LEO Coin is an ERC-20 token based on the Ethereum network, which means that the tokens can be stored securely in any wallet compatible with these standards. These smart contracts allow you to purchase real-world goods and services from merchants worldwide while still receiving all of their benefits like decentralization or encryption for security purposes.
When you pay for something using LEO coins, your payment is split between the merchant and all LEO nodes processing the transaction. This way, LEO doesn’t rely on anyone node for consistency or correctness – instead, it uses consensus algorithms to ensure trustworthiness at all times.
The LEO token aims to make e-commerce cheaper by eliminating fees paid to third parties like credit card companies. Its low fees combined with privacy protection means that LEO coins are perfect for online shopping purchases.
How to Buy LEO Coin
The best place to buy the coin is through an online cryptocurrency exchange. LEO coins trade under the ticker symbol “UNUS SED LEO” in exchanges. The coins can be purchase using fiat currencies like USD, INR, CAD, EUR, etc., or cryptocurrencies like BTC, USDT, MXR, ETH, etc., depending on which platform you use!
Crypto exchanges where the coin can be purchased include; CCEX, Crytopia, Livecoin, Novaexchange; the most active exchange is Bitfinex.
You can take the following steps to purchase the coin:
#1 Sign up for an account with a crypto exchange that supports LEO Coins: To buy the coin, you’ll need to have an account with a crypto exchange that supports LEO coins. Remember, most exchanges will require a phone number/email address and proof of identity before registering for an account.
#2 Verify your account: This process should be easy. You’ll need to verify the email, phone number, and identity information you imputed during sign-up. You can go to your account settings and provide the relevant supporting information and documentation required to verify your account on the exchange platform.
#3 Funds into your account: You can decide to fund your account using a credit/debit card or use cryptocurrency. After funding, you can buy LEO coins depending on how much is in the wallet!
#4 Have a wallet to store your token: You’ll need an external wallet to store LEO coins in once you have purchased them. It’s recommended that you use a wallet to receive, send, and store LEO tokens safely. You can use a free UNUS SED LEO Wallet by Lumi wallet available for web, android, and IOS devices.
History of LEO Token
LEO (symbol: UNUS SED) is an innovative token that was created in May 2019 by the company iFinex, as the exchange token for Bitfinex. The main purpose for this new cryptocurrency was to help cover their financial deficit after Crypto Capital saw some of its funds being confiscated by government regulations.
The developers of the project designed it in such a way that they could generate one billion tokens. These coins will be used for three main purposes:
- Replenishment on the Bitfinex budget
- Expanding opportunities for service customers and employees
- Developing an ecosystem across multiple iFinex platforms
The initial coin offering (IEO) raised $1 billion through 1 billion $LEO tokens sold for 1 USD each. Uniquely, iFinex decided to release the token in dual-chain format. Out of the total 1 billion supply, 660 million were released on Ethereum and 340 Million on EOS.
The LEO token gained in value immediately after it was listed. It traded up to $1.98 on June 11, 2019. LEO was listed on OKEx, and traders were optimistic about adding the token to their exchange. The token dropped from there and was trading below $1 in October 2019. The token remained low through April 2020. However, it recovered to trade above $1 again and hasn’t fallen below $1 since. It has been steadily rising throughout 2020 and 2021.
In conclusion, it’s important to reiterate that:
If you want to purchase or trade on the token, the best place is through an online cryptocurrency exchange like Bitfinex, where it trades under the ticker symbol “UNUS SED LEO”. It is important to remember that the coin is owned by iFinex, a private-held financial technology company in the British Virgin Islands.
LEO Token FAQ’s
Is Leo Token Mineable?
No. LEO token coins have a consensus mechanism. These tokens have been created with the None algorithm, which means you cannot mine your coins in any way, and they must exist on an exchange.
What are the risks of LEO Token?
The main risk with LEO tokens is that they may become more valuable or less in the future. However, as long as there are people who want to use these coins and purchase products from a company running on the Ethereum Blockchain network, it will continue to exist because of demand from users!
Is LEO Token a good investment?
According to Economywatch.com, LEO Token has risen by 4.8% despite negative figures on other digital currencies. It could be a good investment, but you need to carry out more research.
What are the benefits of the UNUS SED LEO Token?
– Reduced fees of up to 15% on Bitfinex for all pairs of cryptocurrencies
– Holders of UNUS SED Leo tokens get a discount of 0.05% for every 10,000 USDT in the possession during the previous month.
– Token holders of the coin above 50 million get a 25% discount on deposit and withdrawal of cryptocurrencies.