What is UNUS SED LEO: Where & How to Buy LEO in Australia
UNUS SED LEO was just added to BitFinex on May 20, 2019. It was founded as part of iFinex, to extend the capabilities of its platform and services. The technology is based on the Ethereum network, which means UNUS SED LEO is also an example of ERC20 tokens. And like many other cryptocurrencies, it has a goal to become a digital form of value too.
According to Coin Market Cap, UNUS SED LEO has a current supply of 999,498,892. Its last known price is at $1.24 USD and is up 4.31% over the day this article was being written. It is thriving pretty well in the market, and there’s no reason not to try it.
But first, here’s everything you need to know about UNUS SED LEO.
What is UNUS SED LEO?
It is a utility token for the trading platforms and commercial services of the iFinex companies, which is why when using it on BitFinex and EthFine, users will get discounts and will be charged less fees. Note that Bitfinex is a renowned cryptocurrency exchange platform, creators of USDT (Tether).
This cryptocurrency was released last year. Although the token was launched by iFinex, Bitfinex was in charge of its development.
Bitfinex announced that its ICO (Initial Coin Offering) raised a billion dollars in what was its first IEO (Initial Exchange Offering). After this private sale, in which a total of 1,000,000,000 LEO tokens were sold at $1 per unit.
Its price at the time of publication is $1.20 USD and in its relatively short period in the market, it has reached nothing more and nothing less than the 15th position in the market capitalization ranking according to CoinMarketCap.
One of its peculiarities is that this token has been launched on two blockchain platforms. The LEO team decided to adopt an innovative dual protocol approach. UNUS SED LEO was launched on Ethereum and EOS, a decision that provides benefits such as greater flexibility and ease of use for token holders and support for protocols.
The acquisition of UNUS SED LEO is completely legal and even encouraged by the crypto community. In fact, very few countries establish prohibitions to buy cryptocurrencies, thus giving more room for the adoption of new tokens and blockchain technology applications.
Regarding the legal framework for cryptocurrencies in Australia, it should be noted that on September 20, 2018, the country announced the withdrawal of double taxation of digital currencies, which meant the end of the recording of this type of transaction.
● Australians registered with Bitfinex and store LEO on the platform will enjoy 15% reduced fees when trading between cryptocurrencies, including stablecoins.
● An additional 10% will be applied to this reduction if the number of tokens in possession exceeds 5,000.
● For those with huge amounts, exceeding USDT million in LEO tokens, the reduction will be even greater. The maximum fee reduction will apply to users who hold USD 21 million in LEO on the platform.
Buying cryptocurrencies is legal in Australia and almost every country in the world, especially now that a trillion-dollar cryptocurrency market has been established. Australian residents will be able to choose their favourite digital asset in the crypto market and make use of their tokens at will.
The fascinating thing about cryptocurrencies is not exactly their value in a market but the technology under which they work. Each token, (although it can share networks with another) is a unique project and provides advantages in different fields. Not to mention the fact that you can transact remotely at minimal commission rates (if any).
UNUS SED LEO is available in multiple exchange companies, which you can access to exchange Bitcoin in Australia for this token (or any other). However, it is a tighter option for experienced investors due to the different options and trading services. For those who are still understanding the concept of cryptocurrencies and transactions, it is better to participate in a local platform such as Easy Crypto Australia (AU).
The purchase process is very simple since Easy Crypto AU allows you to buy the cryptocurrencies listed directly with the local currency (AUD in this case.) After completing the transaction, the tokens will be credited to your wallet and you can have them as you wish.
It is necessary to know that these tokens can be burned (destroyed), which is why Bitfinex has been trying to recover almost all LEOs. Repurchase and burning of LEO tokens will reduce the total supply of the token, possibly leading to an increase in its price in the future. This is expected as it will result in a volume-weighted average price (VWAP).
So, users who manage to buy and save LEO tokens today are getting involved in a good long-term investment, even if they don’t know it. This is very convenient considering that the price of these tokens is a little more than $1.
Now that you finally know everything about UNUS SED LEO, how do you feel about trying it? Do not hesitate to contact Easy Crypto team if you want to buy UNUS SED LEO in Australia.
We are always ready to help.