The Complete Guide to the LATOKEN Exchange

Content

• History
• Founding Father
• The LATOKEN Exchange
• User Registration
• Depositing and Withdrawing
• How to Trade
• Fee Structure
• Restricted Locations
• Accessing LATOKEN through APIs
• Mobile App
• Security
• Listing and Crowdfunding
• Customer Service
• Legal Compliance
• Conclusion

A relatively new platform in the crypto exchange business, LATOKEN has taken the world by storm. Launched in 2017 during the height of cryptocurrencies, the exchange focused on offering good liquidity to the array of new crypto tokens that were entering the market. Initially designed to be a platform that allows real-world assets to be tokenised and traded on the platform, today the exchange is more like a traditional crypto exchange.

LATOKEN initially attempted to list blue chips such as Apple and Tesla on its exchange, along with commodities like silver and gold to grab the vast market that was still not in the reach of hundreds and thousands of people. However the plan was abandoned due to multiple regulatory and legal issues that arose due to the complexity of security tokens.

1. History

LATOKEN was launched in 2017, with headquarters in Malta, a very crypto and blockchain friendly nation in the EU. Somewhere down its development, the core team moved away from its intention of building a whole new platform that would allow merging of cryptos and real-world assets. The initial plans included addition of stocks, securities, commodities and real estate. Tokenisation of these assets would mean the entry barrier would be greatly reduced. A person who couldn’t afford to buy a single share of a blue chip such as Apple, would be able to get an ownership of a part of the share by acquiring a crypto-based token asset.

This concept would’ve allowed not only people to have access to high-value assets through a secondary market created by LATOKEN, but also allow them to diversify their portfolio. The increased tokenisation would also give the market an increased liquidity, helping not only the traders, but firms who would get themselves listed on the platform. Thus the name Liquid Asset Token (LATOKEN).

Hit by snags of regulation and legalities, the exchange decided to forgo the idea and the platform instead focused on ICOs (Initial Coin Offerings) and IEOs (Initial Exchange Offerings) that were being launched on a near-daily basis in the industry during 2017 and 2018. To date, the exchange has helped more than 150 startups by listing their tokens and providing them an opportunity to gain investment through trades of their native crypto tokens.

LATOKEN gained popularity for its innovative methods of business and today stands among the top-50 crypto exchanges in the world with an average of $145.7 million+ in daily traded volume, and operates out of Malta.

2. Founding Father

Valentin Preobrazhenskiy’s education is in the finance and economic sector. He spent most of his professional education years in National State University, learning about economics. (1997 to 2006, BS Economics, MA Management). Later, he went for another Master’s degree, this time in finance from the New Economic School, Moscow (2007 to 2009).

LATOKEN was the dream child of Valentin Preobrazhenskiy, a financial genius who has a knack for finding out the best ways to drive economics for all parties. Valentin has a vast experience working in different sectors:

• Vnesheconombank: May 2001 - August 2001 (Four Months). Trainee. Valentin learnt about risk management, capital markets, compliance and cross-border transactions.
• SberBank: March 2002 - August 2002 (Four Months). Strategy Intern. Working in the largest Russian bank, Valentin gained knowledge on how to develop credit risk models and liquidity in different markets.
• RAO UES: September 2002 - August 2006 (Four Years) Consultant and Head of Expert Group, Chief Specialist. Revolutionising the national backed power company for privatisation. RQO UES at the time generated 146 TerraWatt of power and employed 470,000 people. Valentin also designed an investment plan for the hydro power unit and as a Chief Specialist, was at the forefront of development of energy market rules in the Commonwealth Independent States.
• CERA: March 2005 - July 2007 (Two Years, Five Months) Senior Associate. Valentin was in lead in developing the merger and acquisition strategies for the deregulated energy market
• Spectrum Partners: July 2007 - May 2009 (One year, Nine Months) Director of Research. Valentin joined the Swiss hedge fund as a Utility Analyst but his grip on the financial aspects caught the eyes of the management and rose quickly to the rank of Director of Research. He was responsible for a portfolio to the tune of $180 million USD for value funds and absolute return instruments.
• Founder Institute: April 2016 - January 2017 (Ten Months) Director of the Moscow Branch, overseeing 35 students for the acceleration program.
• AIB Zalogo: December 2014 - May 2017 (2 Years, 6 Months). Founder, CEO. Servicing mortgage loans through seven banks and more than 25 different investors. Has processed more than a thousand loans in the last year.

LATOKEN: March 2017 to Present (3 Years, 5 Months) Founder. One of the most liquid exchanges in the world, LATOKEN offers multiple token trading markets with a dedicated Initial Exchange Offering.

Years of experience in the investment and finance industry wasn’t the only feather in Valentin Preobrazhenskiy’s hat. He had the ability to see untapped potential in emerging areas and was quickly able to leverage them. The rise of cryptocurrencies was another area he believed held a vast potential to be the next big thing. Initially he intended to build a market where real-world assets and securities could be represented by blockchain tokens, giving partial ownership to multiple people and allowing them to not only lower the financial barrier needed for people to enter a lucrative market, but also to give increased liquidity.

LATOKEN however, has changed over the years and now only serves as a cryptocurrency exchange and launch platform.

3. The LATOKEN Exchange

Offering high liquidity, LATOKEN is a popular exchange for traders of all kinds. People who want to trade in the major coins or who wish to try their luck at new startups with high risk and high gains will find what they’re looking for in this exchange. The exchange offers 145 different cryptocurrencies that are bought and sold in nearly 320 trading pairs.

The exchange’s commitment towards adding tokens that can bring about a change in the industry or have the potential to grow is evident from the sheer number of tokens listed. Although the exchange also claims to offer increased liquidity, it doesn’t offer much in the form of trading pairs. Most smaller market capitalisation tokens are listed against BTC only.

The main page of the platform is unlike any crypto exchange we have seen so far. Instead of using dark colours or pastel hues, the main page is white, with little containers of information about the different activities happening on the platform. For a first-time visitor, the exchange may seem more like an informal news platform, with a section on the main page dedicated to its blogs, the articles arranged with images in a way that highlights them.

The main trading interface even carries the white theme. Where many crypto exchanges give options of a night mode, with darker hues and a deeper theme that is easy on the eyes, there wasn’t such an option to be seen on LATOKEN.

There isn’t much special information available on the site about the trading interface itself, and it carries the same information and tools that all other exchanges do. In the middle, taking up the most space is the trading graph, with candlestick figures using hourly time stamps by default. On the left side is the trading pair container, allowing traders to quickly shift over to their preferred pair. On the top right is the order book, sell orders on top of the buy orders. Below the order book is the order container with different buy and sell orders such as market, limit, fill or kill etc. Further below, the orders and trade history can be found.

One thing that’s out of the ordinary in this exchange is the asset overview and social feed container below the trading graph. Giving users an overview of their trading asset can be somewhat helpful, especially for LATOKEN users as they get to see more new tokens than any other exchange. However, the relevance and importance of the token social feed can be debated. The social feed can help traders to keep in touch with the latest happenings, but for large tokens like ETH and BTC, any social media post that has these mentioned will be more of a distraction than giving out the information a user might need to anticipate market shifts and buy or sell in advance to make profits.

4. User Registration on LATOKEN

Users from all over the world gather on the LATOKEN platform to perform their trades. To trade, however, getting registered first is a must. The registration process at LATOKEN is very simple and straightforward, with minimum difficulty.

People interested in trading on LATOKEN first need to head over to the website and click the Login or Sign up button on the top right of the screen. The user will be shown an interface with two tabs, where the user may indicate if he or she is a first timer and wants to open up a trading account or already has one and needs to simply sign in.

New users will be shown three data fields. The first field asks for an email address. All communications with the user (apart from the Two-Factor Authentication) will be conducted through the email address mentioned here, so users are advised to enter one that they regularly check for emails. The second field is for the user’s desired password. Like all high-security platforms, LATOKEN has some stipulations users must abide by for passwords:

• It should be at least eight characters long
• Contain at least one digit
• Also should have one special character
• There should be at least one uppercase

LATOKEN also recommends that the password shouldn’t be used by the trader for any other platform, exchange or otherwise.

Since the password is the string of characters that gives the users access to the trading platform, users are required to enter the password twice so that they’re aware of what characters are being input. A fourth data field asks users for any referral code they might have. This code is unique to every existing trader and they can use their personal code to refer new users. Referrals give existing users who take advantage of them discounts and other advantages for bringing the exchange new business. If a new user has received a referral code, they should enter it here.

At the bottom of these data fields, users will find two check boxes. The first is a confirmation that the user hasn’t used the password before anywhere (remember those aforementioned password requirements?) and the second acknowledges that the user has read the Privacy Policy, Terms of Service and Risk & Compliance Disclosures and is aware of the risks he or she is taking by taking part in cryptocurrency trading on LATOKEN.

Clicking the ‘Sign up’ button completes the registration application. LATOKEN will send an email to the address mentioned in the signup process containing a code that the user will need to enter in the next screen. Users can also use the provided link and press it, verifying that they are, indeed, the user who originally signed up to the exchange with that email.

Once the user has verified, he or she can begin trading on LATOKEN.

Tier Levels, KYC and Limits

LATOKEN, where it simplifies the signup of new users on the exchange, creates different levels of trading with different limitations on trades, withdrawal limits etc, each requiring more documentation and proof under their respective KYC rules:

• Tier 0: The tier that’s assigned to traders as soon as they sign up. It allows users to start trading crypto and fiat pairs -- with limitations. Trading pairs with alt coins is not allowed. Tier 0 users are also barred from taking part in any IEOs and can only withdraw up to $1,000 USD equivalent of tokens per day.
• Tier 1: This next-level tier increases the user’s withdrawal limit of $10,000 USD equivalent per day from $1,000 in Tier 0. And that’s actually the only change in restrictions between the two tiers. Users are required to give LATOKEN their personal details, including: full name, phone number, proof of citizenship and date of birth.
• Tier 2: This next tier gives traders an increased withdrawal limit of $100,000 per day, access to fiat deposits and withdrawal, and the ability to take part in token sales. Users are required to submit (along with Tier 1 data) proof of residence, government-issued identification and photograph to qualify for this level.
• Tier 3: By answering a questionnaire from LATOKEN, users can upgrade to Tier 3. This Tier carries all the same access the user has from Tier 2, but at this level, users can trade using alt coins.

Users can apply for their desired level of tier whenever they want. All they have to do is to simply head over to their profile and go to the Tier Settings.

5. Depositing and Withdrawing on LATOKEN

Depositing and withdrawal of funds is the natural order in any trade and it’s no different on LATOKEN. The exchange provides easy means of transacting money in and out of the platform for its users.

Depositing Cryptos

Users, though allowed to trade immediately after sign up, still need to fund their accounts before they can do so. For that, users need to first log in to their account and click the Deposit button right next to their profile one.

The users will be shown all the cryptocurrencies they can deposit in a list. Each row will contain information such as the token, total wallet balance, futures balance, spot trading balance, and the total value in fiat. Going further, traders will find the deposit button. Clicking on it, users will be shown information they need to deposit the coins in LATOKEN. The wallet address, a long string of alphanumeric characters, will be required to identify the LATOKEN wallet. This address will be required by the wallet from which the tokens will be transferred. Users can copy this address, or if the originator wallet supports it, the user can always scan the QR code provided.

Some tokens require more than just the wallet address to be transferred, such as a tag or a memo. This should also be provided to the sender’s wallet so that the LATOKEN account can be funded.

Buying Crypto with Fiat

LATOKEN doesn’t allow traders to make direct fiat deposits in their accounts. However, it does let users who don’t have cryptos to begin with to buy the digital assets using their debit or credit cards using the Simplex gateway. Supported cryptocurrencies include BTC, ETH, LTC, XRP, TRX, ATOM and LTC.

When users go to their wallets and find their preferred cryptocurrency, they should press the Deposit button. For the supported cryptos, users will see the option of Deposit via Credit or Debit Card. Pressing it will open up another interface that will allow users to buy cryptos using their cards directly. Supported fiat are US Dollar and Euro.

Users will be presented with simple options of entering the amount of fiat they wish to use to buy their crypto. On entering the amount, the next field will automatically calculate the amount of crypto the users will be getting. Another field on the right will tell the users how much LATOKEN will be charging them for the transaction. LATOKEN has a fixed rate of seven percent of the total amount. Below the fields, users will need to accept the agreement and terms of the transaction. After users have selected the option to confirm they’re OK with it, they can press the Submit button on the extreme right.

A short, bullet version of the conditions of the purchase are also given for the users to read:

• Minimum and maximum amount per transaction in fiat, along with the monthly cap.
• Acceptable cards have to be VISA, MasterCard and Delta enabled.
• Transactions are near instant
• Simplex, the payment processor, will confirm the amount and crypto provided will be according to the market rate at the time of Simplex’s confirmation.
• Certain countries are not supported by Simplex. The list is subject to change by Simplex, and LATOKEN has no control over it.

Once the submit button is pressed, users are taken to the billing page, where they’ll have to enter their details such as name and address. Clicking the ‘continue’ button will take them to the Simplex interface, where users will need to enter their card details in a secure environment. After Simplex verifies, it will process the transaction and as soon as LATOKEN receives information from Simplex, it will deposit the crypto balance in the user’s account.

Withdrawing Crypto

The withdrawal process for cryptos on LATOKEN is as easy and similar to the depositing one. Before starting the withdrawal process, users will need to shift their funds to their wallets. Even in spot trading, LATOKEN has separate wallets for easier fund management by traders. The wallet tab allows users to move funds from their wallets easily and without hassle.

After users access their wallet tab, they can select the crypto they want to withdraw. On the right where the Deposit button is, users will find the Withdraw option. Pressing it will make a withdrawal tab pop up.

If the crypto in question is one that piggybacks on other networks, users will have to select their preferred blockchain. For example, for USDT, they’ll have the option of selecting either the Bitcoin layer OMNI or using ETH-based ERC20 tokens.

The field below is where they have to enter the address of the receiver’s wallet. Then comes the amount field, where users enter the amount they wish to be withdrawn. Traders then simply click the Send button. To ensure that only the trader is sending the funds out of the exchange, LATOKEN will require a Two-Factor Authentication. The funds should be on their way after the 2FA is confirmed.

Each cryptocurrency has a minimum amount and a certain fee. This is mentioned below the Send button, along with the daily limit. Any amount over $100 USD equivalent will require the user to enter a confirmation, which is sent to their registered email address. Users can also expedite the transactions by setting the priority of the transaction speed. LATOKEN gives three levels, Normal, Fast and Fastest. Selecting the higher priorities will increase the withdrawal fee:

• Normal speed: Standard fee for the selected asset.
• Fast speed: 2x normal fee plus 3% of the total amount.
• Fastest speed: 3x normal fee plus 4.5% of total amount.

The maximum amount traders can withdraw has to be lesser than their holdings. This is because of the above mentioned fee that’ll be deducted from the user wallet.

Care should be taken to ensure that the wallet address is on the same network as the cryptos being withdrawn. Sending a cryptocurrency to a different network will lead to loss of all the funds sent.

Transfering Funds to an Internal Trader

Users will occasionally find the need to send funds from their account to another trader on LATOKEN. Rather than using the receiver’s wallet address and the withdrawal process, users can simply use the registered email address of the recipient to transfer funds internally in the exchange.

Going to the withdrawal tab, users will find the option of entering an email instead of a wallet address. Entering the email address is all that’s needed. The movement of funds doesn’t incur any charges. Users should note that they must use a registered email address for the transaction to occur.

6. How to Trade on LATOKEN

With 145 cryptocurrencies on the exchange and increasing, LATOKEN offers users the ability to trade in more than 300 different pairs, giving them the chance to vastly increase their wealth. The trading interface is designed to be simple and intuitive, at the same time providing all the essential information that a user will need to make decisions on selling or buying crypto assets.

The major portion of the screen is taken up by the trading graph, present in the middle. By default, the graph shows a candlestick trend of the selected asset, with red indicating a drop of value in a certain time frame, and green indicating that the asset’s value increased. The graph is highly customisable, with items such as the time interval per bar, candlestick, Heikin Ashi, line, area, XABCS pattern, long position, and more. The graph can even be expanded to cover the whole screen. This comes in very handy for professional traders who use a multi-screen setup, making one screen displaying the graph for a detailed view while the user keeps trading on the other screens.

On the left side of the graph is the container where users can select the asset they wish to trade. Two main tabs of Crypto and Alternative allow traders to select the base currency and the list below shows all the crypto assets that can be traded against it. A search function also lets users quickly find their asset, rather than scroll all the way. Selecting the trading pair makes the complete interface adapt to display the relevant data, such as the graph representing the rise and fall of the asset value, quoted against the base in the pair.

The order book on the right also adapts to show all the buy and sell orders open for the trading pair. The sell orders are on the top, font coloured red, with buy orders in green below it. The order book lets the trader know how much of the asset is placed to be bought or sold at which rate, letting him or her make buying or selling decisions.

Buying and Selling Cryptos

Under the order book is where all the action takes place: the buy and sell orders. Both types of orders are placed in a single container, with the tabs on the top of the section allowing traders to switch between buy and sell conditions. On the left of these tabs, there are two more options through which users can select the type of order they wish to place:

Market Order

A Market Order buy or sell is just what it sounds like. Users can buy or sell their assets according to the market rate. This is normally used by traders when they’re comfortable with the price being offered. A user doesn’t need to do much except simply enter the amount of asset they want to procure or let go. A buy order would require the user to enter how much they’d want to buy. While placing the buy order, traders need to make sure that they have enough base funds to make the trade, while the same applies for the first asset in the trading pair for a sell order.

Since both the buy and sell Market Order mean that the trader is taking whatever the asset price is available, the fee incurred in both cases is the taker fee.

Limit Order

There are times when users simply aren’t comfortable with the market rate available. They could want to sell their assets at a higher value or purchase at a lower price. This is where the Limit Order comes in to help. Users can use this function to define the price of the asset they seek.

If looking to buy an asset, the trader can use the Limit Order and will be presented with two fields. The first one is the price of the asset the user wishes to buy. The price is quoted in terms of the base crypto of the trading pair. The second field under it is the total amount of the asset the trader wishes to procure. The amount of the asset here can’t exceed the total amount possible according to the amount of the base crypto held by the user. On pressing the Buy button, LATOKEN will place the order in the order book. If there is already a matching seller who not only has the same price of the asset set, but also has enough assets to complete the trade, the trade would be executed immediately. In case there are not enough assets to complete the trade, the amount available is traded and the order stands partially filled, until another order matches. In the case where the order is immediately matched (full or partial), the buyer is the taker and taker fee is charged. Any order that is filled later on makes the trader the maker of the order and maker fee is applied.

In case of selling an asset, the same data fields need to be filled, the first being the price wanted for the asset and the second one indicating how much of the asset held needs to be sold off. Clicking Sell would place it in the order book. Like the buy order, if there is a match immediately, full or partial, the trader incurs a taker fee. If there is no matching order, the sell order is placed in the book until cancelled or a matching buyer comes along, this time incurring a maker fee.

Limit Orders can be used to help a trader easily earn profits. The buy Limit Order can be used to buy at a lower market rate or when there is a dip in the price of the asset, acquiring more quantity in the same amount of base crypto. A sell order, on the other hand, lets the user dispose of the asset he or she had bought at a lower rate, generating profit.

Good Till Cancel

A variation of the Limit Order, the Good Till Cancel is a type of order that will remain in the order book indefinitely until the order is either completely filled or the user cancels it. Like the buy Limit Order, the trader needs to enter the required price of the crypto in terms of the base crypto of the trading pair and then the total amount of crypto that the trader wishes to buy. On placing the order, it gets placed in the books until it is completely filled, irrespective of the time taken to do so.

Similarly, the sell Good Till Cancel requires the same data fields to be entered, that is, the price at which the asset needs to be sold off, as well as the total amount of the crypto that needs to be sold. Again, the order will be placed in the books until it’s completely filled.

Immediate or Cancel

Unlike where the Good Till Cancel means that the order is placed in the books until it is completed, the Immediate or Cancel order means that when it’s placed, the order will be executed with any and all matching orders. Any partial matches are filled immediately and the rest of the order that’s not matched will be cancelled.

Like the previous order, the Immediate or Cancel is also a variation of the Limit Order and has the same fields of information that are required to be entered by the user: the price required, and the amount of asset needed (in case of a buy order), or the amount of the holding that the user wants to sell (as a sell order).

Although at first glance, the Immediate or Cancel order may seem strange, it has its advantages. For example, the option allows traders to sell or buy assets in an extremely short period of time and the users are, at the same time, willing to get their hands on whatever is available.

Fill or Kill

Another variation of the Limit Order, the Fill or Kill acts opposite to that of Immediate or Cancel. Instead of finding a matching order and filling the placed order as much as it can, the Fill or Kill will either get filled completely or will stand cancelled.

For a buy Fill or Kill, the trader needs to, once again, enter the required value of the asset, and then enter the amount of asset the user wishes to buy. The order will be placed in the books and if there’s a matching sell order that fills the buy order completely, it will be executed. If there’s no sell order that fills it completely, the buy order will be cancelled and the funds therefore returned to the trader.

Similarly, in case of a sell Fill or Kill, the same rules apply: the seller enters the price at which the asset needs to be sold and the amount of the total asset. A matching buy order in the books that fills the amount completely will be executed. If not, the sell order will be cancelled.

7. LATOKEN Fee Structure

LATOKEN encourages users to trade more. The more a user trades, the lower the fee charged by the exchange will be. This encourages the user to increase their trading volume. Trading fees are determined on the user’s last 30 days’ trading activity and volume. The exchange calculates the user’s last 30 days of trading volume on a minute-by-minute basis. The volume is converted into USDT using the average price of the assets traded, with the prices pulled from 17 different exchanges. The following trading fee schedule is used:Corporate or larger volume traders can contact the LATOKEN crypto exchange for custom trading fee.

Deposit & Withdrawal Fee

LATOKEN doesn’t charge any fee to deposit USDT but has a flat 1% for all other crypto on the exchange. For cryptos purchased using the crypto buying facility offered by the exchange, it charges a flat 7% commission on all fiat-to-crypto purchases made through debit or credit cards.

For withdrawals, the fee is a lot more complex. Instead of having a simple percentage, the exchange has a different fee for each crypto. Along with this, the exchange also has a minimum withdrawal amount. A lower amount than the one mentioned will result in the inability of the trader to transfer funds out of the exchange.

If users send funds to each other internally within the exchange through the email option, the exchange doesn’t have any charges.

Inactivity Fee

LATOKEN encourages its users to make as many trades as possible. Although the exchange does not place any fines for not making trades, it does charge a minimal amount for inactivity of trading accounts. A mere $5 USD is charged if:

• No transaction or trade has been made by an account for the last six months.
• Any referrals made do not make trades or transactions in six months.
• Fee charged is only for holdings of the top 100 cryptocurrencies in the CoinMarketCap list.
• No charges are incurred if the balance in the account is zero.

To ensure that traders are not caught off-guard, LATOKEN will inform traders of the inactivity fee well in advance, giving them a chance to make at least one trade and avoid the inactivity fee.

LATOKEN makes it clear that all fees charged are only to support and cover the exchange expenses and the larger community.

8. Restricted Locations

Where LATOKEN does market itself as a global exchange, does have limitations on which countries and geographical locations it can serve. The decision to not supply services to certain locations arises from a multitude of reasons, mostly surrounding the legal status of cryptocurrencies in the areas and any regulation restricting its usage or trading. Investors (directly or through an investment agent) not accepted by LATOKEN include jurisdictions of Afghanistan, Bosnia And Herzegovina, Democratic People's Republic of Korea (DPRK), Ethiopia, Iran, Iraq, Pakistan, Syria, Sri Lanka, Trinidad and Tobago, Tunisia, Uganda and Yemen.

Traders from other countries, though, are allowed to continue their trading activities. Yet, LATOKEN declares in its terms of use that these permitted users should acknowledge that if they travel to the above mentioned restricted countries, they’ll not be allowed trade from any of these restricted locations, no matter which Tier of membership they hold. Furthermore, the service could be blocked or restricted in these countries.

Apart from this, LATOKEN also states that for different reasons, it may restrict certain services in the countries where trading is permitted. This includes limiting access to alternative tokens on its trading platform to some EU and EEA residents, if they are not in compliance with applicable EU and local regulations.

9. Accessing LATOKEN through APIs

Application Program Interfaces, or APIs, are all the rage in the crypto trading community. A secure and manageable connection, an API connection provides better security compared to connecting directly to the exchange through a web browser over the internet. APIs also allow traders to use pre-built or customisable interfaces that are different from the ones offered by the exchange, and therefore suit their needs.

LATOKEN also supports the use of APIs. Like all of its services and options, setting up API keys is done in a few easy steps:

• Users need to head over to their Profile menu after logging in the exchange
• In the Profile menu, users will see the option of API Keys. Clicking it will take to the API creation page.
• Once on the API creation page, the user should click the Create API Key button
• Enter the label you wish to use to identify your API keys. Some traders use multiple API keys, but be warned this can get messy and confusing. Labelling them in advance helps avoid this confusion.
• Traders then must identify what kind of access the API keys will have for their accounts. The options available are Read Only, Trade on Spot, Trade and transfer from Wallet and Full access. The first two options are available for all traders. However, for the next two, traders must have passed the LATOKEN KYC. When the KYC is passed, these options are available automatically and users don’t have to apply separately.
• Clicking the Create API Key button will lead to the next step of verifying the user.
• LATOKEN will prompt for a 2FA key in order to complete the process. This can be either Google Authenticator or an SMS, depending on how the trader had set up the 2FA at the account creation stage.

On entering the six-digit code, the use will be presented with a screen displaying the public and private keys of the API access. Both the keys must be saved, as after the screen is dismissed, the keys will never be displayed again. In case the keys are lost, the user will need to delete them (for security purposes) and create new ones.

The API keys created can be viewed in the start of the API Keys section. An API can be removed by pressing the Revoke button of the relevant key. The keys will be deleted and APIs with the keys will not be able to access the user’s LATOKEN trading account.

10. Mobile App

Like all modern platforms offering services, the LATOKEN crypto exchange also offers its users the ability to trade on the go through their mobile app. Specifically designed for mobility, the interface has been adjusted for smaller and vertical screens of mobiles and still retains the efficiency and friendly interface of the main exchange. Through the mobile app, users can:

• View Live Exchange Rates: Users can analyse the cryptocurrency trends and watch prices as they change, helping them with developing a strategy even when not in front of a computer or a laptop.
• Trade Cryptocurrencies: Use the Market Tab to find current projects to invest in or go to the Trade Tab to trade or manage orders.
• Crypto Wallet: Deposit, exchange or withdraw funds from your built-in LATOKEN wallet.
• Multi Accounts: Access both the trading account and the fund account to either trade or send/receive cryptos.

Strangely, LATOKEN only has an Android mobile app and doesn’t yet offer an iOS version. Still, considering that the exchange has only recently launched the Android version, the iOS mobile app shouldn’t be too far off. Last year, LATOKEN was also mired by phishing scams on the Android version. Before it could even launch its own official app, there were cases of fake apps popping up on Google Play. Users of the exchange would unknowingly download the fake app and the developers of the app would note down their login credentials to siphon off their funds.

The mobile app has been downloaded more than 10,000 times so far. The relatively recent launch justifies such a low number of downloads. A total of 832 reviews on Google Play give it an average score of 4.9. Each review and comment made by users is promptly replied to by the exchange, with messages either thanking for their reviews or offering solutions to the issues faced -- meaning that the company is responsive to reviews and complaints on its app (which is something not all exchanges can claim!).

11. LATOKEN Security

LAOTKEN prides on its safety record. To date, the crypto exchange has not had a single hack or breach.

To protect the platform and its users, LATOKEN takes a number of extra security steps:

• Encrypted Private Keys: All LATOKEN wallet private keys are encrypted using industry leading AES-256 and stored offline, making it impossible for any person to hack into the LATOKEN servers and steal them.
• Cold Storage: Along with the strong encryption and offline storage of wallet private keys, LATOKEN keeps 99.5% of all user funds in cold storage, away from the prying fingers of hackers. The wallets are secured further with multi-signature technology.
• Secure Transmission: All incoming and outgoing traffic on the exchange is through the encrypted Transport Layer Security (TLS) and uses industry best practice of secure Hyper Text Transfer Protocol Secure (HTTPS) connection.
• Secure Passwords: All user passwords are saved on LATOKEN exchange using salted SHA-256, a modified version that is more resistant to brute force attacks.
• DDOS Protection: Employing a distributed architecture to store data and trading engines, LATOKEN can continue to operate even if a DDOS attack incapacitates one of its servers.
• 2FA Verification: All withdrawals and changes in account settings by users require verification through Two-Factor Authentication by default. This means only the account holders can execute these operations.

Although the exchange offers multi-layered security to protect the user data and funds, the exchange doesn’t have any mitigation action plans. Nothing is foolproof and even with all of its securities, there is always a risk of user funds being lost on any exchange. If not through a direct hack, then it could be through a phishing attack. LATOKEN has no insurance for its users and it’s advised to only trade if one is willing to take on all these risks.

12. Listing and Crowdfunding

LATOKEN is more than just a platform for trading cryptocurrencies. It has created an environment where it allows upcoming and other projects to get a chance to reach out to investors.

A modified version of the Initial Coin Offering that swept the crypto community a few years back, Initial Coin Offering (IEO) is a method of listing on an exchange and kicking off an investing round. LATOKEN works closely with projects where the goal is to launch tokens by creating an individual roadmap for each, and helping in designing/execution of a marketing campaign. This allows potential investors and traders to decide if they want to buy the tokens at a lower price than the market rate. The initial investment would lead to revenue generation for the project to start its development and at the same time, give the traders profits in terms of the tokens having a higher value when fully launched on the exchange.

A LATOKEN-verified and backed token launch is also a source of comfort for the trader in terms of the project being legitimate and having practical application in the future. LATOKEN has a strict check on the background of the project, including inspection of the project feasibility, the team and the whole proposed environment. This gives confidence to the users that the investments they will be making are more sound and secure than that of a generic ICO, where it is very difficult to determine if the project is real or a scam.

LATOKEN claims it is the number one IEO launchpad in the world, with more than 150 token launches successfully conducted on the exchange. Through its launchpad, the exchange gives the projects numerous other benefits, such as:

• Increased Exposure: Banners and announcements made directly and indirectly to LATOKEN users through different media, such as emails and banners on the main page.
• Viral Referrals: LATOKEN users are offered discounts when they give referrals to other traders who aren't on the platform. The secondary investors, who would otherwise not be able to take part in the launch can sign up on the exchange and invest in the tokens, giving more exposure to the project.
• Digital Roadshows: With access to the massive online roadshows of LATOKEN, the projects also get to show off their tokens and platform to potential investors all over the world.
• Mobile Trading: The LATOKEN exchange gives a further boost to the projects as traders are also able to invest in the tokens though the LATOKEN mobile trading app.
• Secondary Market Listing: With an IEO on the one of the most secure and trusted exchanges, the tokens are noticed quickly by other markets and the projects have a higher chance of being listed on other exchanges.

Interested projects and the teams can get in contact with LATOKEN’s dedicated IEO/listing team using this email.

13. LATOKEN Customer Service

As a crypto exchange that actively engages its users, LATOKEN offers a very simple-yet-effective customer support service. Users can contact the platform via the following touchpoints:

• Live Support: LATOKEN offers live support around the clock through the web chat feature on the bottom right side of each page on the website.
• Request Submission: On the top right of the exchange website, users will find a Submit a request Clicking it will take the users to the request page where they can select the type of issue being faced and provide a detailed description of the problem, along with any documented proof that can be attached. The user must also supply the registered email address as LATOKEN will only reply to an email entered in their database.
• FAQs: LATOKEN has an extensive FAQ section, with multiple sections and issues grouped together for easier access. Though the FAQ seems adequate, the information present inside is another story. Most of the FAQs are just a few lines in length, informing what should be done to tackle the issue and little information on how to tackle it.

14. Legal Compliance

LATOKEN is a global exchange with a local perspective. The exchange operates out of Singapore, but since it caters to countries all over the world, it has to take care of the local regulations at the same time.

In line with this philosophy, LATOKEN has an in-depth Terms of Use Agreement that all traders must acknowledge at the time of signing up. The agreement talks about user onboarding, deposits/withdrawals of crypto and fiat, fee and charges incurred, availability of services in different geographical areas, and suspension clauses.

At the same time, another document, the Privacy Policy, outlines how the exchange will collect data, including directly from the information the user gives at signup, and indirectly through cookies. The policy also informs users how and under which conditions the data is shared with third parties, such as financial institutions and law enforcing agencies.

LATOKEN has only one office through which it operates. The company is located in Malta. The office address is:

East Gate Offices, School Street, Msida, 1613, MT, Malta

15. Conclusion

As a crypto exchange, LATOKEN differentiates itself from others by taking the lead in helping out up-and-coming crypto projects. Where other exchanges are very slow to add tokens, LATOKEN actively seeks out and allows projects to connect with them, offering a turn-key solution to the project’s existing marketing and listing.

The exchange has more than 150 tokens under its belt which have been kicked off using its IEO launchpad, making LATOKEN the leading exchange in this sector.

LATOKEN users generally provide positive feedback on the exchange’s services. An impeccable record in security and offering a wide range of tokens to trade make it the perfect platform for investors looking to make safe and sound profits. The ability to use credit and debit cards for buying cryptos is another boost that allows new traders to gain access to cryptocurrencies and start trading.

One drawback is that it doesn’t have an iOS-based mobile app, which means a significant portion of the market is still untapped. In the fast-paced world of crypto trading, having quick access to one’s trading account within reach is a crucial advantage. Ignoring a large target market is a dent in LATOKEN’s offering.

The exchange is not overly complex in its interface or ordering, giving novice users a chance to trade without a steep learning curve.

Overall, the exchange is a good place to start off trading and making profits.

Cryptocurrencies have different levels of recognition by different jurisdictions. Users are advised to contact their local authorities to understand the status and be aware of what they are investing in and how much legal cover they will get if anything goes wrong. Cryptocurrencies are also highly volatile in nature and invested money can quickly dwindle. Invest at your own discretion.