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LocalCoinSwap (LCS) ICO Review – ICO Token News

Today, centralized cryptocurrency exchanges have security risks, inefficiencies, unreasonable verification needs, and long wait times. This way, these ecosystems may follow unethical business practices that include front running, deceptive pricing, and insider trading. With these problems, the exchanges will never become secure and transparent in their business dealings.

Because of this, there’ll be a need to create a peer-to-peer (P2P) marketplace  providing defined, direct access between sellers and buyers — which actually represents the purest form of free market trading. Such a decentralized cryptocurrency marketplace is what LocalCoinSwap is trying to achieve with its ecosystem. This platform implements a new approach to the traditional company ownership, by unleashing the power of blockchain technology. With this technology, the platform’s profits can be distributed to its token holders in the most transparent way.

LocalCoinSwap analysis

LocalCoinSwap is a decentralized market that’ll allow sellers and buyers to directly trade using any cryptocurrency; the trade will be done using different payment methods. With this ecosystem, it’ll be simpler and easier to offer a safe, fast, uncomplicated P2P trading platform. This platform will let its users freely exchange cryptocurrencies without worrying about needless waiting times or verification requirements.

LocalCoinSwap

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. 

LocalCoinSwap innovation 

Innovation is what gives any project the edge over its competitors; it is the same with ICOs. Today, a leading ICO list will include a range of original projects such as Guardium, CryptoLoans, BunnyToken, BitCAD, Zupply. Just like them, there’s now LocalCoinSwap — a crypto exchange that’ll make cryptocurrency trading simpler, more decentralized, and more efficient than before. 

An all-inclusive crypto exchange 

  1. This cryptocurrency exchange will emphasize economical costs for all traders.
  2. The platform will streamline all the peer-to-peer transactions, and that means the traders won’t be required to pay any fees to the intermediaries.
  3. This crypto exchange will support a greater number of payment methods than other P2P crypto exchanges offer today.
  4. Overall, this ecosystem is a true crypto exchange that’ll reintroduce decentralization in the world of crypto trading.

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.

LocalCoinSwap token allocation

A robust escrow system

LocalCoinSwap has a stable escrow system that’ll act as a solid intermediary between the sellers and buyers. Whenever trading is done, this platform will take the possession of a transaction’s cryptocurrency portion. If, however, the traders exchange fiat currencies, the trading will be done directly between the involved parties. In the case of crypto trading, once the payment is done, and the seller verifies the transaction that has fiat currency, the crypto will be released to the buyer. This escrow system is designed to prevent the user funds from getting locked while the market is volatile.

The real problem-solver is here

This decentralized crypto exchange has the clear aim of solving all the problems that come with centralized and semi-decentralized exchanges. Some of these problems are listed below.

  • For the most part, centralized exchanges restrict new-user registrations — or, sometimes, they need users to divulge really intimate identity-related information before trading.
  • Most centralized crypto exchanges follow unclear regulations based on the countries in which they operate.
  • All the existing decentralized cryptocurrency exchanges are not only non-inclusive but also fragmented.
  • Decentralized exchanges are especially problematic for all those who trade using lesser known fiat currencies or digital currencies.
  • Many exchanges force the users to swap all the lesser known cryptocoins for a popular cryptocurrency such as ETH or BTC. Then only, will they allow the traders to buy the cryptocurrency they need.
  • Additionally, the exchanges of today don’t permit users to share the profits generated.  

LocalCoinSwap ICO sale

The tokens of the platform are known as LCS Cryptoshares. The token holders, here, are allowed to access the entire portfolio with just a single asset. Moreover, these token holders will be given special voting rights on the platform. By using a special voting mechanism, this crypto exchange will embrace the truest version of peer-owned decentralization. 

Other ICO details 

  • Ticker : LCS.
  • Price : 1 LCS token = 0.0004 ETH (1 ETH = 2500 LCS tokens).
  • LCS maximum supply : 100,000,000 tokens.
  • Available through Pre-ICO/Presale/ICO : 70,000,000 tokens.
  • Token freeze : 20,000,000.
  • Token burn : All unsold.
  • Payment currencies : BTC, ETH, BCH, XRP, USDT, USD, EUR, GBP, CAD, NZD, AUD and more.
  • Soft cap : USD500,000.
  • Absolute hard cap : USD 20,000,000 (all the remaining tokens will be destroyed.) 

LocalCoinSwap ICO details

LocalCoinSwap team 

This ecosystem is managed by Aapeli Vuorinen who’s a lead security engineer, white-hat hacker, data analyst, and full-stack developer. He has the experience of more than a decade. Apart from him, the team includes a range of other Fintech experts and blockchain specialists who’re working hard to make sure that decentralization remains at the heart of this crypto exchange. 

Summarizing LocalCoinSwap 

This cryptocurrency ecosystem is set to revolutionize the way exchanges are built and managed—it’s quite similar to other groundbreaking ICO  projects such as ArmPack, THEKEYTrustaBit, MedTokens, Play2Live. The ultimate goal of this exchange is to solve all the problems that not only centralized, but also decentralized, exchanges face today.

So, if LocalCoinSwap’s crypto concept piques your interest, then this project is probably meant for you. However, we always suggest that you go through ICO’s page before making the final call.

Team

  • Nathan Worsley
    Nathan Worsley
    Nathan Worsley
    (Chief Technical Officer - Bachelor of Economics (Major in Econometrics)) - Early investor in Bitcoin and Ethereum. Developer of a series of successful trading algorithms based on Triangular Arbitrage between cryptocurrencies. Original founder of company as a cryptocurrency investment fund based in Hong Kong: Digital Assets Management Ltd.
  • Thomas Underwood
    Thomas Underwood
    Thomas Underwood
    (Chief Financial Officer - Bachelor of Commerce (Major in Accounting and Finance)) - Experienced financial analyst and business development manager, with roles at major Australian and international private companies.
  • Daniel Worsley
    Daniel Worsley
    Daniel Worsley
    (Chief of Operations - Bachelor of Economics (Major in Quantitative Methods)) - Experienced in business strategy, operations and quantitative analysis. Successful stock and commodities trader in several financial markets over the last 8 years.
  • Aapeli Vuorinen
    Aapeli Vuorinen
    Aapeli Vuorinen
    (Lead Security Engineer - Bachelor of Mathematics (Major in Pure Maths)) - Data analyst, white-hat hacker and full-stack developer. Over 10 years of experience in software development and systems administration.
  • Taylor Scheel
    Taylor Scheel
    Taylor Scheel
    (Blockchain Developer - Bachelor of Science) - Originally a clinical molecular genetic scientist working in a laboratory before a passion for the Blockchain and disruptive technologies led to him becoming a digital nomad and full-time solidity developer.
  • Kevin Sparks
    Kevin Sparks
    Kevin Sparks
    (Lead Developer - Developer degree in Computer Science) - Experienced full-stack Python and JavaScript engineer with a bias for action and proven experience in delivering reliable software.
  • Valéri Natanelov
    Valéri Natanelov
    Valéri Natanelov
    (Chief Marketing Officer - PhD, Commodity Futures Markets) - Entrepreneur, the founder and CEO of growAbric (knowledge brokering and design thinking company). Lifelong blockchain enthusiast.
  • Yonatan Cohen
    Yonatan Cohen
    Yonatan Cohen
    (UX/UI Designer - MUZE Agency) - UX Design Expert, consultant, and Partner at Muze Design Agency. Has many years of experience in User Experience (UX) Planning, User Interface (UI) Design, Branding, Digital Strategy, Web Design & Development.
  • Maya Middlemiss
    Maya Middlemiss
    Maya Middlemiss
    (PR Representative and Content Writer) - Experienced freelance writer and journalist, with a background in consumer research, social media user testing and business consultancy.
  • Ravi Ojha
    Ravi Ojha
    Ravi Ojha
    (Product Lead Developer) - A product person, cares intensely about user experience and believes in data-driven decisions. Software Engineer by passion.

Milestones

  • 1
    12.2015
    Company incorporation
  • 2
    09.2016
    Initial team members established
  • 3
    03.2017
    Concept development
  • 4
    08.2017
    AUGUST 2017 Development on exchange begins
  • 5
    02.2018
    Official whitepaper launch
    Pre-ICO
  • 6
    04.2018
    Cryptoshare ICO
  • 7
    05.2018
    Submission for exchange listings
  • 8
    06.2018
    Early investor access to platform
  • 9
    07.2018
    First Cryptoshare holder vote
  • 10
    08.2018
    Launch date for exchange
  • 11
    10.2018
    Integrated REST API
  • 12
    01.2019
    Mobile trading application
  • 13
    02.2019
    Start of dividend distributions

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