circumstances, the company is not liable for the following reasons:

• maintenance of information network equipment, failure of network connection, computer, communication, other systems and power supply;
• strikes, labor disputes, uprisings, riots, insufficient productivity or productive resources, fire, flood, storm, explosion, war, government behavior, judicial administrative order;
• force majeure, conduct of a third party;
• impossibility or delay in service that the current technology of the service can not prevent and losses incurred by the user from the above-mentioned circumstances.

Modification of the agreement: the site has the right to change the content of the terms of service or other terms of service and rules published by the site at any time, which will be published on the site. The change is valid from the date the statement is issued. If the user continues to use the service provided by the site, he/she is deemed to have accepted the change. Otherwise, the user has the right to cancel the account and stop using the service.

Client must understand and accept the fact that there are high risks in transactions with cryptocurrencies. The market for cryptocurrencies is completely new and unrecognized and may not increase or decrease. Currently, cryptocurrencies are mostly and actively used by speculators, but are relatively less commonly used in the retail and commercial sectors. Thus, the price of cryptocurrencies fluctuates easily and then has a negative impact on investment in cryptocurrencies.

A company or user in breach of this contract is in breach of the agreement. The breaching party must accept liability to the other party that is complying with the contract. In the event that the platform suffers losses due to incorrect, incomplete or inaccurate information provided by the user, the user undertakes to reimburse the company for any loss incurred.

Tokok customer support

You can contact the support team by:

• email: [email protected];
• online chat;
• feedback forms.

On the website you can also find a section with answers to the most popular questions.

Is Tokok a scam?

Tokok is a young exchange for trading crypt currency, which appeared in 2018. The company is focused on the international market, as evidenced by the project interface, translated into English and Chinese. Its headquarters are located in the Virgin Islands, from where the company’s activities are regulated.

The platform team consists of professional managers who try to provide comfortable conditions for trading. More than 20 popular cryptocurrencies are presented for traders’ attention. The service also has its own token, the owners of which have special advantages at the exchange. Active users have the opportunity to receive passive income by attracting new users to the project. Thus, customers can receive from 20% to 33% of the commission amount. A mobile application was developed to provide traders with constant access to the trading platform. There are the versions available both for Android and iOS systems.

The organization appeared on the financial market less than a year ago, so at the moment there are some feedback from clients. In general, the company has a good reputation among traders, although there are some negative comments. Having analyzed the opportunities provided by the platform, can we say that Tokok is a swindle and fraudsters? No, as the project successfully functions in the market and provides its services to users.

Summary

Tokok is a project which appeared on the Internet less than one year ago. At present the company is not very popular, but continues to develop actively. The service is focused on the international market, as evidenced by the interface of the official site. The organization tries to provide traders with the most comfortable and favorable conditions for cooperation. However, many novice traders do not soberly assess their capabilities, as well as possible risks of trade. That is why you should carefully read the relevant documentation on the site before starting registration.

At the moment the project looks good among competitors, although there are still some shortcomings. If you have been or are a client – leave your impressions of the company’s work on our site to form an independent rating of crypt currency exchanges.