Second Largest Digital Currency To Be Launched In UK
The world’s second largest digital currency, LEOcoin, was
launched today (25 March).
The coin can be officially traded in a few days’ time when
LEOCoin’s own exchange – LEOxChange – is opened inHong Kong (2 April). It
will also be recognized by other digital currency exchanges.
Headquartered in Oxfordshire, LEOCoin’s launch follows
plans announced last week by Government to regulate the digital currency sector
as it continues to grow.
A new generation technology, LEOCoin is expected to have
greater usability and accessibility compared to other digital currencies. In
its initial phases, LEOCoin is proving attractive to emerging start-ups and
enterprises – because there are no intermediaries charging commissions, which
often present significant barriers to growth.
A new survey undertaken by YouGov, reveals that almost 50%
of small to medium sized enterprises, who trade internationally, said
transaction fees were a key concern; and 43% who transacted using debit or
credit cards were also worried about the associated costs.
Despite only just being launched some 100,000 entrepreneurs
are already actively using the currency in anticipation of its trading debut,
making it second only to Bitcoin. It is also in the process of expanding its on
and offline merchant base around the world to accept LEOCoin for goods and
services. These range from vinyl records and bicycles to real estate. The peer
to peer network allows users to make fast, secure and cost effective
transactions.
The Key Features Of LEOxChange Are
Instant Transactions: Direct trading between LEOxChange
members (which includes suppliers and retailers) means there are no
intermediaries so you can set your own bid and offer prices and the volume you
want to trade.
Zero Commission: No commission or transaction fees on
purchases. A small commission on sales.
Transparent & Easy To Use: Easily understood bid and offer
prices and quantities are on display. Full details of the trades completed are
visible on an online ledger.
Secure: High level encryption systems keep all transactions
and records secure, keeping your trading environment and personal data safe.
LEOCoin has committed to releasing a maximum of 28,800 LEOCoins
per day for a limited period of 99 years, equating to a total of 1bn LEOCoin,
after which no more will be generated. This means it is designed as a
deflationary currency that will increase in value as demand increases.
Dan Anderson, co-founder of LEOCoin, said: “The launch
of LEOCoin today is an important chapter in the evolution of the global digital
currency market and is a big statement about the future of the sector against a
backcloth of skepticism to date.
“The industry needs to do much more to establish its
credibility – this was borne out by the YouGov study which showed that whilst
SMEs find transaction fees a concern when doing business abroad, 85% indicated
they were unlikely to use a digital currency. Also it revealed that whilst
awareness is very high at some 86%, only two percent already accept a digital
currency.
“These numbers don’t surprise us given the negative
publicity many of the digital currencies have had. We believe this has been
down to such currencies being complicated, inaccessible and not user friendly.
“We aim to address these issues to give users confidence by
providing a transparent and straightforward operating system. We have also
focused on developing a currency that is intended to be used by everyone.
Consequently we anticipate that within five years, individuals and casual users
will have increased exponentially as ordinary consumers start to see the
benefits of privacy and security offered by LEOCoin, whether trading at home or
abroad.
“This is a very dynamic and fast moving area in financial
services and we are aiming to bring digital currency into the mainstream.”
Let’s Be The Part Of Largest CryptoCurrency
