Welcome to this post, where we are going to see how you can buy LooksRare in an easy, simple and fast way, avoiding high commissions and on reliable platforms. No hassle, so you can own in a few minutes this cryptocurrency, even if you are new to the crypto world.Â
After the guide on how to buy this cryptocurrency, you can find more information about the project, so you can learn more before buying and have as much information as possible.
Where to buy LooksRare
For this, I am going to use two platforms, Binance and gate.io, where you can find all the links just below. You can see below a step by step video of how to do it.
If the video is not available, you will also find a step-by-step in this article so you won’t get lost at any time. If you do not have an account with either platform, you can create one just below to follow the steps in the guide.Â
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
Step by Step
LooksRare can be found in few exchanges, and it is possible to find it also in Uniswap, but you will find high ethereum commissions to buy it, ranging from $50 to $300 for just buying the cryptocurrency. Therefore, the best option is to use the centralized Exchange, such as gate.io that has this cryptocurrency listed.
The first thing we have to do is to deposit funds in our gate.io account. In order to have funds in gate.io, the best option is to send them from another Exchange, since the platform does not have the option to buy cryptocurrencies by credit card or wire transfer. You can check if they have already enabled this option in gate.io and thus save you the step of using Binance. If this is not the case, simply follow the steps that we will now see.Â
For this, I am going to use binance, and I am going to send tether (USDT), since it is the cryptocurrency we are going to need to buy LooksRare.
In my case, I already have USDT in my binance account, if you don’t know how to buy it, once you have deposited your currency, in my case euros, look for the eur/usdt pair or your currency. Click on this pair, in the computer you must go to markets and fiat markets, and with the mobile in markets, next to home.Â
Once in this pair, we must click on sell, indicating the amount we want to change our currency for USDT. Indicate the amount, click on sell and you will have USDT in your balance.Â
With the usdt, go to wallet, spot wallet and click on withdraw.
Now we must go to gate.io, and go to deposit. In deposit we will look for USDT. Here, we click on the tron/TRC-20 network, among all the networks, as it has the lowest commissions and costs only one dollar commission. Copy the address and paste it into binance. Once in binance, enter the address, the tron network, trc-20 and the amount to withdraw the usdt. We confirm with our email and cell phone, and that’s it. Remember to indicate the trc-20 network to save on commissions and not have any problems.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
At this point, you must wait for the USDT to appear in your gate.io balance, it usually takes a few minutes until you have it ready to use. Once they appear, go to my funds, search for usdt or tether and click on trade.
You will see the panel to buy and sell cryptocurrencies, here, look for LOOKS, and you will see the pair LOOKS/usdt. We go down and indicate the amount we want to buy LooksRare. Here, if you want to use all your usdt, just click on the number above and the total will be placed. At the top of Price you will see the current price of the cryptocurrency. With the amount indicated, just click on the buy button.
Sometimes the order may take some time to be executed, if you want to buy instantly, I recommend you to click on the price and indicate +1%, and the same when you want to sell and you want the operation to be executed instantly.Â
Now, you will own LooksRare, and to check it, you can go again to my funds to see the amount you have. Once you want to sell it, we must go back to the same panel as before, but this time we will go to the red sell button. We indicate the amount we want to sell, and click on sell. This way, you can have USDT again and send it to binance to withdraw it to your bank account.
Platform: Gate.io
Min. Deposit: $10
License: Cysec
New cryptocurrencies (ICO’s)
Growing exchange
What is LooksRare?
Buy NFTs (or sell them) to earn rewards.
This is who we are.
Part of being community first means LooksRare rewards, empowers and gives back to the platform’s users and creators.
💎 Earn rewards – Users who buy or sell NFTs from eligible collections earn LOOKS tokens.
🤝 Share platform commissions – 100% of trading commissions are earned by LOOKS stakers.
⚡️ Creators get paid instantly – Creators receive royalty payments at the time of sale.
Not a fork
LooksRare smart contracts are custom-built within a modular system that allows new features to be deployed over time – without compromising security – thanks to standardized signatures that clearly define the scope of execution.
This means we can offer new types of interactions, such as these (to be implemented soon):
Collection offer – Make an offer that covers all NFTs in a selected collection.
Trait offer – Offer to buy any NFT with a specific trait in a collection, e.g. BAYC with gold skin
Multicancel – Cancels multiple open orders in a single transaction.
🦖 Not a dinosaur.
From utilizing some of the most powerful search infrastructure in the world, to implementing standards in the chain such as EIP-712 and ERC-2981, LooksRare’s technical architecture (contracts, database, API, front-end, search) has been designed from the ground up for scalability, speed and security using the latest and greatest technology.
We have also made sure to maintain compatibility for the deployment of ETH scaling solutions when they are ready for the masses.
TLDR: LOOKS token bettors earn 100% of the trading fees at LooksRare.
LooksRare collects a 2% base sales commission (in WETH) on all NFT sales, excluding private sales.
All WETH collected from these commissions are consolidated at the end of each recurring Ethereum block period (approximately 24 hours) and then distributed to LOOKS stakers in a linear per-block format over the next 6,500 block period.
How often can I claim my WETH rewards?
Whenever you want. There is no limit to the number of times you can claim your rewards each day, but beware of the gas fees you are paying to claim.
What if I forget to claim my WETH Rewards today?
Not to worry. As long as your LOOKS remain staked, they will continue to accumulate even if you don’t claim each day. You can leave it until gas rates are low or until you’ve accumulated enough to make it worthwhile to claim.
Why don’t private sales count towards the volume calculation for commission sharing?
Unlike other marketplaces, LooksRare does not charge a commission on private sales, so the volume generated by private sales does not contribute anything to the WETH earned by LOOKS stakers.
Active and passive staking
Each day’s rewards are calculated at the end of the previous period and divided between active and passive stakers before being distributed.
The main difference between active and passive stakers is that LOOKS in passive staking do NOT earn additional LOOKS while staked.
Active stakers are the majority of bettors, whose staked LOOKS chips are fully unlocked.
Passive bettors are bettors whose LOOKS tokens are locked for trading but unlocked for staking: i.e., equipment, treasury and strategic selling tokens.
Platform: Binance
Min. deposit: $10
License: Cysec
Very low commissions
Exchange with more cryptocurrencies
