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Exchange Review
This exchange has been flagged as inactive. There are many reasons for being flagged as inactive. We recommend you read the text below to understand why Loopring Exchange has received the inactive flag.

Loopring Exchange

Exchange Fees

ETH Withdrawal Fee 0.002 Taker Fee 0.10% Maker Fee 0.00%

Deposit Methods

No Wire Transfer No Credit Card

UPDATE 1 November 2021: When trying to access the website of Loopring Exchange today, we were unsuccessful. We only get the following message:

ipfs resolve -r /ipns/exchange.loopring.io: 
could not resolve name

There have been no preceding messages on system maintenance or new websites or anything similar. Accordingly, we believe that this exchange has closed down and we have marked it as "dead" in our Exchange Graveyard. If the exchange's website would become accessible again and the error is just temporary, we will "revive" it and bring it back to our Exchange List.

To find a reliable exchange where you can start an account, just use our Exchange Filters and we'll help you find the right platform for you.

Loopring Exchange is a cryptocurrency exchange registered in the British Virgin Islands that has been up and running since February 2020.

The exchange is powered by Ethereum and - naturally - the Loopring Protocol. As reasons for transacting through the Loopring Protocol, the team behind Loopring emphasizes that it is secure, has high troughput and low transaction costs.

Loopring Exchange About Loopring

On the date of first writing this review (27 August 2020), the platform stated on its website that it had a 24-hour trading volume amounting to 60,976 USDT (i.e., almost USD 61,000). The trading volume is unfortunately quite low at the time. However, a year later (21 September 2021), the 24-hour trading volume has risen somewhat and stands at USD 3.7 million according to Coinmarketcap. Although that growth is impressive, the liquidity is still quite thin. On the same day, Uniswap was the leading DEX platform in terms of daily volumes with a 24-hour trading volume in excess of USD 2 billion... 

Every trading platform has a trading view. The trading view is the part of the exchange’s website where you can see the price chart of a certain cryptocurrency and what its current price is. There are normally also buy and sell boxes, where you can place orders with respect to the relevant crypto, and, at most platforms, you will also be able to see the order history (i.e., previous transactions involving the relevant crypto). Everything in the same view on your desktop. There are of course also variations to what we have now described. This is the trading view at Loopring Exchange:

Loopring Exchange Trading View

It is up to you – and only you – to decide if the above trading view is suitable to you. Finally, there are usually many different ways in which you can change the settings to tailor the trading view after your very own preferences.

Most crypto exchanges charge two different types of trading fees: taker fees and maker fees. The taker is the person who picks up an existing order from the order book. The maker, on the other hand, is the person who creates an order that is not immediately matched against an existing order on the order book. Makers are often rewarded for creating liquidity on the platform by a lower trading fee than takers. Exchanges that do not make a distinction between takers and makers charge what we call “flat fees”. Loopring charges 0.10% for takers and zero fees for makers.

According to the largest and most recent empirical study on crypto exchange trading fees, the average spot trading taker fee is currently 0.2181% and the average spot trading maker fee is currently 0.178%.

Compared to those average trading fees, Loopring's taker fees and maker fees is below the industry average.

Loopring Exchange charges a withdrawal fee of 0.002 ETH per ETH-withdrawal. The exchange does not support trading in BTC so we don't have a BTC-withdrawal fee comparison point. The ETH-withdrawal fee can be compared with other exchanges’ ETH-withdrawal fees in our Exchange List, such as Joyso (charging 0.0006 ETH) EtherDelta (charging 0.0007 ETH per ETH-withdrawal), Kyber Network (charging network fees, 0.004782 ETH per ETH-withdrawal) and Bilaxy (charging 0.01 ETH per ETH-withdrawal).

So, in comparison with the above, Loopring Exchange’s withdrawal fee for ETH is the second highest, only surpassed by Bilaxy.

Why do so many exchanges not allow US citizens to open accounts with them? The answer has only three letters. S, E and C (the Securities Exchange Commission). The reason the SEC is so scary is because the US does not allow foreign companies to solicit US investors, unless those foreign companies are also registered in the US (with the SEC). If foreign companies solicit US investors anyway, the SEC can sue them. There are many examples of when the SEC has sued crypto exchanges, one of which being when they sued EtherDelta for operating an unregistered exchange. Another example was when they sued Bitfinex and claimed that the stablecoin Tether (USDT) was misleading investors. It is very likely that more cases will follow.

Loopring Exchange does permit US investors to their trading platform. However, we urge any US investors to form their own opinion on the permissibility of their trading at Loopring Exchange.

In order to trade here, you must have cryptocurrency to begin with. The only asset class you can deposit to Loopring Exchange is cryptocurrency. However, if you really like Loopring Exchange but you don’t have any crypto yet, you can easily start an account with an exchange that has “fiat on-ramps” (an exchange where you can deposit regular cash), buy crypto there, and then transfer it from such exchange to this exchange.

Use our Exchange Filters to easily see which platforms that allow wire transfer or credit card deposits.