How To Buy Loopring (LRC) Coin In The USA

Last Updated May 6th 2022
10 Min Read

Decentralized exchanges have been around since 2015 with most of them being built on Ethereum's blockchain, including Uniswap, Compound, Pancakeswap, and several others. While these platforms enable people to trade without intermediaries, they face a lot of issues that need to be addressed. One of the fundamental problems is scalability, that is to say, the number of transactions that can be verified per second. Loopring cryptocurrency seeks to handle this issue and provide more secure, scalable, and cost-effect decentralized trading.

The native cryptocurrency of the Loopring blockchain is the LRC coin which is available to buy on various platforms. But before you invest in Loopring, you will need to get familiar with this cryptocurrency and learn about its plans, advantages, and disadvantages.

Read on to discover what Loopring is and what are the best platforms to buy Loopring coins in the USA. 

How To Buy In Loopring In The USA – Quick Guide

To help you buy Loopring coins as quickly as possible, we broke the process down into a few easy steps:

  • Step 1: Open an account with eToro – Head to eToro’s website and click join now to open a new account.
  • Step 2: Verification – By uploading essential documents that show proof of identity and home address, you will get your account verified in a short time. 
  • Step 3: Deposit – Fund your new eToro account with a minimum of $10. 
  • Step 4: Search for Loopring on eToro – Search for LRC or Loopring in the eToro crypto market.
  • Step 5: Buy LRC – Enter the amount of the worth of Loopring you want to purchase in United States Dollars (USD), then click Open Trade. 

That’s it! By following these easy steps, you can invest in Loopring in the USA in less than 5 minutes.

 

buy Loopring

Where To Buy Loopring (LRC) Coin In The USA - Best Brokers And Exchanges

Are you looking where to invest in Loopring in the USA? You’re in the right place. In this section, we will inform you about the best exchanges and places to buy Loopring in the USA. 

Here are the best exchanges to buy Loopring (LRC) coins in the USA that we have chosen after doing a thorough analysis of several platforms.

  • eToro - Best platform to buy Loopring (LRC) in the USA
  • Binance - Best exchange to buy LRC in the USA for asset diversity
  • Coinbase - Best place to buy Loopring (LRC) for beginners
  • OKEx - Best site to buy LRC in the USA for low-cost

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What Is Loopring Coin?

The Loopring blockchain is a Defi project that seeks to bring upgrades in the industry of decentralized exchanges. It claims to tackle one of the biggest problems in the market - scalability, and according to the Loopring website, the network can transact 2025 contracts in a second. For comparison, Ethereum can handle around 30 transactions on its network.

Loopring was founded in 2017 by software engineer Daniel Wang who previously worked for Google and JD.com. Loopring isn’t simply an exchange - though it provides one - but a platform where everyone can build their DEXs and enjoy fast and cheap transactions. To bring it into reality, Loopring uses Ethereum’s project and quite a new technology called zero-knowledge Rollups which allows verifying transactions outside of the Ethereum blockchain thus increasing their speed and decreasing fees. 

How Does Loopring Coin Work And What Affects Its Price?

Loopring issues two native cryptocurrencies to power its network which is known as LRC and LRN. The first one is an ERC-20 token and works on the Ethereum blockchain, the second one uses Neo-blockchain, Loopring thinks of issuing more coins in the future and LRQ is one of the currently planned tokens which will use Qtum blockchain.

Currently, LRC is the most popular Loopring coin which is also a tradable asset to buy and sell for generating interest. LRC is a utility token meaning that it is used within the Loopring platform to pay for transaction fees, to build decentralized exchanges, and to stake and get rewards. One cannot use Loopring’s platform without having LRC coins which means that LRC coin demand will increase along with the adoption of Loopring’s network. Definitely, the high demand for LRC will positively affect its value. 

Read Also: Best Methods On How To Earn Loopring (LRC) Coins Fast

Is Loopring Coin A Buy Right Now?

Loopring is an excellent investment now as it is not a speculative asset but a cryptocurrency project with strong goals and a good perspective. The ICO of Loopring’s LRC coin was conducted in 2017 and it raised a capital worth $45 million but the team had to return some of the money due to the strict crypto regulations in China. 

The cryptocurrency was initially traded at around $0.07 and it had some ups and downs in the market hitting an all-time high of $3.3 at the end of 2021. Currently, it is traded at $0.7 which is around 10 times higher than its initial price. But Loopring is still in the development process meaning that it has a lot of growth potential in the future. 

Loopring price chart

Loopring price chart, Source: coinmarketcap.com

One of the good things about the coin is that the team burns 10% of the Loopring coins that users lock in to build decentralized exchanges on its network. It means that the number of LRC coins is decreasing over time. So, if the supply of the coin decreases and the demand increases its value will grow according to the demand and supply law. 

How To Buy Loopring Coin Online In The USA - A Step by Step Guide

If you are interested in buying Loopring coins, you need to start finding a reputable platform that operates in your country. Our research, during which we analyzed multiple brokers, indicates that eToro is one of the best platforms to buy Loopring in the USA. Here is a short review of this broker and its functions.

eToro stands out with the versatility of the assets it supports - you can trade hundreds of stocks, foreign exchange, commodities, and cryptocurrencies with this broker paying zero commissions and low spreads. The broker supports more than 60 coins and tokens meaning you can not only invest in Loopring here but diversify your crypto portfolios by purchasing several other popular crypto assets. 

The broker is beginner-friendly and has an easy-to-use interface and simple design which attracts millions of users to its platform. eToro provides an exceptional trading experience with its outstanding social trading platform. The latter not only provides space for discussions, news and questions but also helps to copy the expert traders’ portfolios with just a click of a button. 

Step 1: Register for an Online Account and Deposit Funds

After you select a cryptocurrency exchange where you want to buy a Loopring coin, start with registering for an online account. In this process, you will be required to provide some details about yourself, create a username and password and go through the different levels of verification. 

The verification requirements may differ from platform to platform but in general, brokers require that you undergo email, phone number, identity, and address verifications. Once you are verified, you can deposit money using one of the billing methods available on the platform. 

Step 2: Buy Loopring Coin

As long as your account is verified and charged you are ready to invest in the Loopring coin. Type LRC in the searching field and click on the “Trade” button to open the buying window. Fill in the number of LRC coins you want to purchase and complete the transaction. If the broker approves it you will see that coins are transferred into your account after a short time. 

Step 3: Transfer Your Funds to a Hardware Wallet

After you get your coins you can either keep them on your exchange account or transfer them to a decentralized wallet. A hardware wallet is the safest storage for your assets as they keep your coins offline. However, these wallets are recommended if you need to store a huge amount of cryptocurrencies for a long period, otherwise keeping them on an exchange account or using a software wallet can also be excellent options.

buy Loopring

How To Trade Loopring Coin In The USA - A Step by Step Guide

At the time of writing, the Loopring coin is traded at low prices which makes it an efficient trading asset that you can invest in low amounts and generate good rewards. Here is how you can start trading Loopring. 

Step 1: Register for an Account and Verify It

The first step is definitely about signing up for an online account as you cannot trade if you are not a registered user. Registering for an account is a quick process that you can complete in some minutes. Then comes the verification process in which you must provide the required details to prove your identity and address. 

Step 2: Deposit Money in Your Account

To purchase Loopring you need to have some money in your account which you can deposit through multiple methods. Select a payment method corresponding to your requirements and provide the details about it to finish the contract. Once your funds are in your exchange account you can buy the first coins. 

Step 3: Develop a Trading Strategy

Creating a trading plan is not a mandatory step but it’s necessary if you want to experience efficient trading and reduce the risks. You need to build a trading strategy based on careful research to avoid leaving and taking positions spontaneously. You can adopt either a short-term or a long-term strategy depending on your time, budget, and preferences. 

Step 4: Start Trading Loopring Coin

With a fully verified and funded account, you can start trading Loopring coins. To make your first purchase, browse to find the LRC coin and fill in the number of the coins you want to buy. 

trade Loopring

Loopring Coin Advantages And Disadvantages

If you are still not sure whether Loopring is a buy for you right now or not, here are the advantages and disadvantages of the cryptocurrency that can help you in making a smarter decision. 

Advantages:

  • Loopring provides a network that can be used for building decentralized exchanges. 
  • DEXs built on Loopring’s platform are able to run faster and cheaper transactions.
  • You can stake LRC coins and get rewards for that.
  • Loopring destroys 10% of the coins at times so its supply decreases. 
  • LRC has multiple use cases within the Loopring ecosystem. 

Disadvantages:

  • Loopring is not the only popular DEX in the industry: it has a lot of competitors. 
  • The project has to undergo a lot of development to prove its technology.

What Is Loopring Coin Price Prediction?

Loopring’s price predictions conducted by different platforms consider Loopring quite a profitable investment. For example, Wallet Investor's predictions indicate that the long-term earning potential of the LRC coin in one year is +89.59%. According to the Wallet Investors, its value can increase to $1.414 in one year, and in 2027 it can reach $4. 

The predictions made by the Digital Coin Price foresee lower prices for the next few years. It indicates that Loopring will keep its value below $1 on average, but next year it will hit $1 and be traded above it until 2028. The Price Prediction has almost the same predictions as the Wallet Investor except that it shows Loopring will hit $4 sooner than 2026 and it will hit $10 in 2028. 

Year Minimum Price Average Price Maximum Price
2022 $0.95 $0.99 $1.12
2023 $1.41 $1.46 $1.65
2024 $2.00 $2.06 $2.49
2025 $3.01 $3.11 $3.48
2026 $4.37 $4.52 $5.28
2027 $6.32 $6.51 $7.70

 

Don't Miss: Loopring (LCR) Price Predictions

How Do I Mine Loopring Coin In The USA? 

The Loopring project relies on the Ethereum blockchain meaning that LRC is an ERC-20 token and works on the Proof of Stake mechanism. It means that to get rewards you need to lock the required amount of LRC coins in the liquidity pool and benefit the network’s security. Visit Loopring’s blog to get a more detailed explanation of how to stake and unstake LRC coins. 

What Is The Total Supply Of Loopring Coin?

Loopring’s market capitalization at the time of writing is slightly lower at 1 billion. One LRC token is traded at $0.7449 and there are 1,329,788,611 LRC coins in circulation now. Hence, Loopring’s market cap is equal to $991,432,629 which makes it the 76th largest cryptocurrency among thousands of others. The maximum supply of LRC is 1,374,513,896 LRC coins, so more than 95% of the coins are already in circulation.

Things To Consider Before You Invest In Loopring Coin In The USA

In a nutshell, Loopring is a promising cryptocurrency project that can bring you good returns as a long-term investment. Additionally, it is a volatile asset meaning that you can benefit in the short-term perspective too if you guess the right buy and sell signals. However, before investing in any cryptocurrency, you should do your own research. 

If you have explored Loopring in detail and think that DEXs can become massively adopted in the future, you can buy some LRC coins. Still, always make sure that you are investing what you can afford not to end up losing the capital that you will need later. Loopring is traded on several major exchanges, so to buy Loopring coins in the USA, visit the broker and create an account.

eToro – The Best Platform To Buy Loopring In The USA

Virtual currencies are highly volatile. Your capital is at risk.

FAQs

What is the purpose of the Loopring coin?

Loopring is a Layer2 Ethereum-based platform that supports developing DEXs. The platform integrates zkRollups technology to solve the scalability issue and allow faster and cheaper transactions on its network. 

What is the best platform to trade Loopring coin?

To have a good trading experience, you need to select a trustworthy and cost-effective trading platform. Our research indicates that eToro and Binance are among the best platforms to buy Loopring coins in the US. 

How can I buy a Loopring coin in the US?

To buy a Loopring token you must register for an online account with a cryptocurrency broker, deposit funds on your profile, and purchase the number of Loopring coins you can afford to buy.

What is the market cap of Loopring cryptocurrency?

Loopring has a market cap of more than $991 million and it is included among the 100 largest cryptocurrencies in the industry by its market capitalization.

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