How and Where to Buy Unus Sed Leo (LEO)
Unus Sed Leo (LEO) was launched in May 2019 through an IEO (initial exchange offering) by iFinex, the parent company of Bitfinex, an established cryptocurrency exchange. iFinex created the $LEO token to cover a potential financial shortfall after the United States government seized funds held by Crypto Capital, a former Bitfinex payment processor.
What is Unus Sed Leo (LEO)?
As well as the purpose of recovering financial losses, the $LEO token provides additional advantages to iFinex users. The token also offers a range of benefits to $LEO holders on the Bitfinex trading platform. For instance, fee reductions include discounts on withdrawal and deposits, lending fees and taker fee reductions. There are three tiers of potential discounts, variable depending on the size of a user’s $LEO token holdings.
The name “Unus Sed Leo” is a Latin phrase from Aesop’s fables story, ‘the sow and the lioness’. The phrase translates as “one, but a lion”. The moral of the fable is quality over quantity, in that the courage of one lion club equates to greater than an entire litter of piglets.
What Makes Unus Sed Leo (LEO) Unique?
$LEO differentiates from other cryptocurrencies because it began with an end in sight. When iFinex launched the token, they did so because of concerns that the seized funds from Crypto World would be unrecoverable.
iFinex committed to buying back tokens from $LEO investors until no $LEO tokens remain in circulation. The company launched a transparency initiative committing 27% of iFinex gross revenues to buy back (at market rates) and burn the $LEO tokens. The company made a public statement confirming its intentions for the eventual demise of $LEO, “The burn mechanism will continue until 100% of tokens have been redeemed.“
iFinex opened a dedicated web page to document and track the progress of all $LEO tokens burned, thus enabling the crypto community to monitor the initiative. When all of the circulating $LEO tokens are burned, that will be the end of Unus Sed Leo (LEO).
Another unique feature is that Unus Sed Leo was issued on two blockchains. 64% of the initial supply was on Ethereum, and 36% went to EOS.
How and Where to Buy Unus Sed Leo (LEO)?
Bitfinex is an established, reputable cryptocurrency exchange with several payment options with some fiat currencies available.
- Register for an account with Bitfinex – it’s quick and easy to do
- Upgrade your account – full verification gives access to extended services on the platform, such as bank wire transfers
- Secure your account – with Google 2FA
- Deposit funds – You can fund your account with a bank wire to transfer funds (for fully verified Bitfinex accounts only). You can also deposit cryptocurrencies
- Open the exchange tab – look for the pair of your choice, which could be LEO/UST, LEO/USD, LEO/ETH, LEO/EOS or LEO/BTC and make your purchase
- Store your $LEO tokens – Bitfinex has an exchange wallet and a margin wallet for traders. Or, if you wish, you can store your $LEO in a suitable off-ramp wallet
How do I Sell Unus Sed Leo (LEO)?
It’s easy to sell your $LEO tokens on the Bitfinex exchange:
- Sell your $LEO holdings for a stablecoin like $USDT
- Transfer the $USDT to a reputable off-ramp platform like Coinbase or Gemini
- When the transfer has completed, convert the $USDT in your Coinbase or Gemini account to fiat currency and withdraw to your bank account. You can then enjoy the profits you’ve (hopefully) made on your $LEO investment
Should I buy Unus Sed Leo (LEO)?
After purchase, we advise storing your $LEO tokens securely in a cryptocurrency wallet. Bitfinex has an exchange wallet, while Gate.io has a cold storage wallet called the ‘S1’ and an exchange wallet.
Exchange wallets are custodial, meaning the exchange has access to your private keys because the wallet is on the exchange. Cold storage wallets are non-custodial and, being offline, considered a safer option.
How do I Invest in Unus Sed Leo (LEO)?
You can also buy $LEO tokens from Gate.io, an exchange with a 10/10 CoinGecko trust score. Look for LEO/USDT or LEO/BTC on the platform.