How to swap easily your Loopring in Ethereum in 1 minute
The new method of remuneration for tips with the introduction of Loopring - and the consequent lowering of the rewards in BAT - did a lot of discussion within Publish0x.
Many users have complained about the many fees and the difficulty of exchanging Loopring on Dex.io.
In fact, in order to trade on this decentralized exchange, it is necessary to go against different types of commissions that have not been much appreciated by users.
For this reason, today I want to tell you about a method to easily swap your Loopring in less than a minute.
Through the use of TrustWallet it is possible to swap all the tokens that are built on the Ethereum blockchain, including Loopring included.
This is possible thanks to the integration in the Trust wallet of the decentralized exchange KyberNetwork which inside has a technology that allows the easy exchange of tokens on the Ethereum network.
There is no minimum or maximum limit on tokens that we can swap but there is a fee to be paid. Fortunately in this case there is only one and only one fee to pay: in this case it is the network fee to the miners for the swap commission which is however higher than the simple buy / sell on the same platform.
Here are the steps to follow to swap Trust wallet.
1 - We open the Trust Wallet app and go to assets
2 - click on the bottom "Swap"icon
3- Select the token with which we will pay the exchange, in this case Loopring and then select the currency for the payment. In this case, only Ethereum is available for Loopring
4 - We enter the amount to be swapped and we will get a first evaluation of what we could receive in Ethereum
5 - We will then arrive at the last confirmation page where the main wallet is summarized, how many Loopring for the exchange, how many Ethereum we will receive in return but above all the commission and the maximum loss that could occur in this exchange.
6 - congratulations! You have exchanged your Loopring for Ethereum
A few important notes: to make exchanges on Ethereum blockchain on Trust wallet make sure you have at least $ 5 in Eth on your wallet, you will need to pay all the network fees on Ethereum blockchain.
I also recommend that you exchange a minimum 100/200 Loopring for Ethereum otherwise the network fee for the swap would eat all your earnings.
Currently to exchange 20 Loopring there is a commission of $ 1.40 Eth while if you exchange 200 Loopring of about $ 0.44 then better to accumulate some Loopring before exchanging them.
