LocalCoinSwap (LCS) ICO Review
Cryptocurrency and alternative blockchain-powered monetary systems are now far from a new thing. Individuals, corporate entities, banks and other governmental institutions from almost every modern industrial sector are now involved in this current, yet volatile ICO-flooded market. Having done a lot of findings I will be focusing on this fascinating new innovative approach of peer-to-peer direct exchanges. LocalCoinSwap is a brand new start-up trying to solve one of the most important problems in the cryptocurrency scene, the inability to directly purchase any coin or token from anyone,thereby avoiding centralized exchange markets and enormous fees one may encounter during transactions held on a third-party website.
LocalCoinSwap is a decentralized marketplace run by individual users, who have the ability to buy and sell any cryptocurrency with any possible payment method, directly, without the need for an external exchange market, or Coinbase-like vault platforms.
As prementioned, it is something similar to LocalBitcoins, only it could be described as a “LocalAnyCoin”, since the prior allows users to buy and sell only Bitcoins with any possible payment method, including hand to hand meetups.
The most integral part of any exchange is its escrow system. The development team at LocalCoinSwap knows that very well as it’ll be using a highly secure escrow system, which will tackle all the inherent trust issues common in online P2P trading. Plus, this ecosystem is planning to support all the different choices of cryptocurrencies. After considering all these aspects, this ecosystem will prove to be the catalyst for expanding the existing cryptocurrency market. The platform has all the right processes, algorithms, and technologies that’ll eliminate the barriers preventing new traders to enter the crypto trading market.
A distributed ownership model
LocalCoinSwap is the future of the crypto exchanges. This ecosystem relies on developing a robust P2P exchange that follows a really innovative distributive ownership model. With this model in place, the platform aims to bridge the gap existing between this exchange and its users. In a way, this ecosystem is one of the pioneers of sharing platform profits with the end users.
Benefits of LCS Token
LocalCoinSwap has its own token, called LCS, which will be acting as an active cryptoshare. The platform wants to distribute literally 100% of its profits made by their p2p exchange service to the respective shareholders. So, as the site grows and more trades take place under its umbrella, the more relevant and strong your share gets, pretty much like a traditional stock-based company.
Dominant exchanges suffer from centralized banking and trading restrictions which features a completely distributed peer to peer trading system.there are no centralized bank accounts,no verification requirements, and no restrictions on trade
With LocalCoinSwap you can easily find a match that wants to buy or sell exactly what you’re looking to sell or buy, respectively. Your trade will be held and performed on the LCS platform which uses the traditional escrow system, where it holds the coins to be exchanged, gets a confirmation of the payment from the other end, then releases the coins to the customer. All that with fees ranging from 3% to 10%, pretty much the same as on LocalBitcoins.
cryptoshare holders receive airdrops of new ico tokens listed on the localcoinswap platform in such a way that it provides a listing service for new ICO tokens to allow them to launch on the LocalCoinSwap platform or raise pre-ICO and presale funding. When new tokens are listed Cryptoshare holders receive an advance airdrop, as well as access to special offers on new listings
The total supply of LCS tokens is set to 100 million units, with 70 million distributed through their crowdsale stages to individual investors and will make the circulating supply, while 20 million tokens will be reserved in a frozen state for later use. All unsold tokens will be burned to benefit early participants right away. Only 10 million will be reserved for the platform in order to operate and keep updating their services over time.
$500.000 and $20.000.000 USD are the figures for the soft and absolute hard cap, respectively, and the project will be 100% transparent, with their OpenSource code on GitHub being accessible by everyone. And the starting price of an LCS is set to 0.0004 ETH, making 1 ETH equal to 2500 LCS.
The LCS team, while young, is highly skilled with a strong professional background.
Nathan Worsley, having a Bachelor and Major in Economics, is a developer of a series of successful trading algorithms based on Triangular Arbitrage between cryptocurrencies. Residing in Hong Kong, he is the founder of the company and currently its CTO. He is also behind Digital Assets Management Ltd and an experienced high volume P2P trader on LocalBitcoins.com himself.
Thomas Underwood, the CFO of the team, has a Bachelor of Commerce and Major in Accounting and Finance. He’s an experienced financial analyst and business development manager, with roles at major Australian and international private companies and he is also the Australian Regional Manager for TradingView.com
The team goes on including international professionals specialized in financial services, pure mathematics, data analysis and computer science, and many blockchain experts. All of them with decades of pre-history in the industrial sector of the economy.
And Key advisers include Mr. David S. Lee, with prehistory in Goldman Sachs, while having multiple degrees from UCLA School of Law, the London School of Economics and Political Science, Harvard University, and Brigham Young University.
It is clear that they’ve done their math on recruiting and the team has filled every corner with the necessary shapes of human assets when it comes to professionals in the financial sector.
A definitive objective of this trade is to take care of the considerable number of issues that brought together, as well as decentralized, trades confront today and also the capacity to purchase and offer any cryptographic money with any installment strategy
In this way, if LocalCoinSwap’s crypto idea arouses your advantage, at that point this undertaking is likely implied for you. Be that as it may, you can likewise do some examination on LCS ICO by going to the site beneath.
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