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

Jawhead999

legendary

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Quote from: TopTort777 on May 27, 2020, 07:27:18 AM

What will happen if user have balance more than 0, but less than 5$ ? He will have a negative balance then?

Maybe Latoken will still deduct the rest of it until the balance is 0, and they didn't make your account have a negative balance. You can read in pict 2

Quote

If there are no funds on the user balance then nothing can be or will be deducted

Thanks for @OP to share this information, especially for those who using Latoken exchange. I wonder why many people still leave their funds in exchange, it's not safe to trust the third parties (exchange), just leave it on your wallet (e.g. electrum, trezor, ledger). Even you have using strong password, Two-factor authentication, and secured email on the exchange. If the exchange got hacked, you can't do anything unless they "can" fix the issue.

Just for reminder the trusted MtGox exchange got hacked and collapse Bitcointalk history of MtGox and how a Bitcointalk post caught the MtGox hacker.

Reatim

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Quote from: timmmers on May 27, 2020, 05:41:24 AM

Be careful guys, those who hold funds on Latoken exchange and not trading, you will be charged 5USD monthly.
Look they officially send it through email and confirmed on Telegram.

I think that they officially bury themselves.

What the Heck,they are just pushing their users to find another good exchange without forcing them to pay while they are away from their keyboards.

I assume that starting this day,La token users are getting their fund inside that platform and putting to Binance or other exchange without this bad style of maintaining their Platform costs

Quote from: TopTort777 on May 27, 2020, 07:27:18 AM

What will happen if user have balance more than 0, but less than 5$ ? He will have a negative balance then?

Anyway that is the great way to officially steal funds. Lots of airdropped or small projects altcoins are often traded on Latoken. Sometimes altcoins value is so small, than it is impossible to withdraw them. Now these funds can be officially "taken" from users account. Great.

seems like extortion lol,they are forcing people to take their slices from the income of every users,imagine just in 1 month time?what if you need to have something to do in life?for example 1 year then they will take 60$ just for that absence?

TopTort777

legendary

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What will happen if user have balance more than 0, but less than 5$ ? He will have a negative balance then?

Anyway that is the great way to officially steal funds. Lots of airdropped or small projects altcoins are often traded on Latoken. Sometimes altcoins value is so small, than it is impossible to withdraw them. Now these funds can be officially "taken" from users account. Great.

timmmers

sr. member

Activity: 1176

Merit: 265

Quote from: stompix on May 27, 2020, 07:13:17 AM

Quote from: timmmers on May 27, 2020, 06:56:13 AM

I do not see any reason why I should start using Latoken exchange. I do not trust them at all, look how they behave, fake IEOs, fake volume and now charge for nothing?

Neither do I but you're the one receiving emails from them.

Quote from: timmmers on May 27, 2020, 06:56:13 AM

Binance is the biggest and most safest exchange and its free!

There is no such thing as most "safest", and I wouldn't trust Biannace with a satoshi, especially after their flight from Japan and then from Malta when they couldn't abide the laws, nor will I trust any exchange with anything, I go by the principle "not your keys not your coins".

Quote from: DoublerHunter on May 27, 2020, 06:47:23 AM

That is why we should read first the "TERMS OF USE AGREEMENT" in every exchange platform.

Funny thing is that the fee is not mentioned anywhere in their Terms or in the Fee panel.
https://cdn-new.latoken.com/common/files/terms-of-use-v2.pdf
https://latoken.com/fees

But let's be serious, who read the terms before signing up? 0.0001%?

I was an early ICO investor, glad to see that my LA tokens worth less than 5USD, so I don't have to do anything. Grin

And I forgot about their never ending LA airdrop, how they secure free advertisement... Many problems conected with this exchange.

stompix

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Blackjack.fun

Quote from: timmmers on May 27, 2020, 06:56:13 AM

I do not see any reason why I should start using Latoken exchange. I do not trust them at all, look how they behave, fake IEOs, fake volume and now charge for nothing?

Neither do I but you're the one receiving emails from them.

Quote from: timmmers on May 27, 2020, 06:56:13 AM

Binance is the biggest and most safest exchange and its free!

There is no such thing as most "safest", and I wouldn't trust Biannace with a satoshi, especially after their flight from Japan and then from Malta when they couldn't abide the laws, nor will I trust any exchange with anything, I go by the principle "not your keys not your coins".

Quote from: DoublerHunter on May 27, 2020, 06:47:23 AM

That is why we should read first the "TERMS OF USE AGREEMENT" in every exchange platform.

Funny thing is that the fee is not mentioned anywhere in their Terms or in the Fee panel.
https://cdn-new.latoken.com/common/files/terms-of-use-v2.pdf
https://latoken.com/fees

But let's be serious, who read the terms before signing up? 0.0001%?

timmmers

sr. member

Activity: 1176

Merit: 265

Quote from: stompix on May 27, 2020, 06:25:59 AM

Quote from: timmmers on May 27, 2020, 05:41:24 AM

I think that they officially bury themselves.

Quote from: minairia3 on May 27, 2020, 06:16:38 AM

Im seeing their platform will go down soon or will close eventually due to this move.

Why do you guys think so?
Who are they going to lose, clients that are not making a trade/deposit/withdraw fro 6 months? How can you even call them clients?
From the start, why would you leave money there for more than 6 months and do nothing, why leave coins on an exchange for that long?

Quote from: minairia3 on May 27, 2020, 06:16:38 AM

Its like they imposing some ground for not being actively trading there, so by any chance that you not logged in to do some trade, they will automatically deduct $5 fee every 6months?

It's 5$ per month, every month after the 6 inactivity months. And only if you have a balance.

I do not see any reason why I should start using Latoken exchange. I do not trust them at all, look how they behave, fake IEOs, fake volume and now charge for nothing? Binance is the biggest and most safest exchange and its free!

DoublerHunter

hero member

Activity: 2590

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Quote from: stompix on May 27, 2020, 06:25:59 AM

~snip~
It's 5$ per month, every month after the 6 inactivity months. And only if you have a balance.

^ So, it is quite clear here that why you are leaving your fund there in Latoken exchange in that quite long. Remember that don't leave funds in any exchange, after trading you may withdraw them all. I think that is good if their clients know what is going on in that platform, they should not leave fund and that is not the fault of Latoken exchange if they were deducted after 6 months inactive. That is why we should read first the "TERMS OF USE AGREEMENT" in every exchange platform. Nevertheless, in my own opinion. This exchange is not recommended to use.

stompix

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Blackjack.fun

Quote from: timmmers on May 27, 2020, 05:41:24 AM

I think that they officially bury themselves.

Quote from: minairia3 on May 27, 2020, 06:16:38 AM

Im seeing their platform will go down soon or will close eventually due to this move.

Why do you guys think so?
Who are they going to lose, clients that are not making a trade/deposit/withdraw fro 6 months? How can you even call them clients?
From the start, why would you leave money there for more than 6 months and do nothing, why leave coins on an exchange for that long?

Quote from: minairia3 on May 27, 2020, 06:16:38 AM

Its like they imposing some ground for not being actively trading there, so by any chance that you not logged in to do some trade, they will automatically deduct $5 fee every 6months?

It's 5$ per month, every month after the 6 inactivity months. And only if you have a balance.

minairia3

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I think this is not a good way to support their maintenance cost of their platform. How come they will ask users dor payment due to none active? This is not fair, thanks for sharing this, another reason why users should avoid using this exchange. This should not implement on users cause. Its like they imposing some ground for not being actively trading there, so by any chance that you not logged in to do some trade, they will automatically deduct $5 fee every 6months? Wth, its like they even have bigger fee to credit cards that have annual fee.

Im seeing their platform will go down soon or will close eventually due to this move.

timmmers

sr. member

Activity: 1176

Merit: 265

Be careful guys, those who hold funds on Latoken exchange and not trading, you will be charged 5USD monthly.
Look they officially send it through email and confirmed on Telegram.

I think that they officially bury themselves.

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