Exchange and Explore
The decentralized exchange (DEX) of LocalCoin has a similar look&feel as traditional centralized exchanges. However, trading in the DEX can have many different appearances, depending on what user-interface is used. We here describe the user interface of the official wallet.
Orders can be placed in the same way as everywhere else, by providing
- the amount to buy/sell
- the price at which to buy/sell
In contrast to other exchanges, LocalCoin asks for a tiny flat fee for placing an order. This fee can be payed in USD, BTC, or GOLD and is independent of the actual assets that are traded.
If you cancel an order that has not been fully or partially filled, 90% of the fee will be payed back to your account. However, this chargeback will be in LLC and not in the asset you have originally paid the fee in.