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.
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
Step 1: Buy Bitcoin (BTC) or Ethereum (ETH) at Coinbase
There is no better way to get started with cryptocurrencies than aiming high for the big boys. You have to buy your first shares of Bitcoin or Ethereum by creating an account at COINBASE. The best to do so is by creating a confirmed account in the platform and explore your options.
Get $10 Bonus when you sign up for Coinbase!
- You will be asked to through the process of confirming your e-mail address as well as verifying your identity. It would be best if you went through that procedure at once to avoid any issues before putting money on the platform. Coinbase will ask for personal information such as your home phone number, your address, and proof of your identity using an official document such as a passport or a driver’s license.
- Keep in mind that Coinbase takes some time to verify your ID, but once your account is verified, things can move forward on your end. By confirming your identity, you will have better security on your account, and the people working at Coinbase will be able to help you with easy on any issue you face. You will also be able to trade larger numbers of money on your transactions as well as other perks related to the trading information the goes inside the platform.
- You can also manage your payment options. As we mentioned previously, the sites make it very easy to handle FIAT money to pay for the altcoins you want to have in your portfolio. You can check in your bank account to make direct deposits or withdrawals. While this method is excellent, it takes at least two days to verify it on Coinbase’s end. You can also register your credit cards, debit cards, and even your PayPal account in the buy/sell link located on the top menu.
That’s the first step in buying Terra, once you get your Bitcoin or Ethereum, you can continue to the next step.
Step 2: 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:
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.
- 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::
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.
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.