The development of blockchain technology is increasing rapidly, almost in all sectors of this technology business can be applied. One of the platforms that use this technology is LocalCoinSwap. This platform will bridge buyers and sellers to trade directly using cryptocurrency with any payment method. LocalCoinSwap provides a secure, uncomplicated and fast peer-to-peer (P2P) trading platform, allowing users to exchange freely without unnecessary verification requirements or waiting times. The platform uses a secure escrow system that solves the trust issues inherent in online P2P trading.
Market problems cryptocurrency
The development of blockchain technology is accompanied by the rapid development of cryptocurrency. However, the development of cryptocurrency causes a lot of problems that arise in the market.
- The amount of friction with the banking system, the friction with government regulations, and the friction against conservative institutions that have closed trader accounts and exchanges in bulk, spreading feuding in the media, and forcing the enforcement of burdensome verification procedures that have violated the privacy of the public.
- Cryptocurrency has created great economic and investment opportunities. But it is not balanced with the patience of Krypto users or technological sophistication, inefficient subscription processing, and security issues.
- Cryptocurrency users find it difficult to create accounts in cryptocurrency exchanges.
- A large number of Krypto exchange places that restrict new account registrars because of user rules to expose themselves to identity and theft fraud by sending their passport photos and personal documents online.
- The existence of rules to the user to transfer funds abroad to companies in countries without legal supervision.
- Existing P2P markets are also highly fragmented and not inclusive, so traders who want to buy and sell outside some cryptocurrency must access P2P exchanges and mainstream exchange on centrally.
- There is currently no mainstream P2P market that allows more than one cryptocurrency to trade for fiat currencies simultaneously. This will create a burdensome additional cost for users who simply want to buy non-mainstream cryptocurrency with cash as their starting point, as they need to use more than one exchange and pay all associated costs to complete their purchase.
- Users, They also have to pay the transaction fees involved in withdrawal from one market to another. This not only increases user inconvenience and wallet software requirements but also exposes users to platform failures or hacking.
- Centralized ownership and highly confidential corporate structure for mainstream exchange allow fewer investment opportunities for individuals.
- The gigantic monopoly now dominates the currency market of cryptocurrency as opposed to the very fundamental global economic inefficiencies that blockchain technology has to solve.
Solution from LocalCoinSwap
The rapid growth of cryptocurrency led to the growth of ecosystems and the idea of ​​a Krypto-based platform, one of which LocalCoinSwap embraces the ideas of decentralization and cryptocurrency trade indefinitely.
- LocalCoinSwap represents a return to the most basic system of asset exchange without relying on a major institution – P2P trading.
- LocalCoinSwap will enable P2P trading of all digital currencies so LocalCoinSwap will return the market to its users, enabling them to directly trade cryptocurrency using any payment method in any geographical location.
- LocalCoinSwap sees no loophole in the cryptocurrency market that will create an underserved demand that will create the merchants participating.
- LocalCoinSwap infrastructure will close this gap in the market, not only by offering P2P exchanges for all cryptocurrencies but also authorizing ownership of the exchange itself into the hands of its users through the world’s first Cryptoshare system.
- LocalCoinSwap creates an LCS token, this token runs on a Cryptoshare LCS system using blockchain technology to replicate traditional enterprise ownership through shares in a more secure and decentralized way.
- Just like the issuance of common shares and profits distributed through dividends, LocalCoinSwap issues Cryptoshares which grants the token holder the normal token tokens that can be redeemed.
- Unlike traditional financial organizations, LocalCoinSwap’s ownership and dividend structures are fully hosted on Blockchain, providing an auditable and unpredictable financial performance.
- LCS Cryptoshares allows all merchants in the stock to take ownership of the platforms where they trade.
- LocalCoinSwap concepts are folded instantly, so LocalCoinSwap is the first implementation of an exchange where profits are distributed entirely through the smart contract Cryptoshare system, with an initial launch planned in August 2018.
LocalCoinSwap Token (LCS)
LCS is a unique token but not a traditional token. LCS will grant privileges to its users.
- This token shall entitle the holder to guarantee the right to 100% of the total profits of the Localcoinswap exchange through the dividend of cryptocurrency.
- Cryptocurrency benefits are paid to shareholders in the same cryptocurrency in which they are created, allowing investors to receive regular portfolio revenue streams.
- By holding a single Cryptoshare asset, investors are entitled to the benefits of cryptocurrency across the digital economy spectrum.
- Cryptoshare holders are also entitled to receive new token air tokens when ICO is registered on the LocalCoinSwap platform.
- In addition, LCS Cryptoshares grants the rights to the voting rights in the platform decision-making process, such as new token listing on the exchange, new business direction, and design considerations or functionality for the platform.
- Cryptoshares in LocalCoinSwap is more than just a flow of dividends, by investing you into an integral part of the future of the exchange itself.
How the LocalCoinSwap token its works
Token LCS Cryptoshare has a protocol that will distribute investor dividend and the investor will receive token voting. It can only be achieved with existing technology and does not require fundamental progress in Blockchain technology to be implemented. The focus of Cryptoshare development is on the direct utility provided to the user rather than aiming to be a disruptive technology.
- Each financial period, earnings for all cryptocurrencies is calculated and published publicly before being redistributed to the holders of LCS Cryptoshare. Dashboards are available on the LocalCoinSwap platform detailing distribution dates, quantities, and details for the current period.
- LCS token holders may claim dividends of ETH, BTC, BCH, DASH, ETC or Monero on a 1-to-1 basis in accordance with their Cryptoshares ownership.
- After claiming the dividend token, the holder may use a token to sign a message containing their wallet address for the currency they wish to claim.
- They then broadcast the message and the dividend token back to the LocalCoinSwap decentralized contract address, at which point the dividend currency is automatically sent to their respective wallets. Alternatively, the dividend token can be redeemed directly into the balance of the user account’s wallet on the LocalCoinSwap platform.
- LCS token holders no obligation to redeem the revenue of the Cryptocurrency portfolio into the LCS holders’ personal wallet, and users may retain their dividend token, choose to redeem their funds at a later date, or even liquidate tokens through out-of-market sales.
- The dividend LCS may act as a placeholder for all cryptocurrency portfolios, without forcing users to deal with the process of setting up multiple cryptocurrency purses.
Information for the LCS token ico period.
The LCS Token is a token created and developed LocalCoinSwap platform, this token runs on the Ethereum network and has been published in the ICO period. Total supply for the ICO period of 100,000,000 LCS, with an allocation for presale / pre-ico / ico of 70,000,000. Users or Investors can make purchases through the link www.localcoinswap.com using your digital assets in the form of ETH, BTC, USDT, BCH, XRP, USD, EUR, GBP, AUD, NZD, CAD, and others. The ico period has been implemented and now you can contribute and get various purchase bonuses.
Conclusion
The digital currency ecosystem relies on the development of powerful P2P exchanges that support multiple cryptocurrency options. The innovative distributed ownership model offered by Cryptoshares LCS will bridge this gap in the market while providing the advantages of the platform back into the hands of its users. In addition, LocalCoinSwap will be the catalyst for cryptocurrency market expansion by allowing new users through the removal of all barriers to entry.