LocalCoinSwap

The world's most inclusive cryptocurrency marketplace.

Time to presale

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How LocalCoinSwap works

LocalCoinSwap Exchange

Community focused

“Dedicated support team, integrated social media features”

Community owned

“100% of profits distributed to users through the blockchain”

Democratically operated

“Operated through voting in a proof-of-stake system”

World's most inclusive exchange

“Instant signup, no verification, and no restrictions”

Complete transparency

“Public financial announcements, open-source contract code”

Extensive coin coverage

“More cryptocurrencies than any other peer-to-peer exchange”

Cutting-edge security

“Multi-signature transactions. 95% of funds in cold-storage”

Intrinsic token utility

“Dividend profits in multiple currencies. Airdrops of new ICO tokens”

LocalCoinSwap Cryptoshares

Dividend income stream

“LocalCoinSwap decentralises the most crucial part of the exchange: the profits. Cryptoshare holders receive guaranteed rights to 100% of the profits from trades on the LocalCoinSwap exchange.”

Access to an entire portfolio from holding a single asset

“Cryptoshare holders receive profits in all of the cryptocurrencies traded on the exchange, an income stream denominated across an entire portfolio of digital assets.”

Cryptoshare holders run the exchange democratically in a proof-of-stake voting system

“An open source democracy contract hosted on the blockchain publically tallies votes on user-submitted issues to decide the operation of the exchange.”

Cryptoshare holders receive airdrops of new ICO tokens listed on the LocalCoinSwap platform

“LocalCoinSwap provides a listing service for new ICO tokens to allow them to launch on the LocalCoinSwap platform or raise pre-ICO and presale funding. When new tokens are listed Cryptoshare holders receive an advance airdrop, as well as access to special offers on new listings.”

ICO Details

General overview

Token codeLCS
Price per LCS0.0004 ETH (1 ETH = 2500 LCS)
LCS maximum total supply100,000,000
Available through Pre-ICO/Presale/ICO70,000,000
Token freeze20,000,000
Token burnAll unsold
Payment currenciesETH, BTC, USDT, BCH, XRP, USD, EUR, GBP, AUD, NZD, CAD & more
Soft cap500,000 USD
Absolute hard cap20,000,000 USD (remaining tokens destroyed)
Bonus structureCommunity based
TransparencyOpen source (public GitHub)

Allocation of tokens

Whitepaper

Read the whitepaper for a comprehensive overview of the LocalCoinSwap project

Read the whitepaper

Core Development Team

Aapeli Vuorinen

Lead Security Engineer

Data analyst, white-hat hacker and full-stack developer. Over 10 years of experience in software development and systems administration. Exceptionally talented at understanding and utilizing network and software protocols.

Nathan Worsley

Chief Technical Officer

Early investor in Bitcoin and Ethereum. Developer of a series of successful trading algorithms based on Triangular Arbitrage between cryptocurrencies. Technological experience includes C/C++, Python, R, Matlab, SQL, Git, Bash and Linux.

Thomas Underwood

Chief Financial Officer

Experienced business development manager and financial expert. Managing director of a successful private equity company with a diverse portfolio across several asset classes. Customer acquisitions regional manager at TradingView.com.

Valéri Natanelov

Chief Marketing Officer

Entrepreneur, the founder and CEO of growAbric (knowledge brokering and design thinking company). Lifelong blockchain enthusiast. Extensive international business experience with a strong passion for design thinking and analytical problem-solving. Has lived on every (habitable) continent. Fluent in four languages.

Daniel Worsley

Chief Operating Officer

Experienced in business strategy, operations and quantitative analysis. Successful stock and commodities trader in several financial markets over the last 8 years. Advisor to a Hong Kong based investment firm. Passionate about decentralization and blockchain technologies.

Kevin Sparks

Lead Developer

Experienced full-stack Python and JavaScript engineer with a bias for action and proven experience in delivering reliable software. Over 13 years of experience across a wide variety of web-development and software projects. Passionate about learning and is particularly fascinated with collecting and analyzing data. Values people, relationships, communication, and Vim.

Taylor Scheel

Blockchain Developer

Originally a clinical molecular genetic scientist working in a laboratory before a passion for the Blockchain and disruptive technologies led to him becoming a digital nomad and full-time solidity developer. Experienced in Solidity, Javascript, Matlab, Git and Linux.

The Advisors

David S. Lee

Legal Advisor

“David worked in investment management in Hong Kong and London before joining the University of Hong Kong. He started his career at Goldman Sachs and also has experience in law and in management consulting. David remains engaged in professional practice by working with companies and entrepreneurs, particularly in finance and technology. David is a lawyer and a CAIA (Chartered Alternative Investment Analyst) charterholder.”

Dr. Artem Sergeev

Legal Advisor

“Artem is a Senior Research Fellow at the University of Hong Kong. In addition to his legal work as an academic, Artem contributed to the United Nation’s mission in Cambodia, Oxford University Press, theDesk and a number of other enterprises. He has published a range of articles on various aspects of international law, received several notable academic awards, and actively contributed to the legal community around the world.”

Frank Zhu

Legal Advisor

“Frank has extensive technology innovation experience in the finance industry. He is currently a technology analyst in a major investment bank based in HK. Frank also has two years of experience in front and backend development.”

FAQs

General Overview

+ What is a cryptocurrency?
A cryptocurrency is a type of non-physical currency which uses cryptography to regulate its creation and distribution.
+ What is a crypto-asset or digital asset?
A crypto or digital asset is a non-physical commodity which may or may not be a currency. Often digital assets are also crypto assets, but the term may be non-specific. These assets can often be traded on a Blockchain in the same manner as cryptocurrencies.
+ What is a token?
A token is a type of digital asset which is issued on the Blockchain, and generally used as a unit-of-value. Tokens are often used to raise funds by companies to launch services or as a means to deliver a service to customers. The LocalCoinSwap token is used as a means to distribute profits and airdrops from the platform to its user base.
+ What is a smart contract?
A smart contract is a protocol, function or algorithm which is automatically executed by a computer system in a trackable and irreversible manner, often on a Blockchain. A smart contract is intended to digitally facilitate, verify, or enforce the negotiation or performance of a contract.
+ What are ICO, presale and pre-ICO?

ICO stands for Initial Coin Offering and is a mechanism for a company to issue a token in order to fund new ventures and services. ICO in many ways is a digital version of an IPO in the traditional stock market, but more accessible to everyday investors.

Presale refers to an initial period before the main fundraising period where a smaller amount of funds are raised at a discount. The LocalCoinSwap presale period is being utilized to develop a smaller initial following to use as a feedback and testing ground for community development and marketing during the ICO period.

Pre-ICO refers to a private sale of token units to investors in advance of the presale. This is usually used to raise early-stage funding for a venture, and generally involves a minimum investment level.

LocalCoinSwap will undergo a small round of pre-ICO funding with private participants prior to the presale. However, as stated in the whitepaper the maximum amount of units available for sale before the ICO is 10,000,000. Any units sold during pre-ICO will be subtracted from units available during presale, in order to ensure that the equity and profits of investors is not reduced. If you would like to participate in the LocalCoinSwap pre-ICO and become a early-stage community member, email us at: community@localcoinswap.com

Early-stage investors are added to a private mailing list and contacted directly (if they wish) for feedback on LocalCoinSwap platform development prior to the main ICO.

+ What is a crowdfunding campaign?
A crowdfunding campaign is a community-based funding method, often used to support the development of a company, or organization of an event.

About LocalCoinSwap

+ Why are you having a crowdfunding campaign?
LocalCoinSwap is using a crowdfunding campaign to drive community development around the trading platform and expand the development of the platform with additional cryptocurrencies and features.
+ Why is LocalCoinSwap different from other exchanges?

While there are existing peer-to-peer markets the fundamental flaw in all of them is that they aim to become giant monopolies and make their creators wealthy. At LocalCoinSwap we do not believe that monopolies have any place in a fair and just digital economy. The LocalCoinSwap platform is designed to enrich the entire community rather than a small number of individuals.

LocalCoinSwap is the only marketplace which distributes 100% of its profits back to its community, and allows the community to vote democratically in its operation. It is a community-focused, and community-owned marketplace.

LocalCoinSwap is also the most financially transparent exchange on the market, with regular public announcements detailing exact revenue and expenses, all wages, and all forms of income. All contract code used by LocalCoinSwap is open source and publically viewable on our Github.

+ What will make LocalCoinSwap a better platform than existing peer-to-peer platforms?

LocalCoinSwap supports the most diverse range of cryptocurrencies and payment methods out of any peer-to-peer exchange in existence. It is typical for other exchanges to only support a single currency or a small basket of the most popular currencies. LocalCoinSwap will cover the most extensive offering of cryptocurrencies and payment methods possible, with a development team after launch whose sole purpose is the implementation of new currencies.

LocalCoinSwap offers special support for ICO and new token projects, allowing them to launch on the platform or offer the user base special pre-ICO and presale deals to raise additional funding.

For a more detailed explanation of the benefits of the LocalCoinSwap platform please refer to the LocalCoinSwap whitepaper.

+ Why will LocalCoinSwap be of benefit to me?

If you wish to buy or sell digital currency directly, LocalCoinSwap will cut out the frustrating process of buying an intermediary currency and paying associated fees.

If you are an investor, LocalCoinSwap will allow you to hold a single asset while receiving an entire portfolio of different forms of digital currency as regular dividend income. Additionally, you will receive airdrops of new tokens listed on the LocalCoinSwap exchange.

If you are a company or business venture, LocalCoinSwap will provide a platform on which you can raise funds by issuing a token or ICO.

If you are a member of the cryptocurrency community but don’t directly participate in the exchange, LocalCoinSwap will serve as a model for the fair and just operation of a Blockchain based company and inspire other companies to provide a similar level of community ownership.

+ How can I participate in LocalCoinSwap?
The LocalCoinSwap platform incorporates a streamlined signup process with no verification required. Our objective is to have our users trading as quickly and easily as possible. The only thing required to sign up to the platform is an email address.

About Cryptoshares

+ What benefits will I get from Cryptoshares?

Cryptoshare investors receive 5 key benefits:

  1. 1. Dividend income stream
  2. 2. Access to an entire portfolio through a single asset
  3. 3. Voting rights in the operation of the LocalCoinSwap exchange
  4. 4. Airdrops of new ICO tokens listed on the platform
  5. 5. Community support from the staff of LocalCoinSwap

Please refer to the whitepaper for further information on the benefits of Cryptoshares.

+ What will the funds raised from Cryptoshares be used for?
The funding raised from LocalCoinSwap will primarily be used to support additional coins on launch of the platform and implement additional server security measures.
+ What is the minimum and maximum amount of Cryptoshares I can buy?
The minimum investment level is 0.1 ETH worth of Cryptoshares, and the maximum is limited by the remaining amount until hard cap is reached, which is stated on the website during the sale period.
+ What bonuses are available for purchases of Cryptoshares during the crowdsale?

LocalCoinSwap is a community-focused exchange, and in keeping with this philosophy the Cryptoshare issuance incorporates a community-based bonus structure.

Bonuses are awarded to all existing investors as new investors arrive, so that everyone can share in the benefits of the growing community. At the same time additional bonuses are given to earlier stage investors. This provides benefits both to earlier investors but also to members who don’t manage to invest at the earliest stages.

+ How many Cryptoshares are issued in total?
The maximum total ever supply of Cryptoshares is 100,000,000. No more can ever be created and all unsold Cryptoshares are burnt after the ICO period ends.
+ What happens if not all the Cryptoshares are sold?
All unsold Cryptoshares are destroyed after the ICO to increase the value of the remaining Cryptoshares.
+ Will Cryptoshares be available on exchanges after the ICO?
As stated in our roadmap LocalCoinSwap will also ensure that our tokens are available for purchase on other exchanges, with submissions being made in May.
+ Who is not able to purchase Cryptoshares?
You can not purchase Cryptoshares if it is outlawed for you to do so where you are located. This may include citizens of the US who are not accredited investors.
+ How can I purchase Cryptoshares?
Cryptoshares can be purchased through our public payment portal on the front page of this website during presale and ICO. For inquiries about private purchases or purchases using different currencies or payment methods reach out to: team[ignore me]@[ignore me]localcoinswap[ignore me].[ignore me]com
+ What currencies can I use to purchase Cryptoshares?

Cryptoshares can be purchased for a variety of digital payment methods including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Bitcoin Cash (BCH), Dash (DASH), Ripple (XRP)

Additionally, fiat payment options using SWIFT bank transfer are available in a variety of currencies.

Just like the marketplace, the LocalCoinSwap crowdsale supports a diverse variety of payment methods.

Currencies & cryptocurrencies on the LocalCoinSwap platform

+ What cryptocurrencies will be supported by LocalCoinSwap?
LocalCoinSwap will open with a minimum of the 10 most popular Cryptocurrencies and add additional cryptocurrencies at a continuous rate as fast as development time allows. Funds raised in the Cryptoshare issuance are being used to accelerate the speed at which new currencies can be implemented.
+ What currencies will be supported by LocalCoinSwap?
LocalCoinSwap will support every form of fiat currency.
+ What payment methods will be supported by LocalCoinSwap?
LocalCoinSwap will support all payment methods which can be safely supervised using our escrow process. This includes bank transfer, cash exchange, cash deposit, international wire, paypal, cash in the mail, and even asset exchanges such as gold. New payment methods are added to LocalCoinSwap on request from our community.
+ What will not be supported by LocalCoinSwap?
We will not support any Cryptocurrencies or ICOs which our community believes are scams. We take steps to stay up to date with news and developments in the cryptocurrency sphere to quickly identify projects which may be predatory to our user base.

ICO projects on LocalCoinSwap

+ How can I get my project listed on LocalCoinSwap?
Send us an email at: team[ignore me]@[ignore me]localcoinswap[ignore me].[ignore me]com with the details of your project and we will be in touch.
+ What advantages does LocalCoinSwap offer to ICO projects listing on the platform?
ICO projects listing on the LocalCoinSwap platform will gain access to additional funding sources and community feedback from a diverse variety of market participants. ICO projects will also gain additional marketing traction and brand visibility.
+ What are the costs of listing an ICO project on the LocalCoinSwap platform?

After platform launch in August 2018 the LocalCoinSwap community will decide on the cost of listing new ICO’s. The fees will be paid as a distribution of tokens to Cryptoshare holders. For certain popular projects Cryptoshare holders may decide to list without a required fee.

For pre-ICO projects listing on the platform there are no fees, but it is required that a special bonus offer be available to Cryptoshare holders.

+ What ICO projects are not eligible for listing on the LocalCoinSwap platform?
Illegal or scam ICO projects are not allowed to be listed on the LocalCoinSwap platform. The safety of our community is our priority.

Safety

+ What safety measures does LocalCoinSwap take to protect my funds?

On a customer level LocalCoinSwap implements several forms of two-factor authentication (2FA) to protect customer accounts from being stolen by third parties. Customers may choose to activate more than one form of 2FA simultaneously. Types of 2FA offered by LocalCoinSwap include email, mobile phone, Google authenticator & PGP.

On a site-wide level LocalCoinSwap keeps 95% of funds in offline cold-wallet storage. All outgoing transactions from cold-wallets are manually authorised by our 24/7 support staff after verifying the integrity of the transaction. Additionally, the cold-wallet storage protocol in place utilizes a smart contract to place limits on the size of transactions support staff may engage in without additional verification from the company directors of LocalCoinSwap.

+ Who will have access to my personal data on LocalCoinSwap?

Only employees tasked with regulating the actual trade will have access to any trader data and only during the time period during which the trade is being carried out.

LocalCoinSwap takes the privacy of its customers seriously and employees dealing with the escrow process undertake a legally binding confidentiality agreement as part of their employment contract.

+ Will LocalCoinSwap provide my personal data to third parties?

No. LocalCoinSwap will not willingly provide customer data to third parties under any circumstances.

Additionally, the internal systems of LocalCoinSwap utilize encryption to ensure that we only have access to banking and messaging information of our customers during the escrow process. After a transaction between traders is completed LocalCoinSwap no longer has the ability to access any communications between traders.

+ Will LocalCoinSwap send me emails?
LocalCoinSwap will not send emails without advance consent, and allows you to opt out of receiving future emails at any stage.
+ Is LocalCoinSwap compliant with laws and regulations?
LocalCoinSwap does not accept fiat currency transfers directly or take possession of the fiat currency portion of any transactions, and thus is not a financial intermediary. The LocalCoinSwap team includes 3 legal advisors in the company of its incorporation to ensure it stays compliant with all relevant laws and regulations.
+ How can I report an issue with the LocalCoinSwap platform?
Please reach out directly with any issues to community@localcoinswap.com. We take the feedback of the community seriously and will act swiftly to any issues found. For any issues which are security critical a special bonus is available to reward community members who identify ways in which we can provide a safer marketplace.

Other

+ I really like the LocalCoinSwap idea, can I work for the company?

We are open to employing intelligent and motivated candidates who are passionate about the LocalCoinSwap platform. We do not discriminate on the basis of age, race, gender, sexual orientation or religion.

To apply please send an email to hiring@localcoinswap.com with your resume attached.