Wallet activation

Below the video is an article of the step-by-step instructions on how to set up your Loopring Smart Wallet.

Quick Video Guide

In this article, you will learn how to create a mobile Loopring Smart Wallet.

1. Install the Loopring Smart Wallet app

Download and install the Loopring Smart Wallet app on your iOS or Android mobile device. On a mobile device, visit the official website to install: https://loopring.io/#/wallet

You can also search for the app directly on the App Store or Google Play Store using the keywords loopring or loopring smart wallet.

2. Create a new wallet

Once installed, open the app and tap the Create a new wallet button on the homepage.

3. Register with your mobile phone number or email

Enter a mobile phone number or email address to act as your official Loopring guardian. This contact will be used to verify your identity in case you need to recover or lock your wallet.

After you determine if you would like to use a phone number or email:

  • Tap Send Code

  • Slide to complete the puzzle

  • Enter the verification code

Wallet tip: If your mobile phone number does not receive the verification code, register with an email instead or try again later if you have attempted a few times.

4. Enter 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 friend will earn 1,000 points, which may be used to deduct transfer fees in the future. If you don’t have an invitation code, simply tap Skip in the top-right corner.

5. Review the available account types

You have the option to choose between two types of accounts, or both. First, we need to understand the difference between a L2 wallet and a full Loopring Smart Wallet (L1 + L2).

Activate Ethereum and Loopring Accounts (L1 + L2)

  • Provides advanced features and security such as Social Recovery, lock protection, daily limits, and more. There is a one-time gas fee for deploying the smart contract to L1. Activating the full Smart Wallet also provides users with immediate access to L2.

Activate Loopring Account (L2)

  • Functions like a traditional wallet but is deployed directly on L2 - skipping the Ethereum layer and its creation fee. If there is a need to withdraw funds back to L1, you can deploy your L1 smart contract wallet, paying for the creation fee at that time.

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