LocalCoinSwap (LCS) is a decentralized marketplace that allows buyers and sellers to directly trade any cryptocurrency using any payment method. LocalCoinSwap provides a secure, simple, and fast peer-to-peer (P2P) trading platform that allows users to freely swap without unnecessary verification requirements or waiting times. The platform addresses the inherent trust issues of online P2P transactions by utilizing a secure escrow system.

How the project works

Instant registration. No KYC!
No authentication, no wait times, all you need is an email address to get started.
Browse, search and filter offers
You can post your own deal offers, or reply to others' offers. Offers can be filtered by location, payment method, cryptocurrency, and more.
Escrow Protected Transactions
During a transaction, cryptocurrency is locked into a secure escrow system until the seller receives payment directly from the buyer. If you have any questions, our staff will be on hand to help you quickly.
Direct swap with no middleman
Buyer pays seller directly, no LocalCoinSwap or any other third parties involved. Once payment is confirmed, the cryptocurrency is released from escrow to the buyer. Both traders then gave feedback on the trade.

Project advantages

LocalCoinSwap represents a return to the most basic asset trading system without relying on mainstream institutions - P2P trading. By facilitating P2P trading of all digital currencies, LocalCoinSwap will put the market back in the hands of users, allowing them to directly trade any cryptocurrency in any geographic location using any possible payment method.
At present, there is a big gap in the cryptocurrency market, and many user needs cannot be met. For example, in community forums and social media sites where traders participate, users often cannot buy non-mainstream cryptocurrencies quickly or easily. Users also continue to worry about overseas bank transfers and cumbersome verification procedures.
LocalCoinSwap company can meet the various needs of users, not only by providing P2P exchange for all cryptocurrencies, but also delivering the ownership of the exchange itself to users through the world's first crypto stock system.
The LCS Cryptoshare system leverages blockchain technology to replicate traditional corporate ownership through shares in a more secure and decentralized manner. Just like issuing common shares and distributing profits through dividends, LocalCoinSwap issues Cryptoshares, giving holders the right to redeem dividend tokens at regular intervals. Unlike traditional financial institutions, LocalCoinSwap's ownership and dividend structure is fully hosted on the blockchain, providing a publicly auditable and unforgeable ledger of a company's financial health.
LCS Cryptoshare allows all traders on the exchange to take ownership of the platforms they trade. While the concept is straightforward, LocalCoinSwap is the first-ever exchange whose profits are distributed entirely through a smart contract Cryptoshare system, with an initial launch planned for August 2018.

How it works

The protocol behind LCS Cryptoshare, dividend distribution and voting tokens can be implemented entirely with existing blockchain technology. Cryptoshare has been developed with a focus on the immediate utility it provides users rather than disruptive technology.
At the end of each financial period, profits in all cryptocurrencies are calculated and published publicly before being distributed to LCS Cryptoshare holders. A dashboard is available on the LocalCoinSwap platform detailing the date, amount and distribution details for the current period.
In order to claim dividends such as ETH, BTC, BCH, DASH, ETC or Monero, holders of LCS Cryptoshares can independently apply for ERC20 dividend tokens in a 1-to-1 manner according to the Cryptoshares they hold. After claiming dividend tokens, holders can use the tokens to sign a message containing the wallet address of the currency they wish to claim. They then send the message and dividend tokens back to LocalCoinSwap’s decentralized contract address, at which point the dividend tokens are automatically transferred to their respective wallets. Alternatively, dividend tokens can be exchanged directly into the wallet balance of a user account on the LocalCoinSwap platform.
Thus, no one is required to necessarily exchange crypto portfolio income into LCS holders' private wallets, users can hold their dividend tokens and choose to redeem their funds at a later date, or through an off-market Sale of tokens. Thus, the LCS Dividend Token can act as a placeholder for an entire cryptocurrency portfolio without forcing users to set up multiple cryptocurrency wallets.

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