Where To Buy Terra Luna: Top 10 Exchanges in 2022

ByG. Dautovic
May 18, 2022

LUNA is experiencing extreme volatility. The Terra blockchain was halted. Proceed with caution! 

Terra is a decentralized finance platform aiming to replace many of the functions provided by the traditional banking system. It offers its own stablecoin, UST, maintained by Luna, which is available on multiple platforms. 

In this post, we take a look at where to buy Terra Luna, what it is, and some of the steps you can take to get it in your e-wallet. 

Binance

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OVERVIEW

Binance offers over 65 tradeable cryptocurrencies for customers in the US, including Terra Luna. This gives traders and investors many options, and the platform offers lower fees than many other exchanges. There are also lots of trading options available, but the platform is known for being a little more complex than other options. Unfortunately, Binance is only available in 44 states, meaning it may not be accessible at your location.

Purchase Terra Luna
On Binance Website

Coinbase

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OVERVIEW

Coinbase, too, is one of the most well-known cryptocurrency exchanges of today. The platform makes it extremely easy to exchange any cryptocurrency, including LUNA. While some people have complained of high fees and occasionally poor customer service, it’s still one of the most secure ways to trade cryptocurrency and get your hands on Terra Luna.

Purchase Terra Luna
On Coinbase Website

eToro

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OVERVIEW

eToro is a huge trading platform that is suitable for both beginners and experienced users. It supports Terra Luna but charges significantly higher fees than some of the competitors. It’s also a great platform for social copy trading and is fully regulated, making it a safe option for traders. Start by setting up an eToro account and then choose a deposit method for buying Terra Luna.

Purchase Terra Luna
On eToro Website

Kraken

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OVERVIEW

Kraken is an excellent choice for both new and existing cryptocurrency investors, thanks to the low fees and access to a wide variety of coins. It supports spot trading and even cryptocurrency futures, making it a fantastic platform to start building a large LUNA position.

Purchase Terra Luna
On Kraken Website

Uphold

Fortunly's Rating: Our editorial team determines the rating based on a set of evaluation criteria developed for each product and service category.

Uphold Logo
OVERVIEW

This San Francisco-based digital platform offers a unique “anything-to-anything” trading experience. It enables users to conduct crypto, equity, and precious metal trades while providing a range of other financial services to a global market. With support for more than 80 cryptos, including Terra Luna, over 20 fiat currencies, and four precious metals, this multi-asset platform is both versatile and reliable.

Purchase Terra Luna
On Uphold Website

What Is Terra?

Terra is a blockchain-based protocol that focuses on providing stablecoins to the market – cryptocurrencies with stable values, usually pegged to the US dollar. The platform wants to make these stablecoins more commonplace, improving cryptocurrency’s ability to function as money. To do that, Terra is reducing price volatility seen in many mainstream markets such as Bitcoin, Ethereum, and Litecoin. 

Terra operates on the Cosmos blockchain, unlike the majority of stablecoin networks, which operate on Ethereum. Proponents claim that Cosmos has several advantages over Ethereum, including lower transaction fees and faster service. However, there are also disadvantages, such as a smaller user base and less liquidity in some markets.

What Is Terra Luna?

Terra Luna is Terra’s own stablecoin, linked to the US dollar. Users can buy and sell Terra Luna both natively and on other blockchains, including Ethereum and Solana. 

The Terra Luna token’s founders began work on the multiplatform stablecoin in 2018. The platform raised more than $32 million from its initial coin offering (ICO) in 2019, creating more than 385 million individual tokens. The Terra Luna coin price remains pegged to the dollar. The total value of coins in circulation now stands at approximately $2.8 billion. 

While Terra Luna is a coin that you can own outright and use for transactions, it’s also part of Terra’s strategy for stabilizing other stablecoins in its inventory. For instance, the fixed Terra Luna price is 1 LUNA equals $1. If demand pushes the price of Terra Luna up to $1.10 per coin, Terra must intervene to lower the price back to $1. 

The way it does this is by getting users to convert Luna into UST – Terra’s dollar-based stablecoin. Terra allows Luna holders to convert their coins into UST at the higher price of $1.10 per coin and make a 10% profit in the process. When this happens, it reduces the stablecoin’s supply and pushes the price up, allowing the stablecoin to hold its value. 

Currently, Terra is offering a substantial 20% interest on UST deposits, meaning that $1 invested today could be worth $1.20 in a year’s time. However, the platform is not committed to keeping interest rates high for Terra Luna investors indefinitely. It may change depending on the performance of the coin. 

Terra Luna tokens are still not as widely available as other, better-known cryptocurrencies. However, they have tremendous momentum and may be listed on some of the bigger exchanges in the future. (We discuss which platforms currently offer you the opportunity to buy Terra Luna crypto below.) 

Why Buy Terra Luna?

There are many reasons to believe that Terra Luna is going to become more popular in the future. In the crypto world, we often hear about how cryptocurrencies are going to solve problems in the future, but Luna is actually fixing things now. 

Take Tether (USDT), for instance. It’s currently the largest stablecoin on the market. However, during its history, there have been many times when there were not enough real dollar reserves to support it. If everyone were to cash in their coins at the same time, there wouldn’t be enough money to go around. 

Because Tether is an off-chain collateralized stablecoin, it requires real bank deposits to back it up. By contrast, Terra stablecoins, such as Luna, do not. They use on-chain Luna for price adjustments when required. 

Given its performance, the Terra Luna price prediction is often sky-high. The currency is trading at $78 as of the time of writing, significantly above analysts’ predictions. 

Terra’s popularity comes from its decentralized payment systems on the Cosmos blockchain, a platform many believe may be superior to Ethereum. The former is more scalable than the latter and is able to offer more efficient transactions. 

However, Terra Luna might become a victim of its own success. For instance, many governments around the world are looking to launch their own currencies similar to Luna. China, for example, is piloting a digital currency of its own that would negate the need for stablecoin intermediaries.

We’re also seeing greater regulation. Stablecoins could potentially represent a borderless digital bank that may lead to centralized finance that could render national monetary systems impotent. Authorities generally don’t want to see a diminution in their power, so they may put rules in place that make investing in Terra Luna a bad idea.

Lastly, Terra Luna has expanded significantly beyond the borders of South Korea. However, it still has a long way to go if it’s going to become an international network to rival Ethereum.

How To Buy Terra Luna

In this section, we explore how to invest in Terra Luna, step-by-step:

Step 1: Open an Online Account

To get started with Terra Luna, you’ll first need to open an online account with a crypto exchange or brokerage that supports the coin. Please note that not all platforms currently offer Terra Luna. (We discuss which platforms do below.) 

To set up an account, you’ll need to supply your chosen platform with personal information, such as your address, email, birthday and Social Security number, similar to a regular brokerage. You may also have to answer additional “know your customer” questions, such as your source of funds and annual income. 

Step 2: Get a Crypto Wallet

The next step is to get a wallet so that you can store all the crypto that you buy. Generally, you shouldn’t keep your currency in storage on an exchange because of the risk of hacking or the platform going out of business. One option is the Terra Luna wallet, though there are others. 

Cryptocurrency wallets can be both software- and hardware-based. Hardware-based options are physical units that you store offline until you want to securely buy and sell crypto. Most of these are compatible with Terra Luna, though not all. 

Of course, if you’re a trader and want to buy and sell regularly, it’s more convenient (albeit less safe) to keep your holdings on the exchange. This way, you can access them immediately if the Terra Luna coin price changes. 

Step 3: Buy

Once you’re set up, you’re ready to buy. Most platforms offer options that are similar to conventional brokerages. There are limit orders where the order will begin to fill at your specified price or better, market orders where you can buy or sell at the best available price, and stop orders, where an order will begin filling when you meet your stop level at the best available price. You may also be able to ask for a fixed price quote from a market maker. However, this depends heavily on the coins you choose.

Best Places To Buy Terra Luna

While not all exchanges offer Terra Luna, there are still many places where you can buy the coin.

BitGlobal

BitGlobal launched in 2019 and has since become one of the largest cryptocurrency trading platforms in the world. Originally called Bithumb Global, the platform started operations in South Korea and then relocated its offices to the Seychelles. 

BitGlobal offers various perks to those looking to buy Terra Luna online. These include a user system that connects to all the regulatory requirements of individual countries, support for unified asset management, and front-end support including for Web, APP and WAP. The website is available in eight languages, and the exchange accepts multiple fiat currencies, beyond the US dollar.

Gate.io

Gate.io got its start in 2013 and has since become one of the best crypto exchanges for Terra Luna. The exchange is only a fraction of the size of larger rivals, such as Binance, but offers an intuitive interface which is easy for beginners to use. Aside from Terra Luna, Gate.io offers a range of popular altcoins and is often one of the first exchanges to add new coins to its mix. Anyone living in the US can sign up to the platform, except residents of Washington State and New York.

KuCoin

KuCoin is a reputable trading platform, well-known for its low fees and competitive trading costs. The platform was set up in 2017 and is now headquartered in the Seychelles. Since its founding, it has grown to become one of the most-used platforms available, with more than 10 million active users worldwide. 

On the platform, you can buy Terra with a credit card, as well as many other coins, including Bitcoin, Dogecoin, Ethereum, and XRP. Accounts are accessible via both online portals and mobile apps. There are four order types supported by the platform: market, limit, stop-limit and stop-market. Users can also engage in P2P trading, futures, and margin calls. 

KuCoin offers a tiered maker/taker fee model: Each party in the transaction pays a small percentage fee to cover the platform’s costs each time they make a trade. The greater the volume of transactions in the last 30 trading days, the lower the commission. 

While KuCoin offers decent verification and industry-standard security features, it suffered a cyber breach in 2020, which led to the loss of more than $280 million in cryptocurrency from users’ wallets.

Crypto.com

Crypto.com’s mission is to accelerate the global transition toward cryptocurrency. The platform believes that the technology will power all of the capabilities of Web3, and will make the world a considerably more equitable place. It promises users the ability to control their money, data, and identity, without relying on government institutions or banks. 

Crypto.com currently operates in more than 90 countries and boasts 10 million users. It already has 4,000 employees working for it, and continues to hire at a fast rate.

Uphold

Uphold is one of the most popular exchanges you can use to purchase Terra Luna online as well as a host of additional coins. 

The platform’s major draw is its reliability. Since inception, it has gained substantial credibility in the industry, thanks to its security record and tools for helping users complete their trades. 

It also has a modern, easy-to-navigate interface. With just a couple of clicks, you can make trades, and you don’t always have to wait for funds to clear in your account.

Binance

Binance is the biggest and possibly best-known cryptocurrency exchange on the planet right now. Thanks to its size, it’s able to offer lower fees than many other exchanges, allowing you to buy and sell quickly to take advantage of up-to-the-minute market news. 

The size of the market also translates to high liquidity, meaning that the bid/ask spread can be lower than on other platforms that might have to reach out to other exchanges to facilitate trades. 

Unfortunately, residents of the US are not allowed to use the Binance platform to buy or store Terra Luna because of regulatory issues. However, investors in the UK, Canada, Australia, and Singapore can.

BitYard

BitYard is a relative newcomer to the crypto trading space. Launched in 2019, it now offers more than 100 currencies and serves customers in over 150 countries and territories around the world. 

BitYard’s fees are transparent and roughly in line with what you can expect to pay on other platforms. The exchange stands out for its focus on compliance. It holds a FinCEN-issued license, which basically means it’s officially recognized as a legitimate exchange in the US. In addition to that, it’s licensed by the Accounting and Corporate Regulatory Authority in Singapore.

Huobi Global

Huobi Global got its start in 2013 and has gone on to become one of the largest cryptocurrency exchanges in the world, with over 500 digital assets available for trade. It now serves over 10 million users through 200-plus regional service centers. It’s widely regarded as one of the top Terra Luna exchanges. It’s not currently open to investors from the US or Canada, although its co-founder Du Jun has recently announced the company’s plan to re-enter the US market, which it exited in 2019.

WazirX 

WazirX also trades in Terra Luna. It currently serves the Indian market and is part of the Binance Group, which offers its expertise to assist the platform’s development.

Voyager

Voyager is an exchange of exchanges. It connects to more than a dozen platforms on a single account, allowing you to see the best price for Terra Luna trades currently available. With more than 50 digital assets on offer and opportunities to earn up to 9% APY, Voyager is definitely worth considering if you want to start trading crypto. 

However, it’s not all good news. The verification process to find out who you are is long and you can’t initiate coin-to-coin trades, meaning that you may have to re-convert into US dollars if you want to change your investment strategy.

The Bottom Line

Thanks to the wide variety of exchanges that offer the coin, figuring out where to buy Terra Luna is relatively easy. Major exchanges, including KuCoin, Gate.io, and Binance offer the coin to trade. 

The Terra Luna coin may offer advantages over and above other blockchain solutions. For instance, it’s faster than Ethereum and offers superior stabilization to off-chain solutions. However, it runs the risk of being a victim of its own success, particularly in an era when governments are looking to introduce their own stablecoins.

FAQ

Can you buy Terra Luna on Coinbase?

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No, Terra Luna is not currently available on Coinbase.

Is Terra Luna a good investment?

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The Terra Luna token is a good investment because of the mechanism it employs to keep other stablecoins constant in value. If a stablecoin starts to appreciate, holders of Luna get all of the profits. As the coin grows in popularity, the amount of money that can be made grows.

What exchanges sell Terra Luna?

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If you’re wondering where to buy Terra Luna, you should know that the coin is easy to find and purchase on many reputable exchanges, including Gate.io, KuCoin, Crypto.com, Binance, and Voyager.

About author

I have always thought of myself as a writer, but I began my career as a data operator with a large fintech firm. This position proved invaluable for learning how banks and other financial institutions operate. Daily correspondence with banking experts gave me insight into the systems and policies that power the economy. When I got the chance to translate my experience into words, I gladly joined the smart, enthusiastic Fortunly team.

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