Localcoinswap-P2P exchange

[Valerizza]

Localcoinswap- an international decentralised crypto exchange that:

-doesn’t require KYC,
- has over 180 fiat options and every payment method available,
-currently presents 15 major crypto currency’s (btc,Eth,Bch,Etc,Hav,Nusd,Hst,Skm,Bnb,Powr,Lcs,Gnt ,Ltc,Wtc,Dash) with more being added regularly every few weeks.
-has dividend system; 100% of profits are distributed to LCS token holders in dividends quarterly
-has cold storage wallets for every coin
- has No withdrawal limits
- has Margin tracking

Website: https://localcoinswap.com
Facebook: m.facebook.com/localcoinswap
Twitter: twitter.com/Localcoinswap_
Telegram: t.me/localcoinswap
t.me/localcoinswap_ru
Medium blog: medium.com/localcoinswap
Linkedin: www.linkedin.com/company/localcoinswap/
Reddit : www.reddit.com/r/Localcoinswap/
www.reddit.com/r/localcoinswapRU/
Discord: https://discord.gg/uan3vMS

[Valerizza]

LocalCoinSwap Release Notes: Version 0.2.8 (November 5, 2018)

We have released the 8th version of the LocalCoinSwap platform, and we've got a number of exciting developments to reveal.

A massive number of new pages have been added to the frontend to showcase each cryptocurrency. Each cryptocurrency now has its own page with statistics, token information, and all advertisements for that cryptocurrency on a unique page. There are links to each cryptocurrency page on the updated homepage.

Currently a huge majority of the trading action on LocalCoinSwap occurs in Bitcoin and Ethereum. We hope these improvements will encourage users to experiment with some of the other cryptocurrencies and tokens on offer.

We've also made some major updates to the withdrawal process which we hope will eliminate recent issues with delayed withdrawals. Previously, if a user tried to withdrawal with an incorrect address, it would freeze the withdrawal process as a security measure, and admin intervention would then be required to restart it. This led to some frustrating delays for users who initiated withdrawals during these periods, especially over weekends. We hope these new changes will reduce user frustration in this regard.

On the cryptocurrency side, Monero implementation is currently being rolled out. If it is not already available at the time of publication of this post then it will be available within 24-48 hours. We have decided to use Monero's integrated address feature instead of seperate payment ID's, in line with current best practices published by the Monero team.

On the frontend side, we've also fixed a bug which was leading to the display of advertisements with a '-1' upper limit when a users wallet balance declined past the minimum value of the advertisement. These advertisements are now automatically paused, and become unpaused once the user tops up their wallet.

Some improvements have also been made to the notification box on the navigation bar. Users no longer have to select "more messages" to view multiple pages of notifications and can instead simply scroll down.

There have also been some improvements made to the pop up windows when making a withdrawal. The annoyance of having to type in your 2FA code before confirming in the popup box is gone, and you can now enter the code directly into the popup box - preventing the timeout issue.

We have also added a confirmation window which is displayed before entering into a trade, which we hope will address the large number of disputes we have dealt with recently after users unintentionally entered into trades.

Thank you for your support this week and we look forward to bringing you next weeks updates. Stay tuned for more information regarding the voting choices for the referral program!

[Valerizza]

LocalCoinSwap Release Notes: Version 0.2.9 (November 12, 2018)

Today marks the 9th release of the LocalCoinSwap platform, and we've made a number of important new updates.

Our Monero implementation has been upgraded to properly support integrated addresses in deposits and withdrawals, bringing the platform in line with the latest best practices from the Monero team. After a small amount of unexpected downtime, withdrawals and deposits for this currency are now fully functional. We apologise for inconvenience suffered this week as we brought the systems online. Due to the private nature of the Monero Blockchain it's more time-consuming than normal to diagnose issues. However, we have implemented some administration practices to speed up the support process for any future issues.

We have now begun work on the process of implementing Ripple, the 3rd largest cryptocurrency by market capitalisation, and one that is not currently supported by any other peer to peer exchange.

We've also implemented some safeguards for the upcoming Bitcoin Cash hard fork, to prevent any possibility of the loss of user funds. As previously announced, withdrawals will be disabled on Wednesday, in advance of the beginning of the Thursday fork. We will continue to monitor the Bitcoin Cash ABC and Bitcoin Cash SV Blockchains as the fork progresses, with the aim of supporting both chains. However, as the fork is likely to be highly contentious, Bitcoin Cash withdrawals will not be re-enabled until there is a clear distinction between both chains, and the risk of a replay attack is eliminated.

As far as possible, LocalCoinSwap endeavours to take a neutral stance on which cryptocurrencies to support. The arguments between Bitcoin Cash ABC and Bitcoin Cash SV regarding the upcoming fork have been extremely vicious, and pitted many community members against each other. However, LocalCoinSwap will support both chains if possible, and allow the community members to decide individually which cryptocurrencies to trade.

On the frontend side of the site, we now have custom notifications which can be selected by users in the options menu. Users can select under which circumstances they will receive notifications, or opt out of notifications altogether. We've also added a consent box on user registration, to bring the platform in line with European email regulations.

We've also fixed a number of bugs related to the frontend of the trading process, which were causing some issues replying to contracts.

Lastly, we completed a comprehensive backend audit of user wallet systems, to ensure the integrity of user transaction history. We are please to announce that no issues were found, and all users wallet balances and funds are correctly accounted for. In the future we will conduct automated audits on a regular basis.

Over the next week we will continue working on our major upgrades to the homepage, and the process of posting a trade. Once these updates are completed, we will be able to give a firm date for hard launch, which at this point looks likely to be in January. Although the journey to hard launch certainly feels like a long time, please keep in mind that the date will be less than 6 months after soft launch - a rare achievement in any major software project.

After only 9 weeks of operation, the site is already vastly improved compared to when we first launched. We will continue to work at a fast pace, and are confident that in 9 weeks time even our current platform will appear obsolete in comparison!

Thanks for the support everyone.

[Valerizza]

LocalCoinSwap Release Notes: Version 0.3.0 (November 19, 2018)

Today marks a turbulent and wild week across all markets, with deep collapses in virtually every price. The ability of centralised participants to dominate the hashing power in the 4th largest cryptocurrency BCH, has shaken confidence in the decentralisation of all cryptocurrencies. As inflated egos battle, to reign supreme in the hash war, the entire industry suffers on the sidelines. Community members who wish to follow the state of both chains are advised to visit https://cash.coin.dance/, where you can see the latest statistics.

This said, I firmly believe that recent events are good for the long-term outlook of cryptocurrency. The first major contentious fork has educated us about the safety of proof-of-work, the dangers of mining centralisation, and the importance of developing better role models to shepard adoption into the mainstream.

In light of recent events, we have decided not to reactivate BCH yet. However, when we do reactivate BCH, it will likely be on the Bitcoin Cash ABC protocol implementation. It appears from the current state of the chains that this protocol will win out as the mainstream choice. Of course, anything can happen in cryptocurrency.

Anyway, on to more relevant news, the weekly site updates!

Today we proud to launch a complete revamp of the entire process of posting a trade, based on careful market research and community feedback.

Some of the changes include in this revamp include:

Animated progress bar to inform users how far along the process they are
Ability to edit previous steps using the pencil
Animations to illustrate individual steps
Reordering of options in a logically consistent manner
Better input boxes to make selections from, allowing users to search by acronyms or full names of fiat and crypto currencies
Mobile optimisation for this process
Better error handling for user input mistakes
The overhaul is not 100% complete yet though, and in the coming weeks we will be adding some final improvements to the 'post a trade' process including:

Better dynamic pricing formulas
Suggestions based off user location and popular choices
Edit already posted advertisements
We are also in the final preparation stages for the community vote.

At the moment, the most popular options are:

No referral system
Referral system based on a percentage (like Binance, etc)
Referral system based on the amount of LCS holdings a person has. This puts upwards pressure on the price of LCS by providing additional token utility
If you have other viable alternatives, please present them so they can be considered for the vote.

Lastly, we've continued work on the next cryptocurrency we will be implementing: Ripple. LocalCoinSwap is committed to becoming the first marketplace where XRP can be traded P2P!

Thanks again for the continued support, as we look forward to future updates. The next couple of weeks will involve finishing off the post a trade features, and a complete revamp of the homepages. After these are completed, we will be significantly closer to hard launch.

[Valerizza]

How to start peer to peer Bitcoin exchange business? A great article by V.Natanelov

https://www.quora.com/How-do-I-start-a-peer-to-peer-Bitcoin-exchange-business/answer/Valéri-Natanelov

[Valerizza]

LocalCoinSwap Release Notes: Version 0.3.1 (November 26, 2018)

oday is the 11th week since the launch of LocalCoinSwap, and in typical fashion we have some exciting updates!

As many of you might have guessed, today we are pleased to launch Ripple (XRP) as an official trading pair on the LocalCoinSwap platform. This makes LocalCoinSwap the only platform online where Ripple can be exchanged Peer-to-peer.

Ripple is already available for trading, with all wallet systems functional!

The Bitcoin Cash hash war appears to be over with the ABC implementation a clear winner, and SV conceding defeat by agreeing to add replay protection. After a strong early lead, the ABC chain has consistently maintained the same level of hash above the SV chain throughout the entire war.

Please note that the "% ahead" statistic on cash.coin.dance is deceptive in tracking progress, as this figure naturally declines as the hash on both chains increases. It's the distance between the proof of work on both chains which shows the clear winner. After 11 days it seems increasingly clear that SV chain will be unable to close this gap:


Additionally, the company which controls 85% of the mining power on the SV chain (nChain - which controls SVPool, Coingeek, and Mempool) has officially announced that they will add replay protection to the SV chain.

This will leave the ABC chain as the longest proof of work and therefore the most valid chain. To quote Satoshi Nakamoto himself:

"It is strictly necessary that the longest chain is always considered the valid one. Nodes that were present may remember that one branch was there first and got replaced by another, but there would be no way for them to convince those who were not present of this. We can't have subfactions of nodes that cling to one branch that they think was first, others that saw another branch first, and others that joined later and never saw what happened. The CPU power proof-of-work vote must have the final say. The only way for everyone to stay on the same page is to believe that the longest chain is always the valid one, no matter what."
Source: https://satoshi.nakamotoinstitute.org/emails/cryptography/6/

Given current events, we will be reactivating Bitcoin Cash trading this week with the ABC implementation on the BCH ticker. In the future if SV trading becomes sufficiently popular we will also implement it under the BSV ticker.

The next currency on the implementation list is the Omni-token Tether, which the devs will be working on over the next couple of weeks. Although controversial, Tether is one of the top 10 cryptocurrencies by market capitalisation, and its stable coin status may be of particular interest to P2P traders.

After Tether is implemented, the LocalCoinSwap team have decided to take all further coin implementations which are not part of B2B partnerships to the community. This will also simplify the hard launch roadmap, leaving only user experience updates, mobile optimisation, and metrics pages to go.

As a final note, after today we will be switching to integrated monthly announcements which will include both monthly development updates - beginning on the 15th of December, and monthly marketing updates - beginning at the end of this month.

The team will still make weekly updates to the sites development each Monday. However, for marketing purposes a couple of weeks leeway will allow us to more easily run advertising and social media campaigns focused around our development efforts.

As hard launch approaches, the development will now focus primarily on marketing. Planned updates include a custom marketing landing page, new tutorial / explainer videos, social media sharing, and integrated site translation. We feel that user experience is now at an acceptable level and it is time to focus more on volume driving.

Thanks for your continued support!

PS: Stay tuned for team updates about the community vote, coming in the next few days

[Valerizza]

Community Vote #2 - Referral Program!

It really is an auspicious and exciting time to be an investor in LocalCoinSwap. As the world’s first community-owned, P2P crypto exchange, we are thrilled to announce that we are about to have our second community vote in history!

All LocalCoinSwap crypto shareholders are able to take part in the democratic voting process in order to drive the direction of the development of our community-owned exchange. So, without further delay, let’s break down how the voting process works and what you will need to do to make your vote count...

What are we voting for?
We are voting to decide IF we should implement a Referral Program into the LocalCoinSwap platform and HOW it will be implemented.

The topic of a Referral Program has often been discussed in our official Telegram and Discord channels. This topic has been engaging, and at times heated, but your voices and suggestions have been heard and it is now time to make your vote count.

As promised, after we received all of your amazing community feedback we have condensed the vote outcome to a total of four options. It has been no easy task making sure each voice was heard in the selection process but the team have done it, delivering as always.

How does voting work?
The voting process works as follows:

When the vote begins, the LocalCoinSwap team will send LCSV2 tokens to anyone holding LCS Cryptoshares.  These LCSV2 tokens will be sent on a 1 to 1 ratio. This means that if you hold 1000 LCS Cryptoshares in a wallet you will receive 1000 LCSV2 tokens into that same wallet.

Once you receive your LCSV2 tokens you will then need to choose which of the 4 options you are going to vote for.  You can see a list of voting options below.

Each voting option will have a corresponding Ethereum address which we will announce on this blog in a separate post.  Once you have reviewed and selected your voting preference from the 4 voting options available, you must then send the LCSV2 tokens that you received, to the corresponding Ethereum address to make your vote.

After 7 days we tally all votes that are sent to the Ethereum addresses and a winning outcome will be announced to the LCS community.
When does the voting begin?
Voting will begin as soon as the LCSV2 tokens are sent out on Friday 30th November (GMT).

How long will voting be open?
Voting will be open for a total of seven (7) days so you will be able to take your time and choose the option that you feel is best suited to your vision of the LocalCoinSwap platform. If you have any questions, you can speak to a Community Manager in our Telegram or Discord channels.

What are our voting options?

There are 4 voting options that you can choose from:

Option 1:
- 20% total bonus with no holding of LCS
- 30% total bonus with the referrer holding 25-50k
- 40% total bonus with the referrer holding over 50k LCS
- In all above cases, 10% goes to the referee and the rest to the referrer

Option 2:
- 30% referral bonus.

Option 3:
- 50%  referral bonus but the referral program will run for 1 year only.

Option 4:
- No Referral Program

Please note:
If the outcome of the vote is in favour of a referral program (I.e. Option 4 is not the winner), all referral payments will be paid in the specific currency traded and come from the fees of that trade. In addition, the expected launch date of the referral program will be at the same time as the hard launch of the LocalCoinSwap exchange. The duration of the referral program for options 1 or 2* will be up to the discretion of LocalCoinSwap, as per other major exchange rulings.

What’s Next?
We will announce the Ethereum addresses for each voting option here on our blog in the next few days so stay tuned for more info to come!!

For further clarity, we will be adding additional instructional videos to this post that take you through the process of voting in order to make sure that the whole process is easy and fun for all involved. Throughout the week, if necessary, we will address any additional frequently asked questions in another blog post. As usual, if you have any urgent questions, we suggest that you head over to our Telegram or Discord channels to chat with the Community Management team who will be very happy to help with any questions.

It is time to use your voice and your voting power to help us continue to build the best platform possible. No matter the outcome, if your choice wins or not, remember that this is our greatest strength. No other exchange before has given the community a voice and such decision making power.

*LocalCoinSwap reserves the right to change the terms of the referral program at any time due to changing market conditions, risk of fraud, or any other factors we deem relevant.

[Valerizza]

Meet The LCS Team - Oleksii Shnyra

As some in the LocalCoinSwap community have been aware, we had taken on a new member to the Developer team recently to deal primarily with the frontend of the LocalCoinSwap platform. The candidate selection process was extensive until we found the perfect match. After a month settling in, we are very happy to reveal our newest member - Oleksii Shnyra! So lets get to it and learn a little bit about our newest member of the team!

Technical bio:

Oleksii started development in 2010 with interactive front-end pages. He has a deep and vested interest in all the latest approaches, frameworks, and tools used to solve real-world business problems. His main focus on UX/UI, optimized algorithms for data processing and efficient team development is an area that going forward, now we are reaching the hard launch, is going to give a real boost to the LocalCoinSwap exchange and build upon the fantastic work of our dedicated developer team.

In addition to this, Oleksii's strong experience of full cycle development, starting from prototype discussions to production launch, will add real practical value to LocalCoinSwap. Although primarily front-end focused in his new position, he has a wealth of experience building all required technical levels of a product: Front-end and back-end coding, database development, scaled infrastructure and continuous delivery!

What are your motivations and tendencies?

For me it is not just implementing an elegant combination of existing libraries into one large system but the ability to create something that is at least a bit innovative. Creating an impact and generating interaction with real users is a proof of my work. I love a challenge and enjoy solving demanding problems.
What do you love about LocalCoinSwap?

It is its spirit of a young, modern and rapidly growing startup while being an already reliable company. The efficient distributed development in different time-zones emphasises its core technology properties - blockchain. With LocalCoinSwap I have the ability to be at the frontier of tech implementation and company-wide announcements. The professional team respect and shared responsibility coupled with the ability to propose ideas, participate in the decision making process and actually implement them is excellent.
Motivated, talented and dedicated! I think we can all agree that it is awesome to have someone like this on board with us. A big congratulations to you Oleksii from all the team and community! We all look forward to a long and bright future together building the worlds best peer-to-peer cryptocurrency exchange!

We will certainly keep an eye out for all updates, however, if you have not already done so, you can jump onto the LocalCoinSwap exchange to check it out and follow our development progress or you can even get started P2P Trading today?

[Valerizza]

Frequently Asked Questions about Community Vote #2: Referral Program


As promised in our first post about the referral vote, and thanks to awesome community feedback including your Ambassadors direct input since our release, we have compiled answers to the most frequently asked questions! So before we go any further, all the team wish to thank you for your continued support and valuable input!

An additional how to vote using MyEtherWallet video will be posted in time for voting as well for added clarification. This will be added to our first post here and sent out across all channels of communication to you all!

Q) Please clarify the voting options, I am a little confused!
Vote Option 1:
- 20% total bonus for referrer holding of 0 - 24999 LCS‌
- 30% total bonus with the referrer holding 25-50k LCS
- 40% total bonus with the referrer holding over 50k LCS
- In all above cases, 10% goes to the referee and the rest to the referrer

In detail:

Option one is the most complex of the 3 voting choices however lets make it easier to understand and break it down. It is a tiered referral programme based on the holding of LCS cryptoshares. It is not limited to LCS cryptoshareholders by any means but for those investors holding anything more than 24999 LCS there is a larger bonus involved. In every case the referral bonus is split between the referrer (the person giving the link to sign up) and the referee (the person who signed up with the link.)

Example 1:

Steve holds 1000 LCS cryptoshares. He sends a referral link to his friend Billy to sign up to the LocalCoinSwap exchange. Every trade that Billy makes, the referral bonus will be split between the two. In this scenario the bonus would be 10% each from the trading fee as a reward. This is because Steve holds 1000 LCS cryptoshares and does not meet the requirements to gain additional bonus reward.

Example 2:

Steve holds 25001 LCS cryptoshares. As in example one he signs up his friend Billy. Now every trade that Billy makes gets a bonus of 30% because Steve holds more than 25000 LCS cryptoshares. In this scenario Steve will receive 20% and Billy 10%.

The referee always gets a guaranteed 10% which further incentives him to trade on the platform with this option. This is a shared bonus option where no matter the holding level of LCS both parties gain something. For further clarity the referee will never be able to know a referrers stake in LCS cryptoshares unless the referrer wishes to divulge that information.

Vote Option 2:
- 30% referral bonus.

This option is a little easier to explain. In this case ONLY the referrer will gain 30% of each trade completed by the referee. This is a more typical option from other exchanges offerings.

Example:

Steve refers Billy to sign up to LocalCoinSwap. Billy completes a trade buying 1 bitcoin. LocalCoinSwap takes the 1% fee in this case – 0.01000000BTC this is then shared between LCS and Steve. Steve ONLY will get the 0.003btc as a bonus NOT Billy.

Vote Option 3:
- 50%  referral bonus but the referral program will run for 1 year only.

This is exactly the same scenario as in option 2 above BUT there is a time limit on it. From the moment of launch it will run for exactly 1 year and then be stopped with no further referral awards given.

Example:

The program is launched January 1st 2019 – It will close January 1st 2020

Vote Option 4:
- No Referral Program

This is fairly obvious but still an important thing to cover. LocalCoinSwap is a community owned exchange. Your voting power is a valuable tool in being an LCS cryptoshareholder. Maybe none of the programs above appeal to you? Or you simply do not want a referral program at all. In these cases, use your vote and be counted amongst your fellow LCS shareholders.

Q) This was not in the Whitepaper?
As stated in the whitepaper, the direction and major decisions are taken to the community. It is in this regard we are decentralised and inclusive. This is the first community-owned exchange and we are leading the way forward for all. This is the time to put it into action. This was not in the whitepaper and, as such, is why it is being taken to a vote keeping in line with the ethos outlined above.

Q) How many people can I refer?
There is no limit to the number of people that you can refer - you can send the referral link to as many people as you like. The more you sign up, the more volume there will be for LCS shareholders to be paid in dividends every quarter. Also the more people you sign up, the more bonuses you will get for an accumulation of every active trader. For example, if you sign up 5 people and option 3 was the winner in the vote you would receive a referral bonus of 30% every time any of those 5 people trade on the site.

Q) How do people get my referral link?
If you go to your dashboard on the LCS website you will see the link to your referral code. Send this to any friends or family you like. Once they click it and sign up themselves you will automatically be accredited as having signed up a new member. you can also keep track of the amount of sign ups you have on the dashboard!

Q) What about people trying to commit fraud?
Fraud is taken very seriously at LocalCoinSwap and we will always protect our investors and users of the site. If any fraudulent activity is found we reserve the right to disqualify the referral bonus and shut down the users account.

Q) When do I receive the bonus from my referrals or in option 1 being a referee?
Instantly! As soon as the trade is completed your account wallet on the LCS site will be credited with the exact cryptocurrency that the trade was done with.  If case one is chosen by the community then this applies to the referee also.

Q) Who will see my votes?
No one! Your votes are anonymous by the very nature of the blockchain coming only as a simple token from an address. Your privacy is secured as in any transaction with cryptocurrency.

Q) I am still confused can you choose for me?
Neither the team nor the admins of the Telegram & discord channels can do this. We need to remain impartial so as to have the best shot at a fair and democratic community vote. Having said that any and all questions can be answered and discussed both openly in the main channels or privately via direct message. No question is too big or small and we will ensure to give you the clearest guidance on all options presented.

Q) Do I have to stake my LCS tokens for option 1 on the LCS exchange?
Yes, you will need to hold your tokens in your dedicated LCS wallet on the platform. As ever 95% of all the cryptocurrency on the exchange is held in cold storage, safely under lock and key!

Q) What is the point of this program, why not just advertise?
The main idea behind the program is to bolster volume and incentivize new users to join as well as existing users to trade more. As it is such a big decision it is for this reason the team have ensured it goes to a vote. However this does not mean the team are not going to advertise! On the contrary, as mentioned in the recent update post here – marketing will be shared with the community as it will now start to take center stage with hard launch fast approaching! On top of that as so may have heard we have a new Marketing Manager who is an expert in the field. More will be revealed about that once the settling in period is finished!

Q) How will the winning option be determined?
The option with the highest number of votes wins outright. Although a 50% +1 idea was floated we cannot use this system due to the fact that we are unable to ensure the required amount of voter turnout. This would then hold up operations longer than needed. If no referral wins, then there is a chance we can have another vote.

We hope that this helps to make the decision easier and the process more fun and inclusive. If you have any questions or are still struggling please do not hesitate to reach out and ask! Have a think, find what is suitable to you and get voting now!