Launch of LocalCryptos Exchange

Launch of LocalCryptos Exchange

June 18, 2020 by Desp
LocalCryptos.Club Your Favorite Place to Trade Your Favorite Cryptos! is a peer-to-peer (p2p) cryptocurrency exchange which brings together buyers and sellers from around the world to directly trade their favorite cryptocurrencies like BTC, LTC & XUNI. Often identified as the the Craigslist for Cryptocurrencies; Over The Counter Exchanges are the most authentic cryptocurrency trading

LocalCryptos.Club Your Favorite Place to Trade Your Favorite Cryptos! is a peer-to-peer (p2p) cryptocurrency exchange which brings together buyers and sellers from around the world to directly trade their favorite cryptocurrencies like BTC, LTC & XUNI. Often identified as the the Craigslist for Cryptocurrencies; Over The Counter Exchanges are the most authentic cryptocurrency trading platforms going back to the early days of Bitcoin when Bitcoin enthusiasts were meeting face to face or on online forums to trade. Exchanges like LocalCryptos are particularly well appreciated by cryptocurrency aficionados as they offer a much more personalised and private trading experience as compared to other Centralised Cryptocurrency Exchanges like Binance or Bittrex. Unlike most Centralised Exchanges that use trading softwares/ bots to match buyers and sellers; LocalCryptos allows users to communicate directly between each other, enjoy a much wider range of P2P payment options and take advantage of a built in escrow system for greater buyer security.

What Makes OTC Exchanges & LocalCryptos the best place to trade your cryptocurrencies?

There are several factors to consider when trading Cryptocurrencies and it is fundamental for every concerned parties to fully understand the major Differences Between an OTC Exchange like LocalCryptos and a regular Centralised Exchange.

  • Secure Trading

LocalCryptos ensures safe trading through the use of several measures like Reputation System where each trader has a reputation rank and holds a history record confirming their past successful trades.

  • Decentralised Exchange

As a Decentralised Exchange traders are Free to manage their trades as they wish and thus keep complete control over their ads. On the other hand traders on Centralised Exchanges are completely dependent on the good practices and legitimacy of the exchange.

  • Little Surveillance Risk

As compared to Centralised Exchanges where all trades happen in a centralised manner making it easy for transaction analysis and reporting; a peer to peer market place structured exchange like LocalCryptos allowing traders worldwide to trade directly among each other by defaults scatters transctions information making it much more difficult to gather intel on traders’buying & selling patterns.

  • No Trading Limits

Traders are Free to posts trades of any size as long as they have the relevant amount of Coins/ Tokens available in the wallets.

  • Escrow

When you request a trade, the traded cryptocurrencies are held on LocalCryptos’ escrow service until Both Parties have fulfilled their part of the trade. The Cryptocurrencies are released only after the seller confirms the payment is completed. A seller for instance can post a trade only if he has the relevent coins amount on his wallet. On the other hand traders on Centralised Exchanges are bound to trust the Exchange who could either broadcast fake trades or off-chain coins without any way to verifty. It’s only after you withdraw your coins that a trade can be confirmed to be legit.

  • 2FA

Whenever you log into your account you will be required to enter an additional PIN code provided by Google Authenticator. This prevents people from hacking into your account. This option should be enabled manually.

  • Support and Conflict Resolution

LocalCryptos has a support service ready to answer users’ questions and also resolve conflicts between buyers and sellers in case of disputes.

  • Buyers’ Anonymity

As compared to centralised exchanges where both buyers & sellers need to go through KYC. LocalCryptos Do Not require KYC to buy cryptocurrencies.

  • Large Range of Payment Methods

As compared to Centralised Exchanges which usually trade in limited pairs like BTC, ETH, LTC, UDST along with a couple of fiat deposit options; LocalCryptos has up to 25 supported P2P payment options to suit your most favourable trading requirements. Payment Options are completely independent from LocalCryptos removing any potential risk of conflict of interest. Examples: Paypal, Payza,National Bank Transfer, Western Union, Ria Money Transfer, OneCard & much more.

  • No Fake Volume & No Wash Trading

In order to create liquidity and regulate cryptocurrency prices on their exchange; it is common practice for Centralised Exchanges to take advantage of Trading Bots. These Trading Bots are specifically designed to trade and reshuffle their own orders to match buyers’ as well as sellers’ orders which as a result creates Millions of Dollars of unorganic daily trading volumes. LocalCryptos as a P2P Exchange has No Fake Volume. Buy & Sell orders are from Real People and trades happen only when a trade is accepted by a buyer or a seller. Read more about Wash Trading here:

  • Pick the Trade & Price that suit you

As compared to Centralised Exchanges where you have to solely rely on the Exchange Bots to match you with the best traded price available; LocalCryptos allows you to not only chose which trade terms & conditions fit best your expecatitions but also a price that is most favourable to you. On a Centralised Exchange you will usually have to place a market order and wait until the machines execute your trade while on LocalCryptos if you see a price that fits you; you are empowered to directly pick the trade. You Do Not have to wait for hours or days to close a few dollars or satoshis spread.

  • No Major Unfavourable Price Movements & No Price Chasing

The struggle to find a favourable trading price on Centralised Exchanges is very real due to the fact that Trading/ Market Making Bots are desiged to match trades which are profitable for them rather than giving you the best market price available. If for instance on LocalCryptos a seller has listed 1.5 Bitcoin for sales at $15,000; by accepting this trade you are guaranteed to buy the full 1.5 Bitcoin order for $15,000. On the otherhand Centralised Exchanges due to their market making practices, it is either very difficult if not impossible to buy same 1.5 Bitcoin for an agreed price of $15,000 in 1 execution. Constantly reshuffling the order books, the trading bots receiving your buy/ Sell order of 1.5 Bitcoin will automatically rewrite the market orders to drive the price up or down and even break down their orders into smaller lots forcing you to chase the price either higher or lower. For example generating 3 trades of 0.5 BTC each at 3 different price levels. Market Making is a core component of Centralised Exchanges revenue model which by default puts the Centralised Exchange best interest before yours.

  • No Extravagant Cost of Trading

Even if Centralised Exchanges have a few trading pairs to chose from it is very difficult to maintain low trading costs. Most of the time buying your favorite cryptocurrency from them implies buying bitcoins from Exchange X then send it to Exchange Y Before trading your Bitcoins for Crypto A and then Withdraw Crypto A to your personal wallet. The Transaction fees involved in this schema may sometimes cost up to a whooping 10% of your budget. On LocalCryptos the wide range of payment options by default reduces your trading cost by several multiples as you can pick both the cheapest and fastest payment option. For Example using Paypal allows you to maintain the whole dollar value of your transaction since personal Paypal transactions are FREE.

  • WorldWide Market

Available in more than 190 Countires; LocalCryptos is one of the largest P2P/ OTC Cryptocurrency Exchange worldwide. This direct access to such a large Cryptocurrency market makes it the best place for you to trade your favorite cryptocurrency in a very fast and cost effective manner.

  • Buyer/ Seller Chat services

Unlike Centralised Exchanges using automated systems to match buyers’ and sellers’ orders; LocalCryptos connects real buyers and sellers in real time to execute trades. These sellers and buyers can take full advantage of the Chat Service available on LocalCryptos to make sure that they can both find favourable trading terms while also ensuring a complete follow up on the exchange process.

It is with immense anticipation and excitement that we are now launching as the next step on the UltraNote Ecosystem Roadmap. We are looking forward to see you all and grow this platform as the perfect point of Entry & Exit into the UltraNote ecosystem.

Please Take a few minutes to Follow Us on Twitter @LocalcryptosC & more social media platforms to follow soon.

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