LATOKEN Review [The Ultimate Guide 2022]

Undoubtedly, cryptocurrency traders are faced with the problem of selecting an exchange from among the many available.

CoinStats has a regular review of leading trading platforms in order to assist you in choosing the right platform for you. BinanceCoinbase or Kraken, and smaller platforms such as the LATOKEN Exchange. This article outlines their benefits and disadvantages.

LATOKEN was an Estonian cryptocurrency trading platform that was launched in 2017. This exchange offers a variety of investment opportunities for investing in, crowdfunding and staking digital assets. DeFi coins. LATOKEN offers fast transactions, NFT and stock market to help diversify your portfolio.

Our LATOKEN exchange review will take you through one of the most popular decentralized crypto exchanges, discuss the LATOKEN platform’s services and products, pros and cons, trading fees, security, etc., and demonstrate how to start trading on the platform to maximize profits.

Let’s get right to it!

LATOKEN Pros & Cons

Our LATOKEN review has looked into some of the exchange’s pros and cons described below.

LATOKEN Pros

• Wide range of supported coins and trading pairs

LATOKEN accepts a variety of crypto currencies and trading pairs. It offers many altcoins in addition to the most popular ones, such as HCS/USDT and BIOFI/USDT.

LATOKEN has a wide range of innovative and interesting projects on its platform. They also invest a lot in diligence to make sure that you are paying attention.

The platform has a user-friendly interface that’s intuitive and easy to navigate.

Two-factor authentication is used by the LATOKEN platform. SMS verification protects user funds. LATOKEN employs a four-layer transaction security system to ensure there are no leaked funds. Additionally, Latoken claims it stores around 99.5% of crypto assets in cold storage – adding another layer of protection.

With a $242 million monthly turnover (Feb 2022) and the ambition to list new and promising projects, the LATOKEN crypto exchange is ideal if you’re looking to list your tokens.

Notice: Many scammers claim to represent LATOKEN listing executives. It is better to speak with the company than to an imposter.

LATOKEN is an easy to use app that allows you trade anywhere, on any device.

A LATOKEN account gives you access to special referral programs and a link. You and the invitee will both receive credit if they sign up through your link, verify their email and get cashback for a portion of your LATOKEN fees.

LATOKEN Cons

LATOKEN’s trading volumes are significantly lower than other crypto exchanges, posing issues when you try to remove certain assets quickly.

The LATOKEN exchange has no demo account, so novices can’t test the platform with fake money before moving to real assets. The platform doesn’t provide any notable tutorials or a help center to answer your questions or help you if you get stuck.

• Nonsupportive customer support

LATOKEN’s crypto exchange has received negative customer reviews due to its inefficient and slow service. LATOKEN customer reviews complain about long wait times to get help from the support team. You can contact the customer service team only via ticket or email. However, live chat is unavailable.

• No LeverageLATOKEN doesn’t offer margin or leverage trading. It is possible that the LATOKENplatform will add margin trading in due course.

While LATOKEN is officially an Estonian company registered in the Cayman Islands, some experts claim it’s just a cover for a Russian organization.

LATOKEN has high trade commissions. While both takers as well as makers will pay 0.499% for each trade, most top platforms have trading fees below 0.2%.

LATOKEN is a more diverse exchange than others, but the site also lacks popular coins like Ripple or Bitcoin Cash.

LATOKEN: What is it?

LATOKEN was a new digital asset exchange that launched in December 2017 and offers a platform to trade cryptocurrencies as well as tokenized assets. You will find a variety of lesser-known cryptos as well as a user-friendly UI, strong security, fast transactions and a mobile app. NFT markets allow tokenized real assets to be traded on the platform, which makes it stand out from many other exchanges.

LATOKEN uses DAG technology (directed-acyclic graph), to allow high transaction volumes and speed without any delays. 

LA is the exchange’s token. It serves as its base currency. LA token is used to pay trading fees and is an exchange pair for all the platforms’ currencies. Users receive a discount of 50% on all trading that is done with this token. It can be used to trade tokenized shares from Apple, Google, Tesla and other companies, as well as gold, oil and real estate ETFs.

LATOKEN is convinced that LA can be used for tokenizing real-world assets.

LATOKEN is a good platform for diversifying your holdings. However, there are some issues such as high fees and no fiat support.

Most LATOKEN reviews have complained about issues with withdrawing or depositing funds, and a LATOKEN ex-employee has accused the company of listing scam coins through the company’s Twitter account.

LATOKEN Company Overview

LATOKEN, a company, is located in Tallinn (Estonia), but it’s registered in Cayman Islands under LiquiTrade Limited. Some publications are not available. Submit a claimLATOKEN can be described as a Russian stock exchange.

LATOKEN Supported Countries

LATOKEN is available in many different countries, and has more than 200,000 registered users. The majority of LATOKEN users come from Australia, China, India, and Switzerland.

You can choose from English, Mandarin Spanish or French as well as Indian, French, Spanish and Korean languages.

Several countries aren’t supported by the platform, including USA, Bosnia And Herzegovina, Syria, North Korea, Sri Lanka, Tunisia, Uganda, Iran, Pakistan, Iraq, Ethiopia, Trinidad and Tobago, and Yemen.

Latoken Regulation

According to the LATOKEN team, the platform follows AML regulations by requiring active traders to perform KYC checks and doesn’t operate in countries with strict cryptocurrency regulations, including the US.

LATOKEN has its fair share of controversy like some other exchanges, with a few Latoken scam accusations, which ultimately weren’t proven.

LATOKEN Founders

Valentin Preobrazhenskiy is a well-respected stakeholder in crypto. He founded and serves as CEO at LATOKEN.

Preobrazhenskiy is also a veteran of several other projects, and has significant financial experience. He completed internships at Vneshekonombank and Sberbank before becoming a chief specialist for RAO UES (Russian Electric Power Holding).

Preobrazhenskiy switched to investment banking. In CERA, he was Senior Associate and in Spectrum Partners as Director Research. Spectrum Partners is one of the most prominent regional hedge fund managers. Avega Capital, which he also started, is his fund.

Preobrazhenskiy, who created Zalogo (a platform that connects borrowers to mortgage lenders) in 2014. He sold the company afterward.

In 2017, Mr. Preobrazhenskiy created LATOKEN, often linked to Russia due to the founder’s nationality and notable Russian-speaking team. Preobrazhenskiy also managed the Founders Institute’s Russian Chapter.

LATOKEN is the principal sponsor of the series of seminars called the Blockchain Economic Forum.

LATOKEN Products and Services

LATOKEN is a cryptocurrency exchange that offers some extra features.

IEO campaigns

LATOKEN allows you to create IEO (initial Exchange Offering) campaigns. On the LATOKEN website, under the exchange tab, there’s a section where you can set up crowdfunding projects. You must first contact the company to set up a campaign. A campaign can be started only if IEO platforms approves.

LA Trading

It can be used to transact on many platforms and for trading with many coins listed on the LATOKEN Exchange.

VCTV

Users get access to VCTV, the site’s video portal., where they can learn more about various crypto teams, watch some trend analyses, or learn to raise capital for early-stage startups.

You can find more details about previous events in the Past Tab.

LATOKEN Supported Currencies

LATOKEN has over 60 supported digital currencies, 145 trading pairs and supports IEOs.

This platform allows you to trade the major currencies Ethereum (ETH), Bitcoin, Tether (USDT), or other altcoins such as Stellar, Basic Attention Token and others.

The LA native token is very popular among traders. You can even pair it with other digital currencies.

You can’t use the platform to deposit fiat money, as LATOKEN is a crypto-to-crypto exchange that doesn’t support fiat-to-crypto trading. Additionally, LATOKEN exchange doesn’t support PayPal or a wire transfer. But, digital currencies can be deposited directly through a crypto wallet. You also have the option to purchase the featured coins from this website.

Crypto Types

LATOKEN offers several noteworthy trading categories like “VC-backed” coins, i.e., a list of cryptos that a venture fund has allegedly backed.

You can also choose DeFi or CeFi as well as Infrastructure and other filters that may help you to find coins you want to invest.

LATOKEN Fee Structure

Trading fees and deposit fees are charged by cryptocurrency exchanges. Withdrawal fees can also be added.

Like most crypto exchanges, LATOKEN doesn’t charge any fee for deposits.

LATOKEN trade fees may be slightly higher than other platforms. Latoken, for example, charges 0.4% to takers, makers and makers, while other platforms only charge 0.2%. Binance costs 0.1%.

It’s worth mentioning that the platform provides several ways to reduce these fees. You get 74% off if you pay commissions using LA tokens. You can also reduce your fees by trading more.

The industry’s highest withdrawal fees vary from one currency to the next.

LATOKEN also allows you trade perpetual futures. Futures markets allow you to trade contracts which agree to purchase or sell cryptocurrency at a particular price. LATOKEN Perpetual futures trading fees is among the most affordable.

LATOKEN Controversy

Without mentioning the below negative LATOKEN reviews, this LATOKEN review wouldn’t be complete.

Problems with Withdrawals and Deposits

LATOKEN customers frequently complain of having trouble withdrawing funds or depositing them.

The exchange closes many of its crypto currencies for withdrawals, often without informing users.

Additionally, users deposit money, but it doesn’t show up in the balance. Google Play feedback has many users complaining about their deposits not appearing in the balance. LATOKEN sets a minimum amount of deposit required for each currency. Your money is forfeited if it’s less than required and will not be refunded.

It’s difficult to say if these issues result from the poor state of the exchange’s tech or if they have other reasons.

Fraud Allegations

You may see LATOKEN users posting negative reviews or tweets about the company. They claim that it is scammy and rips off customers. Users claim that when they sell cryptocurrencies, they get only half or even a quarter of the value they were supposed to get and cannotcontact the company’s customer support for that reason.

LATOKEN Reviews mention that their cryptocurrency disappeared because the assets were removed from the site. Others suspect false liquidity.

LATOKEN: How to Buy Crypto

Take a look at our guide to buying digital assets via LATOKEN.

Step 1: Register

It is simple to sign up on LATOKEN. You have two options: you can sign up using a Google account, or by creating one via email.

1. Enter email & password;
2. Check your email and enter the code.

These steps will grant you a Tier 0 bank account. It comes with a 1,000 USD/24h withdrawal limit and access to token sales.

To get higher limits and access the full scale of LATOKEN products and services, you must provide personal information and verify your identity with an ID or driver’s license.

The Latoken website has more information about the Tiers and KYC process.

Step 2: Deposit the funds

Now you must fund your LATOKEN Account.

On the platform, you can buy major cryptocurrencies, such as USDT and ETH.

Alternately, you may transfer crypto coins from another exchange or wallet. LATOKEN has no fees for deposits, however the minimum deposit required is 0.0005 BTC.

To learn more about various wallet types, check our Wallets and Exchanges review.

Step 3: Review the fees

Before making a transaction, it’s essential to consider all the fees and minimum deposit requirements. While LATOKEN doesn’t charge deposit fees, its trading and withdrawal fees are higher than the industrial average and vary depending on cryptocurrencies. Before you make a deposit, please check out the minimum deposit amount and fees.

Tip: Consider depositing a small amount to ensure everything goes smoothly and you’re not charged more than you expect. You can also test it out to see how you like the platform.

Step 4: Get started trading

Now, you’re all set to start trading. Trading on other exchanges is the same process. You must select the “Buy” or “Sell” tab and fill in the required information under “Price,” “Amount,” “Limit Order,” “Good Till Canceled,” “Buy BTC” (or “Sell BTC), etc.

Setting the “Price” determines the price you want to buy or sell a specific digital asset for. “Amount” refers to the number of cryptocurrencies you want to buy or sell. You can also choose between a “Limit Order,” where you limit how many assets you want to purchase and at which price, and a “Market Order,” for the algorithm to buy/sell assets at the current market price immediately.

Once you’ve set up all these parameters, you can press “Buy BTC” or “Sell BTC” to perform the trade.

A reliable provider is highly recommended. crypto portfolio trackerLike CoinStatsYou can manage your entire crypto portfolio across multiple exchanges or wallets using one platform.

Note: DeFi is a continuously growing Web3 segment, so you’re welcome to visit our What is DeFi guide to learn all about it!

Conclusion

LATOKEN is a decentralized cryptocurrency exchange that offers investors rich cryptocurrencies, altcoins and crypto pairs. It also has advanced products and services.

LATOKEN’s fees, on the other hand are very expensive and the exchange is criticized for being a fraud.

Is LATOKEN safe to trade? It’s hard to answer. The exchange hasn’t registered any hacking incidents and undertakes high-security measures; however, many users claim to have lost their funds on the platform.

Our LATOKEN Review will be a great help in your journey to crypto!