Today, many spheres of life begin to accept cryptocurrency as a monetary unit and when exchanging fiat money for digital exchangers take 5-10% commission for their services. But the exchange of cryptocurrency in 2018, charge for the transfers only 1-5%. But it is worth noting that not all exchanges work with fiat money.
Consider some of the most famous:
The cryptocurrency exchange Binance started its work in 2017, and during this time it has gained popularity among users. Now the Finance exchange is in the TOP 5 exchanges by daily trading volume. The headquarters of the exchange Finance is in Hong Kong, which gives greater reliability than the jurisdiction of other exchanges. Binance stands out among competitors for low fees for trading on the platform (0.1%) and fast transaction processing. Finance technology allows the exchange to process up to 1.4 million orders per second.
Based on data from the site https://coinmarketcap.com/currencies/volume/24-hour/, the income of this exchange for 24 hours on the pair BTC/USDT for today's date is 368 504$. This is just a crazy figure only at one auction(see screenshot below)!
And another example of the exchange as LiveCoin:
-Trading pairs: 191;
-Transaction fee: 0.1-0.2%;
-Depositing of the account: Bank (1%), Payeer (1,5%), PerfectMoney (1,5%);
-Money withdrawal: Payeer (1.5%), PerfectMoney (1.5%), Bank (2.5%+7$).
Proceeding from the fact that the volume of capitalization of cryptocurrencies has already reached the mark of 500 billion dollars, we can say that these exchangers earn a lot of money, while not always having favorable conditions for users, and sometimes change them in their direction!
It is time to stop such interest for the exchange and earn the users themselves, making deals with each other directly and this will be possible thanks to the project LocalCoinSwap!
The team of this project creates a peer-to-peer platform-a community where users can directly communicate with each other different cryptocurrencies(their number will increase with promotion) and as the guarantor of the transaction will be the third party that will also eliminate fraud, delays and middlemen taking a large fee.
This was the main goal, but apart from that the benefits of using this platform will be very much, here are some of them:
-all participants will be equal, no preliminary checks;
-the deposit system is used, which increases confidence;
-all profits will be distributed among all holders of LCS cryptocurrencies that can be purchased on the tokensale;
-you can also receive dividends from businesses that will be carried out with the help of this company;
-and another great bonus is the receipt of tokens ICO that will be on this platform.
As you have already seen, this idea is created primarily for its users, eliminating many of the shortcomings of existing centralized exchanges. That's just my personal example: on the exchange Poloniex needed to increase the withdrawal limit, so this verification procedure I took almost six months, the support was very long. Here this will not happen!
Users of the community will actively participate in many decisions of the company with a large number of votes, which shows a democratic approach and takes into account the opinions of customers. Token sale is already in full swing and you can see in the picture below its progress to date:
The collected funds will be used to increase the number of crypto-currency pairs, the rapid development of the idea. In my opinion, such an exchange will significantly save money for traders, ordinary buyers of digital money, increase the reliability and speed of transactions, and thereby enable the growth of capitalization of cryptocurrencies without intermediaries in the form of banking and electronic payment systems.
Because many want to remain anonymous and that no one knew about the majority of their financial transactions and traditional exchange do not take into account this point, and sometimes require you to verify your identity using documents such as passport, driver's license and this is dangerous because scammers can just hack into their servers and steal data.
Although there are now peer-to-peer markets, not everyone takes into account the existing problems as well , which in addition also so plans to encourage their token holders and associates. Soft cap already collected, public sale ends 15 june 2018.
More information you can find on these links:
Website: https://www.localcoinswap.com/
Whitepaper: https://www.localcoinswap.com/LocalCoinSwap_whitepaper_v1.0.pdf
My bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1184171