CEX.IO vs UNUS SED LEO vs Covesting
What problem does this service solve?
CEX.io is a London-based exchange that was initially launched as a cloud mining pool. | UNUS SED LEO aims to increase the transparency of how revenues from Bitfinex, Tether, and its related entities are allocated. | Covesting is a cryptocurrency exchange with copy-trading features. |
Token Stats
Not Relevant |
Company Description
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. | 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. | Covesting is a cryptocurrency exchange that allows users to copy crypto trading behavior of other traders. The platform offers a range of currency pairs and has a native COV token, that gives holders a 50% discount on trading fees, and is also used as a bonus system for traders whose activity is copied. |