Bitcoin Braces For Rival LEOcoin

UK-based Learning Enterprises Organisation (LEO) has launched a completely anonymous digital currency LEOcoin to rival the industry leader Bitcoin. The Bitcoin alternative launched in London on Wednesday will officially begin trading on a Hong Kong-based, global LEOcoin exchange LEOxChange from April 2. The coin will be recognized by other exchanges as well.

Dan Andersson, the co-founder of LEOcoin believes that the new currency will have “greater usability and accessibility than other cryptocurrencies.

To promote wider usability, the organization has launched wallets for different operating systems: Windows 32 bit Wallet, Windows 64 bit Wallet, MAC OS Wallet, and Linux Wallet.

Interested parties can buy LEOcoins, mine them on a computer, join a mining pool, or trade them. LEO has also rolled out a “merchant program” for those willing to access the global LEO Marketplace.

The use of both Proof-of-Stake and Proof-of-Work validation puts LEOcoin in the league of most secure digital currencies.

The organization has promoted the concept to its 131,176 clients thereby essentially making it the “second largest cryptocurrency” in the world.

The launch of LEOcoin is a very risky gamble considering that the same organization commissioned a survey of 1000 small- and medium business owners which revealed that a huge 85% of the respondents are either “not very likely” or “not at all likely” to accept cryptocurrencies like Bitcoin, Litecoin, Dogecoin and others in the future.

The study conducted by YouGov also brought to light that higher awareness has failed to push mainstream adoption of digital currencies. With an awareness level of 86%, a mere 2% were ready to accept a digital currency.

To this, Dan Andersson said that, “the industry needs to do much more to establish its credibility.

On a positive note, LEOcoin’s aim to boost cryptocurrency usability and accessibility for potential users seamlessly aligns with the primary motive of the whole digital currency industry.

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Nikhil Gupta

Nikhil Gupta is a Bitcoin writer/analyst at He provides opinionated and informative articles, price analysis, and covers news stories related to the cryptocurrency. He is an avid Bitcoin follower and has been tracking the currency since late 2013.