Where to Buy Loopring (LRC) Token? Everything You Need to Know

Where to Buy Loopring (LRC) Token? Everything You Need to Know

By Nek1d | How to Buy? | 26 Jun 2020


For this post, we are looking at the best cryptocurrency exchange to trade and buy Loopring (LRC) tokens. 

As the DeFi hype continues, Loopring is undoubtedly setting the stage for something serious, and as publishers at Publish0x, we already love it! 

With this in mind, let’s take a look at what you need to know before you buy LRC tokens. 

What is Loopring?

Loopring allows everyone to build non-custodial, high-throughput, and orderbook-based exchanges on the Ethereum network, using Zero-Knowledge (zK) Proofs. 

It’s an audited, non-custodial, and open-sourced protocol. This means that nobody in the entire ecosystem needs to trust any of the other parties. The cryptocurrencies are under the control of the users throughout all of the time, while the Ethereum-level security is there to guarantee stability. 

Loopring is capable of powering highly scalable decentralized exchanges (DEX) by batch-processing a large number of the requests off-chain, using verifiably correct execution through ZKPs. 

In addition, Loopring performs most of the operations off the Ethereum blockchain, which dramatically reduces the overall settlement cost and gas consumption. Did anyone say affordable?

What is LRC Token? 

The LRC token is the native cryptocurrency of the Loopring ecosystem. All LRC holders can stake it to earn part of the protocol fees that are paid by, get this, ALL exchanges that are built on top of Loopring. Pretty cool business model, no? 

70% of the protocol fees are rewarded to the stakers, while 20% of them will be used to fund the Loopring DAO. 10% of the fees will be burned. 

If you want to stake LRC, you’d have to do it for a minimum of 90 days. You will also earn the LRC that’s levied from DEX owners as spin-up costs. 

Why Buy LRC?

Of course, that’s not financial advice in any way. You should always do your own research and invest money that you can afford to lose. 

However, I personally find LRC’s value proposition appealing. My reasons are fairly simple. 

  1. DeFi is booming and Decentralized Exchanges (DEXs) are a core component in the entire concept. Loopring is a reliable, reputable, and established protocol that came in relatively early and has a certain advantage. 
  2. You can stake LRC. Staking has become VERY hot lately, mainly because it allows you to earn a passive yield on your holdings. That’s as compelling as it gets. 
  3. It’s currently very discounted (in my opinion). LRC trades at around $0.08 at the time of this writing and sits on a total market cap of $100 million. This is FAR below the token’s all-time high of $2.59 on January, 2018 and with what’s going on with DeFi recently, I think it presents a good buying opportunity. 

Where to Buy LRC Tokens?

You can buy LRC tokens using the world’s leading exchange, Binance. If you don’t have an account yet, you can create one using this link

This is my referral link and if you use it, you will get 10% of your trading fees back every single hour. Also, it would help me a ton!

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Disclaimer: None of the above content is to be considered financial advice. Everything written here is for informational purposes only. Always do your own research when investing in cryptocurrencies and always invest an amount that you can afford to lose. Buying and selling cryptocurrency carries a significant risk of capital losses.

P.S. For the next post, I'll be looking at the all-so-popular Compound (COMP) token, so stay tuned and if you like the content, please hit the follow button :)




Nek1d
Nek1d

I just wanna write and stack.


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