The new LEOcoin ERC20 token is powered by the Ethereum platform, with thousands of nodes to support the protocol and provide consensus and security. New LEOcoin wallets will be made available with multiple features. Mist, MyEtherWallet, Atomic wallet, and other ERC20 wallets will also support the new LEOcoin token

Please make sure you use your address from your Ethereum wallet, like the official Ethereum wallet, MIST, MyEtherWallet, Atomic wallet or any Ethereum wallet that allows you to access and add Ethereum Tokens. Only such wallets will be able to allow you to control your LEOcoins.

Please do NOT use an Ethereum address from other exchanges or any wallet that you don’t own its private keys. Otherwise, you might lose all your tokens.

We are using our community of LEO Members as the first wave. LEOcoin is open source, and we have already received very positive feedback from the cryptocurrency community, so we do not doubt that LEOcoin will attract much interest.

Now at launch, we are simply building a user base. Going forward are accepting it for payment in our LEO business, in our LEO CAFE franchises, and we are giving our users the ability to sign up local and global businesses and outlets to build the "LEOcoin accepted here" space. Parallel to this we have opened LEOxChange and listed LEOcoin on the cryptocurrency exchanges. As the demand grows, people will find their own ways to start using it. We do not have control over it. We created it in a way that allows it to serve its purpose in the best possible way

All official Ethereum wallets have their own method of back up. Please refer to their official page for more information.

If you are using the Atomic wallet, please check https://support.atomicwallet.io/support/solutions/articles/36000081746-how-to-restore-atomic-wallet-by-back-up-phrase- and also https://support.atomicwallet.io/support/solutions/articles/36000066377-what-are-private-keys-backup-phrase-and-where-they-stored for more information.

No action is needed at this stage. We will keep you updated with further progress

You can’t unlock your wallet; you can’t stake your coins, you can’t spend coins, you can’t transfer your balance to another wallet, you can’t send or receive secure messages.

Encryption is not a good thing if you forget the password. Please make sure you always keep a safe backup of your wallet password, 12-word seed or files, depending on the Ethereum wallet you are using.

To check any tokens your Ethereum address has received, you need to open this page https://etherscan.io/address/YourEthereumAddress#tokentxns by replacing the YourEthereumAddress with your Ethereum address.

We don’t make any recommendation for any wallet. However Atomic wallet is just a suggestion we make (https://atomicwallet.io/downloads) Please make sure you perform your due diligence in choosing the right Ethereum wallet you wish to use that also handles ERC20 tokens, to be able to send and receive the new ERC20 LEOcoin3 token. You may find more suggestions regarding wallets here https://tokenmarket.net/what-is/ethereum-token-wallets. LEO is not responsible for any losses or issues that may occur by using any third-party software, like a cryptocurrency wallet or similar service. We also suggest you use the official Ethereum wallet for any Ethereum or ERC20 token transactions. More information can be found here https://www.ethereum.org/.

After you complete the upgrade and your Ethereum address has received the LEOcoin ERC20 tokens, the same Ethereum address will need to have some Ethereum (ETH) to be able to make LEOcoin ERC20 token transactions (even less than 0.01 ETH will suffice to begin with. In short, you need some "Gas" in your Ethereum address.

Your wallet can receive LEOcoin ERC20 tokens without any need for "Gas". It is only needed if you want to make outgoing transactions (send LEOcoins to another Ethereum address)

You can learn more about Ethereum "Gas" here https://kb.myetherwallet.com/gas/what-is-gas-ethereum.html.

The LEOcoin ERC20 token Contract address is 0xf97b5d65Da6b0468b90D531ddae2a69843e6797d You will need it to add the LEOcoin token to Ethereum wallets capable of working with ERC20 tokens (like the official Ethereum wallet, Atomic wallet and more). CAUTION: this contract address is NOT to be used for transactions, only to add the token in supporting wallets.

A cryptocurrency is a particular type of digital currency. Both are virtual currencies but every virtual currency is not cryptocurrency. According to the European Central Bank definition virtual currencies are generally digital, although its precursor, the coupon, is physical. In the present day usage of the term virtual currency, in environments with digital communication and with disappearing importance of physical coupons, digital currency equals virtual currency, as defined by ECB and the Treasury.

There are many fundamental differences between a virtual (in general) currency and a cryptocurrency. Please read below some fundamental differences:


1: Environment:

Virtual currency (in general): Virtual currency can be anything from coupons to tokens. Virtual currency can appear in video games (like World of Warcraft) and it normally has no value outside of the environment where it was created.

Cryptocurrency: Cryptocurrency is a special kind of virtual currency. It has very specific rules and is fixing all of the Virtual currencies’ flaws.


2: Control

Virtual currency (in general): It is centralized and is governed by its creator.

Cryptocurrency: Decentralized and not owned by a single authority, instead it is owned by everyone who owns the cryptocurrency coins.


3: Value

Virtual currency (in general): Value can and will be manipulated

Cryptocurrency: Value is determined by supply and demand


4: Use

Virtual currency (in general): Normally used for a very limited range of products or services that are in domain of the developer.

Cryptocurrency: Can be used and exchanged for anything completely unrelated to the developer.


5: Exchange

Virtual currency (in general): In most cases transactions only go one way. You can trade fiat currency for virtual but not the other way around.

Cryptocurrency: Can be exchanged freely to fiat currency and back


6: Security

Virtual currency (in general): Has very low protection and can easily be hacked.

Cryptocurrency: Is designed to be extremely protected and non-hackable.


7: Trade

Virtual currency (in general): Can sometimes be traded between people in the same company or group.

Cryptocurrency: Can be traded by anyone, anywhere and at any time.


8: Age

Virtual currency (in general): Has very limited use and an expiry date

Cryptocurrency: When accepted it has potential to last forever.


9: Fiat currency flaw

Virtual currency (in general): Has almost every single flaw that fiat currencies have. It can be corrupted, manipulated, used to only serve a few people. It has an infinite amount, companies can always issue as much of it as they want.

Cryptocurrency: Is solving most of the problems fiat currencies have. It cannot be controlled, there is a finite amount and nobody can issue more.


10: Benefit

Virtual currency (in general): Can only be given to those who paid for it. The money it makes goes to the developer.

Cryptocurrency: Has the most fair distribution system possible. It is given as a reward to those who help secure the network by a completely transparent process called mining. It is a completely automated process, which no one can interfere with.

If you don’t create a proper backup of your wallet, or if you don’t have a copy of your private key for every address your wallet owns, yes. That’s why it’s crucial to always keep a fresh backup of your wallet somewhere safe, out of reach of unauthorized people.

From within the LEOcoin wallet application, go to the File menu and select "Backup wallet". You will be prompted for the location for the backup file and that’s it. Please make sure that this location is safe and secure.

There are a variety of ways to acquire LEOcoins:

You can buy LEOcoins directly from people who already have them

You can accept LEOcoins as payment for goods or services.

You can buy LEOcoins through the LEOxChange or other exchanges that trade LEOcoins.

LEOcoins are not actually "sent" to your wallet; the software only uses that term so that we can use the currency without having to learn new concepts. Your wallet is only needed when you wish to spend coins that you've received.

If you are sent coins when your wallet client program is not running, and you later launch the wallet client program, the coins will eventually appear as if they were just received in the wallet. That is to say, when the client program is started it must download blocks and catch up with any transactions it did not already know about.