How To Redeem Your LCS Dividend Tokens

by LocalCoinSwap Team

LCS Dividend tokens must be redeemed on the LocalCoinSwap P2P exchange. Here is your step by step guide to make the process of redemption quick and easy...

Before we get started:

Please note that you do not need to send your LCS Cryptoshares to the LocalCoinSwap platform for redemption. You only need to send your LCS Dividend tokens, i.e. LCSD2019Q2.

1. Login / Sign up:

Log into LocalCoinSwap to begin. If you haven't already created an account, go to LocalCoinSwap and sign up for a new account.  

2. Send your LCS Dividend tokens to the LocalCoinSwap exchange:

If you keep your LCS Cryptoshares in a wallet such as Coinomi, Ledger or Trezor you will now need to send your LCS Dividend tokens to the LocalCoinSwap platform after signing up or logging in. If you held your LCS Cryptoshares on the platform at the time of the snapshot, you can ignore steps 2, 3 and 4.

3. Manually add your custom token:

To view your LCS Dividend tokens in a private wallet or MEW please add these details manually under add a custom token:

Ticker - LCSD2019Q2
Decimal - 18
Contract Address - 0x1719898df9512ad43e4cf292de62b1f8033d59af

4. Find your deposit address:

Once you have logged in, Click on the wallet tab, located at the top right of the screen. From here you will be greeted with a few tabs, select deposit. Once open from the cryptocurrency pulldown menu locate LCS Dividend token - LCSD as in the picture.

You will now see the correct wallet address to send your LCS Dividend tokens to from your private controlled wallet such as MyEtherWallet, Coinomi, Ledger etc.

5. Redemption:

Once your LCS Dividend tokens have been received in your wallet address located in the previous step, or if you hold your LCS Cryptoshares already on the platform you will see your available LCS Dividends balance in your wallet.

Next to the balance, you will see a large green box as shown in the picture titled “redeem”.

Click this button and you will be asked for your 2FA code if you have enabled it in your security settings.

You will then be asked for a final confirmation and shown the number LCS of Dividend tokens that you will receive in all traded cryptocurrencies over the past quarter. Click yes to proceed.

All of your LCS Dividend tokens will be unlocked and your LocalCoinSwap platform wallets will be credited instantly.

In summary:

Send your LCS Dividend tokens to your LocalCoinSwap wallet address on our exchange once you have signed up - https://localcoinswap.com

Redeem manually by clicking on wallet, once signed in, and clicking the large green redeem button next to your LCS Dividend token (or leave it to automatically redeem after the expiration date.*)

Your LCS Dividend tokens (in the form of all traded cryptocurrency that quarter) automatically go to their relevant wallets in your LocalCoinSwap account.

You choose what to do later with your cryptocurrency earnings. Trade on site, send off-site to a private wallet.

(If you hold your LCS Cryptoshares on the platform, you can ignore the first step)

  • The 2019 Q2 dividends sent on June 20, 2019 will expire on September 16, 2019, 08:00 UTC. If they are already on the exchange they will automatically redeem once the time is up. If they are left in your private wallet then the values contained will go back to the dividend pool for the next quarter.