Buy Loopring
in Estonia

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.

Estonia was among the first countries that legalized cryptocurrency and related economic activities. It was in November 2017 when a law was introduced that accepted cryptocurrency as a payment method to keep up with the development of technology. Therefore, activities such as mining, crypto investment, adding cryptocurrency to a company balance sheet, and even establishing a cryptocurrency exchange or wallet are allowed in this country.

According to the Estonia Tax and Customs Board, cryptocurrency trading contains taxes in Estonia. People who buy cryptocurrency should pay tax in case of trading, converting to fiat, or paying the crypto to purchase something. They should declare all the transactions they have with cryptocurrency because the income from mining or trading any crypto is considered the business income of a person, which is included in the tax rules in Estonia.

The tax report should be declared once a year in March. Generally, if you keep the cryptocurrency as an investment and don’t do anything to it, you won’t need to pay taxes. For example, if you have kept the coins in a wallet for the whole year, you won’t need to mention it in your tax report.  Only the profit you gain from selling or trading crypto is taxed. However, if you sell crypto at a lower price than you bought, you won’t need to pay tax for it. Only the profits from selling crypto are reported. Therefore, even if cryptocurrency assets are not tangible assets like a car or a house, that doesn’t bother tax authorities. The tax rate is 20% in Estonia.

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 can buy cryptocurrency in Estonia. Since cryptocurrency is taxed in Estonia, buying it requires you to prepare a couple of things including a passport or a national ID, a mobile phone to verify your identity, a bank account to make fiat currency deposits, and a crypto wallet to store your assets. However, that may depend on the exchange you use. Exchanges in Estonia ask you to verify your identity and address as part of the Know Your Customer (KYC) process. You can buy cryptocurrency anonymously too, but you should use other exchanges that might not be as user-friendly or secure as the ones that have been verified legally.
One secure and user-friendly way to buy cryptocurrency in Estonia is via Blocktrade exchange. This exchange doesn’t have any trading fees, and you can find a wide range of cryptocurrencies to buy here. You only need to sign up on the website, verify your account, and then start buying coins.