If you wonder how and where to buy Loom Network (LOOM) in 2022, this step-by-step guide is for you. We will explain in detail how to buy Loom Network instantly with Debit Card, Credit Card and PayPal.
In this article, we will reveal some important facts about Loom Network and where to buy Loom Network if you are willing to invest in cryptocurrency.
How to buy Loom Network (LOOM) with Credit Card or Debit Card?
Usually, you’re required to buy Bitcoin (BTC) first, and then exchange the Bitcoin for Loom Network on a crypto exchange platform. These are a summary of the steps involved to buy Loom Network cryptocurrency:
- 1. Create Account on Crypto Wallet:
The process begins with creating your cryptocurrency wallet online. Choose a reliable crypto wallet that accepts Bitcoin purchases in your country. We recommend Coinbase as your first crypto wallet.
- 2. Buy Bitcoin with Credit Card, Debit Card or PayPal:
Once your crypto wallet account is active after personal identity verification, you can use your Credit Card, Debit Card and PayPal account to buy Bitcoins instantly.
- 3. Create Account on Crypto Exchange Platform:
Choose a reliable cryptocurrency exchange platform that accepts Loom Network exchange. You need to transfer your recently bought Bitcoin to the exchange platform. We recommend Binance as your first crypto exchange platform.
- 4. Exchange Bitcoin to Loom Network:
The last step is to convert your recently purchased Bitcoin to Loom Network on the crypto exchange platform.
The above steps are the summary of buying Loom Network with a Credit Card or Debit Card instantly. You can check the step-by-step guide in the next chapter for more details.
Step-by-Step Guide: Where to buy Loom Network (LOOM)?
It is quite confusing for every beginner to know how and where to buy Loom Network and other cryptocurrencies. This step-by-step guide will provide the best support about Loom Network buying procedures with your Credit Card, Debit Card or PayPal account.
Create a Coinbase Account
Use this Coinbase Signup Page link or click the image below to get $10 in Bitcoin when you deposit your first $100 to the crypto wallet.
Coinbase is known as the best crypto wallet. It is one of the safest and fastest ways to purchase cryptocurrencies with your Debit Card, Credit Card and PayPal account. It provides a crypto wallet to store all the leading cryptocurrencies, such as Bitcoin and Ethereum (ETH).
Create a Binance Account
Use this Binance Signup Page link or click the image below to join Binance, which is one of the most popular crypto exchange platforms.
Binance is a marketplace where you can trade Bitcoin and Loom Network instantly. It is preferred by most crypto traders because this exchange supports most of the commonly traded cryptocurrencies.
Every Binance user gets a crypto wallet to store multiple cryptocurrencies securely. It is one of the safest crypto wallets with 2-factor authentication, and no unauthorized person can access your crypto assets without your permission. This exchange also provides each user with its patent cryptocurrency/token, which is called Binance Coin.
Whenever you are confused about future Loom Network investments and crypto trading, you can contact Binance to resolve the issue. It offers adequate support to learn the best way to buy Loom Network and other crypto assets.
Buy Bitcoin (BTC) on Coinbase
Now you have to log in to Coinbase to buy Bitcoin with your Credit Card, Debit Card or PayPal account. Coinbase has a great user interface to make the whole purchase process simpler.
Coinbase now supports digital currency buys and sells to residents of some countries, such as the USA, Australia, Canada, Singapore, and many European countries. You can view the List of Coinbase Supported Countries here.
If your country is not supported by Coinbase for buying and selling cryptocurrencies, you can use one of these channels:
- Paxful (for nearly all countries)
- Bybit (for most countries)
- OKEX (for most countries)
- Wazirx (popular in India)
Transfer Your Bitcoin (BTC) to Binance
Log in to your Binance account and then go to Binance Deposit Page.
Search for BTC in the top-left search bar, and then click the Deposit button in the row of BTC.
Then, you have to copy your Bitcoin deposit address string for the next step.
You should log in to your Coinbase account one more time. Then go to Coinbase Send/Request Page and paste the Bitcoin deposit address string into the recipient field. Make Sure the address is correct as you cannot reverse the transaction.
It may take 15 to 30 minutes to complete the transaction. Coinbase will endorse it as “Pending” status. Wait until the transaction completes, and then you will be able to trade your Bitcoin for other crypto assets in Binance.
Buy Loom Network (LOOM) with Bitcoin (BTC)
Now you are all set to buy Loom Network. Go to the Binance Exchange Page, which shows all the listed coins on the right side of the screen.
Search for LOOM in the top right search field to get the trading pair for Loom Network and Bitcoin. Then you can buy Loom Network with Bitcoin in the exchange tab in the lower part of this page.
It may take some time for the order to get fulfilled. Once it is done, you see the traded amount of Loom Network in your account. Now it is up to you whether you keep your Loom Network in the Binance exchange platform or trade Loom Network for another cryptocurrency.
How to buy Loom Network (LOOM) with PayPal?
PayPal is one of the most popular online payment systems, designed to transfer money anytime and anywhere across the globe. Although you can use PayPal to buy many goods and services online, there is no direct way to buy Loom Network with the PayPal payment system in most countries.
However, you can use PayPal to buy Bitcoin first in Coinbase, and then transfer your Bitcoin to Binance. Lastly, you can use convert your Bitcoin into Loom Network in Binance.
Currently, Coinbase only allows residents from a few countries, such as the United States, Canada, the United Kingdom, and many European countries, to purchase Bitcoin with PayPal. You could check the Coinbase PayPal FAQ Page.
You should first find the possible place to buy Bitcoin and then follow the process explained earlier for conversion. Spend your PayPal money to buy Bitcoin and then convert those Bitcoins into Loom Network.
If your region is not supported by Coinbase to buy cryptocurrencies with a PayPal account, you can use one of these channels:
Buy Loom Network (LOOM) with other 350 Payment Methods
It is best to use peer-to-peer exchange platforms (like Paxful), which allows you to buy Bitcoin with your favorite payment method, and then exchange Bitcoin for Loom Network. Peer-to-peer means that you trade directly with the person you are buying from, so no third-party intermediary is involved.
Paxful is the most popular peer-to-peer marketplace in the world, which allows over 350 payment methods for the transaction, including PayPal, local bank transfer, international wire transfer (SWIFT) and gift cards. You can also get a wallet that you can use to send and receive Bitcoin.
[2022 Update] Paxful keeps adding new payment methods, and there are over 450 payment methods to buy Bitcoin (BTC), Tether(USDT) and Ethereum(ETH).
First, you need to open an account at Paxful, and then follow these steps to buy Bitcoin instantly with your favorite payment methods:
- Select payment method
- Find the right offer for you
- Send the payment (which is protected by Escrow)
- Receive your Bitcoin
- Exchange Bitcoin to Loom Network
These are the most popular peer-to-peer exchange platforms for cryptocurrencies :
FAQ: Frequently Asked Questions
Loom Network how to buy and how to sell, these two are the most asked questions asked by beginners. We have already explained the process. Some other common problems include:
- Can I buy Loom Network with Ethereum?
Yes, it is pretty simple to buy Loom Network with Ethereum (ETH). Create an account on Binance and use this crypto exchange to convert your ETH into LOOM. That’s how you can get LOOM by selling Ethereum at a good exchange rate.
- Can I buy Loom Network with Bitcoin?
Yes, you can join a crypto exchange to exchange your BTC for LOOM. The best exchange, such as Binance, also offers a solution for how to sell Loom Network online. You can sell Loom Network for another cryptocurrency such as Ethereum, XRP, Tether, Loom Network, etc.
- How to buy Loom Network with USD / Cash?
Normally, you should first buy Bitcoin and then exchange your BTC for LOOM via a crypto exchange. That’s how you can buy Loom Network online by using USD or cash.
- How do I buy Loom Network?
I always use Coinbase to buy Bitcoin first and then use the purchased Bitcoins to buy Loom Network. The process is a little tricky because you have to transfer your Bitcoin from Coinbase to Binance.
- How to invest in Loom Network?
You can follow this step-by-step guide to purchase Bitcoin first, and then exchange the Bitcoin for Loom Network on a crypto exchange platform like Binance. It is quite similar to trading on the forex market. After investing in Loom Network, you can exchange it with other cryptocurrencies or sell it for cash afterward.
- How can I sell Loom Network?
If you know how to buy Loom Network, selling Loom Network will not be a big deal for you. You can use the same crypto exchange platform to sell your LOOM for cash or other crypto assets such as Bitcoin, Ethereum, Stellar, etc.
Background of Loom Network (LOOM)
Loom Network (LOOM) Market Trend in 2022
In the past few years, the cryptocurrency market has grown immensely. The market has grown because of the increasing popularity of digital currencies. There is a belief that the cryptocurrency market will continue to grow in the future.
In 2022, it is expected that the market will be worth over $2 trillion, which is quite a significant increase from the present day. According to experts, the trend of cryptocurrencies will continue to rise in the coming years. Many experts predict that Bitcoin, the first cryptocurrency, will continue to rise until it reaches $100,000.
How to securely store Loom Network (LOOM)?
The best way of protecting Loom Network is by storing your crypto assets on a hardware wallet. The LOOM hardware wallet can prevent hackers from accessing your crypto assets against all kinds of threats. So, let’s learn how to trade Loom Network, exchange your coins, and store them on a hardware wallet.
What is Loom Network hardware wallet / token?
A Loom Network hardware wallet is a specialized hardware device designed to store your private keys. This wallet is much safer than ordinary software wallets offered by crypto exchanges. Once you learn how to purchase Loom Network and buy it, you can store them in your hardware wallet. The Loom Network hardware wallet is also called Loom Network ledger wallet or Loom Network token.
Your private keys will be stored in a protected area of microcontrollers. You cannot transfer these keys out of your wallet. I learned about hardware wallets when I was searching for where can I buy Loom Network. It appeared as the safest way of storing and carrying crypto assets, and fortunately, there is a hardware wallet for Loom Network.
Do you need a hardware wallet?
The market is flooded with crypto exchanges offering a secure software wallet to store crypto funds. You might wonder why should I buy Loom Network hardware wallet when my exchange platform is offering a secure crypto wallet. Many people who are new to crypto trading buy Loom Network with Debit Card and then use a software wallet. So, why can’t you also use the same wallet?
You may be aware of some high-profile hacks that occurred on some of the world’s leading crypto exchange platforms. The regular cryptocurrency news also includes attacks carried out on individual crypto traders. Suppose you buy Loom Network instantly and store it on your software wallet, it will be a relatively easier target for hackers.
Many people have dropped the plan of Loom Network investing in crypto-assets because of hacking incidents. How do you buy Loom Network if you cannot keep your keys safe? Whatever cryptocurrency you buy, you essential purchase a private key. This key comprises essential information which is used to control the transaction of that cryptocurrency on the Blockchain.
A hardware wallet is designed to offer full isolation between your insecure computer or smartphone and your private keys. An unauthorized person will never gain access to your private keys.
Buy the best Loom Network wallet
Ledger Nano S hardware wallet is simple to use. It means you should be able to control your ERC-20 tokens directly from your PC. It should connect with external wallets to enable the transfer of crypto funds. Whenever you make Loom Network purchase, the wallet allows you to add new keys in the designated place.
If you do not want to lose your valuable crypto assets and keep the hackers away, try this hardware wallet – Ledger Nano S. We have already explained the fastest way to buy Loom Network, so get your LOOM coins. Now, choose the best wallet for Loom Network that supports multiple crypto assets. You should be able to install 3-20 applications, and this wallet must support BTC, ETH, EOS, Stellar, etc.
Ledger Nano S Loom Network wallet will protect your crypto assets against all kinds of online and offline threats. Invest in Loom Network hardware wallets only if it is secure. Look for the wallet with a backup feature to access your cryptocurrencies when you lose your hardware wallet. So, buy Loom Network with bitcoin and store your LOOM safely on Ledger Nano S.
People’s growing interest in cryptocurrency proves fiat currency is no longer the only mean of financial transactions. Although electronic payments and digital payments are making things easier, these are centralized solutions. Cryptocurrencies provide many benefits to every potential user, such as privacy and lower transactional fee.
Many people buy Loom Network cryptocurrency to take advantage of crypto transactions. Millions of people are using cryptocurrencies for shopping, paying bills, and other demands. Also, there are more and more people treat cryptocurrencies as a promising investment, So, if you are wondering when to buy Loom Network, the answer is Now!
We have already explained how to buy Loom Network with Credit Card, Debit Card or PayPal in 2022. We hope everyone can learn how to buy Loom Network online and store them in the safest hardware crypto wallet.