A Step-by-Step-Guide on how to buy Loopring (LRC)
Step 1 – Signup to CEX.io In the beginning you'll need to buy units of the major currencies. Exchanges commonly accept either ETH (Ethereum) or BTC (Bitcoin) in exchange for Altcoins. Click the button below to register and to get your ETH (Ethereum) or BTC (Bitcoin).
Step 2 – Transfer Your Funds to an Crypto Exchange Your BTC (Bitcoin) or ETH (Ethereum) will need to be sent over to an Crypto Trader now. Every exchange has a deposit form that is similar. Loopring (LRC) is obtainable on Binance, so we will use that as an example. Not sure on how to send Coinbase funds to an Exchange? (Just follow these easy steps) Make sure you've chosen the correct coin you wish to deposit. Bitcoin must be sent to a Bitcoin deposit address, ETH to an ETH deposit address, etcetera. If you are working with a decentralized exchange, such as Airswap or DDEX could be different (Follow our guide).
Step 3 – Locate Loopring (LRC) Once your deposit has been approved, you will instantly have access to your assets and you can begin purchasing and trading. To invest in Loopring (LRC) on Binance, you will want to hover over the ”Exchange” tab and then click on “Basic”. In order to discover Loopring (LRC), you'll need to put the cointype (LRC) into the search box, which is marked in the image. Make sure you have choosen the right pairing, we've marked this too. Click on “LRC/BTC” to continue.
Step 4 – Acquisition of Loopring (LRC) As soon as you've found Loopring (LRC), you'll be presented with a Chart with Prices (in the Center of the picture) and a few Order Books (Leftside of the picture). For now we're creating our own Limit Order. The field with the “Price” tag will be automatically filled with the most recent valuation Loopring (LRC) was sold for. You can change this to your desired price. The field with the “Amount” tag is the quantity of LRC you like to purchase. The field with the “Total” tag is the total price in Bitcoin that you will settle for the complete amount of LRC. If you're satisfied, click on “Buy LRC”. Your plan will be filled when a Vendor trades their LRC for the price you introduced.
Step 5 – Withdraw Loopring (LRC) Unless you're regularly trading, best advise is not to keep coins on an Exchange for an extensive period of time. To withdraw your Loopring (LRC), go to the tab called “Funds” and mouse click on “Withdraw”. Loopring (LRC) can be stored securely using a Wallet, for example MyEtherWallet. (MyEtherWallet Setup Guide) Locate Loopring (LRC) by using the provided drop-down box. Put into the amount of Loopring (LRC) you'd like to withdraw. Don't forget the presented fees/minimums. Also make sure you have filled your precise withdraw address. When you're happy, click on “Submit”. You may be asked for verfication via email/phone before a take off.