There is no way for people to share in cryptocurrency exchange profits.
People can’t easily trade different payment methods for cryptocurrency.
Current exchanges have onerous verification processes and restrictive capital constraints.
Creating the Solution
We are destroying the barriers to entry. LocalCoinSwap is allowing anyone, anywhere in the world, to quickly and easily trade all varieties of crypto assets. This can be done without onerous verification requirements or restrictions on trade. The platform will support any conceivable payment method. If someone wishes to sell any asset for any payment method, and someone wants to take the other side of the trade - then we will facilitate that transaction.
Unlike the traditional centralised monopolistic model of crypto exchanges, we are decentralising the ownership, the profit, and the developmental decision making process. This allows us to create a community based platform that represents the needs and wants of the users.
How does the project create value to the ecosystem
The Cryptocurrency world is currently full of giant monopolies getting rich off the trading actions of its users. LocalCoinSwap will break down the giant exchange monopoly model in favour of a grassroots profit decentralization model.
Unlike competing exchanges, LocalCoinSwap offers a diverse selection of cryptocurrencies without relying on centralized points of failure in its banking system.
LocalCoinSwap is an exchange created for the community, owned by the community. There is no discrimination or exclusiveness. Traders in any country may exchange any cryptocurrency, for any payment method, and share in the profits.
Use of LCS token
Use of Cryptoshares include the portfolio returns from dividend payments, potential capital gains from future increases in price and the voting power to help define how the platform will be developed.
- Portfolio return in the form of dividend payments giving the holder a basket of various cryptocurrencies.
- Capital gains. The hard cap ensures there is room for upwards movement of the Cryptoshare price.
- Voting: Users can vote on decisions about the development of the exchange.
What has been done so far?
Development on the exchange platform began in August of 2017. The main part of the process so far has exclusively focused on the back-end development of the exchange. This has been done to ensure that upmost security has been implemented from day 1. Once the developers finish the final work on the wallet system, a dedicated front end team is ready to take over and polish up the final aesthetics of the platform. While this is happening a dedicated penetrations testing division will concentrate on ironing out any potential flaws in the server system. A code audit will also be complete prior to public release in August 2018.