LATOKEN is a small-sized crypto exchange with a large selection of low-cap altcoins, and is often the first exchange to list newly launched altcoins. These are generally risky investments, so using this exchange is not advisable for those new to cryptocurrencies.
Only spot trading is available on this exchange, and you will not be able to trade derivatives or futures markets. Trading fees are also very high, making the platform unsuitable for high frequency traders. LATOKEN is one of the rare few platforms that even charges crypto deposit fees.
Very few features and services overall limit LATOKEN’s use cases. This exchange is mainly used to sell tokens received from airdrops, and isn’t very suitable for day trading or first-time investors.
LATOKEN Features Overview:
- Deposits: Cryptocurrency Bank cardsBank transfers
- Beginner trading: Spot tradingMobile appCopytrading
- Advanced trading: MarginFutures Trading bots
- Financial services: Fiat withdrawalsDebit ATM cardsCrypto loansP2P tradingStaking & Earn
- Other features: Optional KYCSubaccounts
LATOKEN Fees:
You can deposit fiat (local currency) to LATOKEN with these integrated 3rd party payment providers. Your purchased funds will be deposited to the exchange.
Integrated fiat gateways:
Visa/Mastercard
SWIFT Transfers (International)
Google Pay
Apple Pay
Skrill
NetellerLATOKEN Available & Restricted Countries:
Website or mobile app is translated into 14 languages:
In most cases customer support is also available in supported languages, but check the platform to verify.
LATOKEN Review – Deposits, Fees, Features, Safety & More
LATOKEN is a smaller exchange launched all the way back in 2017. According to their website, they currently have over 1.5 million users. This exchange doesn’t have the greatest number of features, but it also isn’t trying to be a one-stop financial center for all things crypto.
Instead, LATOKEN focuses on listing as many new coins and tokens as possible, and is often the first exchange to list newly released coins. Consequently, the platform undeservedly has a less than stellar reputation among traders for listing so many coins of questionable quality. Nevertheless, this is a decent platform for traders looking to find low-cap altcoin gems.
The exchange is available in most countries of the world, with only exceptions being USA, Canada, Afghanistan, Bosnia and Herzegovina, and North Korea. Mandatory KYC on user accounts is not enforced, but withdrawals are limited to $9,999 per 24 hours for non-verified users.
Along with finding newly listed coins and altcoin gems, LATOKEN is good for airdrops. Most of their airdrops are easy to participate in, with simple tasks such as tweeting or joining Telegram channels. Airdrops can be an excellent way for beginners to get free crypto without having to spend money.
In our LATOKEN review we’ll take a closer look at deposit and withdrawal methods and costs, trading fees, features, safety factors, and explain who this exchange is intended for.
Who is LATOKEN for?
- First time crypto investors: LATOKEN can be used by first-time buyers, but isn’t the best CEX (centralized exchange) for your first Bitcoin investment. Fiat deposits are available only through integrated 3rd party gateways, which often charge fees close to or even higher than 5%.
- Beginner traders and casual investors: For casual traders, LATOKEN can be a suitable option. The platform lists pretty much every major altcoin you can think of, but also many low-cap gems that aren’t listed elsewhere. In total, you can Spot trade over 1200 altcoins.
- Advanced traders and scalpers: Not suitable. Only Spot market trading is available on the exchange, and there are no margin or derivatives markets. Spot-only also means high trading fees, and LATOKEN is among the more expensive exchanges in the industry.
Deposits and withdrawals
In summary:
- Fiat deposits only through 3rd party gateway services.
- Crypto deposits have fees except on a few major ones.
- No fiat withdrawals.
- Crypto withdrawals are slightly more expensive than industry averages on major assets, can be very expensive on small altcoins.
Fiat deposits:
Depositing fiat (local currency) to LATOKEN can only be done through 3rd party services (gateways). The platform uses Meld, which is essentially an aggregator of multiple 3rd party gateways. By selecting your country and local currency, it will choose the cheapest gateway for you (for example Unlimit, Alchemy Pay, or Transak).
Making deposits is fairly simple and convenient, but using gateways as opposed to direct-to-exchange deposits can cause unnecessary friction. On the upside, you can choose from over 100 local fiat currencies in practically any country, and pay with dozens of popular or localized payment methods. But on the downside, using 3rd party services means additional fees, often around or over 5% per transaction.
Crypto deposits:
Of course, depositing cryptocurrency onto LATOKEN is easy. Unfortunately, it’s not always free of charge. Only large cryptos (BTC, ETH, TRX, USDT, USDC) do not have any deposit fees. However, all other altcoins have a 1% deposit fee. This can be a real deal breaker for some investors. Nearly all exchanges on Cexfinder have zero deposit fees on all cryptocurrency assets, no matter the coin’s popularity or market cap.
On the other hand, some of the altcoins available on LATOKEN aren’t listed on any other exchange. Meaning, you may not have a choice on where to trade them (aside from decentralized exchanges). Therefore, in some cases the deposit fees will be unavoidable, but otherwise traders can simply avoid fees by depositing crypto to a different trading platform.
Fiat withdrawals:
At this time, LATOKEN does not provide any fiat withdrawal services. You will not be able to cash out crypto as fiat with this platform, even through any of the 3rd party gateways. Instead, the only way to turn crypto into fiat is to withdraw cryptocurrency to another exchange or service.
Crypto withdrawals:
Cryptocurrency withdrawals depend on specific assets. Here are withdraw fees some of the most popular coins:
- Bitcoin: 0.0003 BTC
- Ethereum: 0.017 ETH
- Tether (USDT): 3 USDT (ERC20, BSC or TRC20 networks)
- Stellar: 12 XLM
- Dogecoin: 7 DOGE
- Cardano: 7 ADA
You can find all crypto withdrawal fees on this page. But be warned, this long list has no way to filter or search for specific coins.
For crypto withdrawals it’s cheapest to simply use USDT. Withdrawing Bitcoin, Ethereum or many altcoins can far more costly when compared to most other exchanges.
How to trade crypto on LATOKEN?
LATOKEN does not have derivatives, futures, margin trading or any kind of leveraged trading. Instead, you can only trade crypto on Spot market. For newbie investors who simply want to own some Bitcoin, Solana or some latest memecoin, Spot trading is ideal anyway.
The trading user interface (UI) definitely takes some getting used to. LATOKEN does things very differently than most exchanges in the market. Experienced traders coming from other platforms will need an adjustment period, no doubt.
When trading, you can place standard limit and market orders to buy crypto at any current price or any specific price you set, but also stop-limit orders. There’s no other advanced orders; even Stop-Loss or Take-Profit are missing. Lack of advanced order types isn’t entirely uncommon in Spot market trading, but these would be welcome since LATOKEN has no other markets to trade on.
The trading UI lacks customization options. You can resize and hide the list of trading pairs, but that’s about it. You will not be able to resize or move any other panels, including the TradingView chart.
There is at least one very good thing we found on the trading screen: the filters. You can filter the list of coins by specific ecosystems (BTC, ETH, SOL, BNB, …), but also with additional categories such as staking, memecoins, DeFi, infrastructure coins, Layer 1s, even by market cap. Some of the filters can help you find trending coins or low-cap altcoin gems.
Overall, we find the trading UI very lackluster. It’s not just the fact that other exchanges are doing it differently; there’s just no need to reinvent the wheel. But LATOKEN’s trading UI simply isn’t as intuitive or customizable as those on nearly all other exchange we reviewed. For an occasional trade LATOKEN is fully functional, but more demanding traders will soon find plenty of downsides.
Crypto trading fees
Without any reductions, crypto trading fees on LATOKEN are set to 0.49% per transaction. Regardless of order type (maker or taker), you will always pay 0.49% on each buy or sell.
Fee percentages can’t be reduced through referral codes. However, by using Cexfinder’s signup link you will receive a $50 credit which can be used to offset crypto trading fees. Essentially, this means you can trade $10,000 worth of crypto without costs.
In addition, you can reduce your trading fees with certain 30-day volume thresholds. By trading more than $10,000 in a 30-day period, your fees will drop to 0.39% per transaction. For high volume traders, maker fees can even be free. A detailed breakdown can be found in our LATOKEN trading fees section/tab above.
By staking $LA (LATOKEN’s native token) you can further reduce trading fees by 10% to 50%, depending on amount staked. The first 10% reduction requires staking 10,000 LA; you can view the current live price below:
When we compare fees with other CEXs, LATOKEN is among the more expensive ones – initially. Frequent traders can receive substantial fee discounts with high volume or native token purchases. But in the end, if every penny matters, you can still find cheaper alternatives. There are many big exchanges such as Binance, Bybit, Gate.io or OKX where fees are only 0.1% or lower without even accounting for potential discounts.
Comparison of deposit and trading fees on biggest crypto exchanges. Find exact fiat deposit and crypto trading fees for spot and futures markets, and learn which cryptocurrency exchanges are cheapest.Read Now
Top features
For an exchange launched in 2017, you might expect more in terms of features. But that’s okay; not every exchange needs to be a fully decked financial center. Users coming from larger CEXs may find plenty of services missing, but here a couple of highlights and reasons to use this exchange!
Staking
Only fixed-duration staking is available (from 30 to 365 days, depending on asset). In fixed staking, your assets will be unavailable for trading until expiration. Redeeming early is possible, but you will likely forfeit any staking rewards accumulated.
The good news is that LATOKEN has staking for fringe altcoins that you probably won’t find elsewhere, potentially making it the only place to get passive income on certain coins. The bad news, you won’t find any popular staking assets here (not even BTC or USDT).
Airdrops
If you want to earn small amounts of crypto, LATOKEN’s frequent airdrops can get you started. By completing simple tasks such as posting on social media or joining Telegram channels, you can earn free tokens without any upfront costs.
Typically, you can find several airdrop events every month. Exact tasks and requirements will be different for each event, but it can be worth exploring for a good chance to receive free tokens.
No-KYC
Identity verification on LATOKEN is optional. To trade, you do not need to pass a KYC process or submit any identity documents. The platform will let you use all most services on the exchange, and the biggest restriction is a $9,999 withdrawal limit per 24 hours.
To use fiat deposit services, 3rd party gateways will likely ask you to complete KYC. For anonymous trading, you can deposit cryptocurrency directly.
Subaccounts
Because LATOKEN is Spot-only, high-risk leveraged trading and liquidations aren’t a problem. But still, traders who wish to separately track different trading strategies or isolate assets for other reasons can use the subaccounts feature easily.
To access and create a subaccount, visit your account profile and choose the “Sub Accounts” option. You can create multiple sub-accounts.
Referral rewards
By inviting your friends to trade on LATOKEN, you can earn up to 25% of their trading fees, and 5% of their staking rewards. Furthermore, inviting can give you (or your friends) free tokens from the airdrops.
In addition, if your friends use your referral link, they can receive a $50 credit to reduce trading fees. Hint: you can use Cexfinder’s signup link to receive the fee rebate!
Other notable feature includes a Launchpad/IEO section, letting users invest early into up and coming crypto projects. Yet overall, LATOKEN doesn’t provide a particularly comprehensive set of features and services.
Is LATOKEN a safe exchange?
Since its launch in 2017, LATOKEN has been safely providing crypto trading services without issues. There are no major hacks, security breaches, stolen funds, or other incidents on record.
It’s by no means the safest crypto trading platform. We know very little about the way LATOKEN secures customer deposits, and there are no public Proof of Reserves reports that would allow us to transparently check if all funds are safely tucked away. On the other hand, there’s also no evidence that LATOKEN is a scam exchange operating illegally or doing anything shady. They even have an active bug bounty program to reward users for reporting potential security risks.
The platform has no notable regulatory or government approvals or licenses in any countries it operates in. As a no-KYC exchange, this isn’t unexpected. For compliance reasons, it restricts customers from USA, Canada, Afghanistan, Bosnia and Herzegovina, and North Korea.
On social media, the platform has over 1.5 million followers, and the feedback and sentiment is generally positive. On Google Play, their mobile app has over 1M downloads and a 4.5/5 score. Apple users rated it with a 4.3/5.
On CoinMarketCap, LATOKEN is typically among top 50 by Spot trading volume. CoinGecko ranks LATOKEN with 6/10 score as the world’s #98 crypto exchange.
Account safety
- 2FA (2-factor authentication) is supported through Google Authenticator, email and SMS.
- When making withdrawals, additional verification via email or Google Auth will be required.
- Anti-phishing codes can be set up to help easily identify official communication.
- Withdrawal whitelists can be enabled to quickly send assets to trusted addresses.
- Sessions history is available to let you review a list of recent logins.
Overall, the user account security features are adequate to prevent most unauthorized usage. As always, make sure to adhere to crypto exchange safety best practices and tips to keep your accounts safe from misuse.
Keeping your crypto exchange accounts and funds safe involves vigilance and proactive measures. Read this guide and follow these tips to significantly reduce the risk of unauthorized access and keep your assets secure.Read Now
Conclusion – Is LATOKEN a good exchange?
If you’ve read our entire LATOKEN review, you already know the answer. We looked at various factors and concluded that this trading platform isn’t the cheapest, safest, or best in any category. In most aspects, it’s average or even below average. No matter what you’re looking for, better alternatives exist.
Complete beginners can find exchanges that are easier to use and have cheaper and more varied fiat deposit options. Some beginner-friendly features such as quick convert or copytrading simply do not exist.
When it comes to features, LATOKEN also leaves a lot to be desired. Staking exists, but there’s a good chance none of the coins in your portfolio are available. Subaccounts have limited use cases on this exchange since it only has spot trading.
Why use LATOKEN?
There are two main reasons to use LATOKEN:
- First is their no-KYC policy with very few restricted countries. You can use the exchange from nearly all jurisdictions. Because identity verification is optional, even traders from United States or Canada could technically use the platform with VPN services. But on the other hand, there are plenty of regulated exchanges with Spot trading available even in these two countries.
- Second, access to many low-cap and newly released altcoins can be attractive to traders looking for high-risk investing. You should always do proper due diligence and ensure you invest into good projects. But LATOKEN will definitely give you plenty of interesting and potentially lucrative investment opportunities.
- Very large list of altcoins, many not listed on any major exchanges yet.
- Frequent airdrops let you earn free crypto for easy tasks.
- 50+ tokens for staking, many unavailable on other exchanges.
- Varied fiat deposit methods, but only through 3rd party services.
- Optional identity verification (KYC).
- No cheap direct fiat deposit methods, only via 3rd party gateways.
- No flexible staking duration, only fixed.
- Poor user interface.
- Very high trading fees.
- Most altcoins have deposit fees.
Final thoughts
LATOKEN is a basic crypto exchange with few features, high trading fees, and fairly poor user interface. The UI and high fees make it unsuitable for everyday use or frequent trading.
In most cases, LATOKEN can be a potential alternative exchange to get rid of airdropped coins and do some simple spot trading. Generally speaking, you can find a better exchange no matter which feature or aspect you’re looking for.
