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What is Loom Network?

Loom Network (LOOM) is a multi-chain interoperability platform optimised for the scaling of large-scale smart contracts and decentralised apps (dApps).

  • Developers can integrate assets from major chains, as well as build a dApp only once and offer it to users on all platforms simultaneously.
  • Built on top of Ethereum, Loom makes scaling dApps faster and easier using Delegated Proof of Stake (DPoS) sidechains for scalability with the security of Ethereum mainnet.
  • LOOM token is used for staking, transaction fees, and bonding. Developers also use the token to pay for dApp hosting on Loom Network.
The goal of the platform is to provide developers with the scalability and usability to build high-performance user facing applications.

How do I swap Loom Network?

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Select the quantity of Loom Network you would like to swap.
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Select the coin you would like to swap with.
Confirm & swap
Click 'Swap' to confirm. Your coins will arrive in your wallet within minutes!

Learn more about Loom Network

Why Should I Trade LOOM with CoinSpot?

CoinSpot is Australia’s largest cryptocurrency platform that has been operating since 2013 and is trusted by over three million Australians. We make it easy to buy and sell Loom Network no matter what your trading experience is. Unlike other international and Australian Loom Network exchanges that require experience and technical knowledge, we make the entire trading process simple for beginners and advanced traders alike.

CoinSpot provides layered security and advanced support systems so you can buy Loom Network with peace of mind and the comfort knowing support is available everyday to help. There are multiple trading options on our exchange that allow you to conveniently trade Loom Network how you want to. You will feel familiar with CoinSpot from the beginning and have access to everything you need to buy, sell and manage your cryptocurrency.

How do you store your Loom Network?

Storing on CoinSpot

Due to CoinSpot’s flexible Multicoin Wallet, storing your digital currency is simple. Just by creating your CoinSpot account you will automatically be given your own unique wallet where you can store your Loom Network for free.

Cold Storage

If you are holding Loom Network as a long term investment, you can utilise a cold storage wallet and send your coins there from your CoinSpot account. A cold wallet is a wallet which is completely offline (not connected to the internet) and is a popular option amongst people who prefer to hold their coins, rather than regularly trade.

Frequently asked questions

Right here! CoinSpot offers traders a fast, simple, easy and secure way to buy Loom Network. We are trusted by over three million customers and with just a few clicks, you can exchange Australian Dollars or other cryptocurrencies for Loom Network. CoinSpot helps users easily buy crypto, build their portfolio, make secure purchases and invest in this exciting asset class.
Loom Network has a floating exchange rate – meaning its price is set by individual vendors based on available supply and demand. As Loom Network is a globally traded asset, the price can vary across the world based on order books, volume, exchange rates and service fees of each individual Loom Network exchange.
Cryptocurrency differs from other traditional trading options as you can make fractional purchases, meaning you don’t have to buy whole coins. This means you can start investing in Loom Network & other digital currencies with as little as $1!
Practicing safe investing is best treated as a shared effort. CoinSpot provides a list of security tips that we recommend putting into practice to ensure you’re keeping yourself secure. Step one to buying Loom Network safely however is using a reputable exchange such as CoinSpot. We are the first Australian exchange to be awarded the internationally recognised ISO 27001 certification for security management and processes. Operating since 2013, we’re proud to say we’re Australia’s most trusted exchange. Start your Loom Network portfolio here.
Yes! With CoinSpot you can convert your Loom Network to AUD (Australian Dollars) instantly. You can also withdraw AUD to your Australian bank account for free with no withdrawal limits.

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