• Written by: Owotunse Adebayo
• Thu, 05 May 2022
•   Germany

In this article, we will be looking into the exciting offers that one of the famous crypto exchanges in the world, Bitfinex offers.

Bitfinex has a TOKEN! What is UNUS SED LEO? Is it a Good Buy?

What Is Bitfinex?

Bitfinex is a cryptocurrency exchange that has existed since 2012. The team behind this exchange first launched it as a peer-to-peer Bitcoin trading platform. Peer-to-peer or p2p is a way to trade by directly interacting with your peer. The exchange’s interaction is limited, making it decentralized for users. Many exchanges have p2p as a trading option, especially for users in countries with limited access to crypto-related services. Thanks to the various altcoins in the market, Bitfinex has a broader range of options for crypto investors. Because of the industry’s growth, many projects enjoy support from crypto enthusiasts, making the community bigger.

This trading platform has some of the space’s most popular coins, such as Ethereum and Litecoin. If you are looking for a platform that supports many assets and crypto-related products, you might want to check out this exchange. One of the business’s core missions is to improve a user’s trading experience. Users new to cryptocurrencies may find it challenging to navigate exchanges, so people need to enjoy the best trading experience. It strives to make available some of the best trading tools in the crypto space.

What makes Bitfinex different?

One of Bitfinex’s benefits is its low transaction fees. Low transaction fees are necessary for traders who want to profit in a volatile market. When fees are too high, trade may find it challenging to record significant profits, so it’s great to see a business that charges low fees. If you have mobile applications, you may appreciate Bitfinex’s mobile app option. While many platforms don’t have mobile apps, you can opt for Bitfinex if you need a platform that has an app, making trading more straightforward and more accessible, particularly for newbies. Mobile apps makes it easy to trade everywhere you go.

Unfortunately, Bitfinex has had some issues with law enforcement due to its involvement with Tether. In the past, Bitfinex and Tether were involved in suspicious activities, which may affect their integrity. It’s also not available to US traders, so you have to find another exchange that caters to US residents if you are in the United States. Also, Bitfinex has been fined by the US government due to its violation. It misled users regarding Tether reserves. There are some suspicions about Tether’s backing, which is still an ongoing debate. Still, you may enjoy the exchange’s easy-to-use interface and low transaction fees.

What is UNUS SED LEO?

This coin’s creation is linked to the regulatory issues Bitfinex had, which involved Tether. Creating LEO may be a way to regain the industry’s confidence. The coin allows users to enjoy discounts on lending, transaction fees, and other fees charged on the crypto exchange. Burns are common in the digital asset space. It’s a way to remove tokens from supply permanently. With this, the coins may record price growth as the supply decreases. It’s safe to mention that this has helped this exchange token achieve significant price movements.

LEO Price Prediction

Bitfinex has a lot of potentials and may become one of the industry’s top exchanges. Binance, for example, was not very popular during its early years and its market cap was low. It takes time to build a solid brand, which may be the case with Bitfinex. Today, Binance is one of the top 5 crypto exchanges worldwide. It now offers some of the best trading products and services, making it suitable for many users. Bitfinex may also become a top crypto exchange in the future, despite its turbulent past.

Conclusion