Patrick JenningsAfter an explosive bull run from $0.16 to $3.85 in 2021 – a 24x gain – followed by a correction in 2022, some traders will be wondering where to buy Loopring now for the next bull cycle.
The Loopring price has hit the top gainers list on several crypto exchanges in recent days, and Loopring trading volume has been rising – buyers are interested now that it has retraced to a low price point and the support levels around $0.50 – its current 2022 low was $0.32.
In this guide we’ll review the top platforms to buy Loopring crypto – the protocol’s native coin LRC.
How to Buy Loopring – Quick Guide
- ✅ Step 1: Open an account: Visit the official eToro website and open a free account. Enter your personal details and upload ID documents to complete the verification process.
- 💳 Step 2: Deposit: Deposit funds to buy Loopring – the minimum deposit is $10 in the US and UK, and slightly more worldwide. You can choose deposit methods including bank transfer, debit / credit card, Paypal, eWallets and more.
- 🔎 Step 3: Search for LRC: At the top of the website enter Loopring or its ticker symbol LRC – then click the ‘Trade’ button to begin trading.
- 🛒 Step 4: Buy LRC: Enter the amount you want to invest in Loopring. Then click on open trade. Your trade will be executed and LRC crypto tokens added to your wallet balance.
Where to Buy Loopring (LRC) – Best Platforms
The Loopring crypto token is listed on many crypto platforms since it’s been around several years and is a popular altcoin. The best places to buy Loopring include:
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 Q2 2022. 
It is considered by many investors and traders to be the most secure platform. Being regulated by the CySEC, the FCA, and ASIC provides it with an edge over other platforms and it accept United States sign ups.
The two unique features of this platform are copy trading and copy portfolio. The former allows users to copy trades or trading strategies of other successful traders on the platform, while the latter will enable users to directly copy others’ portfolio allocation. It has a popular investor program that helps traders to generate income by being copied through the above-mentioned features.
To buy LRC in eToro, the minimum investment required is just $10. One can purchase cryptos in fractions as well. It is denominated in USD, hence if you are depositing money in any other currency, a conversion fee must be paid. US residents are not charged any deposit fee.
Also, a nominal rate of 1% is charged for buying and selling cryptos, which is very low as compared to other platforms. The fee is added to the market price.
eToro provides its clients with free insurance giving coverage of up to 1 million Euro, GBP, or AUD. There is no need to register separately for the insurance plan.
The platform has an online trading academy that provides useful resources to its users to learn the nuances of trading and investing.
Cryptoassets are a highly volatile unregulated investment product.
2. Coinbase – Platform Used by More Than 89m Users
Coinbase is one of the largest platforms operating across more than 100 countries. Its current userbase is more than 89 m. The platform is operated by the United States Coinbase, Inc., which is licensed to engage in money transmission in most U.S. jurisdictions.
It is also registered as a Money Services Business with FinCEN. These regulations mandate it to comply with all applicable laws and regulations applicable in the jurisdictions in which it operates.
The platform has advanced security features in place to safeguard users’ holdings and personal information. It offers Hosted Cryptocurrency Wallet service free of cost. It can be used by users to store their cryptos in cold storage directly on their devices.
The fees of Coinbase are comparatively on the higher side, which is a major downside. 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/
Coinbase facilitates the staking of assets in a third-party proof-of-stake network via staking services provided by Coinbase The rewards of staking are determined by the protocols of the applicable network. Coinbase deducts a flat 25% commission on the rewards before crediting them to the users’ accounts.
The minimum amount needed to buy cryptocurrency on Coinbase is $2.
Cryptoassets are a highly volatile unregulated investment product.
3. Binance – Most Known Platform in the Crypto World
Binance popular among traders and has a huge trading volume. 
It is a user-friendly platform, enabling the easy buying and selling of cryptos – offering over 600 cryptocurrency assets.
Whether you are looking to short or long Loopring, Binance is a platform that can consider because of its advanced technical analysis. These technical features come in handy for experienced traders for executing successful and profitable trades. The platform also facilitates options and futures trading.
Binance has in place robust security mechanisms including Secure Assets Fund (SAFU) to safeguard user funds. It has become one of the safest exchanges to buy LRC or any other crypto online.
Another reason for choosing Binance as your trading platform is its competitive fee structure. It charges a 0.1% maker / take fee. It has a higher fee in case you use debit/credit cards for deposits. This basically amounts to a 2% transaction fee for all Visa and MasterCard options while adding funds. The minimum deposit in the case is $20. The minimum trade is $10.
Binance offers various income opportunities to its users. Its flexible savings and locked savings feature enable traders to earn interest on their crypto holdings. The Binance Earn program offers dozens of crypto financial products to help you earn additional income on your holdings.
Cryptoassets are a highly volatile unregulated investment product.
What is Loopring?
Loopring is an open protocol developed with the aim of building decentralized crypto exchanges. It also allows users to create a non-custodial, order book-based exchange on the Ethereum network using zero-knowledge proofs (ZKPs).
The Loopring project was founded by Daniel Wang in 2017 with the goal to scale up decentralized exchanges to make transactions therein faster and cheaper. It was launched in August 2017.
Loopring (LRC), the native utility token of the Loopring protocol, is an ERC-20 token built on the Ethereum Blockchain.
Loopring uses a form of cryptography, known as the zero-knowledge rollups or zk rollups. It is a layer 2 scalability solution. It facilitates faster validation and settlement of transactions while keeping gas prices at a very nominal level.
The zk-rollups enable Loopring exchanges to execute most of the operations, including trade and settlement anywhere besides the Ethereum Blockchain. As such, the Loopring exchange can submit less number of transactions to the Ethereum blockchain.
Few Ethereum transactions imply faster and cheaper for investors. The zk-rollup also ensures 100% user control on the assets.
Should You Invest in Loopring?
It is a known fact in the crypto world that users have to incur ‘high gas fees’ when using Ethereum. This has left users searching for alternatives such as Cardano and others.
This is where exchanges such as Loopring L2 would be beneficial. As per the info mentioned on their website, users could trade cheaply and speedily without worrying about the Ethereum congestion and gas fees.
A thing to note is there is no compromise of security at any point of time and users could be confident about the safety. This is just an overview of the several functionalities offered by Loopring L2. We suggest visiting their blog section to read several well-curated articles written by them.
Cryptoassets are a highly volatile unregulated investment product.
Risk of Buying LRC
Given below are a few risks associated with buying Loopring, which must be considered by every investor:
- Being a relatively new token, it is still considered to be very volatile.
- Despite numerous price predictions, the future of the token cannot be surely determined.
- Before buying this token, it will require a significant amount of research and analysis to avoid financial losses.
Loopring Price
The LRC price today is trading around $0.50 – $0.55 with a 24-hour trading volume over $300 million.
CoinMarketCap ranks LRC the #69 largest crypto by market capitalization – the LRC market cap is $710 million with a circulating supply of 1.33 billion – 97% of its max supply is unlocked, which should be bullish for the LRC price.
Loopring price history via CoinMarketCap
The 2022 yearly open was $2.08, compared to a 2021 open of $0.17 – despite the recent crypto market correction, largely caused by Bitcoin retracing from $69,000, Loopring is in a long-term bull market.
The 2021 low was $0.17 compared to $0.32 in 2022 – almost 100% higher. Loopring may have bottomed in May 2022 after the LUNA crash and Bitcoin losing the $30,000 level – even the best cryptos can drop before rallying to new highs.
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.
If the LRC price can find support on that EMA again – as it did before its bull run in late 2021 – then breakout back above $1 the next resistance level would be $1.35, its March 2022 monthly high.
LRC price chart – 21 weekly EMA
Currently the crypto market is volatile with BTC still around $30,000 and US stocks selling off, causing panic amid rising inflation and recession fears. 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.
If LRC can close a weekly candle above $2.50 there’ll be little resistance left to the upside and it could easily enter price discovery and set a new all-time high above $4 – $5.
Ways to Buy Loopring
You could invest in Loopring in several ways. Read ahead as we give a brief description of each one.
Buy LRC with Credit or Debit Card
Many investors buy crypto directly with their bank cards. This is one of the fastest ways of purchasing crypto but might depend on your bank. There may be extra fees when choosing to buy crypto with a credit card.
Buy LRC with PayPal
Crypto Platforms such as eToro allow users to buy LRC with PayPal. This is one of the safest ways to invest in cryptocurrency and widely prevalent in many countries.
Buy Loopring Without ID
Platforms such as eToro require users to submit their ID to buy cryptocurrency. This is because they are regulated by financial authorities internationally.
If you don’t wish to submit your ID, Changelly and ByBit could be suitable options. Although there are some restrictions for users who don’t pass KYC, such as lower daily withdrawal limits.
Best Loopring Wallet
Keeping cryptocurrencies with the exchanges may not be a good idea. Your tokens may be at risk of being lost in case of any data breach or malware attack.
This is why it is suggested to use Crypto wallets, whether physical or online, to store your cryptocurrencies. The free crypto wallet on eToro, and the Binance Trust Wallet are reliable options for security and safety.
eToro wallets support more than 120 cryptocurrencies and have an insolable private key along with free recovery service. All these features are a must in any wallet you opt for.
Cryptoassets are a highly volatile unregulated investment product.
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 a beginner friendly interface and the account creation process is simple – you will be redirected to a form, where you have to fill in details such as your name, email and you can choose a password.
Step 2 – Complete the KYC Process
As eToro is a regulated crypto platform with high security, users need to verify their identity before making a withdrawal.
You could use a scan of any government-issued ID alongside proof of residence such as a utility bill.
Step 3 – Deposit Funds
To buy Loopring crypto or another of the 60+ coins on the platforms, first deposit fiat currency.
The minimum deposit is $10 and eToro accepts a wider range of payment methods than other crypto platforms including Paypal to buy cryptocurrency.
Step 4 – Buy Loopring
Searching ‘Loopring’ in the top search bar and click on the search result.
Along with charts, eToro also provide research data into the Loopring tokenomics and project, and access to a social feed where investors can read the opinion of others buying Loopring and gauge the market sentiments.
Cryptoassets are a highly volatile unregulated investment product.
Conclusion
The fact that Loopring has proactively joined other exchanges indicates its intention to increase liquidity. It has been highly regarded by many crypto experts as its lowest-order price-matching feature is useful in eliminating crypto market arbitrage.
The Loopring protocol can easily accommodate various other exchanges, and it has the edge over other platforms for this reason. From a fundamental analysis and tech standpoint you want to invest in LRC if you think features like ring-matching and ring orders will take the traditional trading experience to the next level.
From a technical analysis standpoint LRC is also likely undervalued, now it’s back at around the $0.50 price range. The eToro platform can help you answer questions like ‘should I buy Loopring now’ – as a social trading platform it enables you to bounce ideas off other traders and see how much interest there is any crypto asset at a certain time.
eToro - Regulated Crypto Platform
- Copy Trading Tools - 30.4% ROI Last Year
- Free Demo Account, Crypto Wallet
- Open to US & Worldwide - Accepts Paypal
- Staking Rewards, Educational Courses
FAQs
Where can I buy Loopring?
Is Loopring a good investment?
Is Loopring safe?
Can Loopring reach $10 in the next five years?
Is LRC available on eToro?
Is LRC available on Binance?
Is LRC available on Coinbase?
Read More: Loopring Price Prediction
12 Best Cryptocurrency to Invest in 2022
Most Undervalued Crypto to Buy
This article was written for Business 2 Community by Patrick Jennings.
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