LocalCoinSwap - Decentralized P2P cryptocurrency exchange that distributes 100% of profits back to token holders!

in #review6 years ago (edited)

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In 2018, there are few who can be surprised by the word "cryptocurrency". Most of us have seen many success stories about buying bitcoin for a few dollars 5 years ago. But nowadays there are hundreds of very promising cryptocurrencies that can also give good profits and every month there are dozens of promising startups. And it is this factor that attracts a large number of developers and millions of new users to this sphere.

Cryptocurrency is increasingly part of our life: with it you can buy almost everything from a cup of coffee, a subscription to a music portal and ending with a car or real estate on the ocean. The buying process begins with an exchanger where we exchange our Fiat money for cryptocurrency. With each such operation exchangers retain 5-10% Commission. And to start trading digital assets, the user sends them to the exchange. For any transaction, each exchange also takes a Commission for its services.

According to statistics, at the end of 2017, more than 200 crypto-currency exchanges were registered worldwide. But most of them do not allow you to quickly and cheaply make an exchange and at the same time keep the confidentiality of the client's data, so any operation is performed with the commission.

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I will show you an example of income Binance, which is included in the TOP-5 ranking of the largest cryptocurrency exchanges in the world. This is a very young exchange, which was founded in 2017, but has already become one of the best in the world and gain a good reputation among users thanks to finding its head office in Hong Kong, which gives additional confidence to users. Since the moment of work, Binance has introduced low commissions for a trade on its platform - only 0.1%, which attracted a lot of beginners and experienced traders. Also for all the time she had no significant delays in payment time.

Thanks to this service, trading volumes on this exchange are constantly growing and today the daily trading volume in the BTC / USDT pair is $ 215 000. It will not be difficult to calculate the daily profit of the exchange only for this pair. By analogy, you can also calculate the total profit of the exchange for the day.

If you look globally, all cryptocurrency exchanges earn millions of dollars only for one day! At the same time, most exchanges have a number of problems and are not always convenient for users.

The world needs new methods of cryptocurrency exchange with the ability to enter into transactions directly between users without intermediaries! This is all possible thanks to the LocalCoinSwap project!

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The goal of the project is to minimize the costs of ordinary participants through the use of peer-to-peer transactions, when the transaction will be made directly between users excluding various intermediaries, which we always pay fees for any operation.

Do You know when your favorite exchange was not desired cryptocurrency?

Most exchanges offer their users a very small list of cryptocurrencies, mostly well-known and popular coins. A distinctive feature of the project from existing competitors is the presence of a large number of different cryptocurrencies that are available for exchange on this platform. The goal of the developers is to introduce all available cryptocurrencies into the LocalCoinSwap platform at the present time and add them for exchange when new coins appear.

I also really liked the idea of the developers that the platform will be available for the ICO and all the conditions for the development of new startups. The administration of the platform will provide the necessary support to the development teams and provide all the necessary resources. I am sure this news will please many teams with new ideas. LocalCoinSwap aims to be the best and largest p2p trading platform with which everyone will be able to make any transactions with their assets with minimal fees.

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The project team creating such a multifunctional platform aims to solve a number of problems that exist today in the cryptocurrency market:

1. Most exchanges require KYC(know your customer) procedures for financial transactions, in which the user must provide his / her documents, which is not secure;
2. Most cryptocurrency exchanges are not controlled areas and therefore do not obey the rules and of course do not have licenses of financial regulators;
3. Many exchanges are monopolists and may be subject to dishonest trade organizers, as these large companies can easily manipulate the market, thereby causing greater volatility of cryptocurrency assets;
4. In most cases, to make a trade operation of a little-known currency, the user must first buy a more popular currency, and then make the exchange for the desired one. This process takes a lot of time and is very expensive;
5. Most exchanges do not have little-known cryptocurrencies in their list and it is very often difficult for an ordinary user to buy such coins, they are simply almost nowhere;
6. Since it will be possible to conduct ICO on the platform, all users will receive tokens of these ICO.

It is by observing so many significant problems in the cryptocurrency exchange industry that the team has developed a set of solutions that will eliminate all the above problems and created its own convenient decentralized platform for LocalCoinSwap exchange. First of all, the creation of such an assistant is aimed at facilitating the life of an ordinary user.

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An interesting feature of the platform will be that users will participate in solving many questions about the company's further development. This approach will ensure the development of the platform taking into account all the wishes of customers.

To implement all the team's plans, an ICO is currently being held

According to the developers of LocalCoinSwap, their tokens (LCS) will become real shares of the company. This approach of acquiring company shares using blockchain technology is more reliable, transparent and secure. All owners of LCS tokens will receive dividends that guarantee 100% profit. They will be paid in cryptocurrency. According to the development plan, the LocalCoinSwap platform will be fully launched in August 2018.

The initial offer of LCS tokens started in March and ends on June 15 this year. The cost of one token is equal to 0,0004 Ethereum (ETH) or 2500 LCS = 1 ETH. Results will be released 100 000 000 token LCS, of which 70 000 000 tokens the LCS allocated for pre-sale ICO.

The remaining tokens will be distributed as follows:

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Soft Cap has already been collected, but you still have the opportunity to participate in the token sale. All funds raised will be used to expand the number of cryptocurrency pairs, implement all team solutions and develop the platform.

Summary and conclusions

The creation of such a platform will significantly save money for traders, ordinary buyers of digital money, increase the reliability and speed of transactions by making all transactions directly between users. Also, the introduction of complete anonymity will ensure the desire of the majority of users not to disclose their personal data and identity documents that can be stolen during hacker attacks on the traditional centralized exchange. Despite the fact that there are currently markets for direct exchange between users, not all solve the existing problems of the industry and combine the promotion of token holders and exchange partners.

Friends, thank you for reading! What do you think about LocalCoinSwap?

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For those who are interested in the project spread links to official sources:

11111.png Website: https://www.localcoinswap.com/index.html
1111.png Bitcointalk thread: https://bitcointalk.org/index.php?topic=3009721.0
wp1.png Whitepaper: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf
Telegram-icon.png Telegram group: https://t.me/localcoinswap/
fb2.png Facebook: https://www.facebook.com/localcoinswap/
tw3.png Twitter: https://twitter.com/localcoinswap_/
rd1.png Reddit: https://www.reddit.com/r/LocalCoinSwap/
111.png Medium: https://medium.com/localcoinswap
st4.png Steemit: https://steemit.com/@localcoinswap/

1111.png My bitcointalk: https://bitcointalk.org/index.php?action=profile;u=1187301

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Another decentralized exchange. The idea is cool, let's see how the developers will cope.

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You got a 2.66% upvote from @upme thanks to @alekseycrypto! Send at least 3 SBD or 3 STEEM to get upvote for next round. Delegate STEEM POWER and start earning 100% daily payouts ( no commission ).

Hi! I liked the idea of such an exchange. Thanks for the review, everything is clear and accessible.

Yes, indeed, it has many advantages over most decentralized exchanges.

I wonder whether the voting process for the exchange's development will work?

It should be a long time before ICO is launched on this platform.

Idea super! You need to buy a token, it turns out that it will be a passive income.

I liked the fact that all the profits of the exchange will be distributed among the owners of the token.

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