|Brief||As you likely know, the cryptocurrency world has exploded in the last several years. While this is good for the crypto sector of the financial industry, it can be very confusing for traders and investors.|
|Last updated:||Saturday, August 8, 2020 12:00:03PM UTC|
|Volume 24 hours, USD:||46 164 706|
General LATOKEN facts, technical details and general information about LATOKEN exchange
As you likely know, the cryptocurrency world has exploded in the last several years. While this is good for the crypto sector of the financial industry, it can be very confusing for traders and investors. There is more than enough confusion regarding which coins to invest in, but with all the emerging exchanges in the last several years — traders are left with another issue, which is where to trade in the first place.
This is what we will try to answer by looking at as many different exchanges as possible, and reviewing what they have to offer. So, if you are looking for a new exchange to call home, let's take a look at an exchange known as LATOKEN.
The first thing to note is that this is an Estonian exchange, which is significant since Estonia is pretty much the only country from the Baltics where you can find crypto exchanges. It has proven to be quite crypto-friendly, which is why a number of cryptocurrencies and crypto exchanges were launched there.
Another positive for this exchange is that it did not state that the US traders are not welcome. While these things do tend to change, and the regulatory situation in the US makes matters complicated — US traders are still allowed to use LATOKEN. Now, whether or not they should is left to them to decide. The exchange is also quite transparent when it comes to its parent company — Payex OÜ, which is headquartered in Tallinn, so that is good too.
LATOKEN's interface is pretty simple and user-friendly, so we do not expect difficulties when it comes to learning your way around it. It also has great trading fees, sitting at 0.10%, which is well below the industry's average of 0.20%-0.25%, which is another good thing. It also has a withdrawal fee, which is actually larger than what you may encounter on most other exchanges.
The withdrawal fee on LATOKEN is 0.001 BTC, while the average cost of withdrawing your funds would be at 0.0007 BTC. It is not too bad, and many would say that it still fits in the range of average fees, although even then, it is definitely on the high end.
As for withdrawal fees — there aren't any, and withdrawals are actually possible via the credit card, or a direct transfer from your crypto wallet. Now, since you can deposit money from your card, it means that the exchange also works with fiat currencies, which makes it a good entry-level exchange. In other words, if you don't already own cryptocurrencies — you can get your first coins there in exchange for USD, EUR, or some other fiat currency. This is good, and it is not the case with all exchanges.
Lastly, let's talk about LATOKEN security. Security is one aspect where many of the exchanges actually lack, hence all the hacking attacks in crypto history. However, as far as we can tell, LATOKEN is actually doing a pretty decent job. All of the private keys are stored offline, and protected with 256-bit AES encryption, which is one of the strongest in the world.
Next, 5% of the funds owed by the users are kept in cold storage, which is additionally protected via the multi-signature tech. The exchange is also protected from DDoS attacks, and it encrypts all of the exchange's password with a 'Salted SHA-256' encryption. In other words, LATOKEN seems to be as secure as it can get, and it even features two-factor authentication, on top of everything else. With all of that in mind, the exchange definitely seems trustworthy enough.
Unfortunately, it does lack when it comes to margin trading, so it is not the best choice for risk-takers. However, that might change in the future if the exchange decides to try it out, so keeping tabs on the exchange's activities might be a good idea. After all, trading with leverage is becoming quite popular in the crypto world, and the exchanges are always looking to expand their services and attract more customers.
In the end, is LATOKEN a good exchange? We believe so. It doesn't offer margin trading, so it might not be for everyone, but most of the regular traders should be quite satisfied with what it has to offer, especially with such a large altcoin selection. In other words, it is worth considering and checking out, but the choice is on you, as always.
|LATOKEN volume change 24 hours||-26.87%|
|Exchange||Volume change, 24h|