Cryptocurrency has become a popular new addition to many people’s trading portfolios. Still, between taxes and fees, it can feel challenging to manage. For this reason, sites that allow people to pay less in fees are becoming quite popular. LATOKEN has numerous ways to reduce the impact of trading fees, including rewards for referring other traders.
Many cryptocurrency exchanges gain notoriety through word of mouth, but not all of them reward users for their contributions. LATOKEN ensures users receive rewards for referring friends. The site has an easy-to-use page that allows traders to invite friends via email.
When the invitee signs up for an account, both users receive a USD 50 credit.
The USD 50 credit isn’t paid out all at once; instead, the exchange pays the credit in increments when the new user pays fees on their platform. Anytime the new user deposits, withdrawals, or trades cryptocurrency, 25% of their costs are paid back to both wallets.
The exchange pays rewards for deposit and withdrawal fees after every applicable transaction. Rewards for trading fees are delivered daily at 0:20 AM UTC. This referral reward is a great way for new and experienced traders to save money on fees.
It’s important to note that users can’t create multiple accounts to receive referral rewards. The site will check to ensure each referral is unique. The exchange will cancel their referral rewards if users invite themselves using a referral link.
LATOKEN Trading Fees
Referrals aren’t the only way for LATOKEN users to reduce the impact of trading fees. The exchange’s fee structure rewards users who often trade on their site. Maker and taker fees decrease for users who trade significant amounts of capital in 30 days.
Users who trade less than USD 10,000 worth of cryptocurrency in a 30-day period pay roughly 0.49% in maker and taker fees. 0.49% is already a fair fee structure, but the costs get even lower when a user exceeds the USD10,000 threshold. For example, fees decrease by 0.10% for users who trade between USD 10,000-USD 50,000 in a 30-day period.
The fees become negligible for users who trade over USD 100,000 in a 30-day period at less than 0.19%. Power-users whose 30-day trading volume exceeds USD 20 million will pay no maker fees and only 0.04% in taker fees. Additionally, users can still earn a referral credit regardless of their fee tier.
Mobile users can further reduce their fees by disabling the site’s deposit fee. To disable the deposit fee, users simply visit the “profile & settings” section of the mobile app and click a button. Users can edit their default transaction speed in the mobile app if they wish to pay even less in fees. The higher the transaction speed, the higher the costs.