Latoken Exchange Review | How Good & Safe Is It To Use?
Jack Moreau
Mar 2024
8 min read
Fact checked
Latoken Review: Are you interested in exploring the features and fees of Latoken? Look no further as we have conducted a thorough review to help you make an informed decision! Our analysis covers everything from user experience to security measures, so you can determine if Latoken is the right exchange for your needs. Keep reading to discover the pros and cons of this popular cryptocurrency platform.
LATOKEN is a cryptocurrency exchange that was founded in 2017 by CEO Valentin Preobrazhensky. The company is incorporated in England & Wales and has over 200 employees.
Latoken exchange
Latoken supports a wide range of over 800 cryptocurrencies and 1100 trading pairs including well known digital assets such as Bitcoin, Ethereum, Chainlink, Near, Solana and many others. This makes it a great platform for those who are looking for a wide variety of digital assets to trade.
Latoken exchange is available on Android and IOS where it has over 1 million downloads with a solid 4.3 star rating. Overall, Latoken is a great option for those who are looking for a user-friendly exchange with a wide range of altcoins (and plenty of shitcoins) that are hard to find elsewhere.
Latoken app
Latoken KYC Requirements
Latoken allows users to sign up with just an email or phone number and password. KYC is only required for users who wish to buy cryptocurrencies with a credit card or receive increased limits. Those who only intend to deposit cryptocurrencies and trade without the need for KYC can do so right away.
Latoken Tier 1 KYC
For those that want to received the added benefits of passing KYC on Latoken, there are two tiers. The first one is called Tier 1 where users have to include their full name and phone number.
For those that do that, their 24-hour withdrawal limit increases to $9,999 as does their access to high IEO limits.
For those that want even more benefits, Tier 2 verification has to be completed and that includes more information such as residence information, uploading a valid government ID and taking a selfie. With Tier 2, users get access to a $100,000 daily withdrawal limits.
Latoken Tier 2 KYC
Latoken Products & Services
Latoken is an exchange that offers a wide range of over 800 cryptocurrencies, making it somewhat of an altcoin (shitcoin) heaven. Users can buy and sell these cryptocurrencies either on the spot exchange or via card from third-party providers like Banxa.
Latoken spot trading
In terms of trading volumes, Latoken frequently reaches trading volumes between $50-100 million which is on the lower end of the market average.
Latoken also offers multiple opportunities for their customers to earn on their digital assets via lending and borrowing, staking programs, and airdrops and giveaways. Latoken offers this earning opportunities for a lot of obscure cryptocurrencies that are lesser known.
Latoken staking
For those that want to buy and sell NFTs, that is also possible on the Latoken NFT marketplace. Latoken also offers its own native launchpad where new token listings occur.
Latoken NFTs
The user experience on Latoken is pretty average overall. It's nice that KYC is not required but the interface could definitely be more polished and easy to navigate. Everything feels a bit hastily put together which can be confusing for beginners.
Latoken dashboard
Overall, Latoken is a good exchange for those who are interested in trading a wide variety of cryptocurrencies and taking advantage of various earning opportunities. However, the user experience could use some improvement to make it more beginner-friendly and polished.
The spot trading fees charged by Latoken are 0.49% for makers and takers alike for the majority of tokens. For tokens exclusively listed on the exchange, the maker fee is 0.49% and 0.98% for takers.
Latoken trading fees
The exchange offers rebates for high volume traders with discounts starting from those that trade above $10,000 during a 30-day period. These fees are on the higher end and not really competitive with exchanges like Binance and OKX that charge 5-10 times lower spot trading fees.
Fiat currency deposits are not possible on the Latoken exchange. Users either have to deposit cryptocurrencies to trade or they can buy via credit/debit card through the third-party providers that Latoken works with. However, buying via these providers come with fees up to 10% commission.
Latoken buy crypto with card
It's worth noting that third-party providers such as Banxa and Wert are reputable and reliable, but users should be aware of the additional fees that come with using them. Assuming users really want to trade on the Latoken exchange, the best way would be to buy cryptocurrencies cheaper on another exchange and then deposit them for free.
How To Withdraw From Latoken?
Latoken does not support fiat currency withdrawals, only cryptocurrency withdrawals. The fees for withdrawing popular cryptocurrencies like Bitcoin and Ethereum are 0.0005 BTC and 0.014 ETH, respectively.
Solana withdrawals come with a 0.01 SOL fee, while ERC-20 Tether withdrawals come with a $10 USDT fee. It's important to note that the fees for withdrawing cryptocurrencies on Latoken can be quite high, so users should take this into consideration when choosing a withdrawal method.
In conclusion, Latoken is a more obscure cryptocurrency exchange that offers trading for a wide range of over 800 digital assets. This makes it an appealing venue for users looking to buy and sell more obscure cryptocurrencies.
Signing up on Latoken is quick and users can deposit cryptocurrencies and begin trading without any KYC verification. The trading fees on Latoken are on the higher end and range between 0.5%-1%.
For users that want access to more than just spot trading, Latoken accommodates some of those needs with their lending opportunities, an NFT marketplace, and their own launchpad.
The user experience overall is not great and the interface feels quickly put together without too much care or thought. Additional features such as fiat deposits and withdrawals are not available which means that the only way in and out is via cryptocurrencies.
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Author
Jack Moreau
Jack is a crypto writer and reviewer who has been active in the space since he caught the crypto bug in 2017. With a passion for trying out new shiny things, Jack is always eager to try the latest cryptocurrency exchanges, wallets or DeFi applications.
