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Introduction

LocalCoinSwap is an Initial Coin Offering that is searching for a way to change the way that people conceives cryptocurrency exchanges. It wants to give users control over the platform. This is the vision of LocalCoinSwap and its team, that are working to create the world’s most inclusive marketplace.

Problems and Solutions

LocalCoinSwap addresses very important issues of cryptocurrency markets.

Nowadays, cryptocurrency exchanges are inefficient, have lengthy subscription processes and present security concerns. For several individuals that want to trade, opening an account in a cryptocurrency exchange require users to expose an important amount of information. That can lead to identity fraud and theft.

Besides that, P2P markets are highly fragmented and non-inclusive. That means that traders that want to sell outside the few top crypto exchanges need to access a P2P exchange and a centralized mainstream exchange.

An increased amount of fees that users need to pay is another problem. They need to pay all associated fees to complete their purchase and the fees involved with the withdrawal from one marketplace to another, making it highly inconvenient for users.

Furthermore and very important, nowadays, cryptocurrency exchanges are monopolized. Investors have no mechanism through which they can share in the profits.

LocalCoinSwap proposes a solution for these problems by being the world’s most inclusive exchange. The company does not discriminate users, no verification is required and there is an instant signup. LocalCoinSwap features a distributed peer to peer trading system with no centralized bank accounts, no verifications and no trading restrictions.

This cryptocurrency exchange puts the market into the hands of its users. LocalCoinSwap will tokenize ownership of the exchange itself into the hands of its users. This will be the first Cryptoshare system.

The LCS Cryptoshare system uses blockchain technology in order to distribute shares and profits through dividends.Holders of LCS will have a regular redeemable dividend. LCS Cryptoshares allow traders on the exchange to take ownership of the platform.

Roadmap

LocalCoinSwap has a clear roadmap that is explained until February 2019. That’s a good time for developing the whole product. One year is the time for this revolutionary cryptocurrency exchange to start giving dividends to the owners of LCS.

They have very well distributed the task during the year. There are no months with several unaccomplished tasks, but instead, the main activities and developments will be distributed during the rest of this year, until February 2019.

Token Distribution and Budget Allocation

There will be a total supply of 100 million LCS Cryptoshares. Usually, it is important to see if the Initial Coin Offering offers a good amount of tokens to the public. And LocalCoinSwap does. There will be 70 million LCS Cryptoshares available for the public.

The soft cap is 500,000 USD and the hard cap 20,000,000 USD. The unsold tokens will be burned and there will be 20,000,000 token freeze.

  • 70% will be allocated to investors through the entire crowdsale with burn of unsold tokens.
  • 10% will be allocated to a community venture fund, the use of which is voted on by investors.
  • 10% allocated to the development team (frozen by contract for 1 year).
  • 5% allocated to bounty program for community engagement.
  • 5% allocated to reward program for users who increase security of the platform.

It is important to mention that just 10% of the tokens will go to the development team, something that is less than the average ICOs, where developers receive between 15% and 20% of the tokens.

The funds will be used as follows:

  • 20% for platform development.
  • 30% Security
  • 15% Business Development and Marketing
  • 30% Coin Addition
  • 5% Administration

Should I invest in LocalCoinSwap?

We will have a look at different aspects of the ICO and decided whether or not it is a good investment to do.

  • Team

LocalCoinSwap has been started by qualified cryptocurrency experts that have been working in the industry for several years. The team has experience in different fields like Economics, Computer Science, Commerce, Marketing, Maths and Molecular Genetics.

Aapeli Vuorinen:

Aapeli Vuorinen is a Lead SecurityEngineer ha is Bachelor of Mathematics (Major in Pure Maths). He has over ten years of experience in software development and systems administration. He has experience with a variety of technologies that include Python, Java, C++, Javascript, pandas and many others.

Nathan Worsley:

Nathan Worsley is the Chief Technical Officer. He has a Bachelor in Economics (Major in Econometrics). He has been investing in Bitcoin and Ethereum and has developed successful trading algorithms based on Triangular Arbitrage between cryptocurrencies. He has also founded a cryptocurrency investment fund and has development experience with C/C++, Python, R, Matlab, PostgreSQL, and many others.

Thomas Underwood:

Thomas Underwood is the Chief Financial officer of LocalCoinSwap. He has a Bachelor in Commerce (Major in Accounting and Finance). He is a financial expert and managing director of a successful private equity company. He is Customer acquisitions regional manager at TradingView.com.

Valéri Natanelov:

Valéri Natanelov is the Chief Marketing Officer. He has a PhD in Commodity Futures markets. He is an entrepreneur and founder and CEO of growAbric (knowledge brokering and design thinking company). He has lived on every single continent and is fluent in four languages.

Taylor Scheel:

Taylor Scheel is a Blockchain Developer with a Bachelor in Science. He is a clinical molecular genetic scientist that has been working on a laboratory before entering the Blockchain. He has experience with Solidity, Javascript, Matlab and others.

Kevin Sparks:

Kevin Sparks is the Lead Developer and has a Developer Degree in Computer Science. He is an experienced full-stack Python and JavaScript engineer with over 13 years of experience in different web-development and software projects.

  • Whitepaper

The white paper is very well prepared, and it has all the necessary information that is required for investing in this ICO. Is not complicated to read neither too long or oversimplified. It has the technical information that some investors would require and it is very straightforward.

A good, clean and simple (but not oversimplified) white paper, allows investors to feel sure about the Initial Coin Offering and the team behind the project. If the white paper is too complicated to read, too long, or oversimplified, that would mean that the team lacks of communication tools and a lack of seriousness.

  • Business

This is a good point to evaluate in this Initial Coin Offering. That’s the true, the cryptocurrency exchange industry is very concentrated, there are just a few participants and the smaller crypto exchanges lack form several security measures or liquidity.

Furthermore, most of the established cryptocurrencies are asking for very sensitive information that can be later compromised.

LocalCoinSwap is trying to solve these problems and it seems that it has find a very interesting way to do so. A simplified exchange, where the users are the ones that control it, and a user friendly platform may be very promising for the future. Additionally, not only the most important coins will be offered, but also different alt-coins.

What is not clear is how the exchange is thinking to comply with regulatory frameworks around the world. How will it deal with increased KYC and AML policies?

  • Website

The website is clear and easy to understand as most of the ICO webpages. Indeed, this is one of the strongest points of the Initial Coin Offerings. In general, they design very good webpages.

This one in particular has everything what it is needed for investors. The white paper can be easily found, there is a section with problems and solutions, and two separated sections for the roadmap and the team.

  • Token Evaluation

LCS Cryptoshares entitle holders to guaranteed rights to 100% of the total profits from the LocalCoinSwap exchange through cryptocurrency dividends. LCS Cryptoshares entitle holders to voting rights in the platform decision making process.

What it calls my attention is that each LCS costs 0.0004 ETH meaning that the total initial market capitalization of LCS shares is 32.000.000 an important amount compared with other ICOs. If the price wold be less, the token may have bigger possibilities to grow even more in the future.

  • Conclusion

LocalCoinSwap is a cryptocurrency exchange that wants to support the community. The main intention is to give the power to the cryptocurrency traders that will participate in the exchange. The main intention is to create a different crypto exchange that will put the interest of the users first rather than the interest of just some few participants.

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