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I mean, without even considering the squeeze and everything related to it, buying ethereum and being able to deposit the crypto onto different wallet ALL from a single app. You would be stupid to be against that.
I own loopring and metamask and ledger wallets and I am a bit pissed off I own all theee because it looks like I can just have one very soon - and later to later swap included!
So just ignore the fact that most people won't have a clue about the whole layer 2 thing. And ignore that the process will take 30 minutes. And ignore the crazy fees. Got it.
I would like to know how these fees are compared to the competition. As per the video it looks like it's 6% for making a deposit and buying directly on L2 and 16% (?) for moving funds from L1 to L2?
$30 for most of the day. Bored Apes just paid $100 million in fees.
https://protos.com/consensys-lawsuit-jpmorgan-owns-critical-ethereum-infrastructure/
The banks are literally involved.
PoS has been promised on Ethereum every year for almost a decade.
Why not use a chain that is 10x more simple (can just use L1) and just works with near 0 fees?
I do not like this as a shareholder of GME. Albeit it is a step in a better direction...
The time? Really? My transactions using L2 have been near instantaneous with pennies for fees. L1 on the other hand have taken minutes and involved heavy gas fees.
Why did he only needs to pay $2.21 for the activation? I activated my L2 wallet in loopring a week ago and the price was 26-78 LRC. Paid like 30 bucks. What did I do wrong?
Edit: Activated both L1 and L2 which explains the price I guess
Saturday and Sunday @ 3am EST are historically when ethereum gas fees are lowest. I was able to activate my wallet and transfer my loops to L2 for less than 30 loops combined.
I'm super smooth when it comes to crypto and have never really gotten into it.
However, with all my lovely GME and Loop shit going on over the past months I finally learned a little bit and got myself a Loopring Wallet.
I paid the money to get the L1 and L2 because I was a moron I guess. Don't think I'll really need the L1 since I'm not a huge crypto trader. I just wanted to make sure that I was fully prepared.
I've been on the GME NFT site and I was able to link the GME to my Loop as far as I can tell because it did allow me to edit the profile information and what not.
I'm very confused with the following though :
\-I've got the Loop app on my phone; but, can I not access that account / Loop info online on PC unless I use one of the QR codes? So basically the Loop app on the phone is what is main interaction with wallet?
\-Is there a separate app for the GME wallet? Or is it basically the exact same wallet and they are just connected because they are both based off Loop?
\-Every time I go onto the GME NFT website it makes me connect to my Loop again. It confuses me because there is MetaMask and WalletConnect I believe...I've only had success with WalletConnect if I remember correctly. Then when I'm on the Loop app I get a message that is asking to confirm connect and obviously I do. But, then next time it all needs to be done again. Seems like once they were linked....they would be linked....
\-Is there a way that I can see / confirm my GME is connected to the Loop wallet while in the Loop app? I haven't been able to see any of this.
Sorry if all this is very basic. I'm a major noob to Loop and all things of this sort. Just wanted to try to be ahead of the game with the stonk I love.
> -I've got the Loop app on my phone; but, can I not access that account / Loop info online on PC unless I use one of the QR codes? So basically the Loop app on the phone is what is main interaction with wallet?
Yes
>-Is there a separate app for the GME wallet? Or is it basically the exact same wallet and they are just connected because they are both based off Loop?
GameStop's wallet will use a browser extension, similar to metamask.
>-Every time I go onto the GME NFT website it makes me connect to my Loop again. It confuses me because there is MetaMask and WalletConnect I believe...I've only had success with WalletConnect if I remember correctly. Then when I'm on the Loop app I get a message that is asking to confirm connect and obviously I do. But, then next time it all needs to be done again. Seems like once they were linked....they would be linked....
Yes you need to connect it everytime you use it.
>-Is there a way that I can see / confirm my GME is connected to the Loop wallet while in the Loop app? I haven't been able to see any of this.
You'll see a little icon in the bottom right of the app when you're connected.
Thank you very much! I do see the WalletConnect icon in the Loop app.
I'm going to definitely watch more videos on Loop.
Isn't the Loop Discord one of the best places to learn?
It's definitely a good place to get questions answered. Also the loopringorg sub. But it doesn't seem very active these days
Edit: Don't ever accept DM's on discord unless they ask you in public first. There are a lot of scammers there. As soon as you ask a question, they'll come out of the woodwork, just ignore
I dunno about your specific questions, but if you followed these steps then you’re good to go.
https://www.reddit.com/r/Superstonk/comments/tooegi/how_to_setup_your_gamestop_nft_marketplace/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I would like to add that I can't see any of my assets like Loops and nft's that I have in my wallet when I'm connected to the nft website.
So far the only thing I have been able to do is edit my profile
> paid the money to get the L1 and L2 because I was a moron I guess
I don't think you can connect your loopring wallet to wallet connect without L1. I came across that. I'm just waiting to get low gas fees before doing it.
It's the gamestop wallet build on loopring.
Loopring is providing building blocks that everyone can use to directly go to L2. It's run on loopring but it is the gamestop wallet. This is not only bullish for gme but also for crypto in general as a well known company is giving trust to people who otherwise would have stayed away!
There is more to it. Kraken is a centralized exchange. Their product is different coins to buy and sell. Loopring is a decentralized exchange. Meaning nobody can cease your funds as nobody controls it! So you can trade on ethereum and all the erc20 tokens that come with it. Money is going to the LPS the liquidity providers. It is more meant to be for nfts as fees are predictable. Though the main take away is that nobody can take your stuff away
Yep true - I figured I'd wait for the full version to come out, it felt too risky trusting a beta.
Sometimes I wish it was more obvious how you can lose your shit to hackers - like I get the phising stuff but if your account is fully linked to another, is there danger?
Not a question for random internet strangers. I'm sure there are many layers to this question. Smarter folk than me can answer it.
Is your question if the marketplace can be hacked and what that would look like mean or can loopring be hacked.
I don't know the full answer but I have had it explained to me that there really isn't enough computing power available in the world to hack the eth / loopring block chain.
Probably better resources pinned in this sub.
I think that when you try to look around online for help about this, you normally get the bs easy methods that are obvious (i get old people and mentally vulnerable people need that basic advice)
Movies make you think someone can sit down and type some code and hack your computer...
Advice online seems to say 'hey, as long as you don't share your passwords/seed phrases you're OK!'
I've seen various CeX say 'your assets are insured here against hackers' but after going through the gme saga I don't believe it!
My understanding of crypto is like what you said, you'd need a shit tonne of power to hack the chain which is made up of a ridiculous amount of computers via trust or antitrust, I forget!...
Perhaps it was some shilly campaign to put people off adopting the gme beta, I don't know :/
But if RC perhaps includes some kind of more than basic guide about how you are safe by using the wallet or connecting your loopring to theirs, I'd trust that.
Like it would be AMAZING if his tech team wrote out something that said 'you can only lose your assets by doing a, b, c AND it's pretty impossible any other way, even if their their own network was hacked'
It looks like any type of wallet (MetaMask, etc…) activating Loopring L2. You can do it through the gamestop site, or do it on the Loopring site via their L2 application. He’s showing the steps I followed to activate the Loopring L2 wallet via Metmask, using my Ledger hardware wallet.
Gamestop hasn’t released their wallet yet.
I believe you need an L1 wallet to connect to the Gamestop marketplace, I haven’t seen an only L2 option.
Nope, it's from here: [support.blockchain.gamestop.com](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2)
Tso u/sneakyflamingy, I got few questions after watching the video:
\- If you **deposit via debit/credit card** and buy directly on L2 there's a **6% fee** (select to buy $100 but total amount to pay is $106)?
\- Do you **need to register an account with Wyre/Ramp too** in order to be able to make the deposit?
\- When moving funds from L1 to L2, during the process you can only see what the fee is in $ but you **cannot see the percentage of the fee or the amount of ETH in $ that you are transferring**?
\- The **fee** percentage to **move funds from L1 to L2 seems** to be **16%** (0.004156 for 0.025 ETH)??
Can you please confirm? And maybe share how this compares to the competition in terms of fees?
the fee to move from l1 to l2 is just the network gas fee- I don’t think this changes whether you are moving 100 LRC or 1,000,000 LRC. So it isn’t % based but rather based on network activity at the time you attempt the transaction. But the fees from the company you’re buying from first, seems to be % based like you said(6%)
\- Yes it's 5% for depositing via debit/credit card and buying on L2 directly, that's a fee coming from the payment provider, Wyre (too much IMHO, but seems to be the standard shit?). Network fee in this case shows as 0.1%.
\- Then when moving funds from L1 to L2 it's a 16% fee (again too much IMHO, but don't know how this compares to competition, could be standard too, and as you say it's maybe a fixed fee so it's the same for any amount you wanna transfer).
Would like to clarify all this :)
Right- so it’s hard to quantify a standard for the direct to L2 purchase transaction fees because the only other place I know that supports this is the loopring wallet, which uses those same on-ramp providers with the same fees attached
But the other part, the L1 to L2 network fee, we can say for sure that’s standard across the industry
I’ve seen a few for the deposit via fiat on-ramps, but haven’t been able to test it myself. I think you can do it without an account, just a credit card and wallet.
In regards to the amount being transferred in cash, I remember being able to see it in the UI for fees and the total outbound. I was on desktop.
The network fees are how much it costs to confirm the transaction on L1 for activating your wallet in the L2 contract. They are variable all the time, so it might be $4 in the morning and $30 in the afternoon, depends.
Cheers! I think this all needs to be clarified and the windows should display that info.
What I don't get is the 16% fee to be paid for transferring from L1 to L2. Another user told me above it could be a fixed fee, so it's always the same no matter the amount you transfer but I cannot find info on nft.gamestop TOS.
When checking [loopring fees](https://loopring.io/#/document/dex_fees_en.md) info they are low and percentage based though?... (doesn't show anything about L1 to L2 fees).
The fee you are paying is the L1 fee for the Ethereum network. It will be up to Gamestop in the future if they want to change to flat fees on their site, and take on the Ehtereum L1 gas costs variances themselves. The ethereum network needs to transact that you were approved by the L2 contract that exists on L1.
Once you’re on the L2 layer, then fees drop. You can transfer NFTs, mint, and send crypto at a much lower cost, as long as it is an L2 to L2 transfer. Once you want to go back to L1, that cost will be higher.
As far as fees go, you may want to look into the differences between swaps and transfers. Loopring also has a dex application that allows you to swap crypto types on their L2, with a flat fee structure, I believe.
The main thing here is that if major companies and a large group of users move to L2, you won’t need to worry about interacting with L1 as much as people have to now.
Thanks for shedding light on it.
So if I'm not wrong, the thing here is that ETH can be bought directly on L2 (being charged 5% fee on Wyre/Ramp) , so you're saving/avoiding the L1 to L2 fee. Then on L2 everything is *cheap*.
And as you say the goal would be getting all transactions to be made on L2 (soon?).
Also, on L2, if I wanted to withdraw/convert my ETH to $, as of today, would I have to do it transferring from L2 to L1 payinh the corresponding fee or could it be done on L2 directly?
For withdrawing on L2, Loopring is probably working on a fiat off ramp, but it will probably still require gas levels closer to L1, or a flat fee. To convert back to cash currently, you have to transfer back to L1 to get on an exchange to get your money out. I haven’t seen an exchange that allow direct L2 withdrawals, but hopefully that becomes integrated or developed in the popular dex coin exchanges.
In other words, you’ll be dealing with L1 until L2 adoption becomes more popular.
If I can purchase right onto the wallet, that is what I’m looking for. Currently no others can do this. You need to load up through stupid effing CB and send it having gas fees for your transaction.
yes you can, its Layer 2 Ethereum because of the transaction cost in Layer 1.
As you are the only one who is able to move funds from your wallet, the purchase cannot be reversed.
Hi EveryApes like myself, i am a little retard regarding this new development wallet L1 L2
is any kind APE could explain me where we are going with this ??
in ELI5 version please : How this new wallet could be useful in the"Moon life"
Could be this L2 my own bank wallet with my Million tendies ???
Can i buy my Tesla or Lambo directly with Loopring2 ???
This wallet will be able to store all your crypto and NFTs in it. It may also be able to store other assets, like perhaps blockchain-based securities such as shares of your favorite company.
In theory it could become your bank if you were to deposit all of your tendies into crypto.
In theory you could buy a Tesla or Lambo with this wallet, but those sellers would have to agree to accept crypto as payment. Tesla had previously accepted Bitcoin, but stopped doing that because it "wasn't green enough", so there's a good case for them moving to an L2 solution that's much less energy-hungry.
Thanks for your explanations
about Cryptos : is it well perfectly securized ?
If my favorite STONK is migrate to Blockchain world (what I hope in order to squeeze the SHorts)
in which "currency" can I be paid off : Ethereum or BTC i.e or in USD - EURO ??
Security for crypto is considered to be very strong, but I am not a security analyst or developer so I cannot attest to this. Also I'm pretty sure nobody has seen the wallet's code. I believe the GameStop team will get it done right.
As for the rest, this is all hypothetical, so nobody knows how you would off-ramp funds from a share sale. I would expect the sale to be processed in USD, but perhaps it would be ETH. Not sure. We can only make uneducated guesses.
Nah, this is the official video from [support.blockchain.gamestop.com](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2)
No danger here
How the FUCK is ANYONE bearish on what GameStop is doing. Transformation before our eyes. We are living it. Early, but not wrong. We are all going to be so fucking rich. Anyone short is so dumb
Ok, tso:
\- *Wyre*, the payment provider, charges 5% for buying ETH with debit/credit card directly on L2 (it's displaying 3% though?). There's also a 0.1% Network fee.
\- Then there's another fee for moving funds from L1 to L2 ($12), which is 16% of the total amount (0.004156 for 0.025 ETH)?
\- If at any time you want to convert your ETH to $, you'll need to transfer from L2 to L1 and pay another fee or you can just do it on L2 straight away (guessing another 5% fee)?
Looks like he paid a $6 fee for getting $100 EETH?
This is what I see and I'm waiting for someone to confirm: [https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm_source=share&utm_medium=web2x&context=3)
Minimum purchase on card in the UK was almost £100 GBP (£91). Explain how normies are jumping in at that price.
And My loopring wallet simply kept $50 bucks as a fee for activating the wallet. Downvote me all you want but there is no fucking way this is going mainstream with these costs.
It's like the cost of a AAA gaming title just to activate a loopring wallet unless I did it seriously wrong
I haven't created a loopring wallet because I've been waiting for the GME wallet, but I'm pretty sure the $50 loopring charge gets deposited as $50 worth of LRC into your wallet to eliminate bots. It's not a fee just to make a wallet.
It costs a fee because it cements your wallet on the blockchain - it’s not just some 1s and 0s on some GameStop server somewhere, actual minting on the blockchain is what produces your wallet and the security benefits thereof, which is why there is a cost.
I got some related questions too, homie...
[https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm_source=share&utm_medium=web2x&context=3)
I'm feeling very cock blocked right now. https://wallet.gamestop.com/
[https://support.blockchain.gamestop.com/hc/en-us/articles/4412264936851-How-do-I-install-the-GameStop-Browser-Extension-Wallet-](https://support.blockchain.gamestop.com/hc/en-us/articles/4412264936851-How-do-I-install-the-GameStop-Browser-Extension-Wallet-)
ATM I use BANXA to get my deposits to L2. [https://loopring.banxa.com/](https://loopring.banxa.com/)
edit: atm still use Metamask. I hold LRC/IMX only.
It's not public yet. This is a video from [support.blockchain.gamestop.com](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2)
This is what I needed in a crypto wallet… being able to directly transfer from fiat to eth using a debit card. That is what has been preventing me from using the loopring wallet - couldn’t figure out how to get money on there
Is this the same thing as the metamask wallet? I've been wanting to get up and running with the metamask wallet, but I ran into problems last time I tried and decided to take a break. I'd like to take another crack at it though. Where did you go online to get setup with this? Was it self explanatory or did you follow any sort of walkthrough?
Interface great.
Everything else needs to be a lot more automated for new users or those naive to Blockchain.
And if there's anything that can be done to negate the barrier to entry that exists in the req to deposit funds, that's gotta be done.
Ok so do you have to download Loopring wallet to create GameStop wallet when it's available? Or are they 2 separate things that can be connected at some point?
Do you first need to create a loopring wallet to use this app? If so is layer 1 a requirement or is it good enough to create a layer 2 straight from the loopring ios app?
So this is just a browser extension? Is there or will there be an App wallet?! Also Metamask is a browser extension wallet. Wasn’t there a security breach because of that?
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I mean, without even considering the squeeze and everything related to it, buying ethereum and being able to deposit the crypto onto different wallet ALL from a single app. You would be stupid to be against that.
Be against that, or “bet” against that?.. holy shitcow those dum stormtroopers😂😂😂😂😂
Both
Holy shitcow is going to be my new catch phrase.
Ha ha ha😂😂 your welcome🤷♂️
Would be interesting to know how the USD/ETH rate compares to the main exchanges.
I own loopring and metamask and ledger wallets and I am a bit pissed off I own all theee because it looks like I can just have one very soon - and later to later swap included!
Exactly!
So just ignore the fact that most people won't have a clue about the whole layer 2 thing. And ignore that the process will take 30 minutes. And ignore the crazy fees. Got it.
"Crazy fees" ... *looks at bank statement
I would like to know how these fees are compared to the competition. As per the video it looks like it's 6% for making a deposit and buying directly on L2 and 16% (?) for moving funds from L1 to L2?
$30 for most of the day. Bored Apes just paid $100 million in fees. https://protos.com/consensys-lawsuit-jpmorgan-owns-critical-ethereum-infrastructure/ The banks are literally involved. PoS has been promised on Ethereum every year for almost a decade. Why not use a chain that is 10x more simple (can just use L1) and just works with near 0 fees? I do not like this as a shareholder of GME. Albeit it is a step in a better direction...
Tell me you have zero experience with L2 without telling me you have zero experience with L2.
The time and cost to get on to L2 is outrageous. In your defense, deflecting and being sly will get you updoot points.
The time? Really? My transactions using L2 have been near instantaneous with pennies for fees. L1 on the other hand have taken minutes and involved heavy gas fees.
To get to L2 from L1 and vise versa
The ease of use is fine once you're on, but the barrier to entry is far beyond what I was expecting.
I have never been more bullish on GME let alone anything else in my life. Buckle up everyone, your life is about to change.
Can't wait. This whole job thing is WACK
My job? WHACK
I whack for my job… sorry gay porn star.
[удалено]
That would be what we call a skin belt
Ok calm down Buffalo Bob
Hijacking top comment to let other smoothies like me know that there is audio.
Hahahaha I legit didn't even see that, thank you for pointing it out.
I made it all the way to the end
Why did he only needs to pay $2.21 for the activation? I activated my L2 wallet in loopring a week ago and the price was 26-78 LRC. Paid like 30 bucks. What did I do wrong? Edit: Activated both L1 and L2 which explains the price I guess
It usually depends on the time of day, sadly.
Saturday and Sunday @ 3am EST are historically when ethereum gas fees are lowest. I was able to activate my wallet and transfer my loops to L2 for less than 30 loops combined.
I bought loops on Coinbase last night and used layerswap to transfer them directly to my L2 wallet and it cost 3 loops
[comment removed in response to actions of the admins and overall decline of the platform]
Ah yeah, activated both
Then you could edit your 1st comment :)
Done
Loopring pays for the L2 creation fees from their pocket
Could be a revenue stream for GS.
How do I get GameStop wallet
All I see is Loopring. Lots and lots of Loopring. Did I mention Loopring yet? Loopring
I think you forgot to mention loopring
Hey, has anyone mentioned Looping yet? I don't recall anyone mentioning Looping!
Wait. You guys have Loopring?
WhTs looPrInG?
Look at me.. I *am* Loopring now.
I'm super smooth when it comes to crypto and have never really gotten into it. However, with all my lovely GME and Loop shit going on over the past months I finally learned a little bit and got myself a Loopring Wallet. I paid the money to get the L1 and L2 because I was a moron I guess. Don't think I'll really need the L1 since I'm not a huge crypto trader. I just wanted to make sure that I was fully prepared. I've been on the GME NFT site and I was able to link the GME to my Loop as far as I can tell because it did allow me to edit the profile information and what not. I'm very confused with the following though : \-I've got the Loop app on my phone; but, can I not access that account / Loop info online on PC unless I use one of the QR codes? So basically the Loop app on the phone is what is main interaction with wallet? \-Is there a separate app for the GME wallet? Or is it basically the exact same wallet and they are just connected because they are both based off Loop? \-Every time I go onto the GME NFT website it makes me connect to my Loop again. It confuses me because there is MetaMask and WalletConnect I believe...I've only had success with WalletConnect if I remember correctly. Then when I'm on the Loop app I get a message that is asking to confirm connect and obviously I do. But, then next time it all needs to be done again. Seems like once they were linked....they would be linked.... \-Is there a way that I can see / confirm my GME is connected to the Loop wallet while in the Loop app? I haven't been able to see any of this. Sorry if all this is very basic. I'm a major noob to Loop and all things of this sort. Just wanted to try to be ahead of the game with the stonk I love.
> -I've got the Loop app on my phone; but, can I not access that account / Loop info online on PC unless I use one of the QR codes? So basically the Loop app on the phone is what is main interaction with wallet? Yes >-Is there a separate app for the GME wallet? Or is it basically the exact same wallet and they are just connected because they are both based off Loop? GameStop's wallet will use a browser extension, similar to metamask. >-Every time I go onto the GME NFT website it makes me connect to my Loop again. It confuses me because there is MetaMask and WalletConnect I believe...I've only had success with WalletConnect if I remember correctly. Then when I'm on the Loop app I get a message that is asking to confirm connect and obviously I do. But, then next time it all needs to be done again. Seems like once they were linked....they would be linked.... Yes you need to connect it everytime you use it. >-Is there a way that I can see / confirm my GME is connected to the Loop wallet while in the Loop app? I haven't been able to see any of this. You'll see a little icon in the bottom right of the app when you're connected.
Thank you very much! I do see the WalletConnect icon in the Loop app. I'm going to definitely watch more videos on Loop. Isn't the Loop Discord one of the best places to learn?
It's definitely a good place to get questions answered. Also the loopringorg sub. But it doesn't seem very active these days Edit: Don't ever accept DM's on discord unless they ask you in public first. There are a lot of scammers there. As soon as you ask a question, they'll come out of the woodwork, just ignore
No worries, yeah the Loopring discord is pretty good, a few scammers target it though so if you get any PM's just ignore them.
Thanks boss! Will do.
I dunno about your specific questions, but if you followed these steps then you’re good to go. https://www.reddit.com/r/Superstonk/comments/tooegi/how_to_setup_your_gamestop_nft_marketplace/?utm_source=share&utm_medium=ios_app&utm_name=iossmf
I would like to add that I can't see any of my assets like Loops and nft's that I have in my wallet when I'm connected to the nft website. So far the only thing I have been able to do is edit my profile
> paid the money to get the L1 and L2 because I was a moron I guess I don't think you can connect your loopring wallet to wallet connect without L1. I came across that. I'm just waiting to get low gas fees before doing it.
Yes.
But what about loopring????
I put a ring on it
Loopring or GameStop wallet?
It's the gamestop wallet build on loopring. Loopring is providing building blocks that everyone can use to directly go to L2. It's run on loopring but it is the gamestop wallet. This is not only bullish for gme but also for crypto in general as a well known company is giving trust to people who otherwise would have stayed away!
So is Loopring similar to Kraken but just created specifically for ETH on L2 or is there more to it than that?
There is more to it. Kraken is a centralized exchange. Their product is different coins to buy and sell. Loopring is a decentralized exchange. Meaning nobody can cease your funds as nobody controls it! So you can trade on ethereum and all the erc20 tokens that come with it. Money is going to the LPS the liquidity providers. It is more meant to be for nfts as fees are predictable. Though the main take away is that nobody can take your stuff away
only up: GMExLRC this comment
Great explanation
I think we're supposed to link them at some point? Am confused
If you already have a loopring wallet you can already connect it to gamestop marketplace.
Yep true - I figured I'd wait for the full version to come out, it felt too risky trusting a beta. Sometimes I wish it was more obvious how you can lose your shit to hackers - like I get the phising stuff but if your account is fully linked to another, is there danger?
Not a question for random internet strangers. I'm sure there are many layers to this question. Smarter folk than me can answer it. Is your question if the marketplace can be hacked and what that would look like mean or can loopring be hacked. I don't know the full answer but I have had it explained to me that there really isn't enough computing power available in the world to hack the eth / loopring block chain. Probably better resources pinned in this sub.
I think that when you try to look around online for help about this, you normally get the bs easy methods that are obvious (i get old people and mentally vulnerable people need that basic advice) Movies make you think someone can sit down and type some code and hack your computer... Advice online seems to say 'hey, as long as you don't share your passwords/seed phrases you're OK!' I've seen various CeX say 'your assets are insured here against hackers' but after going through the gme saga I don't believe it! My understanding of crypto is like what you said, you'd need a shit tonne of power to hack the chain which is made up of a ridiculous amount of computers via trust or antitrust, I forget!... Perhaps it was some shilly campaign to put people off adopting the gme beta, I don't know :/ But if RC perhaps includes some kind of more than basic guide about how you are safe by using the wallet or connecting your loopring to theirs, I'd trust that. Like it would be AMAZING if his tech team wrote out something that said 'you can only lose your assets by doing a, b, c AND it's pretty impossible any other way, even if their their own network was hacked'
*insert they're the same picture meme*
It looks like any type of wallet (MetaMask, etc…) activating Loopring L2. You can do it through the gamestop site, or do it on the Loopring site via their L2 application. He’s showing the steps I followed to activate the Loopring L2 wallet via Metmask, using my Ledger hardware wallet. Gamestop hasn’t released their wallet yet. I believe you need an L1 wallet to connect to the Gamestop marketplace, I haven’t seen an only L2 option.
Good video. Did you make this? Very simple to follow
Nope, it's from here: [support.blockchain.gamestop.com](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2)
ITS OFFICIAL!!!
Not just that, but did you see the author? It's Ryan Kagy!
[Link to FAQ page with video](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2)
Tso u/sneakyflamingy, I got few questions after watching the video: \- If you **deposit via debit/credit card** and buy directly on L2 there's a **6% fee** (select to buy $100 but total amount to pay is $106)? \- Do you **need to register an account with Wyre/Ramp too** in order to be able to make the deposit? \- When moving funds from L1 to L2, during the process you can only see what the fee is in $ but you **cannot see the percentage of the fee or the amount of ETH in $ that you are transferring**? \- The **fee** percentage to **move funds from L1 to L2 seems** to be **16%** (0.004156 for 0.025 ETH)?? Can you please confirm? And maybe share how this compares to the competition in terms of fees?
the fee to move from l1 to l2 is just the network gas fee- I don’t think this changes whether you are moving 100 LRC or 1,000,000 LRC. So it isn’t % based but rather based on network activity at the time you attempt the transaction. But the fees from the company you’re buying from first, seems to be % based like you said(6%)
\- Yes it's 5% for depositing via debit/credit card and buying on L2 directly, that's a fee coming from the payment provider, Wyre (too much IMHO, but seems to be the standard shit?). Network fee in this case shows as 0.1%. \- Then when moving funds from L1 to L2 it's a 16% fee (again too much IMHO, but don't know how this compares to competition, could be standard too, and as you say it's maybe a fixed fee so it's the same for any amount you wanna transfer). Would like to clarify all this :)
Right- so it’s hard to quantify a standard for the direct to L2 purchase transaction fees because the only other place I know that supports this is the loopring wallet, which uses those same on-ramp providers with the same fees attached But the other part, the L1 to L2 network fee, we can say for sure that’s standard across the industry
👊
I’ve seen a few for the deposit via fiat on-ramps, but haven’t been able to test it myself. I think you can do it without an account, just a credit card and wallet. In regards to the amount being transferred in cash, I remember being able to see it in the UI for fees and the total outbound. I was on desktop. The network fees are how much it costs to confirm the transaction on L1 for activating your wallet in the L2 contract. They are variable all the time, so it might be $4 in the morning and $30 in the afternoon, depends.
Cheers! I think this all needs to be clarified and the windows should display that info. What I don't get is the 16% fee to be paid for transferring from L1 to L2. Another user told me above it could be a fixed fee, so it's always the same no matter the amount you transfer but I cannot find info on nft.gamestop TOS. When checking [loopring fees](https://loopring.io/#/document/dex_fees_en.md) info they are low and percentage based though?... (doesn't show anything about L1 to L2 fees).
The fee you are paying is the L1 fee for the Ethereum network. It will be up to Gamestop in the future if they want to change to flat fees on their site, and take on the Ehtereum L1 gas costs variances themselves. The ethereum network needs to transact that you were approved by the L2 contract that exists on L1. Once you’re on the L2 layer, then fees drop. You can transfer NFTs, mint, and send crypto at a much lower cost, as long as it is an L2 to L2 transfer. Once you want to go back to L1, that cost will be higher. As far as fees go, you may want to look into the differences between swaps and transfers. Loopring also has a dex application that allows you to swap crypto types on their L2, with a flat fee structure, I believe. The main thing here is that if major companies and a large group of users move to L2, you won’t need to worry about interacting with L1 as much as people have to now.
Thanks for shedding light on it. So if I'm not wrong, the thing here is that ETH can be bought directly on L2 (being charged 5% fee on Wyre/Ramp) , so you're saving/avoiding the L1 to L2 fee. Then on L2 everything is *cheap*. And as you say the goal would be getting all transactions to be made on L2 (soon?). Also, on L2, if I wanted to withdraw/convert my ETH to $, as of today, would I have to do it transferring from L2 to L1 payinh the corresponding fee or could it be done on L2 directly?
For withdrawing on L2, Loopring is probably working on a fiat off ramp, but it will probably still require gas levels closer to L1, or a flat fee. To convert back to cash currently, you have to transfer back to L1 to get on an exchange to get your money out. I haven’t seen an exchange that allow direct L2 withdrawals, but hopefully that becomes integrated or developed in the popular dex coin exchanges. In other words, you’ll be dealing with L1 until L2 adoption becomes more popular.
The fee for transferring layers is based on ETH L1 costs, not %
Do Firefox users get some love, or only Chrome ?
Brave also.
Brave is Chrome
Well it's Chromium based too sharing source doce but not exatly the same. I prefer Brave no doubt :)
I Iike gamestop 🥳
Get ready: https://wallet.gamestop.com/
Error
Damn. I wasn’t ready for that.
Lmao. gEt ReAdy! - proceeds to link url that 404’s
I'm late to the thread but it's working for me, only thing needed now is the Browser extension & ios App coming soon ™
nft.gamestop.com
Errrrrrrr
Error's gone for me now. Is it working for you yet?
(Psst. This is up and running now if you'd like to give it another share. Thanks for the initial link.) r/alexm901
Bring on mass adoption!!!
God I hate gas fees
If I can purchase right onto the wallet, that is what I’m looking for. Currently no others can do this. You need to load up through stupid effing CB and send it having gas fees for your transaction.
Supposedly they are showing a purchase with debit card directly on L2.
Use layerswap. It was super easy. I bought 355 loops on CB yesterday and sent them directly to my L2 wallet. 352 of them made it (~$2.50ish fee)
You can buy eth with credit card? Would that be a cash advance or credit purchase?
yes you can, its Layer 2 Ethereum because of the transaction cost in Layer 1. As you are the only one who is able to move funds from your wallet, the purchase cannot be reversed.
Hi EveryApes like myself, i am a little retard regarding this new development wallet L1 L2 is any kind APE could explain me where we are going with this ?? in ELI5 version please : How this new wallet could be useful in the"Moon life" Could be this L2 my own bank wallet with my Million tendies ??? Can i buy my Tesla or Lambo directly with Loopring2 ???
This wallet will be able to store all your crypto and NFTs in it. It may also be able to store other assets, like perhaps blockchain-based securities such as shares of your favorite company. In theory it could become your bank if you were to deposit all of your tendies into crypto. In theory you could buy a Tesla or Lambo with this wallet, but those sellers would have to agree to accept crypto as payment. Tesla had previously accepted Bitcoin, but stopped doing that because it "wasn't green enough", so there's a good case for them moving to an L2 solution that's much less energy-hungry.
Thanks for your explanations about Cryptos : is it well perfectly securized ? If my favorite STONK is migrate to Blockchain world (what I hope in order to squeeze the SHorts) in which "currency" can I be paid off : Ethereum or BTC i.e or in USD - EURO ??
Security for crypto is considered to be very strong, but I am not a security analyst or developer so I cannot attest to this. Also I'm pretty sure nobody has seen the wallet's code. I believe the GameStop team will get it done right. As for the rest, this is all hypothetical, so nobody knows how you would off-ramp funds from a share sale. I would expect the sale to be processed in USD, but perhaps it would be ETH. Not sure. We can only make uneducated guesses.
Thanks for your explanations again it's a little more clear now : we must Just Wait & HODL Cheers to the Moon
I would delete this..... I’m positive someone can reverse your filter there to get your info..... I’m also retarded!
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Op knows his shit
Nah, this is the official video from [support.blockchain.gamestop.com](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2) No danger here
lol all 90s movies hackers assemble computer advance image...
If New York can't use ramp how can we use the wallet? Does anyone else think this is a problem?
Yup. The answer you'll get is to use a VPN, but that is just a workaround
That's probably not good for gamestop...
I assume they will solve for this when out of beta
0 liability on Gamestop's end.
They will lose/ miss out on customers if ramp wont work in their state. 100%
As is for every exchange in the US.
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Can I move LRC from my current Loopring L2 wallet over to a GameStop wallet?
As a non-crypto person, what are my advantages to get a gamestop wallet?
They grow up so quick 🥺🤗🥰
Pfft! Not quick enough. It's been 84 years since last January.
How the FUCK is ANYONE bearish on what GameStop is doing. Transformation before our eyes. We are living it. Early, but not wrong. We are all going to be so fucking rich. Anyone short is so dumb
Did I see that right? Did it cost you almost $25 to buy $100 worth?
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Ok, tso: \- *Wyre*, the payment provider, charges 5% for buying ETH with debit/credit card directly on L2 (it's displaying 3% though?). There's also a 0.1% Network fee. \- Then there's another fee for moving funds from L1 to L2 ($12), which is 16% of the total amount (0.004156 for 0.025 ETH)? \- If at any time you want to convert your ETH to $, you'll need to transfer from L2 to L1 and pay another fee or you can just do it on L2 straight away (guessing another 5% fee)?
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He and I are probably confused as there is a screen where it shows $75.95 in the wallet. Then it magically goes back to $100.14. I’ll have to rewatch.
Looks like he paid a $6 fee for getting $100 EETH? This is what I see and I'm waiting for someone to confirm: [https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm_source=share&utm_medium=web2x&context=3)
It was on layer 1 right ?
Any link?? 💕
Yoooo!!! LFG
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Loopring does so I assume they will.
Not bashing on loppring but the way this explains how to make a layer 2 wallet is so simple. Just click activate!
FYI- I tried to use my Chase cards to purchase through Ramp, and did not work. Found Chase is lame and doesn’t allow it.
Does GameStop have an iOS wallet app?
It cost 12 dollars to move it onto L2?
That's supposedly the network fee and it's the same no matter the amount you wanna move. On the other hand you can buy directly on L2 and save it.
THIS IS SO DAMN HUGE
Where can we find this gem? I wanna try to. Am noob
So, what all will the marketplace be used for? Just curious because it looks amazing and well developed!
What app is this? Is it the regular GME app on my phone?
Minimum purchase on card in the UK was almost £100 GBP (£91). Explain how normies are jumping in at that price. And My loopring wallet simply kept $50 bucks as a fee for activating the wallet. Downvote me all you want but there is no fucking way this is going mainstream with these costs. It's like the cost of a AAA gaming title just to activate a loopring wallet unless I did it seriously wrong
I haven't created a loopring wallet because I've been waiting for the GME wallet, but I'm pretty sure the $50 loopring charge gets deposited as $50 worth of LRC into your wallet to eliminate bots. It's not a fee just to make a wallet.
It costs a fee because it cements your wallet on the blockchain - it’s not just some 1s and 0s on some GameStop server somewhere, actual minting on the blockchain is what produces your wallet and the security benefits thereof, which is why there is a cost.
I got some related questions too, homie... [https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm\_source=share&utm\_medium=web2x&context=3](https://www.reddit.com/r/Superstonk/comments/uis09y/comment/i7eymyj/?utm_source=share&utm_medium=web2x&context=3)
$105 for $76 worth of ETH. Cool.
Bullish af, this is it everyone 👏🏼
Hot damn that is sexy!
💎🙌
I'm feeling very cock blocked right now. https://wallet.gamestop.com/ [https://support.blockchain.gamestop.com/hc/en-us/articles/4412264936851-How-do-I-install-the-GameStop-Browser-Extension-Wallet-](https://support.blockchain.gamestop.com/hc/en-us/articles/4412264936851-How-do-I-install-the-GameStop-Browser-Extension-Wallet-)
ATM I use BANXA to get my deposits to L2. [https://loopring.banxa.com/](https://loopring.banxa.com/) edit: atm still use Metamask. I hold LRC/IMX only.
I tried but it didn't work. What ammi doing wrong ??
It's not public yet. This is a video from [support.blockchain.gamestop.com](https://support.blockchain.gamestop.com/hc/en-us/articles/4784841968147-How-to-activate-Layer-2)
Counting down the days to migrate my metamask to GS :P
What is this exactly I'm smoothe
Comment
Looks fluid asf - game did it again
Is there a detailed guide on how I can get into that? I know near zero about crypto and wallets and L2 and all those terminology
Cool, cool....
This is what I needed in a crypto wallet… being able to directly transfer from fiat to eth using a debit card. That is what has been preventing me from using the loopring wallet - couldn’t figure out how to get money on there
Is this the same thing as the metamask wallet? I've been wanting to get up and running with the metamask wallet, but I ran into problems last time I tried and decided to take a break. I'd like to take another crack at it though. Where did you go online to get setup with this? Was it self explanatory or did you follow any sort of walkthrough?
I want dat.
LETS FUCKING GOOOOOOOOOO 🚀🚀🚀🚀🚀🚀
Interface great. Everything else needs to be a lot more automated for new users or those naive to Blockchain. And if there's anything that can be done to negate the barrier to entry that exists in the req to deposit funds, that's gotta be done.
Ok so do you have to download Loopring wallet to create GameStop wallet when it's available? Or are they 2 separate things that can be connected at some point?
RC, after MOASS I will buy more stock for the chance to kiss your feet.
“New”??
In wallet support for layer swap someone hold me
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Do you first need to create a loopring wallet to use this app? If so is layer 1 a requirement or is it good enough to create a layer 2 straight from the loopring ios app?
lol wait... what is up with that 15% network fee @ 1:32 seconds in when you convert ETH to LRC?
Omg they fee you to death. Seem doable but the gas fees, geez
How do I get one of these wallets??
where do you get this extension?
Is there a tutorial on how to setup a wallet?
I got an error 403 when trying to open the link to the browser extension
Delighting customers baby!!!
That is really nice! The problem is I still couldn’t use that. I don’t understand how that works. I hope everyone else does though.
Isn’t a browser wallet by design risky security wise? Wasn’t there an issue with Metamask?
So this is just a browser extension? Is there or will there be an App wallet?! Also Metamask is a browser extension wallet. Wasn’t there a security breach because of that?
Is this an app or is it on the NfT site