Terra Luna is a relatively new blockchain and cryptocurrency that checks a lot of boxes for cryptocurrency investors. It lets you stake your cryptocurrency to earn interest, makes it easy to create new stablecoins, and is quickly garnering attention that is pushing up the price of the Luna token. If you want to learn how to buy Terra Luna, this guide is for you.
Weโll explain in detail how you can buy Terra Luna today and review the top crypto exchanges that offer Luna. Weโll also help you decide whether Terra Luna is a good investment and cover the coinโs recent price movements. So, read on to learn how to invest in Terra Luna!
How to Buy Terra Luna โ Quick Steps
Want to buy Terra Luna right away? You can get started in just 4 simple steps:
- ๐ณStep 2: Deposit. eToro requires a minimum deposit of $50, which you can make by credit card, debit card, PayPal, Neteller, Skrill, or bank transfer.
- ๐Step 3: Search for Terra Luna. Search for LUNA and click Trade when it appears to open a new order form.
- ๐Step 4: Buy. Enter the amount of Terra Luna you want to purchase, then click Open Trade.
Where to Buy Terra Luna
In order to buy Luna coin, youโll need a crypto exchange that offers this new cryptocurrency. Given its popularity, most major exchanges now offer Terra Luna. So, you can pick the best exchange based on price, investing tools, ease of use, and more. Weโll review our 4 favorite crypto exchanges you can use to invest in Terra Luna today.
1. eToro โ Overall Best Exchange to Buy Terra Luna
eToro is our top-rated crypto exchange that you can use to buy Terra Luna token today. eToro is one of the only major exchanges that lets you buy Terra Luna with a credit card or debit card without additional processing fees. It also supports e-wallets like PayPal, Neteller, and Skrill to make it easier to buy cryptocurrency.
Another benefit to eToro is that it has relatively low trading fees. You can buy Terra Luna for a 2.90% fee per purchase. While that might sound high at first compared to other exchanges, itโs important to note that eToro doesnโt charge anything when you sell.
While eToroโs fees are attractive, itโs the investing tools this exchange offers that really set it apart. eToro offers user-friendly technical charts, expert insight into the crypto market, and a crypto news feed to help you stay on top of the market. In addition, the platform has a built-in social network where you can connect with other crypto investors and share trade ideas. Finally, for investors who want to take a hands-off approach to trading crypto, eToro offers copy trading.
eToro lets you store your Terra Luna right inside your exchange account, but you can also transfer coins to the eToro Money crypto wallet for safekeeping. The wallet app is free and easy to use, and it integrates seamlessly with the eToro exchange for simple coin swapping.
eToro is also regulated by the UKโs Financial Conduct Authority, the SEC, ASIC, and CySEC and offers 24/7 customer support.
Pros:
- Buy Terra Luna with a credit or debit card
- Accepts PayPal payments
- Built-in social trading network
- Supports copy trading for crypto
- 24/7 customer support
Cons:
- Moderate purchase fees (but no selling fees)
- Small withdrawal and wallet fees
Cryptoassets are a highly volatile unregulated investment product.ย
2. Crypto.com โ Lowest Fees to Buy Terra Luna Token
Crypto.com is another great place for where to buy LUNA coin. At Crypto.com, you can buy and sell more than 250 popular cryptocurrencies with extremely low transaction fees. Youโll pay nothing to deposit crypto to Crypto.com and nothing when you make crypto-to-crypto swaps.
If you want to buy Terra Luna with a credit card, transaction fees are 2.99%. While thatโs a lot more than eToro charges, itโs very affordable compared to other top crypto exchanges.
Crypto.com also stands out for offering a huge number of different ways to interact with Terra Luna once you own coins. You can store them in Crypto.comโs mobile wallet, which is available for free for iOS and Android devices. You can also lend out Terra stablecoins to earn up to 3% APY. If you want to earn even more, Crypto.com offers a Visa rewards crypto credit card that pays out up to 8% on your transactions.
Pros:
- Trade 250+ popular cryptos
- Relatively low transaction fees
- Integrated lending platform with 3% APY
- Visa rewards credit card with 8% crypto back
Cons:
- Doesnโt accept PayPal or e-wallets for payment
Cryptoassets are a highly volatile unregulated investment product.ย
3. Coinbase โ Most Beginner-friendly Exchange to Buy Luna
Coinbase is one of the most beginner-friendly crypto exchanges for newcomers to the world of digital currency. At Coinbase, all you have to do is select the cryptocurrency you want to buy, select how much to purchase, and enter your payment details. Itโs incredibly simple and makes getting started with Terra Luna that much faster.
The catch, however, is that Coinbase has some of the highest instant buy fees of any major exchange. Youโll pay a 3.49% processing fee when you buy Terra Luna with a credit card or debit card, and a 1.49% fee when you pay with a bank account. Coinbase does offer spot trading, which is significantly cheaper, but itโs 0.50% transaction fees are still higher than most competing services.
If youโre willing to overlook Coinbaseโs prices, the exchange has a lot of other things going for it. Coinbase has one of the most secure and trusted software wallets around, and it has a built-in marketplace of decentralized apps to help you make the most of your cryptocurrency. Coinbase also offers crypto lending, borrowing, and staking. You cannot lend out either Terra or Luna at this time, but you can stake your Luna to the Terra blockchain to earn rewards.
Pros:
- Very easy to use
- Accepts credit and debit cards
- Supports staking Luna
- Integrated crypto wallet
Cons:
- Very high processing fees
- Higher than average spot trading fees
Cryptoassets are a highly volatile unregulated investment product.ย
4. Binance โ Best Exchange for Trading Terra Luna
Binance is our exchange of choice if you want to actively trade Terra Luna for a profit. Thatโs because Binance offers both an extremely advanced crypto trading platform and some of the lowest crypto spot trading fees around.
The Binance trading platform offers customizable technical charts with dozens of built-in indicators. You can set price alerts, monitor crypto market news, and even track the Terra Luna order book to stay ahead of changes in trading momentum.
On top of that, Binance charges just 0.10% per buy and sell order. Thatโs already one of the lowest transaction fees weโve seen, but you can also qualify for discounts based on trading volume or for holding BNB, Binanceโs native cryptocurrency.
Binance has numerous features for decentralized finance, too. You can stake Luna, lend out your Terra stablecoins, and run decentralized apps inside the Binance Trust wallet.
Pros:
- Comprehensive crypto trading platform
- Access the order book for Terra Luna
- Fees from 0.10% per spot trade
- Supports staking Luna
Cons:
- Not always straightforward for beginners
Cryptoassets are a highly volatile unregulated investment product.ย
What is Terra Luna?
Terra is a blockchain platform designed to create stablecoin cryptocurrencies. These are currencies that are price-stable, making them suitable for payments and for a wide range of decentralized finance applications.
The Terra blockchain includes two distinct cryptocurrencies: Terra and Luna.
Terra is a stablecoin that tracks a particular fiat currency. In fact, there are multiple versions of Terra. TerraUSD tracks the US dollar, TerraGBP tracks the British pound, and so on for dozens of fiat currencies.
Luna is the governance token for the Terra blockchain, as well as the coin that is mined when transactions are validated on the Terra blockchain.
Importantly, Luna helps keep the prices of Terra stablecoins consistent. When a Terra stablecoin โ say, TerraUSD โ climbs above the value of fiat USD, users can burn Luna to mint Terra. That increases the supply of Terra, driving the price back down until it matches the USD price. When Terra falls below its target fiat currency, users can burn Terra and increase their supply of Luna.
This system of using two cryptocurrencies to balance each other out makes Terra Luna more stable than comparable stablecoins.
Is Terra Luna a Good Investment?
Terra Luna has gained the attention of crypto investors, but is it a good idea for you to invest in Terra Luna? Here are some of the key reasons why this digital asset stands out and why many investors are looking to buy this cryptocurrency right now.
Favorable Price Momentum
Image Source: CoinMarketCap.com
Terra Luna was one of the hottest cryptocurrencies on the market in 2021. It gained roughly 14,000% over the course of the year, which is astonishing even by the standards of fast-growing cryptocurrencies.
That explosion of value shows just how excited investors are about Terra Luna. While the crypto tumbled at the start of 2022 โ it fell by roughly 50% at its lowest point โ the price has already recovered to near-record highs. That momentum is a very strong sign that this cryptocurrency still has room for further appreciation.
Excellent Interoperability
Terra Luna has made interoperability across blockchains and payment systems a core tenet of its platform. Terra the platform recently inked a high-profile deal with Chainlink, making it easier for smart contract developers on Terra to access reliable price feeds and other critical data.
The more deals that Terra can make like this, the more important the Luna token will become throughout the world as one of the best decentralized finance coins.
Growth of Decentralized Finance
Speaking of decentralized finance, this is an area where Terra Luna holds a ton of promise. The fact that Terra stablecoins are so price stable makes them suitable for a wide range of traditional financial applications, including lending and borrowing. In fact, some analysts have speculated that Terra Luna could one day be the cryptocurrency that underpins a global network of decentralized financial transactions.
Earn Interest from Staking
One of the nice things about Terra Luna is that the price of the Luna token doesnโt necessarily have to increase for investors to make money. The Terra blockchain operates using a Proof of Stake (PoS) transaction verification algorithm, which requires Luna to be staked to the blockchain for transactions to be processed.
Crypto staking lets you earn rewards every time a transaction is verified.ย In effect, you earn interest in Luna tokens just for holding Luna.
Opportunities for Arbitrage
You can also take advantage of Terra Lunaโs structure to find opportunities for arbitrage. When the price of TerraUSD, for example, rises above the price of USD, you can burn Luna to mine TerraUSD and then sell it for more than its face value.
Terra Luna is inherently designed so that traders take advantage of these arbitrage opportunities, thus pushing the price of a Terra stablecoin back in line with its peg fiat currency. So the arbitrage opportunities might not be huge, but they offer another opportunity to profit from Terra Luna.
Terra Luna Price
Terra Lunaโs price has been on a wild ride over the past year. At the start of 2021, the Luna token was worth less than $1. By the end of the year, it had reached nearly $100 per token.
Terra Luna then started off 2022 on a poor footing, sliding to a low of around $47 per Luna coin by the end of January. It has quickly recovered, though, and is currently sitting at a price level of around $90.
Terra Luna has a market cap of $34.5 billion and is the 7th-largest cryptocurrency project in the world, according to coinmarketcap.com.
Terra Luna Price Prediction
Price predictions for Terra Luna vary widely, but most of them are heavily bullish. Many analysts expect Luna to be worth around $425-$475 by 2025, which would be a roughly 350% gain from the current price. More restrained predictions suggest that Luna could be worth around $100-$250 by 2025. There are very few analysts who predict that Luna will lose value over the next few years.
Ways of Buying Terra Luna
When it comes to how to buy Luna crypto, there are a couple different options. Here, weโll take a look at the most popular ways to buy Luna.
Buy Terra Luna with PayPal
You can buy Terra Luna with PayPal at certain crypto exchanges, such as eToro. All you have to do is make a deposit to your exchange account using funds from PayPal.
Itโs worth noting that PayPal does have its own crypto exchange. However, it does not offer Terra Luna and there is no way to send your crypto to an external wallet, so there is no way to buy Terra Luna through PayPal directly.
Buy Terra Luna with a Credit Card or Debit Card
Most major crypto exchanges let you buy Terra Luna with a credit card or debit card. The catch is that many of them charge high fees that can run to 4% or more of your purchase. We recommend using an exchange like eToro that doesnโt charge any additional processing fees when you fund your account with a credit or debit card. eToro also provides a convenient crypto app, meaning you can buy cryptos and manage your portfolio conveniently and safely directly via your smartphone or tablet.
Best Terra Luna Wallet
In order to safely store your Terra stablecoins or Luna cryptocurrency, youโll need a crypto wallet. Crypto wallets work a little like traditional bank accounts โ theyโre centralized hubs for storing all of your cryptocurrencies and sending and receiving crypto. In addition, many crypto wallets support decentralized financial applications like saving, lending, and staking your crypto.
There are several different types of wallets you can use to store Terra Luna. Hot storage wallets, many of which are software wallets, are connected to the internet, making them easier to use. Since theyโre already connected โ and often integrated with a crypto exchange โ you can buy, sell, send, and receive crypto at any time. However, hot wallets are more susceptible to hacks since they are always connected.
Cold wallets, most of which are hardware wallets, are more secure since they are disconnected from the internet most of the time. However, they can be somewhat cumbersome since you have to connect them anytime you want to interact with your cryptocurrency.
If youโre looking for the best wallet to store Terra Luna, we recommend the eToro Money wallet app. This free wallet is available for iOS and Android devices and is capable of storing hundreds of different cryptocurrencies, not just Terra Luna. Itโs connected to the eToro crypto exchange, making it easy to buy, sell, and swap cryptocurrencies. Plus, the eToro Money app is highly secure.
You can download the eToro Money app today from the Apple App Store or Google Play.
Cryptoassets are a highly volatile unregulated investment product.ย
How to Buy Terra Luna โ Tutorial
Now that you know where to buy Terra Luna, itโs time to get started. Weโll walk you through the process of buying Luna at eToro, our top-rated exchange for 2022.
Step 1: Open an eToro Account
Head to eToroโs website and click Join Now to sign up for a new exchange account. Enter your email and select a username and password. Then fill in details like your name, address, and phone number. You will also need to upload a copy of your driverโs license or passport to verify your identity.
Step 2: Deposit Funds
eToro requires a minimum deposit of $10 for UK and US residents. You can make a deposit by credit card, debit card, PayPal, Neteller, Skrill, or bank transfer. However, keep in mind that when depositing via bank transfer the minimum deposit becomes $500. eToro does not charge deposit fees.
Step 3: Search for Terra Luna
Head to your eToro dashboard and enter LUNA in the search box. When Terra Luna appears, click Trade to open a new order form.
Step 4: Buy Terra Luna
Enter the amount of Luna coin you want to purchase in US dollars. You can opt to set a stop loss or take profit level for your trade, or leave these blank if you are investing in Luna for the long-term. When youโre ready, click Open Trade to complete your purchase.
How to Sell Terra Luna
You can sell Terra Luna in the same way you bought it โ through an exchange. All of the exchanges where you can buy Luna coin also allow you to sell Luna.
Typically, the process is the same as for making a purchase, except that you select the sell option rather than the buy option. Funds from your sale will be available in your exchange account and can be used to buy another cryptocurrency or withdrawn.
Conclusion
Thanks to our guide, you now know where to buy Luna crypto and why this cryptocurrency is worth your attention. If youโre ready to invest in Terra Luna, you can get started at eToro.
eToro offers low crypto trading fees, excellent investing tools, and a built-in social trading network. Sign up today to buy Terra Luna!
Cryptoassets are a highly volatile unregulated investment product.
