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LATOKEN

Latoken Exchange was founded in 2017 as a decentralized trading platform that allows users to trade a wide range of digital assets. This platform does not support fiat trading. However, on crypto-crypto pairings, there is margin swap trading as well as trading on leveraged perpetual contracts.

The exchange is built on a technology called directed acyclic graph (DAG), which is similar to blockchain but not identical to it. Let us take a complete look at the Latoken exchange review and how to file its taxes.

Connecting Your LATOKEN Exchange  To ZenLedger For Your Crypto Tax Documents

  • To import your transactions, log in to LATOKEN and copy your receiving address.
  • Paste the receiving address you copied from LATOKEN into the wallet address field in ZenLedger.
  • Select the proper coin from the dropdown list.
  • Select if the wallet is based in the USA or not.
  • Then hit add coin.

How Crypto Taxes Work?

Crypto taxes work by treating cryptocurrency transactions as taxable events. When you sell or trade cryptocurrencies, you may incur capital gains or losses, and these transactions are subject to taxation. The specific tax implications and rates vary by jurisdiction and depend on factors like the duration of asset holding and your income level. To fulfill your tax obligations, you need to accurately report your crypto transactions and consider using tax software or consulting with professionals for assistance.

For more information, read this article: A Step-by-Step Guide to Crypto Taxes

LATOKEN Exchange Tax Reporting Using ZenLedger

To report your LATOKEN transactions using Zenledger, follow these steps:

1. Connect and Import: Begin by connecting your LATOKEN wallet or exchange account to Zenledger. Import your transaction data, including trades and other crypto activities.

Connect and Import

2. Generate and Review Reports: Zenledger will automatically generate tax reports tailored to your jurisdiction. This includes reports on capital gains and taxable income. Review these reports for accuracy.

Review and Classify

3. File Your Tax Return: After generating the necessary reports, download the tax forms and documents required for your jurisdiction. Complete your tax return based on this information and file it following your local tax regulations. 

Generate and File

Will LATOKEN Exchange Provide me with Tax Documents?

Since customers send cryptocurrency in and out of exchanges regularly, the exchange has no tool to clearly identify by what means, the time, to where, or at what price you purchased these crypto assets. It merely checks to verify whether they’re in your account.

When you send cryptocurrency to or from an exchange, that exchange fails to provide you with an appropriate report describing the cost basis (price at which you acquired the assets) and fair market value (the market price at which you sold the assets) of your cryptocurrencies, which are both crucial elements for reporting taxes.

Fortunately, there is another option for investors to appropriately submit their taxes. ZenLedger easily calculates your LATOKEN taxes and also finds opportunities for you to save money and trade smarter. Let’s find out how to do your LATOKEN taxes with the help of ZenLedger.

LATOKEN’s Investment Options and Markets

LATOKEN offers three distinct investment programs for crypto enthusiasts: staking, DeFi coin deposits, and participation in crowdfunding projects. The process for investors is straightforward – you navigate to the relevant section on the platform, such as Staking, to explore the available programs. Choose the one that aligns with your goals and initiate your deposit. It’s a hassle-free process!

These programs vary in terms of the assets involved, minimum deposit requirements, duration, and interest rates. Your deposit is locked in for the program’s duration, and upon completion (e.g., after 30 days), your initial deposit along with the earned interests is returned.

For those interested in substantial blockchain ventures, higher minimum deposits and more attractive interest rates are offered, particularly when compared to regular staking. Notably, these investments carry lower risk as they revolve around projects incubated by LATOKEN itself, setting it apart from its competitors in the crypto exchange arena.

LATOKEN User Trading Requirements

Trading on LATOKEN is easily accessible as there’s no mandatory minimum deposit. To get started, register and complete the identity verification process. Once verified, you can instantly commence trading by depositing any cryptocurrency of your choice. LATOKEN supports deposits from various crypto wallets and e-wallets. The platform offers leverage for both margin trading and perpetual contract trading, with the specific leverage amount varying depending on the trading pair you select. Should you need assistance, you can reach out to their technical support team through a ticketing system or via email, as other communication methods are not currently supported.

The Bottom Line

LATOKEN is used by people from all over the world, with the majority of its users being from Australia, the United Kingdom, China, and Switzerland. The exchange has over 200,000 registered customers, making it one of the market’s fastest-growing exchanges.

  • LATOKEN is among the exchanges that accept a wide range of cryptocurrency tokens. The platform has 60+ recognized currencies and 145 trading pairs for digital assets on its marketplace since it is a key participant in the IEO space.
  • Users can deposit currencies straight from their wallets or use the credit or deposit mechanism to purchase supported coins.
  • Zero deposit fees
  • Reasonable trading fees and withdrawal fees.

ZenLedger easily calculates your crypto taxes and also finds opportunities for you to save money and trade smarter. Get started for free now or learn more about our tax professional-prepared plans!

Disclaimer: This material has been prepared for informational purposes only, and is not intended to provide tax, legal, or financial advice. You should consult your own tax, legal, and accounting advisors before engaging in any transaction.

LATOKEN Exchange FAQs

1. Is LATOKEN a good exchange?

LATOKEN Exchange was founded in 2017 as a decentralized trading platform that allows users to trade a wide range of digital assets. This platform does not support fiat trading. However, on crypto-crypto pairings, there is margin swap trading as well as trading on leveraged perpetual contracts.
The exchange is built on a technology called directed acyclic graph (DAG), which is similar to blockchain but not identical to it.

2. Which country uses LATOKEN?

LATOKEN is used by people from all over the world, with the majority of its users being from Australia, the United Kingdom, China, and Switzerland. The exchange has over 200,000 registered customers, making it one of the market’s fastest-growing exchanges.

3. How can I get the LATOKEN exchange tax report?

Since customers send cryptocurrency in and out of exchanges regularly, the exchange has no tool to clearly identify by what means, the time, to where, or at what price you purchased these crypto assets. It merely checks to verify whether they’re in your account. Fortunately, there is another option for investors to appropriately submit their taxes. ZenLedger easily calculates your KuCoin taxes and also finds opportunities for you to save money and trade smarter.