Since the interest in cryptocurrency trading continues to grow, many exchanges find themselves unable to cover the huge influx of new users. Furthermore, recent frauds and hacks mean that many traders are wary of using the centralized exchanges available. LocalCoinSwap offers traders a safe and decentralized alternative.
In the last two months, interest and demand for cryptocurrencies and digital resources have exploded. Due to the enormous interest of new investors and traders, many cryptocurrency exchanges – including Bittrex and Binance – have been forced to temporarily disable new account registrations, leaving traders to find alternative trading methods.
Many traders simply switched to any number of centralized exchanges in the cryptographic space, but some chose to use decentralized exchanges such as EtherDelta and Idex.
THE GROWTH OF DECENTRALIZED EXCHANGES
According to some experts, decentralized exchanges will slowly begin to take more and more market shares from centralized exchanges. The reasons why traders and investors are starting to use decentralized exchanges vary.
Lower fees, transparent trading and a better user experience are some of the most common reasons traders are making the change.
AN EXCHANGE OF TRANSPARENCE AND INCENTRATED ON THE COMMUNITY
Although many traders agree that decentralized trade is the future of cryptocurrency and digital asset trading, there are still some areas where improvement is needed. Although more transparent than their centralized counterparts, the current decentralized trade culture still lacks a truly transparent view of the flow of money and account balances.
LocalCoinSwap aims to change it by making transparency one of their main objectives. The decentralized peer-to-peer exchange plans to offer complete transparency through public disclosure of revenue streams, wages, revenue and other financial information related to the project.
The team behind LocalCoinSwap is creating a real record: a decentralized exchange that works for the benefit of its users. 100% of the profits of the exchange will be distributed to the owners of the platform’s native CryptoShares tokens. CryptoShares holders will also have access to the ICO launches conducted on the LocalCoinSwap trading platform.
ID verification is another headache that afflicts many cryptocurrency investors and investors. According to the LocalCoinSwap website, users will be able to easily exchange on the exchange without having to go through a long and difficult ID verification.
Users only need to register with their personal email addresses to immediately start trading on the platform. No ID scan, no bank account information, no KYC.
LocalCoinSwap does not aim to profit directly from decentralized exchange. Instead, users will be able to receive the profits of the exchange if they participate in the initial money supply.
Tokens that will be distributed through upcoming token sales will allow users to automatically receive 100% of the profits from the exchange through a structure that pays dividends.
The sale of tokens is scheduled for March 15 and aims to raise up to $ 20 million. It will certainly be interesting to see how LocalCoinSwap will be able to compete with decentralized exchange giants such as EtherDelta and Idex.