How to Create the Loopring Wallet

Loopring introduced guide for Loopring Wallet, the world’s first Ethereum smart wallet powered by a zkRollup.

Users no longer need cumbersome private keys and mnemonics. Instead Loopring offers better security with the tools you already have: 1) a phone and 2) friends and family. Users can ensure their assets are secure by choosing their trustworthy security team.

With the Loopring Wallet, users only pay 1% of Ethereum Layer-1 fees, for a payment experience comparable to Visa and PayPal.

In this guide, they will teach you how to create the Loopring Smart Wallet.

1. Install Loopring Wallet
Download Loopring Wallet on either iOS or Android.

2. Open the Loopring Wallet app and click ‘Create Wallet’ on the homepage

3.Register with a mobile number or email

Registering with either a mobile phone number or email address can help Loopring’s Official Guardian verify your identity and message you when the wallet has been created.

Enter your mobile phone number or email address, click [Get verification code], and then enter the verification code. (Note: if your mobile phone number does not receive the verification code, register with an email instead).

4. The Invitation Code

If you have a friend’s invitation code, you can enter it as shown below. Once the wallet is successfully created, both you and your friends will earn 1,000 points, which can be used to deduct transfer fees in the future.

If you don’t have an invitation code, just click [Skip] at the top right.

5. Choose your wallet name and wallet address

The wallet name you create is unique on the entire network and is valid forever. The wallet name here is actually the ENS domain name provided by Loopring Wallet, which can also be inherited and transferred in the future.

6. Select Payment Method

Before you can create your wallet, you’ll need to pay the wallet creation fee (which is an Ethereum transaction).

Loopring supports five tokens for payment: LRC, ETH, USDT, USDC, and DAI.

7. Assets are confirmed

After you have submitted your payment, you’ll need to wait for the transaction to be confirmed on-chain in order for your assets to arrive.

8. Wallet Creation

The Loopring Wallet is a smart contract and like any other smart contract, it takes time to validate. Once your assets have been confirmed on Ethereum, your wallet is created and you’ll receive an SMS or email notifying you it’s live.

9. Activate the L2 account

Now that your wallet is live, simply click to activate your L2 account on the homepage to start benefiting from L2’s gas-free and lightning-fast transactions.

You’re on the Future of Ethereum!
Congratulations! Welcome to the Loopring Wallet experience and say goodbye to cumbersome private keys and seed phrases — but still retain 100% control over your assets.

What is Loopring?

Loopring is an Ethereum zkRollup protocol for scalable, secure exchanges & payments. Loopring builds non-custodial, high-performance products atop our layer-2, including the Loopring Wallet — a mobile Ethereum smart wallet, and the Loopring Exchange — an L2 orderbook and AMM DEX.

📰 INFO:

https://medium.com/loopring-protocol/guide-how-to-create-the-loopring-wallet-df3ed6b1458d