LootBot (LOOT) is a cryptocurrency token native to the LootBot protocol, a Telegram bot designed to automate and streamline airdrop participation across various blockchain networks. The token provides utility to holders, including discounts on subscription fees and revenue sharing, and has a total supply of 10,000,000 with a 5% buy/sell tax applied to each transaction.
The crypto LootBot (LOOT) is a token associated with a Telegram bot designed to automate crypto airdrop farming. Here's how it works:
Creating Wallets: Users can create up to 10 wallets using the LootBot on Telegram, which allows them to interact with various protocols like zkSync, Layer Zero, Scroll, and Linear. This process makes them potentially eligible for crypto airdrops.
Automatic Transactions: Once wallets are created, the bot performs automatic transactions on these protocols, saving users time and effort compared to doing these steps manually.
Token Benefits: The LOOT token accrues fees and revenue to its holders. Additionally, holding LOOT can reduce the cost of using the paid version of the bot by 50% or be staked to earn yield from other users.
Exchanges: The LOOT token can be bought from exchanges such as Poloniex, CoinEx, LBank, and BingX.
Airdrop Rewards: By using the LootBot, users can receive airdrop rewards like the $WEN airdrop, and more are expected as projects distribute their tokens.
Overall, the LootBot and its associated token, LOOT, provide a streamlined and automated way to participate in crypto airdrops, making it easier for users to potentially earn rewards.
To store LootBot (LOOT) tokens securely, it is recommended to use "Cold Wallets" which are offline and not connected to the internet. There are two types of cold wallets:
Paper Wallet: This is a simple, offline wallet created by generating a public and private key using a program. The keys are printed in the form of QR codes, which can be scanned for future transactions. The paper wallet is stored in a secure place.
Hardware Cold Wallet: This is a physical device, such as a USB drive, where you can store your cryptocurrency. Only the person with the USB drive can access the assets. Hardware cold wallets are preferred by many users, especially for storing large amounts of coins or tokens.
To buy LootBot (LOOT) tokens, follow these steps:
Choose a Crypto Wallet: Select a reliable crypto wallet that supports your preferred payment method and policies. Popular options include Coinbase Wallet, MetaMask, and TrustWallet. Download the wallet extension on Google Chrome or the wallet app from the iOS App Store or Google Play.
Set up Your Wallet: Create an account, provide personal information, and set a strong password. Note down your Secret recovery phrase or Seed Words carefully, as they serve as a precautionary measure in case you lose your wallet.
Buy Your Base Currency: Choose a cryptocurrency exchange platform and buy a base currency, such as Bitcoin, Ethereum, or Tether. This will be used to trade LOOT.
Transfer Funds to Your Wallet: Withdraw your base currency to your crypto wallet by providing your wallet address and the amount you want to transfer.
Choose a Decentralized Exchange (DEX): Select a DEX that supports your wallet, such as Pancake Swap. Compare trading fees and liquidity before making a choice.
Buy LootBot (LOOT) with Your Base Currency: Connect your wallet to the DEX, select LOOT, and enter the amount you want to trade. Be cautious of market trends and diversify your portfolio to minimize risks.
- If LootBot (LOOT) Is Not Listed, Use Smart Contracts: If LOOT is not listed on the DEX, use bscscan or etherscan to locate the smart contract address. Copy and paste it into the DEX to complete the transaction, ensuring you have the correct contract address to avoid scams.
Remember to research and understand the associated risks before investing in LootBot (LOOT) tokens.