FAQs

Frequently Asked Questions

  • What is Bitcoin?

    Bitcoin is an online payment system invented by Satoshi Nakamoto, published in 2008 and introduced as open-source software in 2009. The system is peer-to-peer; users can transact directly without needing an intermediary. Transactions are verified by network nodes and recorded in a public distributed ledger called the block chain.

  • What is LEOcoin?

    LEOcoin is a new age digital currency of the future. It works pretty much the same as Bitcoin but with lot more enhancements and features. Entrepreneurs from around the world are accepting LEOcoin as mode of payment for transactions of goods or services. You can learn more about LEOcoin and even download you own wallet from: www.leocoin.org

  • What is LEOxChange?

    LEOxChange is UK based LEOcoin & Bitcoin marketplace. It allows people from all around the world to safely buy and sell their crypto-currencies.

  • How does LEOxChange work?

    Our users can exchange their (FIAT) cash to CRYPTO or vice versa. They just have to deposit either one of them to be able to trade with others using the system.

  • Are you selling CRYPTO (LEOcoins, Bitcoins)?

    Simply NO. We provide the secure and easy place where our users may place their bid and ask for several crypto-currency pairs. So the exchange is actually between our members under the safety of LEOxChange where all order become agreed and the system arranges for the amounts transferred back and forth.

  • How to start?

    It's easy, fast and free to open an account. Go to home page and click signup button, fill out the form and log in. Then you have to fund your account. Click Funding in the trading panel in the main menu and select a type of deposit you wish to make. There are two main choices. LEOcoin/Bitcoins you wish to sell or currency you wish to spend on buying LEOcoin/Bitcoins.

  • How to trade?

    To trade, after you have activated your account of course, you have to fund your account, either with crypto-currencies or FIAT (bank transfer). Once that is out of the way, you should go to “Trade” under “Username” (or use the tab “Trade” in “Trading Panel”).  There you can select “New Order”, pick either Buy or Sell, the amount and type of order from two types: Market & Limit. Using Market you will be provided with the best price available instantly. Limit is for more advanced traders but more powerful in the sense that you may set the price you like for your order and then wait for it.

  • What currencies can I trade (CRYPTO) coins with?

    You may trade both CRYPTO coins (LEO & BTC) between British Pounds (GBP), Euros (EUR) and U.S. Dollars (USD). Of course, you can trade between LEOcoin & Bitcoin as well. Initially we have launched limited currency pairs. We will add more currency pairs later. You can see Currency Pairs from top menu on the website.

  • What is the difference between a Market and a Limit order?

    A Market order is executed immediately after placement at the best price offered the time it was placed. It may be partially filled in which case the rest of the order (unfilled part) keeps the initial price as the order price (provided by the system) and waits either to be filled or canceled by user. A Limit order is only executed at the price the user specifies or better. It behaves just like the unfilled part of a Market order but with a predetermined by the user price.

  • How can I check my orders?

    You may check your orders in “Trading Panel” under tab “Orders”. There you can see if you have any open trades (either unfilled parts or whole limit orders) and also you can see all your closed orders.

  • What is Order Book?

    Order Book contains all the current active orders (buy or sell) inserted in the system with information on total volume & prices. These are the prices you may receive when you place “Market” orders.

  • How to cancel an open order?

    To cancel an open order go to “Trade” under “Username” and select tab “Orders”. In section “New & Open Order” select the order to be canceled and click “Cancel” next to the chosen order.

  • What is verification?

    It is required by law that we know some info about you. For basic stuff you are only required to provide us with just a few details, while for more advanced trading you just have to tell us a little more. Same way you would do with your bank. After all, it is your funds we want to secure and make sure nothing goes south. LEOxChange is compliant with international AML regulations in order to prevent fraud or illegal actions.

  • What currencies can I use in funding (deposit & withdrawal)?

    You may use LEOcoins & Bitcoins for crypto funding and British Pounds (GBP), Euros (EUR) and U.S. Dollars (USD) for (FIAT) cash funding. You can see currency pairs from top menu on the website.

  • What is the usual time for a deposit?

    A typical bank wire transfer takes from 2 to 5 business days. The minute a deposit is processed by our stuff your account is credited and you are informed by email.

  • How long does withdrawal usually take?

    International transfers take up to 5 business days.

  • Where is your bank account information?

    Once your account is activated, you are able to make deposits to your LEOxChange account. All the information you will need is displayed in “Funding”.

  • Can I deposit funds from a bank account not in my name?

    For deposits, you can only use your registered account with LEOxChange and that account has to be in your name to get verified.

  • How to withdraw LEOcoins or Bitcoins?

    Navigate to “Trading Panel” and then “Funding”. Then select “Withdraw” next to either LEOcoin or Bitcoin. You must have attached your wallet in order to proceed with a withdrawal request. Enter the amount for withdrawal (it has to be within your limits according to your Tier level) and press “Request Withdraw”.

  • How to deposit LEOcoins or Bitcoins?

    To deposit coins you have to navigate to “Trading Panel” and then “Funding”. Then select “Deposit” next to either LEOcoin or Bitcoin. Use the address shown or QR code to proceed with your deposit to your LEOxChange account.

  • How long do I have to wait for my CRYPTO deposits?

    Our security requires 6 confirmations, so it may be around 10 minutes for the transaction to be confirmed.

  • Can I send coins for my LEOxChange wallets directly to an address other than mine like casino site, or even another exchange?

    It is possible to do that (like to any valid wallet address) BUT we STRONGLY advise you NOT to do it. The reason is that coins will be sent from a LEOxChange address and not your own, so if something goes wrong with the transaction and the coins need to return back, they will be lost! The best solution is that whenever you’re in such a need, first send coins to your own wallet and from there to wherever you want. This way if coins have to be returned, they will do so in your personal wallet.

  • What about fees?

    LEOxChange fee scheme describes all there is about fees. In general, fees vary depending on monthly trading volume. Maximum fee for trading is 1%. Fees for deposits and withdrawals may also be imposed (check section deposit & withdrawal fees inside fee scheme). All fees are calculated and displayed before any trade completes.

  • What is the withdrawal fee?

    Fees are displayed before any withdrawal is executed. Minimum charge for international withdrawal is 25£ for GBP, 35€ for EUR & 40$ for USD, minimum fee 3%.

  • How safe is LEOxChange?

    Strong security has been implemented in our system architecture. Our systems are monitored 24/7 for anything suspicious. Many different ways are used for keeping everything secure. We have got high level redundant infrastructure with smart cold wallet implementation to make sure that system is up and running all the time.

  • What is 2FA Authentication?

    Two-Factor Authentication provides you an unmistakable identification by means of the combination of two different and independent components.  First is the password which you have provided during log in, this is something that you know and can be provided anytime.  Secondly, LEOxChange has developed its own mobile authenticator application, LEOxChange Two-Factor Authentication Key which will provide you with added level of protection.  This application provides a password that changes in a specific time interval, so nobody else can use it than the owner of the device it runs.
    By allowing Two-Factor Authentication, you are enabling this added security to your account in areas such as during log in, withdrawing funds and on trading depending on your choice. 

  • What are the steps to enable 2FA (Two-Factor Authentication)?

    1. Open LEOxChange Two-Factor Authentication Key application.
    2. From your computer, login to https://leoxchange.com/.
    3. Once logged in, navigate to Security – > Two-Factor Authentication. 
    4. Tick ‘Allow Two-Factor Authentication’, a pop up window will be displayed showing a QR code.
    5. On your mobile device, visit Google Play Store (Android devices) or App Store (iOS devices). You can find the links and QR codes here
    6. Search for LEOxChange Two-Factor Authentication Key.  Download and install the application.
    7. Click QR code icon and scan the QR code that is visible from your screen.
    8. A record will be added with your name in it.  Clicking on this will display a 6-digit code, this is your 2FA code. This will indicate that you have successfully set up your mobile authenticator.
    9. Click ‘CONFIRM SCAN’ button from your screen, this will close the popup window and will take you to Two-Factor Authentication screen.
    10. Choose the area you would like to enable Two-Factor Authentication.
    11. Click ‘SAVE CONFIGURATION’ button to complete your Two-Factor Authentication set up.
  • How do I change my email address?

    You can’t change your email address once it is verified.

  • I have lost my password.

    You can reset your password using forgot password link in login page.

  • What if my question isn’t answered?

    In case you need extra assistance, please feel free to contact our Customer Support at support@LEOxchange.com

  • Can I withdraw GBP to my EUR/USD account? (or any other combination)

    You may request a withdrawal to your registered in LEOxChange account only. If it is in a different currency than the one you are requesting withdrawal, your bank will most probably accept it and convert it to your account's currency according to THEIR OWN rates.

  • How many accounts can I have

    Each user can have only one account for trading. This is irrespective of how many currency pairs they trade or how many currency accounts, fiat and digital, they maintain.

  • How do I unlock my account if it was blocked due to multiple wrong passwords attempts?

    Please got to: https://www.leoxchange.com/ForgotPassword.aspx and request a password reset. After successfully resetting your password, you account will be unblocked and you will be able to login with the new password.

  • What does Tier limits stand for?

    They state what the daily limits for deposits & withdrawals are and what is the total Portfolio Limit in GBP, as per Tier level.

  • How do I install LEOxChange 2FA Application if I don't have access on Google Play?

    To install the LEOxChange 2FA Application, kindly go to Support

  • How do you count: Previous day LEOcoin and BTC Volume, Volume Today and Previous Day Close, High and Low?

    Previous day LEOcoin Volume: Total LEOcoins traded yesterday in all LEO pairs.
    Previous day BTC Volume: Total Bitcoins traded yesterday in all BTC pairs.
    LEOcoin Volume Today: Total LEOcoins traded today in all LEO pairs.
    BTC Volume Today: Total Bitcoins traded today in all BTC pairs.

    Previous Day close: Last trade made yesterday
    High: The highest rate today
    Low: The lowest rate today

    NOTES: Dates and time are in UTC format. Previous day is considered till 23:59:59 yesterday. Today starts at 0:00 AM and lasts till 23:59:59 tonight.