What is Unus Sed LEO? Things to know about the latest LEO coin 2020

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Unus Sed LEO (LEO) a cryptocurrency issued by iFinex, the parent company of Bitfinex, a cryptocurrency exchange that is frequently involved in controversy surrounding the USDT coin.

So…

  • What is Unus Sed LEO?
  • Should I investment and LEO token?
  • Buy and sell LEO tokens Where is the reputation?
  • Unus Sed LEO Wallet Which should be used?

If you are looking to find out Unus Sed LEO and potential invest LEO token then this article is for you.

What are you waiting for, let’s start the article!

Maybe you are interested: What is Bitcoin? Bitcoin investment guide for beginners?

What is Unus Sed LEO?

As mentioned above, Unus Sed LEO (LEO) is a cryptocurrency issued by iFinex, the parent company of Bitfinex and Ethfinex.

It was released on May 22, 2019 after raising an impressive amount of capital from investors, USD 1 billion.

Unus Sed LEO token plays an important role in operating the platforms of iFinex’s cryptocurrency ecosystem, including: Bitfinex exchange, EthFinex, EOSFinex, and Bitfinex derivatives platform…

Why was Unus Sed LEO token born?

2018 was a difficult year for Bitfinex exchange. Office New York City Attorney General accused iFinex of hiding a loss of $850 million.

According to the prosecutor, the funds were transferred to Crypto Capital Corp, whose office in Panama handles crypto withdrawals. Most of the funds that have been withdrawn are from Bitfinex customer funds. The prosecutor’s office argued that the reserves of Tether Limited, a company also owned by iFinex, partially covered the shortfall.

To convince and reassure investors, iFinex has announced a new token project that will partially cover the budget deficit.

In May 2019, Unus Sed Leo Limited was founded by iFinex, and entrusted with the creation and promotion of the cryptocurrency of the same name.

Features of Unus Sed LEO (LEO token)

There is an interesting feature that is Unus Sed LEO token Released on both Ethereum and EOS blockchain platforms. You can swap between these two tokens through Bitfinex exchange.

Maybe you are interested: What is Ethereum? Ethereum Basics for Beginners

Basic parameters of ERC-20 standard LEO token

Token symbol CLIMB
Blockchain Ethereum
Token Standard ERC-20
Contract 0x2af5d2ad76741191d15dfe7bf6ac92d4bd912ca3
Maximum total token supply 660,000,000 LEO
Total tokens in circulation 660,000,000 LEO

Basic parameters of LEO token on EOS blockchain

Token symbol CLIMB
Blockchain EOS
Maximum total token supply 340,000,000 LEO
Total tokens in circulation 340,000,000 LEO

Besides that Unus Sed LEO token There is no public sale like most other tokens, with an initial set price of 1 USD = 1 LEO.

What is LEO token used for?

LEO token has 3 main functions:

  • Bitfinex Budget Supplement
  • Expand opportunities for customers to use the service
  • Developing iFinex ecosystem

Similar to Binance coin (BNB) at Binance exchange, LEO token acts as an internal currency of the exchange. Users will receive a reduction in transaction fees as well as withdrawal fees when reaching certain holding milestones LEO token certain.

Besides, iFinex will buy back LEO token monthly at market price equivalent to at least 27% of the company’s previous month’s profit. Number LEO token used to pay transaction fees will also be destroyed.

Besides CLIMB is a utility token in the new services that iFinex intends to develop. These are derivatives Bitfinex, IEO platform IFinex, Dazaar, μFinex, Betfinex and EOSfinex.

How to own Unus Sed LEO token?

Do Unus Sed LEO Cryptocurrency exchanges are not open to the public and cannot be mined or staking, so the only way you can own this coin is to buy it on trading platforms.

Should invest in LEO token

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Present LEO token are being used mainly in the iFinex ecosystem and specifically to pay transaction fees or hold to enjoy discounts on trading fees on exchanges.

Application needs LEO token into practice or other areas is still very limited and open. Because it depends a lot on iFinex’s development plan.

Some points you need to pay attention to as it can impact potency LEO token investment:

  • The development situation of Bitfinex, Ethfinex, and iFinex ecosystem exchanges. As these exchanges develop and grow, the ability to pull the demand of LEO token increase. The most specific examples you can see are BNB coin and Binance exchange.
  • iFinex has issued all 1 billion LEO tokens after raising 1 billion USD. So you can implicitly understand that the LEO token price when it was first released was 1 USD. LEO token price currently located at 1.03 USD, while LEO token price The highest ever is 2 USD, the lowest is 0.8 USD. Can see the level LEO token price is currently relatively suitable for those who want to hold this coin for a long time.

You should learn as much information about iFinex as you can. Because this organization will greatly affect the potential as well as profit invest LEO token your.

Where to buy and sell LEO tokens?

Do LEO token is mainly used on Bitfinex exchange, so the best place to buy and sell when you need to trade this coin is no other exchange than Bitfinex.

However, if you do not like Bitfinex, you can choose some other reputable international exchanges. I will summarize in the table below, and have instructions for each floor.

Although the international exchange has the advantage of trading volume as well as high liquidity, the disadvantage is that you cannot trade in VND. Almost every transaction buy and sell LEO tokens All of you use USDT for transactions.

Currently, there is no VND floor that supports buying and selling LEO tokens, when there is new information, I will update this article.

Unus Sed LEO Wallet

Do LEO token Released on 2 different platforms, each platform will have different support wallets.

One point you need to keep in mind is to remember to choose the right LEO token when choosing a wallet, to avoid confusion with the LEOcoin symbol LC4.

Unus Sed LEO ERC-20 Wallet

Regarding the ERC-20 standard token, you are probably no stranger to it. If anyone is not familiar with this token standard, you can refer to the article: What is ERC20? Learn more about ERC20 tokens and ERC20 wallets.

With the ERC-20 standard LEO token, you can refer to a number of wallets depending on your investment needs such as:

Suitable for those who want to store LEO for a long time and have few transactions.

The advantage of cold wallet is that it is safe and optimal for storage. Cold wallets you can refer to to choose from are: Ledger Nano S, Ledger Nano X.

Maybe you are interested: What is ledger nano S cold wallet? Latest User Guide and Security 2020

The best choice for this wallet is Trust Wallet, with a friendly and easy-to-use interface.

Maybe you are interested: What is Trust Wallet? How to create a Trust Wallet and use details

This wallet is suitable for those who often buy and sell LEO because it is optimized for trading.

Some reputable exchanges that you can refer to are: Bitfinex exchange, OKEx exchange, …

Unus Sed LEO EOS Wallet

With the LEO token on the EOS blockchain, you can choose from wallets that support storing tokens issued on the EOS Platform.

For details, please refer to the article: What is EOS? Things to know about the latest EOS coin in 2020.

Conclude

This article has summarized the most basic information you need to know about Unus Sed LEO token. With this article, I hope that readers can grasp some of its investment potential.

Although it will take some time to read the entire article, I hope that your time will not be wasted.

If you find the article interesting and useful, do not hesitate to share it with your friends.

Good luck!

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