Latoken will charge you 5USD monthly, if you are not active.

[dunfida]

LAToken's been found many, many times to be a scam/fraudulent operation. You can google it and search for the Cointelligence research which digs up all the dirt about them.

Anyway, accounts charging you "maintenance" fees aren't a new thing. My bank also does it, the bastards. The only way to truly keep things in your control is to hold Bitcoin on your own wallet.

Its been suggested for a decade already but people do seem really likes to store up their coins in exchange wallets.
There are other good exchangers out there but people are really fan on using these non popular ones.Charging up $5
if the account is inactive? a bad move but i do consider out that maintenance fee and since the user isnt active for that long
then he probably makes their exchange account as their main wallet.

You would really avoid all of these fee problems if we do just indeed store it on our own non-custodial wallets.

[harizen]

But what if a user doesn't want to trade yet. Maybe much better if they can modify the terms to 6 months offline even without activity. That's where we can say that the account is really inactive as it's difficult to imagine that within 6 months, no active session is recorded.

I have some eth and usdt balance on latoken, I have held it since three months ago, also I rarely been active on latoken since the pandemic outbreak. Until now my balance is still the same amount, not reduced. Maybe I should ask to the support center directly for clarification about this issue

As per OP's, 6 months of inactivity (without doing trades, deposit, withdraw, etc). So you won't see any deduction to your balance now. But if you make trades along the way, you don't have to worry. Or if you are not planning to use them, or maybe you think that you will never use them, then withdraw your funds there now.

[shield132]

stompix
At some point I don't really like that news but on another hand, it's a good lesson for some people - don't hold your money on exchanges. This exchange, roughly, tells you that.
But on another hand, one idea came to my mind after seeing this thread.

We all know that a lot of bitcoins are lost and losing very often. It would be nice to have a network where people with inactive accounts would lose coins and then they would become miserable. For example, imagine: User A has 10 bitcoin and lost his wallet, this coins are lost forever, but... Every year 1/5 of the original amount (that is calculated by what was the amount after 364 days inactivity) cuts, e.i. 2 bitcoin has been cut. Next year, we would have 2/5 of original amount cut if wallet is still inactive and no one has made any transaction via it and finally after 5 year, this wallet is left without coins and these 10 bitcoins are reminded by miners.
Idk, maybe someone already had this idea but still just writing.

[thesmallgod]

It has gotten so bad for Latoken that they now charge users for in-activeness. While there counterparts are improving their platform in order to keep the platform running and attract more users Latoken is doing otherwise. If the cost of running the platform is getting to high, while cant they re-evaluate the platform and drop some of their feature. Just like binance, they also launch their DEX platform  https://latoken.com/dex when there lot of controversy surrounding the CEX. They have lost their decency long time ago 

[stompix]

stompix
At some point I don't really like that news but on another hand, it's a good lesson for some people - don't hold your money on exchanges. This exchange, roughly, tells you that.
But on another hand, one idea came to my mind after seeing this thread.

We all know that a lot of bitcoins are lost and losing very often. It would be nice to have a network where people with inactive accounts would lose coins and then they would become miserable. For example, imagine: User A has 10 bitcoin and lost his wallet, this coins are lost forever, but... Every year 1/5 of the original amount (that is calculated by what was the amount after 364 days inactivity) cuts, e.i. 2 bitcoin has been cut. Next year, we would have 2/5 of original amount cut if wallet is still inactive and no one has made any transaction via it and finally after 5 year, this wallet is left without coins and these 10 bitcoins are reminded by miners.
Idk, maybe someone already had this idea but still just writing.

Yeah, a lot of people have had this idea   especially with the "threat" of Satoshi's coins ever hitting an exchange and crashing the price or with the other "threat" that we will run out of bitcoins. Different forms, from burning them to redistributing them, all of them basically match your idea of not moved coins for x time getting lost for good.

The problem with it is that it will force people to move their coins, imagine a million more transactions so you don't love your coins, it will make people more reticent to buy bitcoins, what if your get in an accident, in prison, in whatever and you can't move your coins and you lose your money. It will simply add one more inconvenience to newbies who already have a hard time using their own wallet and not an exchange.
Do I have to add that in all the threads the feedback was overwhelming negative?  

[MCobian]

The new policy is carried out by Latoken exchange by giving a 5 USD monthly charge, if our account is inactive for 6 months
is a bad policy in my opinion. Without a new policy, investors have begun to avoid Latoken exchange. Because Latoken exchange
is famous for fake volume and fake IEO. Now with this new policy I'm sure Latoken exchange increasingly avoided by investors.

[logfiles]

Another shit crypto exchange. Never used it, Never will... and guess what? I gained nothing and lost nothing.
This is a stupid policy IMO. It kind of reminds me of banks and the whole centralized and fucked up government systems that we are trying to run away from. Shame on Latoken.

[michellee]

I have some eth and usdt balance on latoken, I have held it since three months ago, also I rarely been active on latoken since the pandemic outbreak. Until now my balance is still the same amount, not reduced. Maybe I should ask to the support center directly for clarification about this issue

I think you should withdraw your funds before Latoken charge you $5 for their services. I don't think that is a great idea to apply some fees for an inactive account because traders will have their freedom to use any exchanges to trade. You don't need to ask to the support centre, but you can move your fund before it's too late, and you should pay the fee. I prefer to move my funds to another exchange which don't use any fee.

What a load of crap from Latoken. They should have foreseen this would have a negative impact on their reputations and it will slam on their users. The only reason I can immediately think this is happening is that they must not have enough traffic and this might have been a plan to try to maintain a supply of funds from their customers and if that's the case, this has been tackled wrong.

I guess they don't even think about that. If they think about their reputations, they will not do that because if they check on the other exchange, they don't apply any fee except the fee for transaction and trading. Doesn't have enough traffic can be their reason to do that but I don't think that would be a problem for them since if they can have many members who trade on their site, that can cover their fee, especially to promote their website.

[qory]

Bad rule and bullshit exchange if needed $5 to active our latoken account, I think its the first time of exchange market need for member to activated their account by purchase $5, I got this notification on email and look surprises whats going on with this site and how to recommended to be good exchange without get payment fees.

[masterrex]

What the**? thats ridiculous for me that was unacceptable and too much it's better to leave that shitty exchange It's not worthy to stay there, instead of wasting any of our resources with Latoken exchange It's better to use those popular crypto exchange with a good volume and not charging any unnecessary hidden fees I'm using Binance since 2017 but I was never charged any fees because I'm not active.

[amonymous]

bullshit exchange with totally unless to me
Although i never hold fund latoken exchange in fact totally i have no account on in latoken exchange. Why should I accept this exchange? Even Instead there are many better exchanges in this crypto market.
Therefore if you have hold any fund in latoken exchange then keept withdraw now and putting binance exchange for your long term hold.

[cabron]

Well it's a good thing that latoken is known to be a shit exchange that less people are there.  Its reputation isn't that good anyway, so they might as well do their worse. The tokens which did an IEO over there didn't perform well and although I have joined a campaign to some of these tokens, I didn't register to the exchange. So i guess its true what they say about it.

Do they link to the rules they are implementing regarding this inactive accounts monthly fee?

[timmmers]

bullshit exchange with totally unless to me
Although i never hold fund latoken exchange in fact totally i have no account on in latoken exchange. Why should I accept this exchange? Even Instead there are many better exchanges in this crypto market.
Therefore if you have hold any fund in latoken exchange then keept withdraw now and putting binance exchange for your long term hold.

The only reason why this exchange exists because there are a lot of sh*tcoins and people believe in them, I mean that Latoken list everything to collect fees for lisitng and thats all, they do not care about the quality of the project, like Binance does.

[Yamifoud]

snipped~

The only reason why this exchange exists because there are a lot of sh*tcoins and people believe in them, I mean that Latoken list everything to collect fees for lisitng and thats all, they do not care about the quality of the project, like Binance does.

That fees give them a reason to live and the existence of shitcoins on their platform will be helping them either.
Well, I don't think that people had read that particular fee upon registration. It was just surprising how traders or holders could afford to keep their money on there knowing the risk and that fraudulent issues that Latoken have.

they do not care about the quality of the project, like Binance does.

They probably don't care about their reputation, only they need to fool the community and get some money out from us.
That makes me Latoken out from my sight and not even to consider this platform since before.

[noorman0]

Leave this exchange out and never return, more worrying is that when you make a deposit one time, your balance will be deducted for as many months as you were inactive. In addition, many shicoins that are still listed there are no longer possible to trade. That is why this exchange began to fall into poverty and had to collect funds from users with unreasonable reasons to try to cover the salaries of their employees.

[Renampun]

This is the wrong policy...
I'm sure Latoken users will be drastically reduced because of this rule, LATOKEN's reputation is not very good, so I'm sure there aren't many people who do active trading there, even large exchanges like Binance don't make rules like this.

[justdimin]

When you create an exchange for the sole purpose of listing coins that are unlistable in other places, these kinds of complaints will happen. There are so many useless and horrible coins there that even the project owners of those coins would rather be listed somewhere else if given the chance but they can't and their only option is here so they take it instead of being exchangeless.

With the increasing number of IEO's and so forth, I think it is getting lesser and lesser to see these kinds of exchanges, eventually we will have DEX where many coins will be listed and the big centralized exchanges and that will be it, all these small centralized ones will not get any attention since DEX is not liked because of low volume but these ones do not have proper volume neither which will cause people to move from small exchanges to DEX ones.

[bittraffic]

It should mean one thing. It's never safe to put your coins inside an exchange no matter how small it could be, because when you and inactive for years, you may not have anything left there. exchange addresses are not wallets.

Lets summarize which exchanges collect fees for inactivity because it would be helpful if it would be on one place.
So latoken, exmo, bitfinex, coindirect, coinbank, crypto.com have written in the terms that you will be charged a fee when you are inactive for a longer time.

All of them, even bitfinex does it?  I thought they are decent enough that they make money because they rank up and have enough volume to that exchange.

[abel1337]

I think this is a marketing strategy for them to force their users to use their exchange, This is a very bad move especially they are not that big and reputable exchange. The users will more likely avoid this exchange because of this forceful act. They are just making their users run away from them 

To think of that they aren't a big exchange, They are possibly not making such a decent amount of profit and commission from their exchange so they are forcing users to use their exchange. This is a very bad move for them.

[hulla]

I think this is a marketing strategy for them to force their users to use their exchange,

No, this is totally another strategy for them to make more into their pockets since people dont invest/trust the IEOs launch by them. Besides, nothing make them different to banking system and despite the previous accussation about the exchange site with the inclusion of this one i dont think a genuine crypto trader/investor will use the exchange site.