The best places to purchase Loopring cryptocurrency, or LRC, the protocol’s native coin, are reviewed in this guide.
Where to Buy Loopring (LRC) – Best Platforms
Since it has been around for a while and is a well-known altcoin, the Loopring cryptocurrency token is listed on many crypto platforms. The best places to buy Loopring include:
Read More: Is Loopring Crypto A Good Investment In 2023?
1. EToro – Overall Best Platform to Buy LRC Token
eToro is one of the world’s leading social trading platforms with 27 million verified users as of It is regarded as the most secure platform by many investors and traders as of Q2 2022. It has an advantage over competing platforms because it is governed by the CySEC, the FCA, and the ASIC and allows signups from the United States.
The two unique features of this platform are copy trading and copy portfolio. The former enables users to directly copy other traders’ portfolio allocation, while the latter enables users to copy trades or trading strategies of other successful traders on the platform. It has a well-known investor program that enables traders to make money by copying them using the aforementioned features.
In eToro, a $10 minimum deposit is all that is necessary to purchase LRC. Additionally, fractional units of crypto can be bought. Since it is USD denominated, a conversion fee must be paid if you deposit money in any other currency. There are no deposit fees for US citizens.
Additionally, a nominal rate of 1% is charged for buying and selling cryptocurrencies, which is extremely low when compared to other platforms. The cost is tacked on top of the asking price.
eToro provides its clients with free insurance giving coverage of up to 1 million There is no need to register for the insurance plan separately in USD, EUR, GBP, or AUD.
The platform has an online trading academy that offers helpful tools to its users so they can understand the nuances of trading and investing.
How to Buy Loopring – eToro Tutorial
In terms of how to buy Loopring, follow the steps below:
- Step 1 – Create an eToro Account
Visit eToro’s official website and create a free account.
They have an easy-to-use interface for beginners, and setting up an account is quick and easy; you simply go to a form and fill in your name, email address, and password.
- Step 2 – Complete the KYC Process
Users must confirm their identity before making a withdrawal on eToro because it is a highly secure, regulated cryptocurrency platform.
Along with a utility bill or other form of residency proof, you could also use a scan of any government-issued identification.
- Step 3 – Deposit Funds
You must first deposit fiat money in order to purchase Loopring crypto or any of the platforms’ 60+ additional coins.
The minimum deposit amount is $10, and eToro accepts a wider range of payment options, including Paypal, than other cryptocurrency platforms.
- Step 4 – Buy Loopring
Enter “Loopring” into the top search bar and select the search result.
In addition to charts, eToro offers research information about the Loopring project and tokenomics, as well as access to a social feed where investors can read feedback from other Loopring buyers and get a sense of the market’s mood.
2. Coinbase – Platform Used by More Than 89m Users
One of the biggest platforms, Coinbase operates in more than 100 nations. There are currently over 89 million users on it. United States Coinbase, Inc. manages the platform., which is licensed to engage in money transmission in most U.S. jurisdictions.
Additionally, FinCEN has listed it as a Money Services Business. All applicable laws and regulations in the jurisdictions in which it operates must be complied with, according to these regulations.
The platform has cutting-edge security measures in place to protect users’ assets and private data. It offers Hosted Cryptocurrency Wallet service free of cost. Users can use it to directly store their cryptocurrency on their devices in cold storage.
A significant drawback of Coinbase is that its fees are generally on the higher side. Its taker fee rate ranges from 0.05% and 0.60% and maker fee rate ranges from 0.00% and 0.40%.https://business2community.com/visit/etoro/
The rewards for staking are determined by the protocols of the relevant network. Coinbase facilitates the staking of assets in a third-party proof-of-stake network through the use of staking services. Prior to crediting the rewards to users’ accounts, Coinbase withholds a flat 25% commission from the prizes.
On Coinbase, $2 is the minimal purchase requirement for cryptocurrencies.
3. Binance – Most Known Platform in the Crypto World
With a significant trading volume, Binance is well-liked by traders. It is a user-friendly platform that offers more than 600 cryptocurrency assets and makes it simple to buy and sell cryptocurrencies.
Because of its sophisticated technical analysis, Binance is a platform you should think about using whether you want to short or long Loopring. These technical features come in handy for experienced traders for executing successful and profitable trades. Option and futures trading are also made possible by the platform.
Secure Assets Fund (SAFU), one of Binance’s strong security measures, is in place to protect user funds. You can now purchase LRC or any other cryptocurrency on one of the safest exchanges available online.
The affordable fee structure of Binance is another factor to consider when selecting a trading platform. The maker/take fee is 0.1 percent. If you make deposits using debit or credit cards, there is a higher fee. For all Visa and MasterCard payment methods, this essentially equates to a 2% transaction fee when adding money. In the case, $20 is the minimal deposit. There is a $10 minimum trade.
For its users, Binance provides a range of income opportunities. On their cryptocurrency holdings, traders can earn interest thanks to its flexible savings and locked savings features. You can add to your earnings on your holdings with the help of the Binance Earn program, which provides a wide range of cryptocurrency financial products.
What is Loopring?
A decentralized cryptocurrency exchange can be built using the open protocol known as Loopring. The use of zero-knowledge proofs (ZKPs) enables users to build an order book-based, non-custodial exchange on the Ethereum network.
Read More: Custodial vs Non-Custodial Wallets – Difference & Which One to Choose
Daniel Wang established the Loopring project in 2017 with the intention of expanding decentralized exchanges so that transactions could be completed more quickly and inexpensively. In August 2017, it was introduced.
The native utility token of the Loopring protocol, called Loopring (LRC), is an ERC-20 token created on the Ethereum Blockchain.
ZK rollups, or zero-knowledge rollups, are a type of cryptography that is used by Loopring. The scalability method is layer 2. While keeping gas prices at a very low level, it enables quicker transaction validation and settlement.
With the help of zk-rollups, Loopring exchanges can carry out the majority of operations, such as trade and settlement, elsewhere in addition to the Ethereum Blockchain. As a result, the Loopring exchange is able to send fewer transactions to the Ethereum blockchain.
For investors, fewer Ethereum transactions mean faster and less expensive. Also ensuring complete user control over the assets is the zk-rollup.
Should You Invest in Loopring?
Users must pay “high gas fees” when using Ethereum, which is a well-known fact in the cryptocurrency community. Users are now looking for alternatives like Cardano and others as a result.
Exchanges like Loopring L2 would be useful in this situation. As per the info mentioned on their website, users could trade cheaply and speedily without worrying about the Ethereum congestion and gas fees.
It’s important to note that security has never been compromised, so users can feel secure. Several functionalities provided by Loopring L2 are only briefly described here. We advise visiting their blog section to read a number of carefully curated articles that were written by them.
Loopring Price Prediction
The 21 weekly EMA is currently at $0.88 which has been holding the LRC price down so far – since it lost that exponential moving average in mid January 2022 and has failed to reclaim it.
The next resistance level for the LRC price would be $1.35, its March 2022 monthly high, if it can once more find support on that EMA, as it did before its bull run in late 2021.
With BTC still trading at around $30,000 and US stocks falling, the crypto market is currently erratic, sending panic-inducing thoughts of an impending recession and rising inflation. When that passes LRC could move up to retest the $2 resistance level – which previously held up the LRC price as support in Q4 2021.
There won’t be much resistance to the upside for LRC if it can close a weekly candle above $2.50, and the stock could easily enter price discovery and hit a new record high above $4 to $5.
Conclusion
Loopring’s intention to increase liquidity is indicated by the fact that it has proactively joined other exchanges. Many crypto experts hold it in high regard because of its lowest-order price-matching feature, which helps to prevent arbitrage in the cryptocurrency market.
The Loopring protocol is superior to other platforms because it can accommodate a variety of other exchanges with ease. If you believe that technological advancements such as ring-matching and ring orders will elevate the standard trading experience, you should consider investing in LRC from a fundamental analysis and tech perspective.
