Latoken is an exchange that provides opportunities to new startups to apply for IEO. The exchange serves as a platform where cryptocurrencies can be traded and provides liquidity to new tokens. The exchange is based in Estonia and was founded in 2017 by Valentin Preobrazhensky.
Latoken presently ranks at number 104 amongst cryptocurrency exchanges with a trading volume of $763,247,398.
SERVICES OFFERED BY LATOKEN
- Buy/sell crypto: you can buy and sell cryptocurrency on Latoken, including Bitcoin and numerous altcoins.
- Exchange: Latoken has over 200 active market/ trading pairs you can trade and exchange with.
- Referral program: you can make extra earnings of $50 whenever you invite someone to register with the platform using your referral link.
- Staking: users can earn profits from staking their cryptocurrency on latoken. You have to purchase staking supported cryptocurrency on the platform, and your profits will be calculated and paid into your account.
- IEO Launchpad: This service enables startups to carry out their initial exchange offerings to generate funds for their projects. The exchange claims to have assisted over 130 start-ups with about 400,000 investors from their platform.
- LA token: this is the native token of the exchange. The token is used to trade on the exchange and also helps to increase the liquidity of Latoken.
- Mobile app: the exchange also provides a mobile app for both Android and IOS phone users.
HOW DOES IT WORK
- Registration: Create an account by visiting their website at www.latoken.com and click on sign up and fill in the required details. Confirm your email address by using the code that will be sent to your email address and create a strong password. For security purposes, make sure you use the 2 factor authentication when logging in for the first time, then click on sign up.
- Payment method: you can buy crypto on latoken with fiat using their credit card except for users from the US. It also accepts the use of cryptocurrency as a means of deposit.
- Transaction fees: trading fees charged by latoken include a fee of 0.05% for pairs in LA, 0.1% for all other pairs. No deposit fee is charged, and withdrawal fees vary for each cryptocurrency.
- Supported currencies: the exchange currently supports the use of over 160 cryptocurrencies which includes BTC, ETH, LTC, XRP, TRX, ATOM, etc. fiat currency is also supported on latoken.
- Security: Latoken encrypts all its private keys with AES-256, stored offline. It also stores 99.5% of its user’s assets on cold storage with multi-signature technology. The passwords stored on their database are encrypted with what they refer to as Salted SHA-256. The user’s accounts are also secured using the 2FA verification. It also complies with the KYC/AML policy.
- Customer support: they can be contacted through their email address and social media channels. They also have a FAQ section and a Help section to solve any problem you might have.
Even though the exchange has a low transaction fee, a wide range of services and supported coins, there have been a lot of negative reviews about the exchange in 2021 by the users and workers.
The exchange has been labelled a scam by users on product review platforms such as Trustpilot. Some of the accusations include promoting scam IEOs that promise profit and growths of 100-500%.
They are cheating and lying to their users and employees, lack transparency, and misleading their users. Some users also have complaints about bad customer support.
Therefore before you consider using Latoken, do your own research and tread carefully.