LocalCoinSwapPrice

(LCS)

LocalCoinSwap (LCS) is a peer-to-peer (P2P) non-custodial cryptocurrency exchange that enables users globally to buy and sell a wide array of cryptocurrencies using various payment methods. Unlike centralized exchanges, it facilitates direct trading between individuals. The platform secures crypto in escrow during transactions, ensuring that users maintain control of their private keys, which underscores its commitment to user autonomy and security in the P2P trading environment.

LCS Cryptoshares are the native token of the LocalCoinSwap platform. Holders of these tokens are entitled to a 100% share of the exchange's profits, distributed through regular buybacks and burns, which contributes to LCS being a deflationary asset over time. Additionally, LCS holders are granted voting rights on specific operational and developmental aspects of the project, allowing them to participate in its governance and strategic direction.

LocalCoinSwap operates as a non-custodial P2P platform and generally does not enforce mandatory KYC or ID verification. This non-KYC stance was a key motivation for its transition to a non-custodial model, aiming for broad global accessibility. However, it's important to note that individual sellers on the platform may, at their discretion, request ID for specific payment methods or larger transactions to ensure their own security and compliance.

The LocalCoinSwap exchange is characterized by several key features designed for a superior user experience. These include a secure escrow system that protects both buyers and sellers during transactions by holding funds until completion. It offers instant trading capabilities with immediate registration, allowing users to start trading quickly. The platform also implements a simplified fee structure where typically only the seller incurs a commission. Its goal is to support trading for the widest possible range of cryptocurrencies.

LCS tokens can be acquired and sold through various platforms. Users can purchase LCS with ETH on decentralized exchanges like Uniswap. It is also available on centralized exchanges such as LBank and Phemex. For example, on LBank, users can convert LCS to stablecoins like USDT in the spot market and then proceed to sell USDT. Additionally, a generic Web3 Wallet can be utilized to swap for LCS on other decentralized exchanges.

LocalCoinSwap's transition to a non-custodial platform was driven by evolving regulatory landscapes and a commitment to user empowerment. This shift provides users with full control over their private keys, significantly enhancing security and autonomy. Crucially, adopting a non-custodial model allowed the platform to uphold its commitment to remaining non-KYC and globally available, as a custodial model would likely have necessitated extensive KYC implementation to comply with tightening regulations, which would contradict its core principles.