To buy Luna crypto during the Terra ecosystem’s demise was one of the most significant ‘black swan’ events in the history of the cryptocurrency market, highlighting the inherent problems that algorithmic stablecoins have.
However, its founder has recently launched a brand-new network dubbed “Terra 2.0,” which comes in a new iteration of the LUNA token. You can also check How to Buy ElonGate Crypto.
Not to be confused with Terra Classic and Luna Classic, the chain and native currency of the new Terra blockchain, respectively. The new Luna is not associated with the Terra US (UST) stablecoin.
The token lost all its value when the original Terra began issuing more Luna to hold up UST. This type of volatility in cryptocurrency has prompted repeated warnings from India’s Reserve Bank of India (RBI).
According to the RBI, anyone who invests in cryptocurrency should be prepared to lose their entire investment.
If you’re aware of the risks but still want to purchase the new Luna token, this blog post will explain how to buy Luna 2.0 and highlight which platforms offer Luna tokens.
Let’s explore it.
What is Luna 2.0?
It is the second iteration of the failed LUNA token, which was initially part of the Terra ecosystem.
Luna 2.0 is the new token of the Terra blockchain, which is completely different from the original blockchain that was at fault during the ‘black swan’ event in May 2022.
However, investors can still purchase Terra Luna (the original version) from determined exchanges, but the price remains down by over 99% from previous highs.
TerraForm Labs have launched the new iteration of the Terra ecosystem following a proposal from founder Do Kwon.
The most significant difference between the two versions is that Terra 2.0/Luna 2.0 no longer has any ties to the UST stablecoin.
Moreover, the price of Luna 2.0 started at around $5 when it was released in May 2022, yet it instantly rocketed by over 90%. It is important to understand that Luna 2.0 was given for free to investors who held LUNA or UST in the pre-attack and post-attack periods.
According to CoinMarketCap, 210 million Luna 2.0 tokens are currently circulating, although a maximum supply of 1 billion tokens exists. To ensure the stability of the new ecosystem, these tokens will be distributed gradually over the next six months.
Terra Luna Price
Terra Luna’s price has been on a roller coaster ride over the last year. At the beginning of 2021, the Luna token was worth less than $1. Later, at the end of the year, it had come to nearly $100 per token.
Then it started falling in 2022, to around $47 per Luna coin by the end of January. Following the de-pegging of TerraUSD, the price of LUNA dropped by 99% after rising into early April. In May 2022, Luna was trading at $0.0119.
This has resulted in LUNA having a market cap of only $328 million, ranking it as the 215th largest cryptocurrency in the world.
How to Buy Luna 2.0
Investors looking to buy Luna crypto must make an account with a safe and reliable cryptocurrency exchange to facilitate their investment.
When you want to choose a platform for buying Luna coins, we recommend you choose Crypto.com.
Here are the steps highlighting how to invest in Luna 2.0 while using Crypto.com.
Step 1- Create a Crypto.com Account
Most importantly, Luna 2.0 is only reliable through Crypto.com’s Exchange service, not the mobile app. Hence, an account should be made through your web browser.
Go to the Crypto.com Exchange’s homepage and tap Sign Up. You will be asked to enter personal details and choose a password for your account.
Step 2 – Verify Your Account
Its verification process will be completed through the Crypto.com app. Thus, you must download it from the App Store or Google Play to proceed.
After the download is done, log in using your given details and choose to verify your account.
Crypto.com will have three pieces of information during the verification process:
- Full legal name
- Picture of government-issued identification.
Once these details are given, it will verify them and email you once they are complete.
Step 3 – Fund Your Crypto.com Account
After verification, go to your account dashboard, select Wallets, and tap Deposit. By following this, choose the cryptocurrency you’d like to put down from an external crypto wallet.
Now complete the transfer through a QR code or via your wallet address.
Note: Crypto.com only supports the ‘LUNA2/USDC’ trading pair, so you must fund your account in USDC or exchange another cryptocurrency into USDC before investing in LUNA2.
Step 4 – Search for Luna 2.0.
Type LUNA2 in the search bar and select the LUNA2/USDC trading pair in the drop-down menu.
Step 5 – Buy Luna 2.0
Enter your investment details into the order box to buy Luna. Ensure that you are on the Market portion of the order box so that your trade is placed immediately. Type the quantity of LUNA2 you want to buy, check immediately, and confirm the transaction.
Where To Buy Terra Luna
You will need a crypto exchange in order to buy the Luna coin that offers this new cryptocurrency. Due to its popularity, most exchanges offer Terra Luna.
Hence, you can opt for the best exchange on the basis of price, investing tools, ease of use, and more.
Here is the list of the top 4 crypto exchanges you can use to invest in Terra Luna 2.0 today.
1. eToro – Best Exchange to Buy Terra Luna
Update: eToro has relisted LUNA for buying and trading as of May 19, 2022.
It is the top-rated crypto exchange where you can purchase Terra Luna tokens. Further, it is the only exchange where you can buy Terra Luna with a credit card or debit card without paying any additional processing fees.
It also supports e-wallets such as PayPal, Neteller, and Skrill to buy cryptocurrency easily. Moreover, it has low trading fees. You will buy this token for only 1% per purchase, ensuring exactly how much you will be charged for each transaction.
eToro lets you deposit your Tera Luna right into your exchange account. However, you can also transfer coins to the eToro Money crypto wallet for safekeeping. The wallet app is free and easy to use, like simple coin swapping.
eToro is regulated by FinCEN and FINRA in the United States, and the UK’s Financial Conduct Authority also regulates it, the SEC, ASIC, and CySEC, in addition to providing 24/7 customer support.
2. Crypto.com – Reasonable fees to Buy Terra Luna Token
Another great place to purchase LUNA coins is Crypto.com. You can purchase and sell over 250 popular cryptocurrencies with extremely low transaction fees.
You will not be charged anything while depositing to Crypto.com and swapping. If you want to buy Terra Luna via credit card, transaction fees are only 2.99%. While that’s much more than eToro charges, it is very low compared to other top crypto exchanges.
Moreover, it offers plenty of different ways to interact with Terra Luna when you own coins. You can store them in Crypto.com’s mobile wallet, available for free on iOS and Android devices.
Crypto.com provides a Visa rewards crypto credit card that pays up to 8% on transactions, depending on which tier you are in.
3. Coinbase – Friendly Exchange to Buy Luna
It is one of the most beginner-friendly crypto exchanges for newcomers in the world of digital currency. Select the cryptocurrency you want, choose how much to purchase, and enter your payment details.
It’s extremely simple and expedites getting started with Terra Luna. However, Coinbase has some of the highest instant buy fees of any major exchange.
When you buy Terra Luna with a credit or debit card, you’ll pay a 3.49% processing fee and a 1.49% fee when you pay with a bank account.
Although it offers spot trading, which is significantly cheaper, its transaction fees of 0.05% are still higher than most competing services.
Nevertheless, Coinbase has one of the most secure and trusted software wallets available, as well as a built-in marketplace of decentralized apps to help you maximize your cryptocurrency investment.
Furthermore, it also provides crypto lending, borrowing, and staking services. You cannot lend Terra or Luna now, but you can stake your Luna to earn rewards on the Terra blockchain.
4. Binance – Good Exchange to buy Luna Crypto Token
If you want to trade Terra Luna for a profit actively, then Binance is a good option. Because it provides an extremely advanced crypto trading platform and the lowest crypto spot trading fees, Binance provides customizable technical charts with plenty of built-in indicators.
You can even fix price alerts, monitor crypto market news, and track the Luna 2.0 order book to stay ahead of changes in trading momentum.
Furthermore, it charges only 0.10% per buy or sell order. With this lowest transaction, you can qualify for discounts based on trading volume or holding BNB, Binance’s native cryptocurrency.
Binance also has many features for decentralized finance. Inside the Binance Trust wallet, you can stake Luna, lend out Terra stablecoins, and run decentralized apps.
Q1: How is the price of terra determined?
Ans: Terra has a floating exchange rate, and its price is fixed by individual vendors based on available supply and demand. As you all know, Terra is a globally traded asset; the price varies worldwide based on order books, volume, exchange rates, and service fees of each Terra exchange.
Q2: Can you convert Terra Luna into cash?
And Yes! You can convert terra to Australian dollars (AUD) instantly on CoinSpot. You can also withdraw AUD for free from your Australian bank account without withdrawal limits.
Q3: How to sell Luna Terra 2.0?
Ans: You can easily sell over 150 cryptocurrencies on the Bitcoin Store platform at the current exchange rate.
Moreover, you can instantly sell crypto stored in your Bitcoin Store Wallet. Cryptocurrency can be stored on personal wallets like Exodus, TrustWallet, Ledger, Treasury, etc., or on several trading platforms. It should be transferred to your Bitcoin Store Wallet before selling.
When the transfer is successful, you can sell your crypto. You can withdraw the funds directly to your bank account, keep them in your Bitcoin Store Wallet, and use them for future purchases.
Q4: Where can I store Terra 2.0 (Luna)?
Ans: You can deposit Terra 2.0 in your digital wallet. However, digital wallets can be divided into two groups; Hot Wallets and Cold Wallets.
Hot wallets include:
- Desktop wallet.
- Mobile wallet.
- Online wallet.
Cold Wallets include:
- Hardware wallet.
- Paper wallet.
Hence, you can store Luna on your Bitcoin Store Wallet. Its access and storage of cryptocurrency are free for all users who register on the Bitcoin Store platform.
We have provided a complete guide on how to buy Luna and where to buy Luna crypto. However, because the market is still volatile, you should only invest when you can afford to lose a deposit at its low price point after the crash.
If you are ready to invest in Terra Luna, you can purchase it at eToro with low trading fees, while Crypto.com is also recommended.
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