Crypto assets ate known to be volatile as their prices may go up or down at a moment. UNUS SED LEO is one of the numerous cryptocurrencies today that is volatile.
Investment in cryptocurrencies today is very risky than in the last 365 days as a result of a meltdown in the crypto industry. Some crypto projects are already fading away so it is important to know the crypto assets one is investing in this time.
Averse-risk takers are still making moves on Bitcoin and some altcoins. In this post, we’ll discuss if UNUS SED LEO is a good one to buy/invest in today. Before then, let’s know more about crypto investment.
Things To Know Before Investing in Cryptocurrency
Here are important things to know before putting your money on cryptocurrency. They are listed below;
1. Learn About Crypto Timing
Cryptocurrencies are known to be volatile so the prices are always up and down. For you to invest and earn rather than lose all, you need to ”buy the dip”. This is buying crypto coin when the price falls.
2. Watch Out For Fraudsters/Scammers
You have to be watchful as you may come across a lot of hype around an investment strategy that promises huge returns from obscure crypto assets. Many have lost huge investment to Ponzi schemes. You’ll need to learn more about how a crypto coin and its investment works before putting money into it.
3. Do Your Own Research
It is very important that you do your own research on a token or an exchange before investing in crypto. The study of the white paper of any of the token your are investing can also be of help when you decide to trade crypto.
4. Build an Investment Strategy
Successful investors devise a plan for their cryptocurrency assets. Some crypto exchanges also allow you to copy the moves of established traders in the crypto market. This will be of help in taking the right step.
5. Pick a Good Crypto Exchange/Platform
A good crypto exchange or peer-to-peer platform like Prestmit is important for your crypto deals. You’ll need an exchange that is trusted and safe for your investment. Whether you are a beginner or not, the platform to use must be easy and fast for your transaction. You need to study the exchange/platform to use before putting in your hard-earned money into a high-risk investment.
What is UNUS SED LEO?
UNUS SED LEO is a utility token that’s used across the iFinex ecosystem. The unusual name is based on a Latin citation from one of Aesop’s fables.
It was launched in May 2019 as a cryptocurrency allows Bitfinex users to save money on trading fees. UNUS SED LEO was founded by iFinex after Crypto Capital, the company that processed its payments, saw part of its funds seized by the government. IFinex is the parent company of Bitfinex, which warned that it may not be possible to recover these funds.
The company’s token trades by the symbol LEO. The token was created to cover the financial shortfall after seeing the company’s fund seized by the government.
What Makes UNUS SED LEO Unique?
Bitcoin is the first launched cryptocurrency and has had thousands of digital assets created like it. This means that crypto assets have things in common e.g. decentralization, volatility, to mention a few. They are however unique in their own way as they created to solve a problem.
As for LEO, iFinex is committed to buying back UNUS SED LEO from the market on a monthly basis. The amount that’s purchased and burned is equal to at least 27% of the revenues generated by iFinex — and tokens are also purchased at the market rate.
While some cryptocurrencies just launch on a single blockchain, LEO tokens were issued on two blockchains. 64% of the original supply was on Ethereum, the remaining 36% could be found on EOS.
What is the Worth of UNUS SED LEO in the Crypto Market Today?
UNUS SED LEO is listed among the top 20 cryptocurrencies today. LEO is ranked 18th among thousands of crypto assets by CoinMarketCap as of writing.
The current price of LEO is $5.58 USD with a 24-hour trading volume of $3,679,598 USD. It is up 5.22% in the last 24 hours.
The live market cap of LEO is of $5,318,693,054 USD. It also has a circulating supply of 953,954,130 LEO coins. The token can be purchased on crypto exchanges such as Binance, Huobi, etc.
Is UNUS SED LEO a Good Investment in 2022?
This is a question that needs to be answered when one is looking to diversify the portfolio. The prices of cryptocurrencies has been down for months after the collapse of Terra.
Bitcoin and other altcoins have moved towards their all-time lows while some crypto lending platforms are on the verge of fold up. Many still consider top crypto assets like BTC & ETH that has real users as assets to risk by buying the dip. These however cannot be said for many other altcoins.
As for LEO, averse-risk takers can still invest in this token but must do research on their own before investing. Have it at the back of your mind that crypto investment is the most risky of investment. In fact, UNUS SED LEO unlike many other cryptocurrencies out there, it is not designed to exist forever. You need to study the market before investing in this token.
Conclusion
UNUS SED LEO is one of the promising tokens in the crypto industry today. It is a utility token that’s used across the iFinex ecosystem.
Today, the native token, LEO stands among the top cryptocurrencies in the crypto market today. However, if you must invest in this token, you need to do your research.
Also Read- What You Need to Understand About Tax & Cryptocurrency
Whenever you decide to start trading, Prestmit can provide everything you need to have a wonderful trading experience.
Bitcoin, Dogecoin, Litecoin, and USDT are available here if you consider selling your crypto assets. Payment options here include the Nigerian Naira, Ghanaian Cedis, and USDT.
