How to buy Loopring (LRC)?

Loopring (LRC) is a decentralized exchange protocol using zkRollup tech on Ethereum for fast, low-cost trades, with LRC tokens used for fees, staking, and governance.

Aug 10, 2025 at 11:01 am

Understanding Loopring (LRC) and Its Role in the Crypto Ecosystem

Loopring (LRC) is a decentralized exchange protocol built on the Ethereum blockchain that enables high-speed, low-cost trading through the use of zkRollup technology. This Layer 2 scaling solution allows Loopring to batch thousands of transactions off-chain and post a cryptographic proof to Ethereum, drastically reducing gas fees and increasing throughput. The native token, LRC, plays a crucial role in the network’s operation, including paying for transaction fees, staking to operate nodes, and participating in governance decisions. Before purchasing LRC, it’s essential to understand that it is not just a speculative asset but a functional token within a broader decentralized finance (DeFi) infrastructure.

Selecting a Compatible Cryptocurrency Exchange

To buy Loopring (LRC), users must first choose a reputable cryptocurrency exchange that supports the token. Not all exchanges list LRC due to its niche focus on Layer 2 solutions. Major platforms like Binance, Coinbase, Kraken, and KuCoin offer LRC trading pairs. When selecting an exchange, consider factors such as trading fees, security measures, supported payment methods, and user interface. Ensure the exchange operates in your region and complies with local regulations. For instance, Coinbase provides a user-friendly experience ideal for beginners, while Binance offers advanced trading tools and lower fees for experienced traders. Always verify the exchange supports LRC/USDT, LRC/ETH, or LRC/BTC trading pairs depending on your preferred base currency.

Creating and Securing Your Exchange Account

After choosing an exchange, the next step is to create an account. This typically involves providing an email address, creating a strong password, and completing identity verification (KYC). For example, on Binance:

• Visit the official Binance website
• Click “Register” and enter your email and password
• Confirm your email via the verification link
• Proceed to complete identity verification by uploading a government-issued ID and a selfie
  Security is paramount. Enable two-factor authentication (2FA) using an authenticator app like Google Authenticator or Authy. Avoid SMS-based 2FA due to SIM-swapping risks. Store your recovery codes in a secure offline location. Never share your login credentials or 2FA codes with anyone. This foundational security setup protects your LRC holdings from unauthorized access.
  

  Funding Your Account to Purchase LRC

  
  Once your account is verified and secured, you need to deposit funds. Most exchanges support multiple deposit methods:
• Bank transfer (SEPA, SWIFT): Low fees but may take 1–5 business days
• Credit or debit card: Instant funding with higher fees (3–5%)
• Cryptocurrency deposit: Transfer ETH, USDT, or BTC from another wallet to trade for LRC
  For card purchases:
• Navigate to the “Buy Crypto” section
• Select your card and enter the amount in USD or EUR
• Enter card details and complete the payment
  The purchased stablecoin or fiat will appear in your exchange wallet. From there, go to the spot trading interface and search for the LRC trading pair (e.g., LRC/USDT). This prepares you for the actual purchase.
  

  Executing the Trade for Loopring (LRC)

  
  Now that your account is funded, you can buy LRC. In the exchange’s trading interface:
• Search for the LRC/USDT or LRC/ETH market
• Choose between market order (buy immediately at current price) or limit order (set your desired price)
• Enter the amount of LRC you wish to purchase or the amount of USDT to spend
• Review the transaction details, including fees and total cost
• Click “Buy LRC” to execute the trade
  After confirmation, the LRC tokens will appear in your exchange wallet. It’s critical to double-check the ticker symbol to avoid purchasing counterfeit tokens. Only transact on verified trading pairs with significant trading volume to minimize slippage and fraud risk.
  

  Withdrawing LRC to a Personal Wallet for Security

  
  Leaving tokens on an exchange exposes them to potential security breaches. For long-term holding, withdraw LRC to a personal wallet. Recommended wallets include:
• MetaMask: Browser and mobile wallet supporting ERC-20 tokens
• Trust Wallet: Mobile wallet with built-in DApp browser
• Ledger or Trezor: Hardware wallets for maximum security
  To withdraw:
• Go to the “Withdraw” section on the exchange
• Select LRC as the withdrawal asset
• Choose the Ethereum (ERC-20) network
• Paste your wallet’s public address
• Enter the amount and confirm the transaction
  Always send a small test transaction first to ensure compatibility. Once confirmed, the remaining balance can be transferred. Never share your private key or seed phrase. Store it offline in a secure location such as a fireproof safe.
  

  Using LRC in DeFi and Staking on Loopring Exchange

  
  Owning LRC unlocks utility beyond trading. Users can stake LRC to become a relayer on the Loopring network, earning a share of transaction fees. To stake:
• Visit the official Loopring Exchange (loopring.io)
• Connect your wallet (e.g., MetaMask)
• Navigate to the “Stake” section
• Approve the token and enter the staking amount
• Confirm the transaction via your wallet
  Staking rewards are distributed in LRC and vary based on network participation. Additionally, LRC holders can use the token to pay for reduced trading fees on the Loopring DEX, enhancing cost efficiency for frequent traders.
  

  Frequently Asked Questions

  
  Can I buy Loopring (LRC) with PayPal?
  Yes, some exchanges like eToro and PayPal’s own platform allow purchasing LRC using PayPal. On eToro, link your PayPal account, deposit funds, and buy LRC directly. PayPal’s service lets you buy LRC within its app, though withdrawal to external wallets may not be supported.
  

  Is Loopring (LRC) available on decentralized exchanges (DEXs)?
  
  Yes, LRC can be traded on DEXs such as Uniswap and SushiSwap. Connect a Web3 wallet like MetaMask, navigate to the DEX, select LRC, and swap ETH or USDT for LRC. Ensure you’re using the correct contract address: 0xbbbbca6a901c926f240b89eacb641d8aec8cb6e5.

  What are the gas fees when transferring LRC?
  
  Since LRC is an ERC-20 token, transfers require Ethereum network gas fees. Fees fluctuate based on network congestion. Use tools like Etherscan Gas Tracker to monitor current rates. Consider transferring during low-traffic periods (e.g., weekends) to minimize costs.

  How do I verify the authenticity of the LRC token contract?
  
  Always verify the contract address on Etherscan. Search for “Loopring” and confirm the official contract is 0xbbbbca6a901c926f240b89eacb641d8aec8cb6e5. Check for the “Verified” badge and review token holders and transaction history to avoid scams.