Buy Loopring
in Canada

LRC was released in 2017 with an initial price of $0.05. It started 2018 with a surprisingly high price of
$2.59 but quickly fell to $0.25. This token was almost asleep for two years because its price didn’t
change significantly until 2021, when it set a record all-time high price of $3.81. However, it recessed
again and dropped to $0.21 at the end of 2022.
It is common for people who want to buy a coin to be curious about its future, especially for investment.
However, the future of cryptocurrency is not predictable. But you can read about price predictions
because these are the analyses that experts in this field have done. Therefore, the LRC price prediction
can give you a hint about the probable fate of this coin. Crypto analysts think the LRC price would go
higher than $1 in 2026 and might continue to grow and reach $3 by 2030. Considering these predictions,
it might be better to think about LRC as a long-term investment.

Loopring is a decentralized exchange (DEX) based on Ethereum that launched in 2017. It is considered
the second layer solution of Ethereum called Loopring L2, which allows users to do their transactions
with higher speed and lower fees compared to Ethereum. Loopring L2 is more than a decentralized
exchange, it acts more like a payment software that allows users to send their ERC-20 tokens to any
Ethereum address quickly, securely, and with lower costs. The Loopring users can also create new
exchanges on this protocol.

Yes. According to the Canada Revenue Agency (CRA), virtual currency is a digital asset that can be used to buy and sell goods or services. According to the definition of virtual currency provided by the Financial Consumer Agency of Canada, digital currencies can be used to buy goods and services on the Internet and in stores that accept digital currencies. Digital currency may also be bought and sold on cryptocurrency exchanges. It is estimated that 1.2 million people, 3.2% of Canada's total population, currently own cryptocurrency.

Yes. According to the Canada Revenue Agency (CRA), tax rules apply to digital currency transactions, including those made with cryptocurrencies. Using digital currency does not exempt consumers from Canadian tax obligations. This means digital currencies are subject to the Income Tax Act. According to the mentioned rules, you will pay Income Tax on half of any crypto asset gains from dispositions of cryptocurrency, as well as Income Tax on any additional income from crypto assets, like staking or being paid in cryptocurrency. As stated by the CRA, you will pay Income Tax on half of any crypto gains from dispositions of cryptocurrency, as well as Income Tax on any additional income from crypto activities, like staking or being paid in cryptocurrency.

LRC is mainly used on the Loopring protocol for creating decentralized exchanges. It doesn’t have any
uses outside of this platform yet. However, it might be consumed for purchasing things in the future.
But right now, it is very useful for developers on the blockchain.
Like other cryptocurrencies, LRC can be a good investment too. You don’t need to consume your coins
on the Loopring protocol, you can buy LRC and keep it until its price gets higher. For this purpose, you
need to choose a secure wallet to keep your tokens in a safe place for a while. Furthermore, since the
cryptocurrency world is so volatile, it is better to read more about LRC and its predictions. If you are a
beginner in this world, start with a minimum amount of money and choose an exit point for your
investment so that you will not lose your money.

Anyone. Two common ways to buy cryptocurrency in Canada include either through a broker or directly through an exchange. However, brokers may put restrictions on holdings, withdrawals, transfers and storage depending on their brokerage policy while cryptocurrency exchanges give the account holder more control over their crypto assets. Our exchange allows fast and secure cryptocurrency transactions through different payment services such as: Apple pay, Google pay, Credit Card, Debit Card, Bank Transfer and PayPal, which are supported in Canada. Also, our exchange charges zero transaction fees.