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Convert
Singapore Dollar (SGD) to Loopring (LRC) Instantly

Purchase Loopring (LRC) with Singapore Dollar (SGD) easily at Switchere and benefit from fast, secure transactions.

About
Loopring (LRC)

Loopring (LRC) is a Layer-2 scaling protocol built on Ethereum, specifically engineered to power high-performance, non-custodial decentralized exchanges (DEXs) and payment applications. It directly addresses Ethereum's scalability and high gas fee issues by employing a sophisticated cryptographic method called zkRollups (Zero-Knowledge Rollups). This advanced blockchain technology allows Loopring to bundle thousands of off-chain transactions, such as trades and transfers, into a single batch. It then generates a cryptographic proof of this batch's validity, which is submitted to the Ethereum mainnet for verification. This mechanism enables massive throughput and reduces transaction fees to a fraction of on-chain costs, all while inheriting the foundational cryptographic security of the Ethereum network.

A primary function of the protocol is to support order book-based DEXs, providing a trading experience similar to centralized platforms but with the self-custody benefits of a decentralized network. The native utility token, LRC, is crucial for the ecosystem's tokenomics. It can be staked by exchange operators to run a DEX on the protocol, and stakers earn a portion of the trading fees. LRC holders can also stake their tokens to lower their own trading fees and participate in protocol governance, making it a key digital asset for building scalable Web3 infrastructure for DeFi applications.

Loopring (LRC)

How to Buy Loopring (LRC)

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  1. Step 1 illustration
    01

    Choose SGD to LRC Pair

    Select your preferred payment method and enter the amount.

  2. 02

    Enter Your Loopring Wallet Address

    Provide your LRC wallet address and proceed with the payment.

  3. 03

    Receive Your Loopring

    Complete the payment, and your LRC will be sent to your wallet.

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Frequently asked questions

  • What is the SGD/LRC trading pair and its significance?

    The SGD/LRC pair represents the direct exchange rate between the Singapore Dollar and the Loopring token. Its significance lies in providing a direct fiat on-ramp for users in Singapore to acquire LRC tokens, which are essential for interacting with the Loopring ecosystem. Loopring is an Ethereum Layer-2 scaling solution that uses zkRollup technology to enable high-throughput, low-cost decentralized exchanges (DEXs), and this pair is a key gateway for accessing that advanced trading environment.
  • What are common methods to purchase LRC tokens using Singapore Dollars (SGD)?

    To purchase LRC with SGD, you typically use a MAS-regulated cryptocurrency exchange that lists the pair. Common fiat deposit methods include FAST transfers or PayNow for near-instant, low-cost funding from a Singaporean bank account. After funding your account and completing KYC/AML verification, you can place an order on the SGD/LRC order book. For long-term secure storage, it's recommended to withdraw your LRC to a personal digital wallet.
  • How does Loopring's zkRollup technology reduce gas fees for users?

    Loopring's zkRollup technology works by bundling hundreds or even thousands of off-chain transactions into a single batch. It then generates a cryptographic proof (a ZK-SNARK) that these transactions are valid and submits only this proof to the Ethereum mainnet. Because a single on-chain transaction validates a large batch of trades, the associated Ethereum gas fee is split among all users in the batch, drastically lowering the cost per individual transaction to a fraction of a cent.
  • What is the utility of the LRC token within the Loopring protocol?

    The LRC token has several key functions within the Loopring protocol. Primarily, it's used for staking. Users can stake LRC to earn a percentage of the protocol fees generated by all DEXs built on Loopring. Additionally, LRC is required for anyone who wants to operate their own non-custodial exchange on the protocol, as they must stake a significant amount of LRC to ensure economic security. It also serves as a governance token for future protocol upgrades.
  • Are there specific security risks when trading SGD for LRC?

    The risks are similar to any digital asset purchase. Use only reputable, MAS-compliant exchanges to mitigate counterparty risk. Enable two-factor authentication (2FA) on your exchange account. The most critical step is securing your assets post-purchase. Do not leave large amounts of LRC on an exchange; transfer them to a hardware wallet or a self-custody smart contract wallet (like the Loopring Wallet) where you control the private keys. This protects you from exchange hacks.
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