I wrote about the Localcoinswap ICO previously here but with the ICO selling out so well it's worth taking another look.

I could sit here for an eternity and list the different cryptocurrency exchanges that are out there in the marketplace, but that would bore you to tears. To be honest, the majority of them just repeat the same mantra and do the same thing along similar lines and it all becomes a bit boring.
https://www.localcoinswap.com/index.html
So, there are some that claim LocalCoinSwap could become the most inclusive exchange ever, and that is a pretty impressive claim to make. Now, as a potential investor in the project, you would obviously want to know if this is true or not since it could have a direct impact on the decision you make.

The Difference with LocalCoinSwap Over Other Exchanges

In order to help, let’s look at something that could play a major role in your decision, and that is the difference that exists between this exchange compared to others.

What you find is that the team behind the project state that while they run a decentralized cryptoexchange just the same as so many others, there is one area where they differentiate themselves from the market. That area is connected to the profits as it tends to be the case that the profits remain centralized for the company, but they are not planning on doing that.

Instead, they are quick to point out that the profits are also going to be decentralized meaning the users will be able to benefit which is a pretty smooth move to make. Instantly, you can see how this share of the profits could really help the entire platform to grow. Furthermore, you get to make the decisions and take part in the process of helping to build the platform and deciding on the direction it takes providing a truly decentralized exchange in every sense of the word.

In fact, it could be claimed that their mantra is that everyone is going to be in line to benefit from this exchange rather than a select few. That in itself is a pretty big difference and it is something that is to be admired.

Security on the Exchange

Even though so many things are dealt with as a group consensus, that does not mean that the security side of things is going to be compromised in any way. Actually, the team behind LocalCoinSwap are quick to point out that they have three key ways in which they plan on protecting both the buyer and seller on their platform.

First, there’s the way in which they tackle the issue of hackers as there have been instances before with other exchanges where coins have been lost due to hacking. With this, they are going to be keeping 95% of the coins in what they refer to as a cold wallet along with including a secondary server that has the sole purpose of looking out for any intrusion. In addition, staff have the ability to lock down the servers if any suspicious activity is noticed to then provide them with time to look into it, so it will prove to be difficult for hackers to really get into the core of the exchange.

A second way is connected to their ability to protect from both fraud and theft. They deal with the cryptocurrency aspect so if there are any disputes then they are in the perfect position to check out what went on. Also, for fiat currencies they run an escrow payment which is just another added layer of security.

But here is the big one, they do not believe in keeping stacks of data on you and your privacy is paramount to their entire platform. Once a transaction has been completed, your data is wiped as well as the messages that have been sent. The only thing that is kept is the feedback since that allows people to see how trustworthy you are as either a buyer or seller, and that is the thing that helps the exchange to evolve and develop.

What is clear from the outset with this project is that the team behind it is not all about trying to line their own pockets as best they can because what we actually have is something that is all about profit sharing and working as a community. This is an exciting project because if you are going to benefit from it, then you would want to make sure that the exchange was running as smoothly as possible, so it is difficult to see where anything could go wrong with it.

Ultimately, investing some of your money in this project could be a great idea because there is no doubt that there will be a significant volume of trading done on the exchange in a relatively short period of time. Of course, you might end up using it yourself, and why not when you are going to get some of the profits anyway?
https://www.localcoinswap.com/index.html