Terra (LUNA) has climbed 300% in the last 30 days, taking it further into new territory
Terra (LUNA) is taking the crypto market by storm with relentless bullish momentum, having set a second new all-time high in as many weeks. The coin has now risen to the twelfth spot in the market cap rankings and could be set to crack the top 10 after an 18.5% climb today. Its new all-time high of $34.25 was set this morning.
Find out more about Terra in this article, as well as finding out how and where to buy LUNA today.
How & where to buy Terra in the UK and elsewhere
Terra (LUNA) can be obtained from a huge range of cryptocurrency exchanges and brokers following its ascent to mainstream popularity. Sign up for a free account with one of our two suggested partners below, then make a deposit in your local currency. Once your account’s wallet is loaded up, you’ll be ready to place your first trades today. Avoid unregulated platforms at all costs, as these offer very little in terms of protecting your investment.
As LUNA is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNA using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNA right now, follow these steps:
1. Buy ETH on a regulated exchange or broker, like eToro ›
We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.
2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask
You’ll need to create your wallet, grab your address, and send your coins there.
3. Connect your wallet to the Uniswap DEX
Head to Uniswap, and ‘connect’ your wallet to it.
4. You can now swap your ETH for LUNA
Now that you’re connected, you’ll be able to swap for 100s of coins including LUNA.
What is Terra?
Terra is an independent blockchain and stablecoin network that aims to create a scalable, usable, dApp and DeFi-friendly ecosystem for both everyday and high-power use. Co-founded by Do Kwon, the South Korean entrepreneur, Terra is already enjoying widespread use as a payments network in Asia due to its partnership with Chai, a leading app.
Terra issues a dollar-pegged stablecoin, UST, which maintains its peg using an innovative mechanism whereby LUNA tokens are burned/minted in relation to UST in order to keep UST’s market value at $1. Terra has also incubated an in-house DeFi protocol named Anchor, which allows users to earn near-20% interest rates on UST deposits. These deposits can then be exchanged for “real” USD, offering a powerful alternative to the near-0 interest rates offered by most global banks.
Should I buy LUNA today?
LUNA is touted as one of the best up-and-coming investments in the crypto space for the next several years. The project brings both next-generation technology, practical payments, and unbelievably high DeFi yields that also appear to be safe to the cryptoverse. Unlike competing projects which promise similar features in the future but lack pragmatic usability today, Terra is extraordinarily powerful as it is and has a team of top developers leading it into the future. At $33.96, Terra is fresh from its new all-time high and could continue to grow.
This article is informational only — none of the contents should be construed as financial or investment advice.