Cryptocurrency since it’s creation in 2008 gas gained ground and it seems like we can’t do without it now (it’s here to stay). This is so because new cryptocurrencies keep popping into the market every day and the technology behind it (blockchain technology) is finding its way into every business and every company.
In 2017 the market capitalization of cryptocurrency hits 700 billion, this caused unrest in the banking system, this is because the blockchain technology is in every way preferable than the traditional banking system. The blockchain is fast and has less transaction fee. In return the banking system also causes unrest in the crypto world, giving rise to endless verification and registration in what should be an anonymous community.
With this case of long verification and registration, new and old users find it difficult to change their fiat directly into their desired cryptocurrency, this is because it requires users to change their fiat into a mainstream cryptocurrency (bitcoin or Ethereum) before they are able to change their fiat into the desired cryptocurrency.
Imagine Charles have $100 and he wants to buy cryptocurrency A he will have to change from fiat to bitcoin, first he goes to exchange to buy bitcoin, the exchange charges him about $5 of his bitcoin for transaction he ends up getting $95 worth of bitcoin which he transfers to the exchange where he will be able to buy crypto A. The transfer fee cost him extra $5 leaving him with $90 to buy crypto A. After exchanging his bitcoin to crypto A he wants to transfer his coin to his wallet, the exchange charge him $10 worth of crypto A, so he ends up getting $80 worth of crypto A.
This kind of process of exchange is not only tiring but also a waste of fund. And because of its complexity, most newcomers just give up.
What if there is a less complex way of exchanging fiat to the desired cryptocurrency? What if investors are able to change their fiat to the desired cryptocurrency directly?
LOCALCOINSWAP (LCS)
LocalCoinSwap (LCS) is a decentralized marketplace which allows buyers and sellers to trade directly in any cryptocurrency using any method of payment. LocalCoinSwap provides a safe, uncomplicated and fast Peer-to-Peer (P2P) trading platform, allowing users to freely exchange without unnecessary verification requirement or waiting time.
Let's think of this platform like a trade by barter platform, where the whole market process is in the hands of users. Charles need cryptocurrency he has fiat someone else has cryptocurrency A and need fiat, LocalCoinSwap will allow them to trade directly without the need for changing to a mainstream token before exchanging.
The platform utilizes a secure escrow system that solves the inherent trust issues of online P2P trading.
LCS will allow for a wide range of exchange pairs from fiat to any cryptocurrency. This will put the market back in the hands of users, this will allow users to trade any cryptocurrency using any conceivable payment method in any geographical location.
LocalCoinSwap will also tokenize ownership of the exchange itself into the hands of its users through the world first Cryptoshare system.
LOCALCOINSWAP CRYPTOSHARE
LCS Cryptoshares are not like traditional ICO tokens. Instead of a vague promise of possible future returns or idealistic visions which may never eventuate into the product, Cryptoshares entitle the holders to guaranteed rights to 100% of the total profits from the Localcoinswap exchange through cryptocurrency dividends.
Using the LCS cryptoshare platform will be like having shares in a real company, this is because profit made by the exchange will be paid to shareholders in the same currencies that the profit is made from, this will give investors a regular income on their portfolio income.
Investors of LCS will have a say in the decision-making process and listing decisions on the exchange because the token will not only give them streams of dividends but also grants them voting rights in the decision-making process.
HOW IT WORKS
After investors purchase the LCS token during ICO, they will receive the token into their corresponding ERC-20 addresses, after the end of each financial period dividends are calculated and sent to each holder addresses.
LCS Token
| Token | LCS |
|---|---|
| Price | 1 LCS = 0.4 USD |
| Bounty | Available |
| Platform | Ethereum |
| Accepting | ETH, BTC, XRP, Fiat |
| Minimum investment | 0.1 ETH |
| Soft cap | 500,000 USD |
| Hard cap | 20,000,000 USD |
| Country | Hong Kong |
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