LocalCoinSwap: The First Community Owned Decentralized Exchange

Crypto Mentor By Crypto Mentor April 20, 2019 Off
localcoin swap

There is a lot of discussion these days about cryptocurrency exchanges being susceptible and vulnerable to being hacked. Scammers and hackers have exploited and taken advantage of certain Crypto Exchanges and stolen their tokens. This has created a fair amount of fear to new cryptocurrency investors. Another problem with some crypto exchanges is the fake trading volume. The Blockchain Transparency Institute reports that among the top 25 exchanges listed on CoinMarketCap, 23 are wash-trading over 70% of their “trading volume.” In addition, 12 of the top 25 exchanges are estimated to be wash-trading 99% of their trading volume.

Before we dive into how LocalCoinSwap is a safe and secure cryptocurrency platform and does not fake their trading volume, let me briefly tell you about them. 

LocalCoinSwap is a decentralized marketplace, which allows buyers and sellers to trade directly with each other. LocalCoinSwap provides a safe, uncomplicated and fast peer-to-peer (P2P) trading platform. The platform utilizes a secure escrow system that solves the inherent trust issues of online P2P trading.

Centralized cryptocurrency exchanges are full of inefficiencies, security risks, long wait times and unreasonable verification requirements. These types of crypto exchanges are susceptible to unethical business practices including, insider trading, front running and deceptive pricing. The solution to these problems is the demand of P2P trading platforms like LocalCoinSwap. P2P trading platforms provide direct access between buyers and sellers, which represent free market trading. 

Another important benefit of being part of LocalCoinSwap is the decentralization of ownership. What does this mean? The tokens holders have voting rights and receive a portion of all the revenue. Sound too good to be true? It’s not! Token holders are guaranteed rights to 100% of the total profits from the LocalCoinSwap Platform through cryptocurrency dividends. All this information and more is fully explained in their whitepaper.

Earlier, I discussed crypto exchanges being susceptible to being hacked. LocalCoinSwap takes this issue seriously. They have a dedicated security team whose job is to safeguard all information on the exchange. My next point is very important. 95% of cryptocurrency deposits will be stored in offline wallets (cold storage) to minimize potential loss due to hacking. What this means is that LocalCoinSwap takes extra security measures to safeguard your deposits. In addition, regular security audits have been scheduled to ensure the security system is up to date. As you can see, LocalCoinSwap takes security very seriously. It’s a top priority for them.

I would encourage you to visit their website and see for yourself. LocalCoinSwap might be a trading platform tailor made for your investing needs. For more information on LocalCoinSwap, please visit their website: https://localcoinswap.com.

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