BBB LocalCoinSwap Review

LocalCoinSwap – Is It Good?

LocalCoinSwap is a young decentralized P2P cryptocurrency exchange platform. Like other anonymous exchanges, it tries to capture what bitcoin should be about: a limitless, private and decentralized currency and apply it to a service that anyone can use. LocalBitcoinSwap doesn’t ask for verification requirements or centralized bank accounts and it puts no restrictions on trade. Not only that, but LCS is fully invested on helping the crypto community grow.

What Does LocalCoinSwap give you?

As we just mentioned, LocalCoinSwap gives you the privacy of anonymity, like many others. However, it is the only decentralized exchange that allows buyers and sellers to trade cryptocurrency directly using any method of payment. It doesn’t use useless verification processes or waiting times. LCS has 23 altcoins to choose from besides bitcoin and LCS tokens.

LocalCoinSwap is also very safe, keeping 95% of site funds in offline cold-storage wallets, making it incredibly secure, even for those who already have their own bitcoin wallets. It also has a secure escrow protection and it has never been hacked. It has 2FA available for traders and its use is actively encouraged for further protection.

The most unique aspect of LocalCoinSwap is that it distributes 100% of profits back to token holders. These tokens can be purchased as you’d purchase a share of a company. These shares are known as LCS Cryptoshares. Token holders are not only given a share of LCS but they’re also given voting rights within the platform, embracing a peer-owned decentralization. Investing on those tokens seem to be a very exciting opportunity, with some projections foretelling an exponential growth. LCS is the only exchange created by the community and owned by the community, and it shows.

Supported Countries

Although fairly young, LocalCoinSwap has a very large reach and supports most parts of the world.

Countries not supported:

Bangladesh, Bolivia, Ecuador, Kyrgyzstan.

Countries with limited support:

China, Russia.

LocalCoinSwap Rates and Buying Limits

Registration is free in LocalCoinSwap and it has over 250 payment methods to buy and sell currency. Some of the methods include cash in person and in deposit, debit and credit card, PayPal, Amazon and iTunes Gift Cards, National Bank Transfer, Wechat and Uphold. There are plenty of ways to purchase anonymously. Since it doesn’t have unnecessary waiting times, the buying experience is both easier and faster than in most exchanges.

LocalCoinSwap rate: 1% fee when advertisement is sold or bought.

LocalCoinSwap has no withdrawal or deposit limits.

LocalCoinSwap Pros

  • Anonymity: There are multiple ways to purchase and sell crypto in LCS completely anonymously.
  • No waiting periods: LocalCoinSwap is one of the very few to offer no waiting periods in-between transactions.
  • Fully decentralized: LCS is completely decentralized and hence cannot be affected by outside interferences. It goes a step further by being owned by decentralized shareholders.
  • Safe: 95% of funds are kept in cold storage. It has never been hacked. Its code is transparent and open source.
  • Committed with the community: As we’ve seen, LCS is clearly made to own by the community, giving back its profit to it and making it a great investment on itself.
  • Good customer support: LocalCoinSwap offers a 24 hour customer service team.
  • Attractive referral program: Its referral program offers traders a chance to earn back up to 30% on their trading fees.

LocalCoinSwap Cons

  • Heavy competition: LocalCoinSwap comes in fairly late to the game and is currently competing with much larger and better established exchanges.
  • Lack of community awareness: A P2P exchange is only as useful as the amount of people buying and selling. Since LCS is young, more community penetration is needed.

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Is LocalCoinSwap Good For Bitcoin?

As we’ve seen, LocalCoinSwap is an innovative platform that aims to solve all the problems that come with decentralized and semi-decentralized exchanges. It’s the only platform that gives back to the community and a real problem-solver, paving the way for better services and better connections between exchanges and users. Their shares’ price projection shows that they’ll continue growing on value at a steadier rate than bitcoin. Investing on it now seems to be a safe and exciting option.

LocalCoinSwap isn’t just anonymous and transparent, it’s a big step towards a truly decentralized exchange, owned and directed by the community. It’s a new, visionary and exciting project. If you’re interested on investing early and know the risks or even if you’re just looking for a reliable, fast and easy exchange, LocalCoinSwap is definitely for you.