Latoken cryptocurrency exchange – reviews and review
LATOKEN is a decentralized platform for cryptocurrency investing in real estate, a share in companies, debts, goods and works of art (illiquid assets), as well as for tokenizing its assets for their subsequent trading and sale.
The company was established in 2017. To launch the site in the fall of 2017, an ICO was held. According to the results of the first round alone, it was possible to raise about $ 9 million. In total, about $ 18 million was raised through the initial placement of coins.
The founders of the site do not make a secret of who is working on its development. The post of CEO is occupied by Valentin Preobrazhensky. He is a blockchain entrepreneur and has already launched more than one project, for example, AIB Zalogo (a service for blockchain mortgages), the Founder Institute (a school for young people who want to gain or expand knowledge in the field of blockchain technologies).
The leaders also include:
- Danila Simonov – chief technical officer;
- Denis Simagin – Managing Director;
- Eli Taranto – Head of Investor Relations
- David Drake is an adviser.
Initially, they announced their project as ‘Amazon for physical assets.’ It was supposed to be a multifunctional platform where you can not only trade in digital currencies, but also buy securities, real estate, works of art, etc. So far, only a decentralized exchange is working from these areas, while others are under development.
Despite its Russian roots, the exchange is registered in Estonia, one of the most cryptocurrency-loyal jurisdictions.
The domain is registered 07.07.2017. The project is focused on different regions, but the official LATOKEN website is presented only in the English version. After registration, the user can select other languages, in particular Chinese and Korean.
At the top of the main page there are transitions to the main sections of the site. In the center you can make a quick currency exchange. Courses and schedules of the most popular trading pairs can also be viewed here. All information is updated online. A little lower the site points out its main advantages:
- Key protection;
- Reliable storage;
- Data transfer security, etc.
You can get acquainted with the working conditions of the exchange, use the contacts to contact support and go to groups in social networks at the very bottom of the official website.
SimilarWeb data shows that the exchange is currently experiencing a boom. From March to July 2018, the number of site entries increased by 6 times from 80,000 to 480,000. Most of the visits are recorded from the territory of Vietnam (18.9%). Traders from the USA (8.5%) and Russia (7.5%) also use the site quite actively.
Registration and login to LATOKEN
To create an account you must specify:
Then you will be asked to agree to the terms of trade on the exchange and you can begin to deposit funds.
After creating an account, the user receives a zero status, which allows withdrawing cryptocurrencies in the amount of up to $ 1,000 per day. To increase the limit, you need to pass verification. It consists of 4 stages. After each of them, the minimum amount for withdrawal increases. For the first you need to confirm the email.
To go through the following verification steps, enter in the appropriate fields:
- Name, surname;
- Date of birth;
- Phone number;
- Address of residence;
- Indicate the approximate average size of your deposit and annual income.
Attach documents proving your identity and registration to the system. After passing the last stage of verification, the size of your limit will be increased to $ 100,000 per day.
Input and output
A huge number of cryptocurrencies and tokens are available on the exchange. I must say that the administration focuses on low-cap altcoins, therefore, along with bitcoin and ethereum, there are a large number of tokens that may not be known to many traders, for example:
The site does not charge a commission for input / output. Users only need to pay a network fee.
LATOKEN does not work with fiats. As a digital analogue of the dollar, you can use Tether (USDT).
In total, more than 100 trading pairs are available on the exchange. They are divided into several markets: BTC, USDT, LA (platform’s own token) and ETH. The average daily turnover is approximately $ 18.5 million. The largest volumes in pairs:
NPXS / ETH – $ 1.4 million;
SALT / ETH – $ 1,075 million;
SALT / LA – $ 1,066 million;
BAT / LA – $ 1 million
Commission – 0.1%.
The exchange uses the chart of the Trading View service. This allows traders to use all the necessary tools for a detailed analysis of the market.
The chart is in the central part of the screen, and the list of trading pairs is in the left, under them is a glass of orders and the menu for compiling orders. Active and completed user requests are located at the very bottom of the trading terminal.
Types of Orders
Traders can place orders:
On the market.
Margin trading is not available.
The administration takes asset and user data security seriously. Therefore, the mechanism of AES encryption of private keys that are stored offline is used. More than 95% of traders ’funds are in offline wallets, and data transfer is protected by TLS technology. To increase account security, we recommend that you enable two-factor authentication.
There are quite a lot of positive reviews about the work of the exchange on the network. They trust her and note a high degree of protection, a low trading commission and a large number of altcoins in the listing. At the same time, there are complaints that the support is slow and may not respond to tickets.