BitForex vs UNUS SED LEO vs CEX.IO
What problem does this service solve?
BitForex is a large exchange with a large variety of currency pairs. | UNUS SED LEO aims to increase the transparency of how revenues from Bitfinex, Tether, and its related entities are allocated. | CEX.io is a London-based exchange that was initially launched as a cloud mining pool. |
Token Stats
Not Relevant | Not Relevant |
Company Description
BitForex is a cryptocurrency exchange with headquarters in Singapore. BitForex also has several offices in other countries. It is one of the larger exchanges by trading volume and offers a large variety of trading pairs. Trading and withdrawal fees are similar other exchanges. | UNUS SED LEO is an initiative started by Bitfinex that is focused on increasing the exchange's transparency. UNUS SED LEO means "one, but it's a lion" in Latin. The iniatative was created to increase the transparency of the exchange's finances, following a controversy related to the allocation of reserves from the stablecoin Tether, that was created by the same parent company as the Bitfinex exchange, iFinex. It is built around a token burning redemption mechanism which is tied to the parent company's revenues. Their dashboard provides insights into the fees that are collected, and the LEO tokens that are burned. | CEX.io is a British company that changed its focus from mining into becoming a cryptocurrency exchange. CEX has made an effort to add many coins, and boasts of fill-or-kill (FOK) orders that allow for some of the industry’s fastest trading, but it has a poor record on privacy and transparency that should give pause to traders. |