# Loopring Smart Wallet — user reviews > 242 indexed App Store user reviews of Loopring Smart Wallet by Loopring HK Technology Limited, rated 4.85/5 from 1,696 ratings. - Source: https://appshunter.io/ios/app/loopring-smart-wallet/id1550921126/reviews - App overview in markdown: https://appshunter.io/ios/app/loopring-smart-wallet/id1550921126.md - Rating breakdown: 5★ 1,616 · 4★ 11 · 3★ 11 · 2★ 7 · 1★ 51 ## What do users think of Loopring Smart Wallet? Overall sentiment: positive **Pros** - 🚀 Cheap/no gas fees - 🔒 Secure wallet with guardian feature - 👍 Easy to use and intuitive interface - 🚀 Fast transactions on Layer 2 - 👍 Allows self-custody of crypto assets - 💡 Innovative Layer 2 technology - 🚀 Seamless fiat on-ramp - 👍 Constantly improving with new features **Cons** - 💰 High initial setup cost - 🐛 Activation/verification issues - 🐛 Wallet migration problems - 🐛 Occasional app crashes/bugs - 💰 Fees to move between L1 and L2 - 👎 Lack of transparency around fees - 👎 Poor customer support **Commonly reported bugs** - Activation process not working - Wallet migration issues - App crashes and freezes **Most requested features** - Easier L1 to L2 migration - More educational resources for new users - Improved analytics and earnings tracking - Fiat off-ramp functionality - Ability to import existing wallets ## Newest reviews (15 of 242) ### 4/5 — Easy *2024-06-07, version 3.2.21* Direkte Verknüpfung mit Base wäre super 👍 ### 2/5 — L2 never activated. L1 did but L2 won’t activate. *2024-01-07, version 3.1.25* L2 won’t activate. ### 2/5 — Be Your Own Beggar *2023-11-30* This is a basic L2 smart contract wallet. You will assume not insignificant fees (in ETH and/or LRC) to create a smart contract to use the wallet. You will assume not insignificant fees to move to and from L1 to L2, including through 3rd party networks like off ramp. There will be impermanent loss on most of the investing opportunities, with the exception of staking. LRC staking reward is below 1%. The fun part: You get to be a part of a community that had to watch the founder beg daddy Elon for help for two days because his Loopring official Twitter account was hacked. For two days that account sent out scam links wallet links. Days before that the founder is begging daddy to look into LRC and to use the Twitter platform to grow the community. ### 5/5 — Best crypto wallet *2023-11-17, version v3.1.19* With cold storage still being an uncertainty in terms of perfect security, loopring smart wallets guardian feature solves the problem of security with crypto. ### 5/5 — This is the way! *2023-11-17, version v3.1.19* Be your own bank! 💎🌀👾🩵 ### 5/5 — Wallet user and owner *2023-11-17, version v3.1.19* I’m not sure what the random complaint about cost to open the wallet it cost me just under $5 it’s. Beyond my understanding others paid much more seems to by lies anyway so far a pleasant wallet experience I wish you could hold a cash balance on the wallet as well that be cool ### 5/5 — Great DeFi Crypto Wallet *2023-11-17, version v3.1.19* Great to have and use! Looking fwd to future improvements and project integrations. ### 5/5 — Macht vieles besser als „gewöhnliche“ Wallets *2023-11-17, version v3.1.19* Generell funktioniert das Wallet für alles auf und rund um die Etherium Chain. Darüber hinaus sind viele intelligente Lösungen dabei, die es für mich zum besten wallet machen. Das wichtigste Feature für mich: recovery des wallets durch ein Social Feature und Sicherung des Wallets in die iCloud. ### 5/5 — Great wallet lots of useful features *2023-11-17* Love my loopring wallet. Features are great, many different earn options, and the team behind loopring is very responsive and helpful within the community. Only gripe is on/off ramp. Which says more of legacy banking than it does about the loopring team. Big Business is trying to create choke points to slow inflow to the ecosystem in the hopes of it(cryptocurrencies) dying off. But IYKYK, and the US dollar will eventually fail due to money printing and inflation. How quickly this happens is anyone guess, but I’m comfortable “ being my own bank “ knowing loopring is there for support.. Great work team, and keep pushing those improvements. ### 5/5 — Be your own bank! *2023-11-17, version v3.1.19* This is the best web3 wallet! ### 5/5 — The best layer 2 *2023-11-17, version v3.1.19* Social recovery make this useable for any level of crypto knowledge . Layer 2 transactions are basically free. Now they have Cian leveraged ethereum staking which pays on average 10%. You get 3.5% from centralized exchanges ### 5/5 — Incredible App *2023-11-17, version v3.1.19* Super functional app full of utilities that keep growing. Looking forward to where the team takes this as mass adoption comes around. ### 5/5 — Best wallet! *2023-11-17, version v3.1.19* Best defi wallet on the store ### 5/5 — Proper self custody *2023-11-17, version v3.1.19* Great easy to use app that is constantly being updated for more usability. Proper self custody of my ETH based crypto, without the risk of losing a device of keys. ### 5/5 — Be Your Own Bank *2023-11-17, version v3.1.19* I love my Loopring Wallets. I think it’s awesome that I can be my own custodian & actually own my assets. I find signing in with my Loopring wallet so much easier & secure than the usual email/password tradition. Let’s go Loopring! ## Most critical reviews (10 lowest-rated) ### 1/5 — Genuinely disappointed *2025-06-02, version 3.2.42* I’ve held this coin since before the creation of this wallet and the slow drain that has been years of watching fake promises and a roadmap to zero has given me the valuable lesson to never trust terrible organizations like the one here. The developers and the fearless leader wang that ram away to create another money pit should be ashamed of themselves. So much promise and nothing brought to the table. Maybe have a hard look at your lives and the time and money you wasted could’ve actually created something great, yet here we are ### 1/5 — ZERO help from developers *2025-02-03, version 3.2.39* I’ve had a Loopring L2 account for a year and a half. I have submitted tickets for the entire time because I cannot get to my assets because I can’t “Activate” my account. I sent a bunch of assets to my wallet, so I have assets in there, but I can’t get to any of my crypto because Loopring will not reply to me via the ticket system or via social media. At this point I think they are just ghosting me to keep my money. ### 1/5 — Abandonware *2024-10-11, version 3.2.25* These guys rug pulled silently and then abandoned their entire project ### 1/5 — 2 dollars I won’t get back *2024-09-24, version 3.2.34* Sent the required amount of ETH to activate an L2 account and it put it into the L1 account which wasn’t activated. Now my ETH is stuck in there unless I pay 30 dollars to activate an L1 account. ### 1/5 — So complicated *2024-02-20, version 3.2.8* BYOD is never going to take off like this. If your parents or grandparets can't use it, it is too complicated. Simplfy it or the banks win. ### 1/5 — Points *2023-05-29, version 3.0.13* Stop changing where we have to go to keep our streaks. It’s almost like you are doing it on purpose… ### 1/5 — yikes *2023-04-25, version 3.0.10* all the five stars from bagholders trying to prop up this app and let all the newcomer buy the token so they dump it next bull run haha ### 1/5 — Loopring is a scam *2022-10-10, version 2.0.41* Like the tittle says, loopring is a scam. Daniel wang and byron cashed out slowly and left us bag holders. They focus on taiko now with loopring’s investors money. Total scam by daniel ### 1/5 — Can’t create wallet *2022-07-25, version 2.0.32* Using iphone SE 2022, ios 15.5. The app will not allow the creation of a wallet as once you are asked to enter a passcode the number pad remains in place and there is no way to select the ‘confirm’ button below. Pointless ### 1/5 — Head of PR is a liar *2022-04-03, version 2.0.17* Byron promises and hypes deadlines then ghosts users. Wallet launch is a mess with issues with on-ramp. No off-ramp yet. Shills abound. Also, spyware as your info (KYC, license etc) is stored permanently in China on cloud storage. Dodgy as hell. ## Most praised reviews (10 highest-rated) ### 5/5 — The future is here *2024-04-30, version 3.2.16* See you later banks ### 5/5 — Loopring is the future *2024-04-29, version 3.2.16* I can’t say enough good things about this project and the community behind it. 🖤 ### 5/5 — solid wallet - easy to use *2024-03-19, version 3.2.9* Been using loopring for 3 or so years. no complaints, better than i ever expected when i started using it years ago. Thanks loopring team! ### 5/5 — Take Control and Be Your Own Bank *2023-12-10* Loopring Smart Wallet is an easy-to-use crypto wallet built on L2. This means very low gas fees for transactions taking place on L2, but with the added security of the Ethereum mainnet. This app allows you to take full self-custodial control of your crypto and NFTs and the team is consistently churning out new dApps to explore, though I suspect there is much to come on that front. The “Earn” option in the wallet allows you to leverage your crypto in various ways and with varying degrees of risk. I personally enjoy partaking in the LRC/ETH AMM pool and in CIAN leveraged Eth staking. My only suggestion for the team would be to make it easier to see your earnings for AMM pool participation and others. As it stands now, you are able to see your total earnings with a breakdown in the various formats. I’d like to see these earnings broken down into each individual “subscription,” allowing users to more easily identify appropriate exit points from their subscriptions; I.e. I see I’ve made 10 LRC and .000x ETH during my time in the AMM pool, but I can’t see what my CURRENT pool tokens have made, or what the value of them was when I entered. I may have withdrawn all of my LP tokens 6 months ago and added new ones 2 months ago, but the total rewards reflect the history of my participation in that pool in its entirety. ### 5/5 — Thee digital wallet *2023-11-30, version v3.1.20* Easy to use wallet! Team is always listening and improving. Radical ### 5/5 — The future of crypto wallets…. *2023-11-19, version v3.1.19* This feels like a huge jump in user friendly and easy to navigate apps to hold crypto. Lots of options and super safe. Constant improvements being added all the time the future is so bright for loopring. ### 5/5 — Simple and easy to understand. *2023-11-19, version v3.1.19* I use this wallet everyday! The earn function is awesome, it’s like having the derivatives market for cryptocurrencies. Don’t forget to check in and earn points that make upgrading and other benefits free if you stack up some points by simply clicking the lil bell. The only wallet I use everyday. ### 5/5 — Great app to use for your Crypto *2023-11-18, version v3.1.19* Security and easy to use ### 5/5 — 现在恢复钱包太难了 *2023-11-18, version v3.1.19* 恢复钱包的时候希望是两个守护者+官方守护者就可以了。因为现在身边用的人不多，有点困难 ### 5/5 — Be your own bank *2023-11-17* I’ve been using Loopring Wallet since the beginning! So many changes during that time has made it so easy to use. I love how my NFT collection is easily accessed, stored, and distributed! I had a fantastic experience with the support team recently when I needed to recover my wallet. They were incredibly helpful during that time. I wouldn’t use another wallet. --- *Data collected daily from the US App Store and indexed by [AppsHunter](https://appshunter.io/). User reviews are verbatim App Store reviews. Ratings, prices and chart positions refresh continuously; this snapshot is from 2026-06-10.*