Releases

We're excited to introduce automated trade messages on LocalCoinSwap, a feature designed to enhance communication efficiency and provide a smoother trading experience for our vendors.

How does it work?

Vendors can now configure custom messages for three crucial trading stages:

• When the trade is accepted: Welcome messages, initial instructions, or verification requirements
• When crypto is escrowed: Payment details, instructions, or next steps
• When the trade is completed: Thank you messages, feedback requests, or future trading invitations

Benefits for vendors

• Save time by eliminating repetitive typing or copy-pasting
• Maintain consistent communication across all trades
• Provide instant updates to trading partners
• Reduce waiting time for buyers

The automated messages feature is now live and available to all vendors on LocalCoinSwap.

After thorough development and testing, we are thrilled to announce that trading Litecoin (LTC) is now possible on LocalCoinSwap, utilizing a fully non-custodial approach.

Yet another coin?

The adoption of Litecoin has been on the rise, thanks to its increasing use in retail transactions worldwide. The Litecoin network offers an appealing alternative during Bitcoin’s fee spikes, providing a more accessible option for everyday transactions. And a huge shoutout to our active Telegram community for continuous feedback and support.

What's the network fee for LTC trades?

It's peanuts, really! We are using bech32 format P2WPKH address types (those starting with ltc1). The most efficient format as far as network fee is concerned. Costs about 0.00016 USD in fee for most transactions on chain.

What all can I do with Litecoin on LocalCoinSwap?

• Deposit and withdraw LTC seamlessly.
• Swap LTC with any supported cryptocurrency in our diverse wallet offerings and vice versa.
• Buy and sell LTC peer-to-peer on our marketplace with over 300 payment methods

One last thing, you can also buy prepaid cards and other gift cards using Litecoin on our newly launched product spendcrypto.com

What is anti-phishing code?

It's a unique secret string of letters and numbers associated with your account.

How is it useful?

We send it in all transaction emails to you. You know the email is from us if the anti-phishing code matches your account. This way, if a fraudster tries to scam you by sending fake emails with fake localcoinswap website link, you know it's a scam because they won't know your anti-phishing code. So, never disclose this code to anyone.

Can I change this code to a more memorable word?

Yes! Go to Settings -> Notification settings -> Email notifications. Click on the Edit button and you'll see your Anti-phishing code there. Edit it to whatever short string you like.

Be safe out there!

We have added a cool new feature in Swaps. After creating the Swap order, you can now view a Timeline of progress.

Here's a quick view.

Along with this, we polished the Swap flow with these changes:

• Every Swap order can be viewed in a dedicated page
• Dynamic updates on the Swap page
• Clutter free notifications
• New UI reducing confusions about editable fields

We plan to add some cool new features to Swap in near future. Stay tuned!

There has been a rise in phishing scam. Primarily of two types, one where the attacker sends you an email with a deposit address. Another where the attacker leads you to an identical clone website that looks like LocalCoinSwap and tricks you into entering passwords and verification codes.

We have made changes in emails to help you detect these before they cause any damage.

Location and IP in the login verification email

The email containing the login verification code is now updated to show the Location and IP. Please always check this before entering the code. Do NOT enter the code if you think it's not your country or IP.

Misc email updates

• Phishing warning in the first email we send you to verify account

• New emails for Referral notifications
• Improved emails for Trade updates and chat messages
• All other emails across the board have been updated aesthetically

We have completely overhauled our notifications backend to enhance the user experience significantly, making it more natural, faster, and scalable.

Thoughtfully Condensed Notifications

Previously, each status change in the notification list generated a new entry. This approach led to a cluttered list, making it challenging to locate other trades amidst the notifications. Now, notifications have been streamlined to feature just one notification per trade. Furthermore, you will now observe the most recent trade status within the notification.

Trade chat gets a separate notification too. Swap notifications will also be condensed into one, just like trades. All this while still ensuring that you get an update for every status change or a new message.

Insightful Headlines

Across all notification channels—Email, Telegram, Website, and Push Notifications—improved wording has been implemented for ease of identification.

Decreased Email Notification Clutter

• Emails concerning trade statuses will only be dispatched for new trades, escrow confirmations, and trade completions.
• Regarding new messages in a trade, multiple emails for each trade chat message have been eliminated. Instead, a buffer period of 1 hour has been introduced before another "New message" notification for a trade is sent via email.

Lightning fast and fluid

Trade chat and notifications now boast approximately 30% faster responsiveness. Additionally, a subtle yet elegant animation has been incorporated into the chat interface.

A long standing request from our vendors and it's finally here. A dedicated page showing past trades with a user, along with some interesting metrics.

Here's a screenshot of the current version. We plan to add more useful information to this page in future.

And while we were at it, we have also made some cool changes to the profile page as well. Check out your profile now!

With a long list of trade history, it gets difficult to navigate through them. We have made some improvements to it.

• Filter by status: You now have the option to filter trades based on their status. It's important to note that when filtering by "Completed trades," it will also include trades where a dispute was resolved in favor of the buyer. Similarly, when filtering by "Cancelled trades," it will include trades where a dispute was resolved in favor of the seller.

• Compact list: We are moving away from grid card view for past history as this list could be long and vendors usually want to view them in a chronological order.
  • The timestamp in each row is a link to the trade, so you can right click and copy the link or open in a new tab.
  • The list now displays 20 rows per page, as opposed to the previous 9 cards per grid.

Vendors with large number of trades often end up with hundreds of trade UTXOs. UTXO == unspent transaction.

With large number of UTXOs, you often require a way to select specific UTXOs to spend to reduce the amount of network fee.

Enter UTXO manager: https://localcoinswap.com/my-wallet/utxos/BTC

• Already sorted by amount (high to low)
• Select/Deselect any UTXO (comes with a select all checkbox on top)
• Set manual feerate
• Shows top 500 UTXOs

This is still in Beta, so the page is only accessible via the above link.

If you control your LocalCoinSwap wallet using external wallets such as Electrum or BlueWallet, you can take advantage of the RBF feature to increase the fee for any transaction. This comes in handy, especially when the network experiences sudden spikes in activity right after you've broadcasted your Escrow at a normal feerate.

In the future, we have plans to introduce a "Bump Fee" functionality directly within the trades themselves. Exciting times are ahead, so stay tuned for further updates!

We're excited to offer feeless escrows for USDT-TRC20 and TRX trades on the TRON network. As a seller, you no longer need to hold TRX in your wallet for USDT-TRC20 transactions. But you might be wondering, how do we handle the network fees?

On the TRON network, transactions consume Energy and Bandwidth, which are typically funded by burning TRX from your account. However, when you initiate an escrow with us, we provide you with sufficient Energy to cover the escrow, ensuring that no TRX is burned from your wallet. However, we don't have unlimited source of Energy either.

Without this design, the standard amount of TRX burnt for fees to fund a USDT-TRC20 escrow is approximately $4. To sustain this model, we charge the vendor of the trade 2 USDT-TRC20. You can find more information about our fees here.

Vendors have spoken and we've heard 'em. We've made some delightful changes to trade flow.

• BEP20 token trades: Approval step only in your first trade. From second trade onwards, trade will proceed straight to escrow.
• 2-step release: The escrow release button now prompts you again to confirm if you indeed want to release. This is to prevent accidental releases.
• Pre-release escrow: If the buyer goes afk without clicking on the "Paid" button, seller can release escrow themselves instead of waiting for the buyer or raising a dispute just to release.
• Cancel dispute: You can now cancel a dispute if both traders want to continue the trade. The trader who raised the dispute will see a "Withdraw dispute" button.
• Trade title: Browser title bar will now show the username of the other trader and the fiat amount for convenience to quickly switch tabs on desktop.