First P2P Trading of Kusama on LocalCoinSwap

. 3 min read

LocalCoinSwap is always looking to embrace and engage with cutting edge projects and has done so with the development and rollout of non-custodial trading of Kusama (KSM).

Following the recent launch of LocalCoinSwap’s multi-custodial API that initially welcomed Kusama trading to LocalCoinSwap, non-custodial trading of KSM is now fully available on the platform. While providing incredible flexibility and a low barrier of entry to traders worldwide looking to trade KSM, LocalCoinSwap is proud to be the first platform to combine Kusama with peer-to-peer (P2P) trading.

What is Peer-to-Peer Trading?

P2P trading allows for a more direct trading experience where buyers and sellers engage directly with one another while the exchange provides essential services such as escrow protection and dispute moderation. The use of P2P trading supports traders from around the world in exchanging digital assets in whatever methods that best suit their particular needs. The nature of P2P trading allows traders to have more control over the terms or specifics of their trades, along with allowing for a wide variety of payment types that would otherwise be unavailable.

LocalCoinSwap offers the ability to buy or sell cryptocurrency with over 300 payment methods and supports the exchange of a range of assets, including Bitcoin (BTC), Ethereum (ETH), and now Kusama (KSM).

What is Kusama?

Kusama is a fast-moving proving ground for Polkadot that provides early upgrades, on-chain governance, and parachains. Often referred to as the “Canary Network” for Polkadot, the project isn’t afraid to push the limits and move quickly.

“We firmly believe that the scaling and interoperability Kusama offers is essential to take cryptocurrency and blockchain technologies to the next stages of adoption and usability. With this in mind, users need an unrestricted and direct pathway from their local fiat currency into this ecosystem without relying on additional custodians or other blockchain assets. This is why LocalCoinSwap’s integration of Kusama is so important for this space”

Daniel Worsley: LocalCoinSwap Co-Founder and COO

Non-Custodial Kusama Trading

The trading of KSM on LocalCoinSwap is further enhanced with a non-custodial trading model. This form of trading removes the need to place control of your funds in the platform’s hands to trade with other users. Both the trading of KSM and the wallets used are non-custodial, which provides users with increased peace of mind and security backed by code rather than trust. The non-custodial KSM wallets generated by LocalCoinSwap could even be used in the event the platform was offline, ensuring access to your assets at any time.

Trade Without Compromises

  • World-first multi-custodial API with support for a range of cryptocurrencies
  • Essentially any verifiable payment method is available (or can be added rapidly)
  • Fiat support across the board provides the cornerstone for international exchange
  • Community-first platform with swift support and dispute resolution

Pushing Boundaries With Kusama

Bringing P2P trading to Kusama was a new frontier for LocalCoinSwap. During the development of this release, LocalCoinSwap worked in conjunction with the Kusama Treasury to expand the Kusama protocol to support the necessary foundations for P2P trading. This development was solidified with the LocalCoinSwap API launch, which allowed not just LocalCoinSwap but developers anywhere to have the tools to enable the fast and safe trading of KSM P2P, which is now available across the LocalCoinSwap platform as well.

Much More to Come

LocalCoinSwap is continually striving to develop the best P2P exchange platform. Working alongside projects like Kusama helps to stay in stride with the cutting edge technologies making waves in the cryptocurrency space. We are excited to showcase this new addition to LocalCoinSwap and share its underlying development with the broader community. We are looking forward to what is to come with Kusama and have our sights set on other protocols as well. There is much more to come from LocalCoinSwap, and we are excited to share more of our development efforts soon.

Never satisfied with standing still, the team is continuing to enter new markets, extend collaborative efforts, foster the growth of P2P trading, and the LocalCoinSwap community.