omg. I just wrote the question about tokens distribution to the Telegram group and then admins just banned me
For what?
This is just a scam trust me.
To this day, Latoken have not provided concrete evidence or documentation that presents viable token economics which justify the value of the token and its title of "utility token", although they are constantly trying to convince users that it is one.
Latoken's User Experience is average. No KYC is required to start trading (a bonus for some and concern for others) and the website quality is fair. Customer support are quick to reply and answer your question but the platform's performance is average at best: many outlets claim Latoken is reporting fake volume numbers which are coordinated by the exchange itself to boost its rankings. If true, it must mean that the representation of the platform's performance is questionable - The trade matching engine might appear to withstand a heavy load, but if and when "real" volume comes along we have no way of determining if the infrastructure upon which the exchange is built is capable of handling such situations without hiccups.
Features on Latoken are lacking; While there is a wide range of coins to trade, the vast majority of them are illiquid, and if the volume-faking reports are to be believed, then these pairs might even have no liquidity at all. The exchange offers no other trading options other than spot trading and no mobile app, and its only real extra feature is the ability to purchase crypto with a credit card.
The Latoken team is large and most are based in Moscow. Latoken employees are detailing the sad reality of working at the company: Daily scrutiny from higher ranking employees, a mafia-like behavior by top executives and unheard of business practices endorsed by the company. After cross-examining these type of reports from many different sources, I believe the human factor at Latoken is unworthy of doing business with.
Latoken manages to create a considerable social media presence, providing promotions to encourage trading, listing new coins frequently and maintaining several communication channels.
Trust in Latoken's ability to safeguard user funds is extremely low. While they were never hacked, Latoken's regulatory status is quite unclear: it is incorporated in Singapore, where crypto laws could be seen as a bit "loose". They do keep some user funds in cold storage, although they don't mention how much. Additionally, there seems to be a significant amount of users who report that the exchange is making it hard for them to withdraw their money, with the withdrawal system either not working or withholding user funds altogether, and no real help offered or given by the customer support team. Something in the "let-users-withdraw-their-own-money" workflow is broken or at least not functioning as well as it should, and it also might even be a deliberate attempt by the exchange to take money out of users’ pockets.
