The rise of multiple crypto exchanges has made it mandatory for users to make a proper analysis of the exchange best suited for them.
Today we will be analyzing Latoken exchange, one of the 20 most reputable exchanges. The review is objective. You will be able to decide whether Latoken is the right platform for your trading needs.
What is LATOKEN?
Latoken is established in Estonia and is one of the fastest growing exchanges. They now have more than 500,000 registered users and a daily turnover of more than $ 300 million. Latoken has also released its own utility token, called LA. LA is tradable on seven other exchanges, including OKEX, HitBTC and KuCoin.
Cryptocurrencies on Latoken
Latoken has a huge range of cryptocurrencies. In total, they offer more than 300 different cryptocurrency pairs on their exchange platform. Currently, four different trading pairs are offered, namely Bitcoin (BTC), ETH (Ethereum), LA and USDT.
Latoken has a very clean and clear interface which makes it easy to trade on the platform.
Latoken (LA)
Like other exchanges, Latoken (LA) has also developed some functionalities for its LA token. These functionalities are aimed at making it interesting for users of the exchange to own LA tokens. LA can be used for the following purposes:
- LA is a trading pair on the exchange just like Bitcoin (BTC). This means that LA can be traded on the exchange for other digital currencies.
- LA can be used to pay up to 50% lower buying and selling costs.
Fees and Expenses
The earnings model behind each exchange is in principle a percentage of the deposit, purchase, sale and withdrawal costs charged to the customer. Depositing digital currency is free with Latoken. Buying and selling tokens costs 0.05% when trading for LA and 0.01% for all other trading pairs.
If you want to withdraw coins from the exchange, you will pay a withdrawal fee, however withdrawal fees vary per coin and change with market conditions. A complete overview of the withdrawal costs per coin can be found by clicking on the following link: https://latoken.com/fees
LATOKEN Security
When it comes to security at this exchange, LATOKEN boasts on its website about its various security features:
- All private keys are encrypted with AES-256 and are stored offline;
- 5% of the user-funds are kept in cold storage with multi-signature technology;
- They have a DDoS-protection system built on an advanced distributed system architecture;
- All passwords in LATOKEN’s database are encrypted with what the exchange refers to as “Salted SHA-256”.
Is Latoken Legit or a Scam?
Latoken from our analysis and observations is a legit crypto platform with good services offered to the blockchain community.
New traders will love the simplified trading view, and the non-requirement of KYC will also attract crypto traders that value privacy. There has been no news of a breach or hack on the platform which shows its dedication towards the security of users’ data.
In conclusion, Latoken is one of the crypto platforms that is excellent for both beginners and advanced crypto users.
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