FAQ

1. Overview

A token is a type of digital asset issued on the Blockchain and generally used as a unit-of-value. In recent years most tokens have been built on the Ethereum standard ERC-20

Crypto Tokens are commonly used to raise funds by venture project teams to launch services or as a means to deliver a service to customers. The Local Token Exchange (LTE) token will, among other things, be used as a means to distribute profits and airdrops from the platform to its user base.

A cryptocurrency is a type of non-physical digital currency that uses cryptography to regulate its creation and distribution securely. Bitcoin (BTC), Litecoin (LTC) and Ripple (XRP) coins are examples of cryptocurrencies.

ICO stands for Initial Coin Offering and is a mechanism for a project to issue a token in order to fund a new venture and services. ICO’s are in some respects a digital version of an IPO in the traditional stock market, but more accessible for smaller investors.

The Local Token Exchange presale period is being utilized to develop an initial following to use as a feedback and a testing ground for community development and marketing during the following ICO period. Pre-ICO refers to a sale of token units to investors in advance of the main ICO. This is used to raise early-stage funding for a venture and usually involves a minimum investment level.

Any units sold during the pre-ICO will be subtracted from units available for the ICO in order to ensure that the equity and the profits of investors are not reduced. Early stage investors will be added to a private mailing list (with their consent) and contacted directly (with their consent) for feedback on the Local Token Exchange platform development prior to the main ICO.

A crypto or digital asset is a non-physical commodity which may or may not be a currency. These assets can be often traded on a Blockchain in the same manner as cryptocurrencies.

The top crypto assets include:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Binance Coin (BNB)
  • Stellar (XLM)
  • Dash (DASH)
  • NEO (NEO)
  • NEM (XEM)

A smart contract is a protocol function or algorithm that is automatically executed by a computer system to digitally facilitate, verify, or enforce the negotiation or performance of a contract in a traceable, transparent and irreversible manner.

The most popular contracts are built on the Ethereum standard, ERC-20 Token, mostly for its mass usage and security level.

2. About Local Token Exchange

Local Token Exchange supports a range of cryptocurrencies and standard digital payment methods out of any exchange in existence and will cover the most extensive list of cryptocurrencies and payment methods currently available.

We offer a special support for Initial Coin Offering (ICO) campaigns and new token projects. This allows them to easily launch on our platform with options of attractive campaign offers for the users on the exchange as special pre-ICO and presale deals to raise additional funding.

If you are an investor Local Token Exchange you to hold a single asset at the same time receiving a portfolio of different forms of cryptocurrency as a regular income. You can trade Ethereum (ETC), Bitcoin (BTC), Litecoin (LTC), Ripple (XRP), or any other cryptocurrency that you have directly without having to pay for intermediary processes and associated fees.

Local Token Exchange platform is designed to enrich the entire community rather than a small number of individuals with the ability to manipulate the markets, and is a marketplace that distributes 70% of its profits back to its community.

As a registered user you will be able to buy and sell freely without unnecessary waiting or verification requirements. You will receive a regular dividend flow representing your share of the revenues derived from trading fees, escrow charges, withdrawal charges, ICO reviews, listing fees and airdrops.

3. Currencies and Cryptocurrencies on Local Token Exchange Platform

Local Token Exchange will open with direct support for a minimum of 5 of the most popular cryptocurrency wallets and a trading capability of over 300 cryptocurrency pairs.

These will include:

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Litecoin (LTC)
  • Ripple (XRP)

Additional cryptocurrencies will be added. Local Token Exchange will also support multiple payment methods, which shall be available in Q3 2018.

Local Token Exchange will support multiple payment methods.

4. About LTE Tokens

LTE tokens entitle the holder to the guaranteed right to receive 70% of profits from Local Token Exchange through regular cryptocurrency dividends.

LTE token investors receive key benefits:

1. Access to an entire portfolio through a single asset.
2. Dividend income stream.
3. Airdrops of new ICO tokens listed on the platform.

Key areas that funding will support are marketing and operations. It is imperative that This will involve attending events, the creation of promotional content, partnerships and engagement with the wider crypto community. LTE will be investing heavily into these areas to ensure real market penetration and traction are achieved and to support additional coins beyond the top 20 cryptocurrencies like Bitcoin (BTC), Ripple (XRP), Litecoin (LTC), and Ethereum (ETH).

The minimum investment level is 0.1 Ethereum (ETH) worth of LTE tokens. The maximum is limited by the remaining amount until the hard cap is reached. The hard cap will be stated on the website during the sale period.

Local Token Exchange is a community-focused exchange and bonuses are given to all new investors up to the date of the final phase of the ICO.

The maximum total supply of LTE tokens is hard capped at 77,963,600 LTE. No more can ever be created and unsold LTE tokens will be burned after the ICO ends in order to increase the value of the remaining LTE tokens.

LTE will be listed and traded on the LTE Exchange immediately following the close of the ICO.

You cannot purchase LTE tokens or participate in the Local Token Exchange (LTE) if it is illegal in your country of residence and/or citizenship. It is advisable to refer to your country’s legal standing on crypto trading and the SAFT before participating.

LTE tokens can be purchased with ETH (Ethereum), Bitcoin and Fiat through our ICO Portal ico.localtoken.exchange

5. Safety with Local Token Exchange

Screened employees vetted by our management team will only have certain access to required information when regulating a trade. In addition, no emails will be sent by Local Token Exchange without client consent and will not provide customer data to third parties under any circumstances. Messaging and banking information have an encryption process and after a transaction is completed we have no access to any communication between traders.

To protect customer accounts from being stolen by third parties Local Token Exchange implements several forms of two-factor authentication (2FA). Cold wallet storage protocol is used with all outgoing transactions which utilizes a smart contract on the place and limits the size of transactions.

Our team of legal advisors will ensure that we stay compliant with all relevant regulations. We do not accept fiat currency transfers directly or have any possession of the fiat currency portion of any transaction therefore we are not considered to be a financial intermediary under current regulations.

At any time an issue is found on the platform you can send us an email with the details and our team will deal with the issue directly to ensure continued professional, smooth running of the platform.

6. ICO Projects on Local Token Exchange

All ICO projects listed on the Local Token Exchange platform will gain access to additional funding sources and feedback from a variety of market users. With the help of our active and diverse community your ICO projects will gain additional marketing traction and brand visibility.

There are currently no fees for pre-ICO projects listing on the platform, but there will be a strict curation process.

Send us an email with your information and we will get in touch with you.