LocalCoinSwap - P2P system for trading crypto-currencies
The main boom of the crypto currency began in 2017. In 2017 alone, the capitalization of the Crypto currency grew more than 3000%. Many investors saw huge opportunities to profit in the market of crypto-currencies. Someone prefers to buy currency for a long time, someone is engaged in speculation for short periods of time, and who uses the crypto currency, as a reliable and fast means of payment.
But also there is a huge number of people who would like to try to invest in the crypto currency, but some aspects they are prevented from doing so. This may be insufficient knowledge, or a lack of understanding of the process, how it all works, or doubts about the safety of the funds invested in the crypto currency. Also, many people may face the problem of opening an account on most exchanges. The reason may be either the lack of the ability to register new users, or the need to provide your personal information. In addition, centralized exchanges can be hacked and investors can lose all their financial resources. The history already knows such examples, for example, the btc-e exchange.
Currently, there are peer-to-peer markets, which are more loyal to users and allow you to purchase crypto currency for fiat money. But these markets also have problems. For example, most often in such markets you can buy only one or several of the most common crypto-currencies. And in order to acquire a less popular crypto currency, you still need to use centralized exchanges. Transfers from one exchange to another force the user to pay commissions, spend unnecessary time on translations and much more.
The main problems are that it is sometimes very difficult to buy or exchange a low-prevalent crypto currency, or it takes a lot of time for bank transfers, or very complicated and lengthy processes for verifying an account.
The LocalCoinSwap project takes into account the shortcomings of both these systems and creates its own peer-to-peer system, which solves the above problems.
LocalCoinSwap will allow you to purchase any crypto currency using various payment methods from anywhere in the world.
In addition, LocalCoinSwap releases its own Cryptoshare token. Cryptoshare will allow each user of the platform to become its co-owner. LocalCoinSwap is the world's first exchange where all revenues will be distributed through smart contracts and all information about the company's finances is recorded in blockchain.
The Cryptoshare token is different from the standard tokens when conducting an ICO. Cryptoshare allows its holders to receive dividends in the crypto currency from the profits of LocalCoinSwap.
- During the ICO LocalCoinSwap, the investor purchases Cryptoshare tokens. Payment can be in Ethereum or in another crypto currency. If payment is to be made in another crypto currency, you will need to specify the purse address of the ERC20 standard. This is necessary to further obtain the Cryptoshare tokens;
- After payment, the Cryptoshare tokens are sent to the specified investor purse using smart contracts;
- After the end of the financial period, Cryptoshare token holders are sent token-dividends (these tokens can be traded like any other tokens of the ERC20 standard);
- The owner of the dividend tokens determines what crypto currency he wants to receive as dividends and indicates its purse.
Owners of Cryptoshare tokens choose in which crypto currency they can receive dividends.
Initially, it is planned to use the top 10 crypto currency. Gradually, new crypto-currencies will be added.
In addition, owners of Cryptoshare tokens have the right to vote and decide on the future work of the platform. This will facilitate the interaction of the LocalCoinSwap platform with its users. And it is users who decide what they go to add crypto currency to the platform.
LocalCoinSwap allows you to create a reliable and transparent exchange. Thanks to the technology of blocking all data on the income of the exchange and on dividend payments to users will be accessible to all and they can not be faked. Monthly token owners will receive information on the development of the platform and the most important issues that will be affected by the vote.
Hard cap is 20 million US dollars. It is important to note that the soft cap has long been assembled. At the moment, they collected more than 56% of the planned amount.
80% of all profits will be distributed among holders of Cryptoshare tokens. 9% will be allocated for salaries for platform employees. 6% for platform maintenance. 5% will be allocated to maintain the platform's security.
Conclusion: The LocalCoinSwap platform is really capable of solving actual problems in the field of crypto currency. Solving these problems can attract new capital inflows into the crypto currency market. The reason is that LocalCoinSwap will make the process of purchasing crypto currency for fiat money much easier, more transparent and safer.
Web site: https://www.localcoinswap.com
White paper: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf/