LocalCoinSwap REVIEW

Today, centralized cryptocurrency exchanges have security risks, inefficiencies, unreasonable verification needs, and long wait times. This way, these ecosystems may follow unethical business practices that include front running, deceptive pricing, and insider trading. With these problems, the exchanges will never become secure and transparent in their business dealings.

Because of this, there’ll be a need to create a peer-to-peer (P2P) marketplace  providing defined, direct access between sellers and buyers — which actually represents the purest form of free market trading. Such a decentralized cryptocurrency marketplace is what LocalCoinSwap is trying to achieve with its ecosystem. This platform implements a new approach to the traditional company ownership, by unleashing the power of blockchain technology. With this technology, the platform’s profits can be distributed to its token holders in the most transparent way.

ABOUT LocalCoinSwap

LocalCoinSwap is a cryptocurrency exchange that aims to give users more control over the platform. The creators claim their marketplace is “the most financially transparent exchange on the market.” Why is this transparency important? Why should you care about an exchange being transparent? It’s because the exchange promises to distribute 100% of its profits to the community.

The community is also allowed to democratically vote on all aspects of the marketplace’s operation.

The ultimate goal of LocalCoinSwap is to create a better p2p cryptocurrency exchange. It will solve the problems of today’s centralized and decentralized exchanges. It will have an escrow service to facilitate decentralized cryptocurrency exchanges, which makes it more of a decentralized exchange.

PROBLEM TO SOLVE by LocalCoinSwap

This decentralized crypto exchange has the clear aim of solving all the problems that come with centralized and semi-decentralized exchanges. Some of these problems are listed below:

• For the most part, centralized exchanges restrict new-user registrations — or, sometimes, they need users to divulge really intimate identity-related information before trading.
• Most centralized crypto exchanges follow unclear regulations based on the countries in which they operate.
• All the existing decentralized cryptocurrency exchanges are not only non-inclusive but also fragmented.
• Decentralized exchanges are especially problematic for all those who trade using lesser known fiat currencies or digital currencies.
• Many exchanges force the users to swap all the lesser known cryptocoins for a popular cryptocurrency such as ETH or BTC. Then only, will they allow the traders to buy the cryptocurrency they need.
• Additionally, the exchanges of today don’t permit users to share the profits generated.  

LocalCoinSwap aims to solve all of these problems.

FEATURES of LocalCoinSwap 

The LocalCoinSwap platform emphasizes all of the following features. Overall, the developers have built the platform with three basic principles in mind: they want the platform to be safe, easy, and fun.

> Multiple Coins Offered:

LocalCoinSwap has put a big emphasis on adding lots of diverse coins to the platform. They want to offer more coin pairs than any other decentralized exchange.

> Escrow System:

LocalCoinSwap has an escrow system that acts as an intermediary between buyers and sellers. When a trade is initiated between traders, LocalCoinSwap takes possession of the cryptocurrency portion of the transaction while the fiat currency payment is made directly from the buyer to the seller.

Once the payment has been made, and the seller can verify the fiat currency transaction has been received, the cryptocurrency is released to the buyer. The escrow system will prevent user funds from being locked up during volatile market periods by issuing time limits for each step of the contract process.

> Multi-Signature Support:

LocalCoinSwap will have a multi-signature transaction option for increased security.

> Dispute Resolution:

If a dispute occurs, the escrow release is paused and supporting documentation is requested from each party to mediate the settlement.

> User Feedback and Community Engagement:

LocalCoinSwap emphasizes an active community where users can easily submit feedback to the platform.

> Security:

LocalCoinSwap will have a full-time dedicated security team. 95% of cryptocurrency deposits will be stored in offline wallets to minimize potential losses due to hacking.

> Simplified Fee Structure:

LocalCoinSwap will charge fees based on comparable exchanges, with the goal of matching or beating those exchanges. This fee is currently set at 1%.

HOW IT WORKS 

1. The Platform Works

LocalCoinSwap is emphasizing cheap costs for traders. Users will facilitate peer-to-peer transactions, which means you don’t have to pay fees to an intermediary.

LocalCoinSwap also claims to support the more cryptocurrencies and payment methods than any other peer-to-peer exchange in existence:

“It is typical for other exchanges to only support a single currency or a small basket of the most popular currencies. LocalCoinSwap will cover the most extensive offering of cryptocurrencies and payment methods possible, with a development team after launch whose sole purpose is the implementation of new currencies.”

LocalCoinSwap also plans to launch special support for ICOs and other new token projects. ICO creators can launch their projects on the platform, for example.

Overall, LocalCoinSwap sees itself as “true” P2P trading, where users can trade the assets they have for the assets they want. They can pay low fees all while sharing in the revenues generated by the platform.

2. Cryptoshares Works

LocalCoinSwap will have a token sale for LCS Cryptoshares. Essentially, LocalCoinSwap is tokenizing its platform, then selling tokens through the ICO.

The whitepaper doesn’t try to hide the fact that you’re buying ordinary shares:

“The LCS Cryptoshare system utilises blockchain technology to replicate traditional company ownership through shares in a more secure and decentralised manner. Much like the issuance of regular shares and profits distributed through dividends, LocalCoinSwap issues Cryptoshares which entitle holders to regular redeemable dividend tokens.”

The entire tokenization system is hosted on the blockchain, giving users a publicly auditable and unforgeable ledger of the company’s financial performance.

The LCS Cryptoshares system is scheduled to launch by August 2018.

When the system launches, token holders will be entitled to guaranteed rights to 100% of the total profits from the LocalCoinSwap exchange through cryptocurrency dividends. The entire payment system is based on the transparent blockchain, allowing you to see exactly how the system breaks down.

As an LCS token holder, you’re also entitled to participate in the platform’s decision making process.

ICO DETAIL 

The tokens of the platform are known as LCS Cryptoshares. The token holders, here, are allowed to access the entire portfolio with just a single asset. Moreover, these token holders will be given special voting rights on the platform. By using a special voting mechanism, this crypto exchange will embrace the truest version of peer-owned decentralization. 

ICO Details Overview

TOKEN CODE	LCS
PRICE PER LCS	0.4 US Dollar (USD) (1 USD = 2.5 LCS)
LCS MAXIMUM TOTAL SUPPLY	100,000,000
AVAILABLE THROUGH PRE-ICO/PRESALE/ICO	70,000,000
TOKEN BURN	All unsold
TOKEN FREEZE	All developer tokens for 1 year
PAYMENT CURRENCIES	Ethereum (ETH), Bitcoin (BTC), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Ethereum Classic (ETC), US Dollar (USD), Euro (EUR), British Pound (GBP), Australian Dollar (AUD), New Zealand Dollar (NZD), Canadian Dollar (CAD) & more
SOFT CAP	500,000 US Dollar (USD)
ABSOLUTE HARD CAP	20,000,000 US Dollar (USD) (remaining tokens destroyed)
BONUS STRUCTURE	Community based

ROADMAP

TEAM

BOARD OF ADVISORS

George Kimionis Technical Advisor	Chief Executive Officer and founder of Coinomi Wallet, the largest and most proven phone wallet with support for more than 150 digital assets and zero users funds lost. Technical expertise includes the production and deployment of highly scalable software, implementation of new cryptographic assets, and intrusion resistance.
Mr. David S. LEE  Legal Advisor- Senior Lecturer Accounting and Law Hong Kong	UniversityDavid worked in investment management in Hong Kong and London before joining the University of Hong Kong. He started his career at Goldman Sachs and also has experience in law and in management consulting. David remains engaged in professional practice by working with companies and entrepreneurs, particularly in finance and technology.  David earned his J.D. from UCLA School of Law, his M.Sc. (with Merit) in Organisational and Social Psychology from the London School of Economics and Political Science, his M.A. in East Asian Studies from Harvard University, and his B.A., cum laude, in International Politics and Asian Studies from Brigham Young University. David is a lawyer and a CAIA (Chartered Alternative Investment Analyst) charterholder.
Dr. Artem Sergeev Legal Advisor	Artem is a Senior Research Fellow at the University of Hong Kong. In addition to his legal work as an academic, Artem contributed to the United Nation’s mission in Cambodia, Oxford University Press, theDesk and a number of other enterprises. He has published a range of articles on various aspects of international law, received several notable academic awards, and actively contributed to the legal community around the world.”Frank Zhu Legal AdvisorFrank has extensive technology innovation experience in the finance industry. He is currently a technology analyst in a major investment bank based in HK. He also has two years of experience in front and backend development.
Mario Innecco Financial Advisor	Financial AdvisorExperienced financial professional and former FCA Registered Representative (1993-2012) with a wide skillset and proven track record. Professional background includes work as a Private Banker and Government Bond and Exchange Traded Derivatives Broker. Mario currently works as a Market and Economics Analyst and provides regular commentary on his Youtube channel.
Vladimir Ninov  Marketing Advisor- MBA	Vladimir is a serial online entrepreneur with a vast experience in digital marketing, advertising, crowdfunding and growth hacking. With over 7 years of experience helping crowdfunding projects to raise over $100 million on various platforms, Vladimir has also been helping entrepreneurs to successfully build personal branding, write for global news outlets like Forbes, Inc, Entrepreneur, FastCompany and to most of the big ICOs to successfully reach their soft and hard cap funding goals. Vladimir is an ICO advisor for several global projects & also a Co-founder of the Webcoin project which aims to change the way how the world does marketing.
Shaf Zaman Marketing & Fundraising Advisor	Manager of a private investment community which focuses on ICO fundraising. Extensive marketing and management experience. Has been involved with Blockchain technology for several years. Early investor in multiple successful ICO's. Expertise as a community manager and networker for specialist investors.
Andrew Bondarevich Marketing Advisor	Dynamic and result oriented executive who drives ideas towards implementation with the simple logic of ROI. 18+ years in sales & marketing working across industries and functions. Deep understanding of the nuances of business strategy which have contributed to a successful track record of attaining corporate objectives.
Miguel Sánchez de Pedro Banking Advisor	Senior Partner and founder of OxValue Advisers SL, a management consulting firm, specialising in finance related advisory services to banking institutions, small and medium enterprises and start-up ventures. Miguel holds a Degree in Business Administration and former Certified Chartered Accountant (1978 to 2012).
Fred Antunes  Advisor	Fred Antunes born in Lisbon, Portugal and it is one of the first Bitcoin early adopters in the country. Crypto Entutiast from the time of “cypherpunks”, in the end of 2009 started to investigate the impact of the blockchain technology in the human society and his vision is not only about technical or financial investiments but also aproaches the subject in political, educational, comercial, cultural, and human perspective. At the moment he is the current board president of the portuguese blockchain and cryptocurrencies association and he works for multiple blockchain projects as a private advisor. Besides that Fred Antunes is an active miner, trader and investitor.

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