LRC cryptocurrency

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21.12.2021 09:37
LRC cryptocurrency

    The project began its active phase in 2017, but it had been developed before. Loopring is an automated decentralized platform created on the basis of the Ethereum blockchain.The goal of the project is to create a platform for token exchange. The cryptocurrency LRC is the token of this platform.

    General information and features

    The ICO (initial coin offering) of the project took place in 2017, according to the results of which the team managed to raise $45 million in tokens. There were 12,000+ contributors, which shows that the team was already popular enough at the time of the crowdsale.

    Prerequisites for the emergence of the platform:

    1. Centralization of most platforms.
    2. Existence of exchange risks related to fraud.
    3. Intermediaries increase fees for cryptocurrency exchange transactions. 
    4. Government regulation, as well as the threat of account blocking.

    The project has implemented a management platform with a smart contract, which creates favorable conditions for the exchange. At the same time, even if the counterparty's wallet is frozen, the user will still be able to control funds under the terms of the smart contract.

    The use of blockchain technology protects users of the website from hacker attacks. The cryptocurrency LRC is the token of this platform. At the same time, the developers pay a lot of attention to the potential of integration with existing banking organizations.

    In addition to the exchange platform, Loopring offers the capacity to create and launch projects in the same way as Ethereum and other networks do. 

    At the same time, Loopring is compatible with most popular blockchains, which extends the project's potential. The creators invite developers to work on new decentralized exchange platforms.

    Where can I use Loopring LRC cryptocurrency?

    The tokens of this project can be used for the following purposes:

    1. Work within the platform. Loopring cryptocurrency is used to implement various functions in order to create new projects, as well as to launch their own ICO.
    2. Speculative operations. You can buy, exchange LRC cryptocurrency in order to sell it later at a favorable price.
    3. Long-term investments. The token can be purchased for a period of one year or more for purposes of profit from long-term growth. The maximum value of the cryptocurrency exceeded $3, while now the price is below $2.5.

    As for the use of Loopring coin as a means of payment, it is not possible at the moment, because the token is not accepted for payment by online stores. However, in the case of more interest from the cryptocurrency community, this may become possible in the future.

    Prospects for LRC cryptocurrency

    The Chinese project has a strong competitor - 0x. Nevertheless, the areas of activity are somewhat different. The latter is more focused on the creation of decentralized exchanges and applications, and Loopring is considering the ICO and token exchange.

    It is worth noting that the difference in directions between the platforms is still not great, so in the future both platforms (0X and Loopring) may closely compete with each other. The plus side of this is that in the face of fierce competition, both projects will develop more actively.

    Summary 

    Given the interest in decentralized projects, Loopring's potential is high:

    1. The team has chosen an interesting and profitable direction, given that more and more companies are emerging that want to develop within the blockchain framework. 
    2. The current Loopring LRC rate is quite far from the maximum values, which opens up interesting prospects for both trading and long-term investments.

    Where and how to buy LRC

    You can buy Loopring cryptocurrency on the Broex platform. This platform is a reliable and safe way to work with various tokens. Broex.io is registered in the European Union and is licensed by the local regulator to work with financial assets and cryptocurrencies.

    Number of instruments

    Broex offers more than 600 different cryptocurrencies available on the Binance platform. This was made possible by a strategic agreement between the two sites. Broex.io users can send a request to the administration to add any cryptocurrencies available on Binance.

    Simplicity and accessibility

    Unlike professional trading platforms, it is possible to buy, exchange, sell or withdraw LRC cryptocurrency in just a few steps. To do this, the site has implemented a simple interface. It's enough to choose the appropriate token and enter the necessary amount.

    Deposit to Broex.io account can be made with credit and debit cards, and through electronic payment systems popular in the CIS countries. In addition, you can deposit funds in the cryptocurrencies available on the website.

    Reliable storage

    In addition to exchange transactions, Broex users can securely store cryptocurrency and fiat money. Cold wallets are provided for tokens. They are stored on special servers disconnected from the Internet. This approach gives an opportunity to protect coins from hackers. 

    As for fiat money, according to the protocols in force in the European Union, all customer funds are stored on a separate loop. The site team has no access to it.

    Conclusions

    The Broex platform offers a convenient way to exchange tokens. Advantages are favorable fees, speed of transactions, reliability, and security of cryptocurrency and fiat money. The platform is regulated in the European Union. In addition to exchanging tokens, you can invest in ready-made strategies.

     

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