LATOKEN is a cryptocurrency exchange, recognized as a leading platform for Initial Exchange Offerings (IEOs).
What is LATOKEN?
Established in December 2017, LATOKEN is a digital asset exchange offering a multi-asset trading platform for cryptocurrencies and tokenized assets. The exchange is known for its diverse range of lesser-known cryptocurrencies, user-friendly interface, robust security, high-speed transactions, and a dedicated mobile app. A distinctive feature is its NFT markets for tokenized real-world assets.
Underlying Technology
LATOKEN utilizes DAG technology (Directed Acyclic Graph), providing high-speed transactions and handling large volumes without significant delays. This sets it apart from traditional blockchain-based exchanges.
Native Token: LA
The platform has its native token, LA, which serves as the base currency. LA tokens are used to pay trading fees and act as exchange pairs for all currencies on the platform. Users holding LA tokens enjoy a 50% discount on trading fees. LA has been used for trading tokenized shares of prominent companies like Apple, Tesla, Google, as well as commodities like gold, oil, and real estate ETFs.
Founder and CEO
Valentin Preobrazhenskiy, a respected figure in the crypto world, serves as the founder and CEO of LATOKEN. With a notable financial background, he has previously worked in investment banking and created other successful projects like Zalogo.
Supported Countries
LATOKEN supports users from various countries worldwide, with a significant user base in Australia, the UK, China, and Switzerland. However, certain countries, including the USA, Bosnia And Herzegovina, Syria, North Korea, and others, are not supported.
Regulation and Compliance
LATOKEN claims to adhere to AML regulations, requiring active traders to undergo KYC checks. The platform avoids operating in countries with strict cryptocurrency regulations, such as the US.
Products and Services
LATOKEN offers various features, including IEO campaigns, LA trading, and access to VCTV, the platform's video portal for crypto-related content. The exchange supports over 60 digital currencies and 145 trading pairs.
Fee Structure
LATOKEN charges trading fees higher than some competitors, with a fee of 0.49% for both takers and makers. However, users can reduce fees by paying in LA tokens, obtaining a 74% discount, or increasing trading volumes.
Controversies and Issues
Despite its features, LATOKEN has faced criticism for high fees, lack of fiat support, no leverage, and reportedly unsupportive customer service. Users have raised concerns about withdrawal and deposit problems, including funds disappearing and minimum deposit requirements. Scam allegations, such as receiving only a fraction of the expected value when selling cryptocurrencies, and suspicions of fake liquidity have been reported in reviews and on Twitter.
LATOKEN Controversy
Addressing the negatives, LATOKEN has faced controversies, including deposit and withdrawal issues, withdrawal closures without warning, and users experiencing difficulties contacting customer support. Scam allegations involve users claiming they receive less value than expected when selling cryptocurrencies, and some users report that their assets disappeared from the platform, suspecting fake liquidity.
What are the trading fees on LATOKEN?
LATOKEN charges trading fees higher than some competitors, with a fee of 0.49% for both takers and makers. However, users can reduce fees by paying in LA tokens, obtaining a 74% discount, or increasing trading volumes.
Does LATOKEN offer leverage trading?
LATOKEN doesn’t offer leveraged trading.
Is LATOKEN safe?
While many major CEXes boast stronger firewalls than most governments, history has witnessed numerous instances where exchanges have fallen victim to hacks, resulting in the loss of customer funds. DEXes are generally safer option as you have control over your funds at all times as long as blockchain is up and running. Its all based off contract code so you can clearly look whats behind the scenes, and how their contracts work.
Does have customer support?
Almost all exchanges provide customer support, but the quality, speed and continuity of this service varies from time to time depending on the budget conditions of the companies. We recommend that you experience the support service provided by the stock exchange by asking a question to the support section on its website.
