I am probably not the only person blogging on Publish0x who is building up a nice little collection of Loopring ($LRC) and while we have been putting our now defunct (on Publish0x anyway) DAI and BAT to work and anticipate working our Ethereum which was added last week. Meanwhile our LRG is nicely growing somewhere in the back corner. The problem is that not every exchange supports $LRC and so while we build up our free crypto we ignore our LRG. It’s free anyway so does it really matter?
This is potentially a waste, especially when $LRC has seen a recent increase in value of upwards of 20%. ChangeNOW offers an ideal and reasonably priced option for converting.
ChangeNOW has been well received, offers a huge range of currencies and scores highly when it comes to trust. Furthermore there are no exchange limits, but it is not available to certain sanctioned countries including the US. Depending on trading capacity and other requirement, as they are still a financial organisation, you may need to fulfil certain KYC (Know Your Customer) and AML (Anti-Money-Laundering) processes to satisfy both legal requirements and internal processes.
It has a clean interface and is user-friendly which only adds to its appeal as many exchanges are quite daunting. I touched on this in a previous post when I compared the appearance of Coinbase vs. Coinbase.pro
The question is what should I do with my Loopring? Should I hold, is it going to turn out to be a shitcoin or something more significant? Despite the recently increase in its value it is still cheap and you can stack up on QUANTITY, but where it goes next is anybody’s guess.
Whatever you do, don’t leave it on Publish0x, no disrespect to Publish0x, but that is like burying money in the garden and probably forgetting where you buried it!
Move it on so you can fuel the next part of your Crypto growth.
So where do I move it to? I would always recommend moving it to somewhere where you can get it working for you straight away or somewhere that has huge growth potential.
The logical options seem to be to:
- Take advantage of staking with such currencies as TEZOs
- Put it in well-established currencies that’s value will only grow as time goes on. Think BitCoin, Ethereum
- Alternatively put it in a low value coin and go for quantity with growth potential being in the main aim.
Those of you who follow me know I am a big fan of TEZOs and I am tempted to dump my $LRC in my TEZOs wallet, but I am going to go for the third alternative and dump all of my LRG in my BAT wallet. If I am wrong I have lost nothing, but if I am right the potential is huge.
BAT currently is priced at £0.20 and just imagine if it increases to just £0.30 that is a 50% increase for nothing and I believe its potential is even greater.
Ok we are past the time of seeing another BitCoin explosion… but its monetary value doesn’t have to increase too much to see a massive release of profits.