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Learn More about buying LRC in Indonesia
How to buy Loopring in Indonesia
Is LRC a good investment in Indonesia?
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.
What is Loopring ?
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.
Check out Loopring official website for more information.
Is Loopring legal to buy in Indonesia?
Yes, it is legal to buy cryptocurrencies in Indonesia but cryptocurrency is not considered an
official form of payment in Indonesia. This is according to The Indonesian government’s
released Working Paper, through which the government along with the Indonesian Central Bank
has recognized the growing market of crypto assets and its usage and has mentioned that it is
monitoring the development of the cryptocurrency industry and may issue further regulations in
the future. As of now (12th of February 2023), the regulation of cryptocurrencies in Indonesia is
limited, and it operates in a somewhat gray area but it is expected to improve further in the near
Is Loopring taxed in Indonesia
Yes. The article regarding cryptocurrency taxation in Indonesia can be found in the Indonesian
Tax Law, specifically in article 25 concerning "taxable income". According to the mentioned
article, cryptocurrency transactions in Indonesia are subject to income tax as they are
considered a form of "other income." According to the same mentioned Article, the taxation rate
for individuals is based on the individual's tax bracket, from 0.5% to 30% and for companies, it
is a flat rate of 20%. This means that individuals and entities who engage in cryptocurrency
transactions, such as buying, selling, or trading, must report their crypto-related income and pay
taxes on it.
Moreover, it is important for individuals and entities who engage in cryptocurrency transactions
in Indonesia to accurately report their crypto-related income and pay taxes on it to avoid
penalties and fines. It is recommended to consult a tax professional for further information on
the specific regulations and obligations for cryptocurrency taxation in Indonesia.
After you've bought Loopring in Indonesia
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.
Who can buy Loopring in Indonesia?
In Indonesia, cryptocurrency can be purchased by individuals and businesses who are allowed
to purchase it by the law. Banks, payment processors, and exchanges are some common and
legal entities that offer services to buy cryptocurrencies in Indonesia. On this note, our
exchange is one of the most secure service providers when it comes to buying crypto assets in
Indonesia. Our exchange is legal and offers you different payment methods to purchase your
intended amount of cryptocurrency while charging you no transaction fees which would be very
cost-effective. Some of the best payment methods that we offer are: Apple Pay, Google Pay,
credit card, debit card, bank transfer, and PayPal.
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Payment methods to buy Loopring in Indonesia
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Frequently asked questions
The Loopring coin (LRC) is available on most exchanges. You can also buy this crypto from the Loopring
exchange itself. However, it would be a good option if you purchase this coin on a more affordable
exchange like Blocktrade. Since you don’t need to pay any processing fee on this platform, it would be
more cost-effective for you to buy LRC on Blocktrade.
In Indonesia, individuals are required to report and pay taxes on their cryptocurrency
transactions. In order to report cryptocurrency taxation in Indonesia you need to keep records of
all cryptocurrency transactions, including the date, amount, and type of transaction. then, it is
necessary to calculate the taxable income from your cryptocurrency transactions using the
appropriate tax rate. Next, file a tax return with the Indonesian Tax Office (Direktorat Jenderal
Pajak) and report your taxable income from cryptocurrency transactions. And lastly, pay the
taxes owed on your cryptocurrency transactions. It's important to note that the regulations
surrounding cryptocurrency tax in Indonesia are constantly evolving, and taxpayers should keep
themselves updated on the latest developments and seek advice from a tax professional if
Yes, you can sell cryptocurrency in Indonesia. However, the regulation of cryptocurrency in
Indonesia is a bit not yet so clear and it is advised to consult with a legal expert before
conducting your cryptocurrency transactions. It is also known that Indonesia allows selling
crypto assets through exchanges and it is supervised by the Commodity Futures Trading
Regulatory Agency (BAPPEBTI), a body under the Ministry of Trade. It is also recommended to
do research before engaging in cryptocurrency sales inside the country.
The loopring is a Chinese-based company founded by a software developer called Daniel Wang.
However, the Loopring protocol was registered in Singapore.
The exact number of cryptocurrency owners is not specifically known, but according to some
data, it shows that around 4.3%, which would be about 11 million of its population, owned some
form of cryptocurrencies.
Loopring is a protocol that makes it possible for its users to create their own exchanges on this network.