How to Buy Loom Network (LOOM) in 4 Easy Steps

Price updated 3 mins ago

Quick Answer:

You can buy Loom Network and have it in your wallet in less than one hour in 4 simple steps:

  1. Find the best exchange that sells Loom Network.
  2. Register a new account.
  3. Fund your account.
  4. Buy Loom Network.
LOOM
$0.11409646656457

These steps are simple if you know where to buy Loom Network cryptocurrency -- but knowing where to buy is the hard part.

Many cryptocurrencies are only offered on less well-known exchanges, and finding the best place to buy Loom Network (LOOM) and then figuring out if that exchange is trustworthy is more than most people - even experienced crypto traders - can handle!

We've done all the hard research for you. Let's get started.

Step 1Find the Best Loom Network Exchange

Ultimately, doing your own research in crypto is the best way to learn the processes of moving your money, finding promising investment opportunities, and buying and selling cryptocurrencies.

We have done years of work to make this as simple as possible for you.

Why You Should Trust Our Recommendations

346

We started with 346 crypto exchanges.

We start by evaluating our comprehensive list of 346 exchanges that we have spent 7+ years and 600+ hours gathering data on.

34

Only

34

of these exchanges sell Loom Network.

We then filter down the entire set of possible marketplaces to only the ones that have active LOOM markets.

21

Only

21

of these exchanges have $100m in daily trade volume.

We then remove any exchanges that don't have adequate trading volume to make buys and sales of all sizes.

6

Only

6

remaining exchanges received a 7/10 Trust Score.

We give each exchange a trust review rating using history, longevity, proof of reserves, and reputation.

1

Apply our editorial review process to rank the remaining exchanges.

We manually review the remaining candidates to declare a winner.

The Winner is Binance.US

VISIT Binance.US Read Review
Reasons we ♥ Binance.US
CRYPTOCURRENCIES: 128

Step 2Register Your New Account

No registration process information available.

Step 3Fund Your Account

Once you have registered or logged in to your account at , there are several funding methods you can use to buy Loom Network cryptocurrency.

You can buy Loom Network on using:

Please select listing to show.

  • Bank Transfer (ACH) 3-5 business days processing time
  • Debit Card Instant processing time
  • Wire Transfer 1-3 business days processing time
  • Paypal Instant processing time
  • Apple Pay Instant processing time
  • Google Pay Instant processing time
  • SEPA 1-3 business days processing time
  • EFTCAD 3-4 business days processing time
  • Interac Instant processing time
  • SGD Transfers 2-3 business days, Same day for a fee processing time
  • 3D Secure Card UK Instant processing time
  • Easy Bank Transfer UK Less than 2 hours processing time
  • Faster Payments UK 1-3 business days processing time
  • Instant Card Cashouts UK Instant processing time
  • PayPal UK Instant processing time

Step 4Buy Loom Network (LOOM)

After registering and funding your account at , you should be able to buy Loom Network after your deposit finishes processing. After you receive your LOOM, make sure to secure it and follow best security practices to avoid losing it scams or hacks.

Best Loom Network Exchanges

Loom Network is also available on these exchanges:


Frequently Asked Questions

Yes, Loom Network is safe to buy. It is listed for trade on some of our top-rated exchanges including Zengo, Binance, Coinbase, Kraken, KuCoin, Bybit, OKX, Gate.io, BingX.

You can buy Loom Network instantly at Zengo, Binance, Coinbase using their instant buy feature or a credit card.

Yes you can buy less than one (1) LOOM. Cryptocurrencies in general are divisible to 16 decimal places.

To buy Loom Network, you will need to deposit funds into your exchange account - which usually has no fees - and then buy LOOM, which will incur a trading or purchase fee; usually 0.1-3% depending on the exchange.

You can buy $1 of Loom Network at Zengo, Binance, Coinbase.

Loom Network Investment & Buying Guide

Diving into the Loom Network, you’re uncovering a hidden gem in the blockchain space. It’s not just another cryptocurrency; it’s a platform that’s pushing the boundaries of scalability and user experience. With its unique infrastructure, Loom stands out as a pioneer in the quest for mainstream blockchain adoption.

You’ve heard of Ethereum’s versatility; now imagine a solution that amplifies this with lightning-fast transactions and seamless app development. That’s Loom Network for you. It’s designed to be the ultimate building block for large-scale online games and social apps, ensuring developers and users alike get the best of both worlds.

As you peel back the layers of Loom, you’ll find a robust ecosystem teeming with potential. It’s a bold move towards a future where blockchain is not just a buzzword but a fundamental part of our digital lives. Let’s explore what makes Loom Network a cryptocurrency worth your attention.

What is Loom Network Cryptocurrency?

Loom Network is a Layer 2 scaling solution for Ethereum that’s been making waves in the cryptocurrency community. It functions as a multipurpose platform, which not only supports high-performance dApps but also allows for the creation of large-scale games and social apps within the blockchain infrastructure. Unlike typical blockchain platforms that can be bogged down by network congestion, Loom Network stands out by providing developers with the capability to run their apps on dedicated sidechains.

How Does Loom Network Compare to Other Cryptocurrencies?

Loom Network’s main distinction lies in its DPoS (Delegated Proof of Stake) consensus mechanism which is less energy-intensive than Bitcoin’s Proof of Work model. This approach not only fosters security and decentralization but also allows for significantly higher transaction speeds at a lower cost. When you compare Loom with Ethereum, it’s apparent that Loom’s sidechains tailor functionality for scalability without compromising on security, a common concern in other Layer 2 solutions. By integrating assets between multiple chains including Bitcoin and Tron, Loom extends its usability far beyond Ethereum’s current capabilities.

Furthermore, Loom Network offers a developer-friendly ecosystem. It gives programmers the tools to build on a blockchain without the steep learning curve, especially with its Solidity support — the same programming language used for Ethereum smart contracts. The focus on creating a seamless user experience, without the lengthy delays associated with blockchain transactions, positions Loom Network as a precursor for mass blockchain adoption.

Given the strategic partnerships Loom has sealed with major crypto players, it’s no wonder there’s growing investor interest. It’s not just another token; it’s a technological foundation poised to support future applications that could change how you interact with blockchain technology. Such potential puts Loom Network on the radar of both developers and investors as a cryptocurrency that’s pushing boundaries and harboring the seeds of innovation.

Loom Network History & Growth

Loom Network was launched in 2018 as an innovative blockchain platform. It quickly gained prominence for its unique multi-chain interoperability and scalable blockchain solutions. As a Layer 2 scaling solution, Loom has been instrumental in addressing Ethereum’s scalability issues. The platform gained traction by facilitating faster transactions and reducing costs significantly.

In its early stages, Loom focused on becoming the go-to blockchain for social apps and games. The introduction of Loom’s sidechains marked a “developer-first” approach, attracting a robust community of blockchain developers. The DPoS consensus mechanism used by Loom set it apart, promising enhanced performance and reliability compared to traditional Proof of Work networks.

Throughout its growth, Loom Network secured strategic partnerships with major blockchain players. These alliances expanded its ecosystem and utility across various chains, enhancing its value proposition. Loom’s native token, LOOM, saw considerable growth in user adoption due to its role in governance and transaction payment within the network.

Steadily, Loom Network has evolved into a platform that bridges multiple chains, supporting cross-chain asset transfers. Its infrastructure now supports high-performance dapps, attracting a broader audience beyond the initial gaming and social application niche. The growth trajectory of Loom illustrates a commitment to fostering mass blockchain adoption while continuously innovating within the cryptocurrency landscape.

Buying Loom Network with Different Payment Methods

Buying Loom Network with a Credit Card

Acquiring Loom Network (LOOM) using a credit card is a quick and convenient method. Most major cryptocurrency exchanges offer this option, where you can simply input your card details and purchase LOOM with potential cashback rewards.

Buying Loom Network with a Debit Card

When you use a debit card to buy LOOM, the transaction reflects the direct movement of funds from your bank account. This payment method is widely accepted by reputable exchanges, ensuring speedy and secure transactions.

Buying Loom Network with Apple Pay

Apple Pay provides an easy and secure way to buy LOOM, combining the convenience of mobile payments with the privacy of not sharing card numbers. Select crypto exchanges and mobile wallets have integrated Apple Pay to streamline your purchasing process.

Buying Loom Network with PayPal

PayPal has become a popular digital wallet for buying cryptocurrencies like Loom Network. Its user-friendly platform allows you to link your account for quick purchases, but be aware of the additional fees that might apply.

Buying Loom Network with a Bank Transfer

Purchasing LOOM with a bank transfer is a common method offering lower fees compared to credit transactions. While it typically takes longer, many exchanges provide a bank transfer option due to its reliability and enhanced transaction limits.

Keeping Your Loom Network Safe

After acquiring Loom Network (LOOM) tokens, it’s crucial to understand how to keep your investment secure. Here’s how you can protect your digital assets effectively.

Software Wallets

Software wallets provide a balance of accessibility and security for your LOOM tokens. They’re downloadable applications that can be installed on your computer or smartphone. Make sure to choose wallets with strong security features like two-factor authentication (2FA) and regular updates. Examples of reputable software wallets include Metamask and Trust Wallet, known for their robust encryption methods.

Hardware Wallets

For enhanced security, opt for hardware wallets. These devices store your LOOM offline, safeguarding them from online threats. Ledger and Trezor are popular choices, offering secure chip technology to protect your assets. Remember that while hardware wallets are less convenient for frequent transactions, they’re deemed the gold standard for long-term storage.

Selling & Withdrawing Loom Network

When you’re ready to sell your LOOM, the process is similar to purchasing but in reverse. Most exchanges offer a “sell” option where you can choose the quantity to sell and the currency you wish to receive. Remember to check the current market rate for LOOM as it can fluctuate rapidly due to market conditions.

After selling LOOM, the next step is to withdraw your funds. Cryptocurrency exchanges typically allow you to withdraw to a bank account or digital wallet. Processing times can vary, so it’s important to review your chosen platform’s withdrawal policy.

Some exchanges charge withdrawal fees that differ depending on the payment method you select. Always review the fee structure to avoid unexpected charges.

For security reasons, ensure you’re withdrawing through a secure connection and verify all transaction details. Exchanges often have additional security measures like email confirmations and two-factor authentication for withdrawals.

Keep track of your withdrawals for tax purposes. Cryptocurrency transactions can be taxable events, and accurate records are essential for reporting gains or losses to the IRS.

If you face any withdrawal issues, customer support is available on most platforms. They can assist with any transaction complications or technical difficulties you encounter.

Is Loom Network a Good Investment?

When you’re eyeing Loom Network (LOOM) as a potential investment, it’s crucial to review its performance trends and market potential. Blockchain scalability and DApp support are key strengths of LOOM that might influence its growth trajectory.

Market volatility is inherent in the crypto sphere, and LOOM is no exception. You’ll need to gauge your risk tolerance against the backdrop of fluctuating prices. The demand for interoperable blockchain solutions is on the rise, and LOOM’s unique proposition could position it well in the market.

Projects on Loom Network benefit from Speed and Security, an attractive feature for developers and users alike. Keep an eye on adoption rates and partnerships—these can be strong indicators of long-term value.

Remember, diversifying your portfolio is crucial, and LOOM could be a component of a balanced investment strategy. Stay updated with LOOM’s roadmap and project developments to make an informed decision.

Customer sentiment and developer activity are also valuable yardsticks when evaluating LOOM’s investment potential. Check social media and crypto forums to gather community feedback and developer engagement levels.

Strategic collaborations and continuous improvement of the Loom Network underscore its commitment to staying relevant in the competitive blockchain space. Monitor news releases and announcements for any strategic alliances that could propel the platform forward.

Regulatory changes could influence LOOM’s performance; keeping abreast of legal developments in blockchain technology can help mitigate risks. Invest time in continuous learning; staying informed is key to navigating the dynamic world of cryptocurrency investments effectively.

Loom Network Price Predictions

When you’re delving into Loom Network (LOOM), it’s crucial to consider expert analysis and market trend studies for price predictions. Historical data reveals patterns that seasoned analysts use to anticipate future movements. Be aware that while predictions can guide expectations, they never offer a guarantee; the crypto market is renowned for its unpredictability. Various analytical methods, such as technical analysis or algorithm-based forecasting, suggest different future price points for LOOM.

Experts often diverge in their predictions due to differing methodologies and market perceptions. For instance, technical analysts might focus on chart patterns and trading volumes, whereas fundamental analysts look at adoption rates and technology upgrades. Online prediction platforms may provide a wide range of forecasted values – be sure to review their historical accuracy.

Projected growth scenarios for LOOM in the short term might be optimistic, reflecting the network’s increasing utility and partnerships. However, formidable market competition and emerging technologies could alter the long-term outlook. Remember, investing in cryptocurrencies like Loom Network involves substantial risk, and it’s advisable to never invest more than you can afford to lose. Stay informed about global economic factors and industry trends as they can significantly impact LOOM’s price.

Additional Info

You’ve explored the dynamic landscape of Loom Network’s cryptocurrency, diving into expert analyses and market trends that shape its price predictions. Remember that the crypto market’s volatility means that forecasts are not set in stone. Short-term optimism around LOOM’s utility and partnerships is palpable, yet the long-term is a canvas painted with broader strokes of market forces and tech evolution. As you weigh the potential of LOOM against the inherent risks of cryptocurrency investments, staying updated on economic and industry shifts is crucial. Armed with this knowledge, you’re better equipped to navigate the ebbs and flows of the crypto world.

Loom Network (LOOM)
Price
$0.11409646656457
24h Change
5.5
7d Change
10.4