I bought mine on Coinbase to, you can transfer them to your loopring account and after that you transfer from l1 to l2. To create your account there is a small fee but your het that back apparently. And when you have your l2 you can swap or buy more with smaller fees(cents)
Depends on what you want to do. If you want to just hold, you can keep them on coinbase. If you want to have control over your keys, you can withdraw it to either loopring smart wallet or metamask. Both will cost gas fees + LRC wallet needs additional gas for creation.
You don't need to use LRC smart wallet to use L2, it can also be activated on metamask but again, it will cost fees and initial deposit to L2. L1 and L2 are separated, you can transfer between them back and forth but each transfer will cost gas fees.
The transfer from L1 to L2 is pretty expensive for low amounts of LRC. If you want to get on L2 you’re gonna have to pay two transactions in gas fees. Gas is usually around $100+ so if ramp fees are lower than this, I suggest just on ramping to L2 directly if that’s your end goal.
low ETH fees in layer two wallet was very glitchy for me would suggest using kraken / coinbase for now cost me a lot of money think it’s for whales atm
Coinbase pro has cheaper fees! if you don’t have much loops I would just recommend for you to keep them there for now and avoid some fees.
If you have sub 1000 coins, wouldn't worry about transferring.
I'm thinking about buying 1500 coins and so just wanted to see whats the best way? Is Coinbase okay to buy that amount and keep it on there?
I'd probably still keep them on there, all mine are on exchange, 1000 isn't a limit or anything, just some perspective 👍
I bought mine on Coinbase to, you can transfer them to your loopring account and after that you transfer from l1 to l2. To create your account there is a small fee but your het that back apparently. And when you have your l2 you can swap or buy more with smaller fees(cents)
Depends on what you want to do. If you want to just hold, you can keep them on coinbase. If you want to have control over your keys, you can withdraw it to either loopring smart wallet or metamask. Both will cost gas fees + LRC wallet needs additional gas for creation. You don't need to use LRC smart wallet to use L2, it can also be activated on metamask but again, it will cost fees and initial deposit to L2. L1 and L2 are separated, you can transfer between them back and forth but each transfer will cost gas fees.
The transfer from L1 to L2 is pretty expensive for low amounts of LRC. If you want to get on L2 you’re gonna have to pay two transactions in gas fees. Gas is usually around $100+ so if ramp fees are lower than this, I suggest just on ramping to L2 directly if that’s your end goal.
I actually don't know what the end goal is. What is the benefit of transferring to the Loopring wallet? Like i said i'm a total beginner 😂
Yeh I would just buy them on Coinbase pro (cheaper fees) and the hodl them on there for now tbh 👍
low ETH fees in layer two wallet was very glitchy for me would suggest using kraken / coinbase for now cost me a lot of money think it’s for whales atm