In this guide you’ll get information about where to buy Terra, if you are planning to buy LUNA – You’re in the right place!
Terra (LUNA) is a platform that is designed to boost and improve digital payments or transactions for the users. The idea is to promote easy digital processing and access while supporting stable crypto value at the same time. With its native (crypto) asset, Luna, the platform is expected to create stable-value coins through the platform’s algorithm.
Terra has this ambitious plan of replacing complicated transaction and payment chains (like banks, payment gateways, or credit card networks) with easier blockchain system in a single layer. That’s why it has provided (payment) channels for consumers and also merchants so they can make use of the provided infrastructure. At the same time, the platform also wants to make sure that the value would remain stable and well-maintained.
- Official website: https://terra.money/
- Twitter: https://twitter.com/terra_money
- Telegram: https://t.me/terra_announcements
- Whitepaper: https://docs.terra.money/
Table of Contents
Terra (LUNA) Features
- Luna Token. This is the native (staking) token within Terra protocol. It functions as the foundational asset for entire Terra ecosystem and network. However, the token has another role in collateralizing the platform’s mechanism to secure Terra stablecoins and maintain the stability of the value.
- Staking rewards. This is the incentives for Luna delegators and holders so they have long-term interest for the Luna’s ownership. The rewards come from 3 main sources of seigniorage, taxes, and gas (or also known as compute fees).
- Luna’s flexibility. Luna exists in 3 stages of bonded, unbonded, and unbounding. In the bonded stage, users won’t be able to trade Luna because it is completely locked within the ecosystem. In unbonded stage, Luna can act as regular token so users can transact it freely – and without any restriction.
- Smart contracts. This is the advanced technology whose conditions and terms can be carried out automatically. Every agreement that has been accessed and verified will be recorded and made legal through the contracts.
- DeFi application readiness. The platform has its own stablecoin assets, on-chain swaps, price oracles, automated (monetary and fiscal) policy, and community governance, which makes it ready for DeFi implementation and execution.
- Active and growing users. The community is solid and strong. With the possibility of future DeFi implementation, this is a growing platform that is ready to deliver profitable outcome.
Where to Buy, Sell and Trade Terra aka LUNA
You can basically use debit card, credit card, or even PayPal to buy the Terra (or any other cryptocurrencies). However, the transaction won’t be direct. It’s not like you pay with cash and you get the Terra as the exchange.
With cryptocurrency, things are different. You need to use debit card or credit card to buy the Ethereum or Bitcoin first. After you get the Ethereum or Bitcoin, you can convert it to Terra. It takes several stages and processes. You need to gain access to the reputable cryptocurrency exchange first to make sure that everything is safe and sound.
In general, the process would be:
- You go to the online exchange and buy the Ethereum or Bitcoin
- Find a crypto exchange that supports Terra currency and exchange your Ethereum or Bitcoin with the Terra
- Store your Terra to a secured wallet
That’s the first step in buying Terra, once you get your Bitcoin or Ethereum, you can continue to the next step.
Choosing the Best Cryptocurrency Exchange for Your Investments
After you have your Coinbase account, you need to choose a cryptocurrency exchange to make your deals, then you need to transfer your newly purchased BTC or ETH from your Coinbase wallet.
With so many options out there and so many unbalanced reviews across the internet, it can be quite challenging to choose the right exchange service. Since we are looking out for you and we are interested in making you win money as well, we have taken the liberty of picking ten of the best ranking exchanges you can contact on the internet. For the sake of transparency, we can tell you that our operations keep running each time you click on these recommendations.
These are the best exchanges we can recommend for you to exchange BTC or ETH with Terra:
Binance is the top-ranked cryptocurrency exchange in the market, and it’s the place to go to trade large volumes of digital assets. They established their operations back in 2017 in Malta, one of the few countries to openly embrace cryptocurrencies as a financial instrument. They currently average up to 1.2 billion dollars in trade right now. Binance.com is unable to provide services to U.S. citizens or residents.
- Deposit Methods: Bank transfer (ACH), Bank transfer, Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & 5+ more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & 345+ more
- Trading Pairs: 1189+
Bybit is a leading cryptocurrency exchange offering a secure and efficient trading platform for digital asset enthusiasts. Founded in 2018, it specializes in derivatives trading, including perpetual and futures contracts, with high leverage options. Known for its user-friendly interface, Bybit caters to both novice and professional traders. The platform provides advanced tools, including charting and risk management features, ensuring a seamless trading experience. Bybit also supports spot trading, staking, and passive income opportunities. With 24/7 customer support, robust security measures, and a reputation for reliability, Bybit has become a popular choice for crypto traders seeking innovation and transparency.
- Deposit Methods: Cryptocurrency, Credit/Debit card, Third-party payment services, Peer-to-Peer (P2P) trading
- Fiat Currencies: USD, EUR, GBP, JPY, and 60+ more
- Supported Cryptocurrencies: BTC, ETH, XRP, LTC, DOGE, and 300+ more
- Trading Pairs: 500+
MEXC is a global cryptocurrency exchange platform known for its user-friendly interface, extensive range of listed cryptocurrencies, and innovative features. Established in 2018, MEXC provides trading services such as spot, futures, and margin trading, catering to both beginners and advanced traders. The platform supports a wide variety of altcoins, often listing new and promising projects. MEXC is popular for its high liquidity, competitive trading fees, and robust security measures, including two-factor authentication and fund protection protocols. It also offers staking and earning opportunities through its launchpad and DeFi integration, making it a versatile choice for crypto enthusiasts worldwide.
- Deposit Methods: Bank transfer (ACH), Cryptocurrency, Debit card, Wire transfer
- Fiat Currencies: USD, GBP, CAD, EUR, CNY, RUB, TRY, NGN, UAH, KZT & more
- Supported Cryptocurrencies: BTC, EOS, BCH, ETH, FET, XVG, TRX, NEBL, XRP, NEO & over 2,700 others
- Trading Pairs: Over 3,000
IMPORTANT! Once you are registered to the crypto exchange above, Go back to COINBASE and send your Bitcoin/Ethereum/Tether to your new exchange. Find the LUNA/BTC or LUNA/ETH or LUNA/USDT trading pair and then place the order to buy those pairing cryptocurrencies.
Most likely you’ll find this pair available to you LUNA/USDT – so you need to convert your BTC or ETH to USDT first in order to buy Terra (LUNA)
Step 3: Managing Your Crypto Assets in a Secure Wallet
As your portfolio of crypto assets expand, you will need to have a crypto wallet to keep your goods safe. There are thousands of service providers on that end, and choosing the right one would take an entirely new guide to share some knowledge about this topic.
You can install one of these wallets in your hardware. That way, you can keep your currencies in your devices, such as your desktop or laptop. If you prefer, you can also use an online wallet to keep your holdings safe on the internet.
There are also options to have mobile wallets installed on your smart device, but most of them are lacking in the space department. The final option would be a paper wallet, which is nothing more than a euphemism to get an official legal document that states the content of your wallet and the keys to gain access to them.
For Securing your Terra (LUNA) We recommend you to use hardware wallet which support many cryptocurrencies – Choose between these two: Ledger or Trezor
LEDGER NANO-X: Securely trade on-the-go and manage a large number of assets at the same time, with only one device.
- Secure
- Mobile Friendly
- Easy to Manage
- Supported Coins: 1200+
TREZOR MODEL-T: The next-generation cryptocurrency hardware wallet, designed to be your universal vault for all of your digital assets. Store and encrypt your coins, passwords and other digital keys with confidence.
- Invented for your digital independence
- keeps your keys safe
- Easily back up your entire wallet
- Supported Coins: 1093+
Frequently Asked Questions (Faqs)
Can I Buy Terra (LUNA) with PayPal?
You won’t be able to buy this directly with PayPal. If you are going to use PayPal, you need to buy Bitcoin or Ethereum first and then exchange it with the Terra. You can use LocalBitcoins to find BTC or ETH seller who accept paypal as payment.
Can I Buy Terra (LUNA) with Cash?
You can’t buy it directly, you need to get bitcoin/ethereum first. buying BTC or ETH with cash you can do the following:
- Make sure you have a BTC / ETH wallet before you buy from seller
- Go to LocalBitcoins and find person in your area who sells bitcoin/ethereum and accept cash.
Can I Buy Terra (LUNA) with Skrill?
You can’t buy LUNA directly with skrill but you can buy Bitcoin/Ethereum first using Skrill and exchange it later to Terra. You can buy BTC/ETH with skrill by using these exchanges::
- LocalBitcoins
- Paxful
- Virwox
- SpectroCoin
- Lykke
- Exmo
- Coingate
Can I Buy Terra (LUNA) with Bitcoin?
Yes, you are basically exchanging your Bitcoin with this. Just head to any exchanges listed above, find trading pair LUNA/BTC and begin the transactions.
Can I Buy Terra (LUNA) with Ethereum?
Yes, the process is similar to using Bitcoin: Find a criptocurrency exchange which support LUNA/ETH trading pair.
What Is the Best Payment Method to Buy Terra (LUNA)?
The cheapest way is to use bank account to buy Bitcoins first or to buy the Terra right away. The fastest way is to use a credit card but you will then be charged higher fees.
How to Protect Terra (LUNA)?
Once you have purchased the Terra, transfer it to your wallet. We recommend using hardware wallet, here are some recommendations:
How to Sell Terra (LUNA)?
Find a crypto exchange which allow pairing LUNA with BTC or ETH – convert it back to Bitcoin or Ethereum, then sell your BTC or ETH for a fiat currency.
Can I Mine Terra (LUNA) and Not Buying It?
You can’t mine this actually. It has a completely different network and structure than the regular Bitcoin. The only way to own a Terra is to buy it from a reliable exchange.
Conclusion
Whereas most platforms are focusing on their technologies and token functions, without taking a lot of considerations for adoption, that’s not the case with Terra. With LUNA as the main drive, not only the platform should be able to engage more with apps and financial implementation, but it will also deliver stable value. If you have a future vision for digital platform, then Terra (LUNA) would be the best option.
