Where to Buy Loopring (LRC)

Loopring (LRC) is an open protocol designed to develop decentralized crypto exchanges. Furthermore, the protocol enables users to construct a non-custodial, order book-based exchange on the Ethereum network by utilizing zero-knowledge proofs (ZKPs). Users have ownership over the private keys using the non-custodial exchange, allowing them to keep the crypto and assets secure. Loopring is purported to be a new DeFi system that employs a variety of virtual currencies, including LRC, its native utility coin.

The protocol’s goal is to promote a global network of users to run a platform renowned for facilitating the development and production of new types of crypto-asset exchanges. Loopring claims that its exchanges can enable speedier settlement for traders by utilizing Zero-knowledge rollups or zk-rollups. Zk-rollups is a Layer 2 scaling technique that allows blockchains to validate transactions quickly while maintaining cheap gas prices. The Loopring platform, which uses cryptography (zk-rollups), allows exchanges to build on top of it to avoid the slow speeds and high costs associated with decentralized exchanges on Ethereum.

Do you still have questions concerning Loopring’s operation? Read on for our ‘What is Loopring?’ in-depth guide.

How to Buy Loopring

Best Exchange to Buy Loopring in March 2023

Compare Crypto Exchanges & Brokers

How to Sign Up at eToro

Creating a free eToro account is easy as the platform is very user-friendly, especially for beginners.

To open a new trading account, please follow the steps outlined below.

1. On the eToro website, click the “Join Now” or “Trade Now” button.
2. It has a form on this page where you can put in all of the personal information you need to open a new trading account.
3. Please complete this form completely.
4. You can log in with either Facebook or Gmail.
5. Before submitting your information for consideration, please review eToro’s terms and conditions and privacy statement.
6. Please check the box if you agree with all of the terms after you read them.
7. Submit your information by clicking the “sign-up” button.

eToro website homepage

If you’re interested in using the eToro mobile app on iOS or Android, check out our guide to the eToro app. It includes screenshots demonstrating the app’s appearance and functionality.

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Step 2: Upload ID

The eToro website will request that you scan and upload your proof of identity at this point in the process. This can be a passport, an ID card, or a bank statement; exact requirements vary by broker. Furthermore, some online brokers will request that you send them physical copies of your documents. This has the potential to significantly slow down the account opening process. Fortunately, in the case of eToro, this is possible via electronic means.

Step 3: Make a Deposit

Following the submission of supporting documentation, the next step is to link a payment method to your eToro account and deposit funds. Payment methods accepted by eToro include bank transfers, debit/credit cards, e-wallets, and PayPal.

Deposit methods on eToro

Step 4: Buy Looprin (LRC)

Find LRC on a recently funded eToro account using the search bar. When the result appears, click on the “Trade” button to be taken to the chart page.

Searching LRC on eToro

Step 5: Review Price

Find LRC on a recently funded eToro account using the search bar. When the result appears, click on the “Trade” button to be taken to the chart page.

LRC Price Chart on eToro

The good news is that eToro does not charge a maker/taker fee because they only charge for the buy/sell spread.

Step 6: Buy Looprin

Once you click on the “Trade Now” button, the order box will appear where you can add the amount you want to allocate to the Ankr token. Once the order is confirmed, eToro will proceed to execute the purchase, and then you can find the ANKR token in your portfolio.

 

Buy LRC on eToro

eToro listed the Loopring (LRC) token on March 1, 2022. Loopring is a zk-Rollup-based Layer 2 network. It enables developers to deploy high-performance decentralized applications on Ethereum, such as exchanges. LRC is Loopring’s native token, and it can be staked to earn a share of the protocol’s fees. For now, all the major coins are available on eToro, so there is no need to search for them on other exchanges.

Read more about how to buy cryptocurrency in 2023 here.

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Where to Buy Loopring- Best Platforms

Loopring is an Ethereum currency that self-describes as “an open-sourced, audited, and non-custodial trade protocol.” Its goal is to allow anyone to build non-custodial, order book-based exchanges on Ethereum using zero-knowledge proofs.

We have narrowed down the top platforms to buy Loopring after extensive study. Our list of platforms to buy Loopring in 2023 contains their features, fees, and the reasons why each one is unique. These platforms are safe, have reasonable prices, and are easy to use.

1 – eToro

eToro is a multi-asset investment platform that allows traders to increase their knowledge and riches while also becoming part of a vast community of successful investors. eToro was founded in 2007 with the goal of democratizing global markets so that you could trade and invest easily and transparently. eToro has now become a global community of over 20 million registered users who share their investment plans, and anyone can replicate the most successful tactics. Due to the platform’s simplicity, users may easily buy, hold, and sell assets, monitor their portfolios in real-time, and transact whenever they want.

However, while eToro operates multi-asset brokerages (providing equities, commodities, and currency trading) in other countries, consumers in the United States can currently only trade cryptocurrencies on the platform. Therefore, the company intends to increase its offerings in the United States in the future. Currently, eToro only provides its crypto service in 44 US states and Washington, DC. While all US residents can sign up for a free eToro account for virtual trading, actual cryptocurrency trading is currently unavailable for residents of the following states: Delaware, Hawaii, Minnesota, Nevada, New York, and Tennessee.

It also now offers stake rewards if you buy Ethereum and hold it in your wallet, or Cardano or Tron.

Read more about how to stake crypto.

Traders on eToro can initiate trading bitcoin for as little as $50, and eToro’s unique trading platform enables users to select traders with good track records and replicate their trading activity. However, remember the risks of dealing with these highly speculative assets.

On eToro, buying and selling can be done online and on mobile devices using their mobile app, whereas opening an eToro account is simple and takes only a few minutes.

Pros & Cons of the eToro platform:

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2 – Huobi

Huobi Global, headquartered in Singapore, was founded in 2013. Originally based in China, the company relocated to Singapore following China’s cryptocurrency ban. The exchange calls itself a digital asset exchange rather than a cryptocurrency exchange. It supports ICO tokens and allows trading in over 350 cryptocurrencies. According to the company, the future development of the blockchain economy will result in the creation of new categories of digital assets.

Huobi Global has three platforms: one for the entire world, one for Huobi Japan, and one for Huobi Korea. This exchange’s services are not available to US traders. It provides a sophisticated trading experience, including margin and futures trading, interactive charts, and limit and stop orders. The platform provides up to 5% leverage for margin trading. HuobiGlobal’s fee structure is very reasonable and comparatively low.

Deposit – The minimum deposit fee is $100 USD, and additional fees, such as deposit fees, transaction fees, and withdrawal fees, vary by currency.

Fee – Huobi charges a higher fee for those purchasing cryptocurrency using a credit or debit card. Maker and taker fees are charged at a flat rate of 0.2%. It can also be as low as 0.1 percent, depending on the volume of the scale.

Huobi Global provides customer support via email, phone, online chat, ticket system, and social media. It protects users with multiple layers of security, including two-factor authentication, cold storage, account freezing, and bitcoin reserves.

Huobi listed Loopring on September 15, 2022. The trading pairs available for trading include LRC/USDT, LRC/BTC and LRC/ETH.

Pros & Cons of the Huobi platform:

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3 – Crypto.com

Crypto.com, a global cryptocurrency exchange, was founded in 2016. It is based in Hong Kong and currently serves over 10 million traders in over 90 countries. It allows you to buy and sell over 250 cryptocurrencies with relatively low trading fees. The Crypto.com platform’s unique selling point is that it allows users to stake their cryptocurrency. Users can earn up to 14.5 percent p.a. interest by staking or holding them in a crypto.com wallet.

Aside from trading, the exchange offers a variety of other services such as staking rewards, Visa card benefits, NFT trading, DeFi products, and more. Through its university portal, the exchange also provides access to a variety of educational guides. This platform is appropriate for users who want to do more with their cryptocurrencies than simply hold them.

Security – Crypto.com employs a number of security measures, including MFA, which stands for multi-factor authentication.  It also employs whitelisting to protect customer accounts. To prevent hacks and losses, the platform employs compliance monitoring and stores customer deposits offline in cold storage.

Cashback – In addition to the Obsidian Card, Midnight Blue Card, Ruby Steel Card, and others, Crypto.com offers five prepaid Visa cards. These cards are accepted anywhere Visa is accepted and guarantee a certain percentage of cashback on purchases. With certain conditions, the Obsidian card offers the highest cashback rate of 8%. The Midnight Blue card provides 1% cash back, while the Ruby Steel card provides 2% cash back. There is no annual fee for using the card, and depending on the card, ATM withdrawals are also free.

Deposit – The minimum account balance on this platform is set at $1. The Maker/Taker fees range between 0.04 and 0.40 percent. Credit/debit card purchases are charged at 0% or no fee during the first 30 days of account opening. In addition, users can earn up to $2000 for each friend they refer.

Crypto.com listed Loopring (LRC) on August 05, 2021.  Users of the Crypto.com App can now purchase LRC at a true cost in USD, EUR, GBP, and 20+ fiat currencies, and spend it at over 60M merchants worldwide via the Crypto.com Visa Card.

Pros & Cons of the Crypto.com platform:

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4 – Bybit

Bybit exchange is managed by Bybit Fintech Limited, a British Virgin Islands-based firm. Bybit Market is a well-known peer-to-peer (P2P) BTC and cryptocurrency futures platform founded in Singapore; the Bybit team contains ex-workers of Morgan Stanley, Tencent, and other well-known enterprises, all of which can be located on LinkedIn.

Bybit exchange primarily delivers endless futures products with a leverage of 100:1. This suggests that they are striving to contest with established exchanges such as Binance and Phemex, which deliver comparable non-expiry futures contracts. While the exchanges have particular commonalities, Bybit presents some special benefits over its competitors. For instance, when we speak about their trading technology, we’ll enclose these aspects. Most traders from around the globe can use the exchange, and the site has been translated into English, Chinese, Korean, Japanese, and Russian; however, Bybit does not serve in certain jurisdictions, including the United States, Syria, and the Canadian province of Quebec.

Ben Zhou founded the company in March of 2018. He was the general manager of XM, a forex brokerage company, before evolving the exchange’s CEO. Ben Zhou put together an A-team of investment banking and fintech professionals who had formerly worked for Alibaba, Tencent, Morgan Stanley, and other well-known companies. As a result, the Bybit exchange now contains blockchain experts as well as seasoned currency dealers. Bybit is one of the fastest-growing cryptocurrency exchanges, with over 3 million registered users.

Bybit supports five cryptocurrencies for trading: BTC, ETH, EOS, XRP, and USDT. Each asset will have its own wallet by default, but Bybit will calculate your overall equity in BTC. If you have any of the coins listed above saved elsewhere, you can move them to your Bybit wallets and start trading with them. Bybit’s Fiat Gateway can be used to purchase cryptocurrency. The Fiat Gateway takes Bitcoin, Ethereum, and USDT and 45 fiat currencies such as the US dollar, Australian dollar, Euro, and pound sterling. Market takers pay 0.075 percent, while market makers pay -0.025 percent. As a result, they will be compensated when a market maker opens a transaction. This low cost encourages market makers to stay active and fill the order book.

Pros & Cons of the Bybit platform: