LocalCoinSwap LCS Tokensale -- ICO [Investment Opportunity] Ends In Less Than Four Days
Lately, a steadily increasing number of ICOs are being launched, and consequently, there is an increase in problems that plague these kinds of investments, such is the mistrust that potential investors have in the Crypto-Asset industry, because it’s somehow hard to differentiate between a legitimate and illegitimate ICO project. As a result, even high quality and legitimate startups or existing companies struggle to have a successful ICO.
This calls for many stages of verification and due diligence to ensure that an investment is sound, well-organized and have general quality assurance. As a Crypto-Assets writer and enthusiast, it’s a must for me to carry out research/due diligence in validating the legitimacy of an ICO project before writing on or recommending it. I have a number of questions I ask and things I look out for in an ICO project before I could give such a project a yes-yes. One of the things I look out for is “the Goals, the business model, the Team and the Partners of a project”. And in this particular ICO project, LocalCoinSwap, I’m writing about, it’s a yes-yes. Trust me, LocalCoinSwap is a great project.
LocalCoinSwap http://www.localcoinswap.com/ is a project I’ve been following for some time now, and this is what I can say about it:
It has a great team with a lot of relevant experiences, very attractive business model with a good dividend token use case, cap limits are within a reasonable range, professional content, good looking materials, secured, focus on the relevant networks and has a great road map.
Let talk about their product and the solutions they offer:
LocalCoinSwap will revolutionize cryptocurrency exchange. Taking a cue from Bitcoin and making use of the power of blockchain technology, LocalCoinSwap will make cryptocurrency exchange easily accessible to business, traders, and everyday users by building a P2P cryptocurrency exchange and launching an associated Cryptoshare ICO. The platform was built with users in mind thus its user friendly. It is important that the users have a smooth experience, can quickly find and use the features they need, and is not burdened by excessive pages or complicated interfaces. Where possible the focus has been on offering as many features as possible while maintaining visual simplicity.
A definitive objective of LocalCoinSwap is to make a superior p2p cryptocurrency exchange. It will avert problems associated with the present centralized and decentralized exchanges. It will have an escrow administration to facilitate decentralized cryptocurrency exchanges, which makes it to a greater extent a decentralized exchange.
LocalCoinSwap will be the next most rated cryptocurrency exchange because it promises to distribute 100% of its profits to the community, to holders of Cryptoshares on a 1-to-1 basis, through a blockchain-based decentralized dividend application. LocalCoinSwap dividend currencies are the same currencies traded on the exchange. Traders receive regular payments across an entire basket of cryptocurrencies, just from holding one asset. Users/community get the profits, get the coins and get to make the decisions on the platform. In addition, it features a completely decentralized peer-to-peer trading structure. There are no centralized bank accounts, no verification requirements, and no restrictions on trade.
LocalCoinSwap system security:
The security system of LocalCoinSwap is unparalleled. All potential threats are taken into account. On the basis of research done on security systems of the world cryptocurrency market, LocalCoinSwap has managed to put together a security system with no equals anywhere. It takes into account potential threats of all kinds which could compromise the data or lead to theft of funds.
LocalCoinSwap’s instruments and services provide unique solutions on the basis of blockchain, which has no extant analogues in the world and offers revolutionary solutions regarding the consolidation of the world of cryptocurrencies and classical finance systems. The combination of neural networks, escrow and smart-contracts controls the majority of processes within the LocalCoinSwap platform, thus eliminating the possibility of mistakes and compromises.
LocalCoinSwap provides escrow service, which make it possible in protecting users from risks associated with fraud and theft while trading digital currency for fiat currency. As the exchange handles the cryptocurrency portion of the transaction it can investigate all disputes and ensure that fraudsters are not able to trick sellers into parting with their funds.
In order to curb fraud the team plans to write some best practices manuals for different payment methods, based on a peer-to-peer trading, so traders have some guidelines on the best ways to handle sales without the risk of man-in-the-middle attacks or payment reversals in order to ensure maximum security on the platform.
Solutions offered by the platform are stated below:
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%.
Blockchain:
Blockchain technology is widely used in LocalCoinSwap business processes which makes it impossible to substitute or lose financial data. Through blockchain technology the whole platform will be fully transparent to the users. Using Smart contracts makes LocalCoinSwap a reliable and impartial guarantor of fulfilling obligations to the investors of the project.
LocalCoinSwap ICO
In order to create a first class financial platform, acting within the framework of the global legal system, it is necessary to attract funding on a large scale which allows the system in question to start work as well as remain independent. That is why LocalCoinSwap is conducting its own collection of funds using the most modern and convenient instrument, the ICO: the sale of tokens.
LCS Cryptoshares:
There are 3 types of utility which are derived from Cryptoshares:
- Dividend payments received from all Cryptocurrencies traded on the LocalCoinSwap exchange.
- Airdrops of new tokens listed on the platform.
- Ability to vote in the running of the exchange itself using a proof-of-stake system.
LocalCoinSwap will have a token sale for LCS Cryptoshares. Essentially, LocalCoinSwap is tokenizing its platform, then selling tokens through the ICO.
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.
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 entitled to participate in the platform’s decision making process.
According to Nathan, the Chief Technical Officer of LocalCoinSwap, speaking with investitin.com in an interview, he says, “the initial launch is planned before the end of August, however the amount of features and coins available on launch depends on the ICO. The main goal of the ICO, apart from building the trading community in advance of launch, is be able to hire as many extra full-time developers as possible to implement additional coins and features faster. If our ICO is successful (and we are confident it will be) we are going to have an entire team dedicated solely to coin implementation. No other exchange has that right now”.
In conclusion, LocalCoinSwap ICO is still ongoing and will come to an end in less than 4days, on the 15th June, 2018. The good news is that it’s not too late to take part in this one of a kind investment opportunity. Crypto-exchange can’t be more interesting than this. So, what are you waiting for?
Please, never make your final decision based only on what you’ve read here. I advise you to do your own due diligence on the project and have personal conviction before making the final call.
ICO Details:
The ICO began on March 15, 2018 and will end on June 15, 2018
Token Information:
Token: LCS
Price: 1 LCS = 0.4 USD
Platform: Ethereum
Accepting: ETH, BTC, XRP, Fiat
Minimum investment: 0.1 ETH
Soft cap: 500,000 USD
Hard cap: 20,000,000 USD
Country: Hong Kong
Whitelist/KYC: None
Restricted areas North Korea, Iran, Sudan, Syria
For More Info:
Website: http://www.localcoinswap.com/
Whitepaper: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf/
Telegram: http://t.me/localcoinswap/
Facebook: https://www.facebook.com/localcoinswap/
Twitter: https://twitter.com/localcoinswap_?lang=en/
Medium: https://medium.com/localcoinswap/
Reddit: https://www.reddit.com/r/LocalCoinSwap/
Steemit: https://steemit.com/@localcoinswap/
Linkedin: https://www.linkedin.com/company/localcoinswap/
Author: Cryptocraz
Bitcointalk Address: https://bitcointalk.org/index.php?action=profile;u=1698372