TL;DR: In this article you will learn what is LEO token, how it works and how can it be used for funding rehab.
The cryptocurrency world can be a very confusing one for many people because many platforms and terms aren’t discussed very often. Understanding how these tokens work is critical for those who want to use cryptocurrency as a way of paying for rehab and other types of treatment options.
For example, the LEO token has recently made a pretty significant impact on various elements of the market and has attracted a lot of interest.
What is LEO Token
The exact nature of the LEO token is somewhat hard to define because cryptocurrency is often confusing to many individuals. Comparing the LEO token to Bitcoin or other types of currency options doesn’t work because it isn’t quite the same thing as these options.
The LEO token is a payment token designed for the Bitfinex exchange, which opened up in 2019 to trade many types of cryptocurrency. Technically, it is not a type of cryptocurrency, like Bitcoin, because it is used only on the Bitfinex marketplace and cannot be used to pay for products or services in and of itself. For example, users cannot use the LEO token to buy items for their business.
As a payment token, it tracks exchanges on this marketplace and can be used as a standard method of trading for all on the Bitfinex exchange. But why would users invest in these tokens if they cannot be used outside of their initial platform?
Their primary goal is to provide discounts and reduced fees when appropriately used. For example, this token can be used to create buying and selling discounts on Bitfinex, decreasing the costs of various types of trading, and providing cryptocurrency owners with a low-cost alternative.
As of the writing of this post, Bitfinex plans to produce no more than 1 billion LEO tokens. These tokens are all unique and tagged with very specific tethers, which means they cannot be hacked or changed.
That doesn’t mean that users who own LEO tokens cannot exchange them or sell them to others. However, their limited number does create a rather substantial risk of price increases.
Types of LEO Token Discounts
Those who purchase and hold LEO tokens can apply them directly to their cryptocurrency exchanges for a myriad of different money-saving deals. These discounts are automatically applied when you meet specific standard criteria in your trading.
Just a few of the most common discounts that you’re likely to experience on this platform include:
- A reduction of Taker Fees by at least 15% for all crypto exchanges
- A further fee reduction of 10% for those who deal in more than $5,000 in LEO tokens
- A decrease of 0.05% for every $10,000 in LEO tokens a person possesses
- Up to 25% of all trading fees deducted during all LEO-related transaction processes
- No fees when withdrawing $2 million while maintaining $50 million worth of LEO tokens
Many of these benefits only occur at the highest level of cryptocurrency trading. However, even low-level trading—such as a few thousand dollars—can reap benefits when using LEO tokens.
That doesn’t just mean luxury automobiles, fashions, travel. They may be able to tap into LEO Token’s unique benefits when looking for a way to get and stay sober, too.
How LEO Token Can Help Fund Rehab
Individuals need many types of help when finding a rehabilitation center for alcoholics, including financial help. LEO tokens may help fund a rehab journey in a variety of different ways.
First of all, those who invest in LEO tokens get the chance for discounted cryptocurrency trading on the proper platform. These LEO token discounts are enormous because they make cryptocurrency trading worth more by decreasing costly fee expenditures.
(Managing this financial portfolio can be easily managed while in rehab, too, provided there is a properly equipped phone or tablet.)
As a result, one can sell a portion of one’s other cryptocurrency if they find themselves low on cash during their recovery and use the LEO tokens that they possess to recoup more of their investment.
The money realized from even a small sale may be enough to fund a significant portion of rehab treatment, particularly if sold when prices are high.
Just as importantly, this type of cryptocurrency investment can be a good choice for those who want to build equity and financial stability during rehab.
If one has no source of income during treatment and recovery, LEO tokens may provide a substantial source of cash by increasing in value. Because there is a finite amount of these tokens—and some are being burned, making them more finite—their value continues to increase. They are easy to sell because others who may want to use these tokens cannot find them for sale elsewhere.
So while you cannot use LEO tokens to pay directly for your rehab, you can trade them for cash and invest in other financial areas to increase your bottom line and make paying for recovery easier.
You will need some money to invest in these tokens before you begin, however, so you may need to take out a loan or get some new credit cards to start up.
Why Not Just Use Loans or Credit Cards for Rehab?
Why not cut out the middleman and just get a loan or new credit card to begin with? Because that creates a debt you must later pay off. Investing in LEO tokens is the wiser choice because they will only increase in value. As the market expands, it will become easier for you to pay off your debt and ensure that you emerge from your rehab journey with a healthy mind, body, and portfolio.