LocalCoinSwap ICO boasts their one of a kind P2P trading platform. A decentralized marketplace that allows direct trading between buyers and sellers.
When you check their company's website, you will notice an unfamiliar tagline “The only exchange that distributes 100% of profits back to token holders”. You don’t see this every day from an ICO.
But of course, regardless of an inviting intro, thorough research and analyzation should be done before anyone gets into the pool. So, let’s take a closer look on what LocalCoinSwap ICO is all about and what it offers.
The Platform
As mentioned earlier, LocalCoinSwap introduces an innovative platform and gives a new face to direct selling and buying of cryptocurrencies. Wherein, they are aiming for a transparent, safe, uncomplicated and fast P2P (peer to peer) trading. Their market platform is decentralized, which could eliminate issues of frozen bank accounts, unreasonable verification requirements and restrictions on trading.
Peer to Peer Trading
The highlight of this platform is its ability to perform P2P trading without utilizing an external exchange market. This is somewhat similar to other P2P exchange markets but with LocalCoinSwap you can use multiple cryptocurrencies to trade in one place. Shareholders can buy and sell any cryptocurrency through any type of payment method. The usual cryptocurrency trading restrictions will not be in place in this platform.
For example, if want to cash-out a certain crypto before the price goes down or buy it before it skyrockets, you have no choice but to go through multiple websites and wallets just to complete your transaction. And most of the time, you end up sobbing at the corner because it was already too late when you finally traded your precious coins and the worse thing was you spent a ton of fees by doing so.
So, through this simple process of trading different cryptocurrencies inside the platform, users will be able to save time from complex trading and at the same time save money from the fees charged when trading from different external markets.
Decentralized Ecosystem
All shareholders are treated as valuable members of the community. And by doing so, each and every one is entitled to provide their input on site development and new business ventures.
The platform will be using a proof-of-stake voting system for shareholders to use to come up with the final decision on the community’s new ventures.
Security and Transparency
To establish trust in this P2P platform, they will be using a highly secured escrow system to prevent any security issues found in online P2P trading.
And to ensure transparency, they will be using their OpenSource code on GitHub for everyone to access.
Cryptoshare LCS Token
LCS will be LocalCoinSwap’s official token and its cryptoshare token.
The company will be giving back 100% of its P2P exchange service profits to all shareholders which would literally make each share grow as the site grows. This simply means that every shareholder has complete ownership of their share of profits. Basically, it’s like the traditional stock-based company.
They will initially launch 10 of the most traded cryptocurrencies in the market. And as the platform continues to develop, the company will the add new coins in the market pool to eventually cover all the shareholders’ needs.
For upcoming ICO listings, regular airdrops of new coins will be sent to each user. Of which, Cryptoshare token holders are entitled to vote which would make it to the list. Token holders will utilize a proof-of-stake voting system. This will also keep all shareholders in doing new business ventures using the LCS token.
How LCS Token Works
Token Prices, Soft and Hard Cap
During the ICO, token is at 0.4 USD per LCS. Soft cap has been set to $500,000USD and hard cap is at $20,000,000USD. The total number of tokens that will be on sale through Pre-ICO, Pre-sale and ICO is 70,000,000 LCS tokens.
Token Allocations
100,000,000 tokens – total supply of Cryptoshares.
70,000,000 tokens – available tokens on Pre-ICO, Pre-sale and ICO.
20,000,000 tokens – will be reserved for later use and will be frozen for a year.
5,000,000 – reserved for security reward program.
5,000,000 – reserved for bounty programs.
Crowdsale Bonus
Initially, 40% will be allocated for the presale bonus. And for each milestone reached during the ICO stages, shareholders will be entitled to a 5% additional Cryptoshares. However, if 10,000,000 Cryptoshares has been distributed during the presale, the sale will be closed.
Here’s an overview of the Crowdsale Bonus structure:
$5,000,000 of funding reached - 5% additional tokens.
$10,000,000 of funding reached - 5% additional tokens.
$15,000,000 of funding reached - 5% additional tokens.
$20,000,000 of funding reached: 5% additional tokens.
Fund Allocations
30% - will be allocated for the platform’s security system.
30% - will be allocated for the addition of new cryptocurrencies.
20% - will be allocated for platform development.
15% - will be allocated for marketing and business development.
5% - will be allocated for administration costs.
Summary
Here’s an overview of what LocalCoinSwap has to offer:
The company is building a revolutionized trading platform that would allow P2P cryptocurrency exchange.
In relation to their platform, they have launched a Cryptoshare ICO. Wherein, they will give back 100% of its site’s profits to all shareholders.
10 leading cryptocurrencies will initially be launched in their platform.
The dividend currencies will be the same currencies that will be used in trading.
The whole system is decentralized. Each and every shareholder can directly trade easily with each other without any restrictions on the type of cryptocurrency being used nor payment method. Every one in the platform is entitled to provide their inputs on site development and new business ventures.
Airdrops of new ICOs will be sent regularly to shareholders.
An OpenSource code on GitHub will be available for everyone to access.
The Verdict
Cryptocurrency trading has been very interesting to many but at the same time intimidating due to its complexity and heavily restricted trading process. Trading became too inconvenient that some enthusiasts just let go of the idea.
But with what LocalCoinSwap offers by making crypto trading simple and easy, more and more people will be encouraged to get into the market bubble and less traders will be losing a chunk on their assets.
In the company's platform, significant growth opportunity can be foreseen. Based on the generous offers and simpler trading process they present, it is not impossible that a lot of investors will be encouraged to support the community.
However, there are other major players in the market with the similar platform. And they would have to compete with them. This could be a roadblock towards their community expansion.
On the other hand, the revisions that they did in direct crypto trading can be their competitive advantage and will turn the tables in the marketplace and could make them the biggest P2P decentralized marketplace.
For more information about LocalCoinSwap (Cryptoshare LCS) please visit the links below:
