Answering all the questions about LocalCoinSwap
By: Tom Underwood
Tags: Business, Investing, Finance, Blockchain, Bitcoin

The LocalCoinSwap ICO presale is still two weeks away and we have already attracted a huge amount of interest from investors looking to get their hands on a limited number of bonus LocalCoinSwap Cryptoshares.

The news of our project has spread well beyond our wildest exceptions with our social media platforms lighting up with questions and comments from the crypto community.

With an ICO that officially begins in less than two weeks and a P2P exchange platform that is on track to be launched in August this year, we thought it would be good to go over some of the basics about LocalCoinSwap as well as answering the most popular questions we keep hearing from the community.

If you want all the gritty details, head over to our website at LocalCoinSwap.com and download our Whitepaper to get the full story.

What is LocalCoinSwap?

LocalCoinSwap is a peer-to-peer cryptocurrency exchange with the goal of providing trading on all major coins. What is perhaps the biggest gap still existing in the cryptocurrency market is the fact that no single website offers direct P2P trading for more than one coin.

Crypto exchanges in their current form are incapable of sufficiently servicing the growing demand of the community. By creating an all encompassing P2P exchange, new money and participants will be able to flow into the crypto space like never before.

Who started LocalCoinSwap?

LocalCoinSwap was started by a group of friends who had already been involved in the crypto space since its early stages. Looking to create a solution to our own needs, we decided it was necessary to build a fully-secure P2P exchange that offers trading on a wide variety of coins.

Since then, our project has taken off and we now employ a number of full-time staff who are all at the top of their respective fields. Check out the Team page on our website for a full list of members and advisors.

If LocalCoinSwap is a single website, how is it decentralised?

The key component of a decentralised market is the fact that there is no single buyer or seller. LocalCoinSwap will create the infrastructure giving global participants the ability to trade directly and seamlessly amongst themselves — allowing the community to build up their own thriving market place.

In addition to this, 100% of the profit earned by the exchange will be distributed back to the LCS Cryptoshare holders (which are sold during the ICO). We will also vote on all key issues pertaining to the exchange, which will take place through LCS voting tokens distributed to LCS Cryptoshare holders.

What are LocalCoinSwap Cryptoshares?

What is perhaps the biggest feature of the LocalCoinSwap ICO is the new approach to crypto business’ ownership structures through Cryptoshares. By utilising blockchain and smart contract technology, LocalCoinSwap provides a novel approach to traditional company ownership.

LCS Cryptoshares will give holders entitlement to a 100% share in the profits earned by the exchange as well as voting rights to how the exchange is operated.

The motivation behind the Cryptoshare was putting the exchange into the hands of the community, resulting in a decentralised exchange with decentralised ownership and decision making process that includes input from those affected most.

When will I be able to use LocalCoinSwap exchange?

Construction on the exchange started well before deciding to hold an ICO for the project, as such we expect to have the exchange fully operational by August of this year.

LocalCoinSwap is not a fanciful crypto business with an unrealistic prospect of ever coming to fruition — unlike many of the projects currently being sold through ICOs. LCS is real exchange with real man hours and dollars having already been invested in the project.

What are the LocalCoinSwap exchange features?

The LocalCoinSwap exchange platform is being developed by an experienced team of dedicated professionals. The core development philosophy is to design the exchange with a focus on user experience, constant coin additions and community activity.

Wide variety of cryptocurrencies: LocalCoinSwap plans to begin operations with more than 10 tradable coins on offer and with continuous ongoing integration.

LocalCoinSwap plans to begin operations with more than 10 tradable coins on offer and with continuous ongoing integration. Immediate trading: Begin interacting and trading with the community immediately, with an instant registration process.

Begin interacting and trading with the community immediately, with an instant registration process. Simplified fee structure: An escrow commission fee is charged only to the seller of the transaction. No additional hidden charges or fees, the price the buyer sees is the price the buyer pays.

An escrow commission fee is charged only to the seller of the transaction. No additional hidden charges or fees, the price the buyer sees is the price the buyer pays. Escrow system: LocalCoinSwap utilises are secure escrow mechanism to ensure both parties are protected during the transaction.

LocalCoinSwap utilises are secure escrow mechanism to ensure both parties are protected during the transaction. Dispute resolution: LocalCoinSwap has case studied all reasonably foreseeable disputes and created processes to handle each fairly.

LocalCoinSwap has case studied all reasonably foreseeable disputes and created processes to handle each fairly. Complete exchange security: A full-time dedicated security team has been enlisted to safeguard vulnerable information at all times along with regular external security audits.

A full-time dedicated security team has been enlisted to safeguard vulnerable information at all times along with regular external security audits. Community engagement: Community engagement will come from both regular updates from LocalCoinSwap staff and a host of social-media features that encourages interactivity between community members.

What cryptocurrencies will LocalCoinSwap offer trading on?

We plan to offer trading on the widest variety of cryptocurrencies and crypto assets possible. One of the major reasons for the ICO is to raise funds to allow the integration of new coins as well as to hear the community’s thoughts on which coins to add.

The LocalCoinSwap exchange will begin operating with trading on the following ten coins, as well as the continuous integration of new coins.

Bitcoin

Ethereum

Ripple

Bitcoin Cash

Litecoin

Cardano

Neo

Stellar

Dash

Monero

What are the LocalCoinSwap ICO details?

The LCS Cryptoshare presale officially begins on March 15 with the goal of raising $20m through the sale of 100m Cryptoshares.

To see the full details on the allocation of LCS Cryptoshares and how raised funds will be used, head over to the ICO details on the LCS website.

What is the LCS Cryptoshare bonus structure?

To incentivise early investors in our project, we have created a tiered bonus structure that rewards those who get involved early.

Check out the Whitepaper for the full details on the LCS ICO and bonus structure.

Is there a bounty program, and if so, how do I get involved?

Yes, LCS has created a bounty program to encourage user engagement and reward those who help promote our platform.

To see the full details, visit our LocalCoinSwap bounty program thread on the Bitcointalk.org forum.

Alternatively, you can get in touch with the LCS team directly by emailing team@localcoinswap.com.

How can I contact LocalCoinSwap team or get involved with the community?

The best way to contact us is through any one of our social media platforms. All members of the team are actively involved in the community and love hearing all feedback.

Facebook

Telegram

Twitter

Instagram

Medium

Reddit