LATOKEN
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LATOKEN Review
What is LATOKEN?
LATOKEN is an Estonian cryptocurrency exchange. It has been active since 2017.
US-investors
LATOKEN does not explicitly state that US-investors are prohibited from trading. But if you’re from USA, you surely already know that you can never be too sure. Form your own opinion! (this review is not a legal opinion).
Owned by Payex OÜ
There is information about the company owning the exchange on the website of the exchange, which is always comforting. In this case, it is the Estonian company Payex OÜ, based in Tallinn.
LATOKEN Trading View
Different exchanges have different trading views. And there is no “this overview is the best”-view. You should yourself determine which trading view that suits you the best. What the views normally have in common is that they all show the order book or at least part of the order book, a price chart of the chosen cryptocurrency and order history. They normally also have buy and sell-boxes. Before you choose an exchange, try to have a look at the trading view so that you can ascertain that it feels right to you. The below is a picture of the trading view at LATOKEN:
LATOKEN Fees
LATOKEN Trading fees
Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what we call “flat fees”. LATOKEN charges 0.28% for takers and 0.22% for makers.
According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.221% and the average spot trading maker fee is currently 0.177%.
Compared to those average trading fees, LATOKEN's taker fees and maker fees are above the industry average.
LATOKEN Withdrawal fees
LATOKEN's withdrawal fee is 0.0005 BTC per BTC-withdrawal. This fee is a bit below the industry average. The global industry average BTC-withdrawal fee the last time we at Cryptowisser did a full-blown empirical study of it was approx. 0.00053 BTC per BTC-withdrawal.
All in all, this exchange’s fee levels are in line with, or even slightly below the industry average.
Deposit Methods
LATOKEN does not accept any wire transfer deposits, but it does accept deposits via credit card. If you need to find an exchange where you can also deposit via wire transfer, you can find one by using our Exchange Finder.
Seeing as LATOKEN at all accepts fiat currency deposits, it qualifies as an “entry-level exchange”, meaning an exchange through which new cryptocurrency investors can enter the cryptocurrency market.
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 a advanced distributed system architecture; and
- All passwords in LATOKEN’s database are encrypted with what the exchange refers to as “Salted SHA-256”.
All of the above measures are of course very useful.