LATOKEN, founded in 2017, began its journey as an Estonian cryptocurrency exchange and today has about 270 employees, although this number is subject to change. Launched by Valentin Preobrazhensky and his three partners, the company initially sought to create a platform for trading various assets. However, over time, it has evolved into a much more diverse platform providing additional services. LATOKEN currently offers its users not only cryptocurrency trading opportunities, but also a wide range of financial services, including Fintech, cryptocurrency wallets and online banking.

Exchange Features

The crypto exchange provides its users with the following features:

1. Spot Trading: Allows users to buy and sell cryptocurrencies at current market prices.

2. Investing on a crowdfunding platform: Provides an opportunity to invest in projects using a crowdfunding model, where users can finance various cryptocurrency projects.

3. Stacking: Allows users to store their coins on the trading platform and receive a reward for this, similar to interest on deposits in a bank.

It should be noted that according to CoinMarketCap, in June 2021, the crypto exchange was ranked in the top 100 in terms of weekly attendance, with more than 200 thousand active users and a daily turnover of more than 150 million US dollars. The company's capitalization was $36 million. Starting its activity, the exchange was positioned as decentralized, but over time its functionality has expanded, and currently it operates as a centralized platform.

Additional services

LATOKEN provides more than just a cryptocurrency exchange service. A variety of additional features and services can be found on the company's website.

1. Investing in startups: LATOKEN offers the opportunity to invest in startups through the largest IEO (Initial Exchange Offering). However, investors should be attentive to risks and have sufficient information.

2. Referral Program: Users can get $50 credit for attracting new traders through referral links and receive a 25% commission discount.

3. Creating their own company: Entrepreneurs can offer their projects to investors through the LATOKEN network, gaining access to more than 500 thousand users worldwide. This includes the ability to use the Data Room and Online Video Pitch.

4. Earning cryptocurrency: Users can complete various tasks on the platform and receive cryptocurrency rewards.

5. Improving the position of digital assets: Users can post their projects on the platform and use the referral program to attract traders.

6. Presenting the project to investors: Entrepreneurs can easily present their startups on Venture Capital Television (VCTV), which will provide them with feedback and valuable contacts. LATOKEN currently has 25 major investors.

Thus, LATOKEN provides a wide range of opportunities, including investing, earning, creating and representing startups, which makes it more than just a cryptocurrency exchange.

Types of orders

The LATOKEN cryptocurrency exchange offers two types of orders for buying and selling assets:

1. Limit Order: Allows the trader to set the price to buy or sell the coin at will. The order is executed at the price specified by the user or at a more favorable price. Depending on the time the order is in the general glass, there are three subtypes:

• Before cancellation: The order remains active until it is executed or canceled by the user, without a time limit.

• Immediate execution or cancellation: The order is cancelled if there are no offers on the market. In case of partial execution, the unspent part of the asset is returned.

• Full execution or deletion: The order is not partially executed and is automatically deleted if there are no offers on the market.

2. Market Order: Executed instantly at the best available price on the market, without waiting for the price specified by the user to be reached.

Thus, a limit order provides more flexible control over the transaction price, while a market order provides instant execution at the current market price.

Trading on the platform

The LATOKEN platform specializes exclusively in spot transactions, offering users the opportunity to trade various assets without using additional instruments such as futures or options. The process of starting trading on the LATOKEN platform is simple and transparent.

After completing the registration process, each user receives two wallets: the main one and the spot one. The main wallet is designed to manage funds, replenish the balance and withdraw assets from the platform. The second, a spot wallet, is designed specifically for conducting trading operations.

To start trading, the user must first replenish his exchange account with funds using the replenishment methods available on the platform. After that, the funds will be available on the main wallet. The user can then easily transfer the required amount to his spot wallet using the built-in transfer function between wallets.

As soon as the funds have been deposited to the spot wallet, the user can start trading using the trading pairs available on the platform. The trading process is intuitive and provides the user with the necessary tools to conduct successful transactions.

Thus, thanks to the simple and convenient process of starting trading, as well as a specially designed spot wallet, users of the LATOKEN platform can quickly and easily start trading various assets and implement their investment strategies.

Buying cryptocurrencies for fiat

The LATOKEN platform provides two main ways to purchase cryptocurrencies for fiat money, such as dollars or other currencies:

1. Through a spot wallet: In this case, the user must first make a deposit or top up the exchange's internal account in another way. After that, the funds can be used to purchase cryptocurrencies using a spot wallet designed for trading.

2. Using the exchange option: When choosing this payment method, the user can use a bank card. After completing the transaction of buying cryptocurrency through this method, the purchased assets are credited to the internal account of the exchange. The process is carried out by clicking on the corresponding "Buy" link on the website and selecting the desired exchange direction. Users can exchange fiat money (for example, dollars, euros, rubles, hryvnia) for a cryptocurrency of their choice.

These methods allow LATOKEN users to purchase cryptocurrency in a way that is convenient for them, providing flexibility and accessibility when conducting transactions.

Mobile application

The LATOKEN mobile app is available for both Android and iOS devices, providing ease of use for a wide range of users. It received a 4.2 star rating on Google Play and has been installed more than 500,000 times, indicating its popularity.

The application provides the functionality of both a cryptocurrency exchange and a digital wallet. Registration in the wallet is quick and easy, requiring only an email address and a phone number. While using an online wallet is convenient, asset security can be enhanced using hardware wallets such as Ledger Nano X or Trezor Model T.

The LATOKEN application provides a wide range of functionality for trading and asset management. Price notifications help users not to miss out on great deals, and the latest industry news helps them stay up to date.

Currently, the application offers the opportunity to trade more than 450 cryptocurrency pairs, which makes it attractive for traders with different preferences. A recent update to the app has introduced a new referral program that provides users with additional benefits in the form of credit to the account and daily cashback.

The general user reviews of the LATOKEN app are mostly positive, although some users may experience some technical issues. Overall, the application offers all the necessary tools for trading cryptocurrency, although there could be some improvements, especially in the withdrawal process.

Сommission

LATOKEN charges up to 1% of the amount for making a deposit with cryptocurrencies. The fee for depositing funds in fiat currencies depends on the service through which the transaction takes place. For unauthorized users, the withdrawal limit is $1,000 per day. After confirming the identity, the limit increases to 100,000.

Safety 

LATOKEN stands out for its focus on security, which is one of the key aspects in choosing a cryptocurrency exchange. The exchange provides a number of security measures, including:

1. Encrypted keys and password security: LATOKEN provides encryption of private keys using AES-256, which provides a high level of protection.

2. Secure storage and data transfer: 99.95% of user funds are stored in cold storage using multi-signature technology. An encrypted HTTPS/TLS connection is used to transfer data.

3. DDoS protection: The exchange has DDoS protection using a distributed system architecture, which prevents interference in trading from outside the system.

4. Two-factor authentication (2FA): Two-factor authentication is required to make account changes or withdraw funds, which additionally ensures user security.

While some aspects, such as using SHA-256 to protect passwords, may raise security questions, LATOKEN generally offers extensive security measures, which makes it an attractive option for cryptocurrency trading.

Support Service

In the world of cryptocurrencies, where experienced participants side by side with newcomers, access to reliable and useful customer support is a key factor in successfully diving into this field. The LATOKEN platform, which is popular among many crypto enthusiasts, attracts attention with its promised 24/7 support and various available communication channels.

On the one hand, many LATOKEN user reviews attest to the reliability and usefulness of the support provided. This confirms the fact that the platform provides not only extensive trading tools, but also actively pays attention to its customers. The online support service, available 24/7, as well as a convenient online chat widget, make it easier to get help in case of problems.

On the other hand, not all LATOKEN customer support reviews are positive. Some users complain about the long waiting time for a response or the unsatisfactory quality of service. These cases can create some uncertainty for newcomers who are just starting their journey in the world of cryptocurrencies.

However, LATOKEN offers a variety of ways to communicate with the support team to meet the diverse needs of users. From filling out the ticket form to joining the official Telegram messenger group, the choice of the appropriate communication method depends on the preferences of a particular user.

Overall, despite some negative reviews, most LATOKEN users express satisfaction with the level of support provided by the platform. When choosing a way to communicate with customer support, it is worth focusing on your own preferences and expectations, and also keep in mind that the company strives to ensure maximum accessibility and assistance to its users in resolving issues and problems.

Conclusion

Despite the decline in popularity and the shift in the ranking, the LATOKEN platform still remains an attractive choice for traders and investors in the world of cryptocurrencies for several key reasons:

1. Extensive opportunities for spot trading: LATOKEN provides extensive opportunities for spot trading, which allows users to actively participate in the market and carry out transactions with cryptocurrencies.

2. Availability of additional services for earning: In addition to trading, the platform offers additional services for earning, which may include staking, farming, liquidity pools and other tools to increase profitability.

3. Good interface: The user-friendly and intuitive interface allows users to easily navigate the platform and perform operations without unnecessary difficulties.

4. Reliability: Despite the changes in popularity, LATOKEN continues to maintain its reputation as a reliable platform, which is important for traders and investors seeking to ensure the safety of their funds and operations.

Thus, when choosing a platform for making money on cryptocurrency, LATOKEN remains a promising option due to its functionality, additional services, user-friendly interface and reliability.