Where To Buy Terra Classic (LUNC): Top Exchanges in April 2024
The original Terra Luna crypto has been rebranded to Terra Classic. TerraLuna carshed in May 2022 and lost $40 billion of investor capital and savings. Terra’s ex CEO Do Kwon is currently being pursued by the South Korean Government and the US Government for fraud, and an interim CEO, Chris Amani, has been appointed to spearhead Terraform Labs.
Currently, LUNC tokens hold a market value of nearly $600 million and efforts are being made for Terra Classic to make it more stable. If you wish to invest in LUNC, pay close attention to the ongoing case and proceed with extreme caution.
In this post, we take a look at where to buy Terra Classic, listing the exchanges that offer the coin after the 2022 crash.
Choose a Trusted Exchange Platform
Binance
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Binance offers over 150 tradeable cryptocurrencies for customers in the US, including Terra Classic. 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.
Uphold
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This San Francisco-based digital platform offers a unique “anything-to-anything” trading experience. It enables users to conduct crypto and precious metal trades while providing a range of other financial services to a global market. With support for more than 250 cryptos, including Terra Classic, over 20 fiat currencies, and four precious metals, this multi-asset platform is both versatile and reliable.
Kraken
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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 LUNC position.
Coinbase
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Coinbase 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.
Crypto.com
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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.
Gate.io
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Gate.io got its start in 2013 and has since become one of the best crypto exchanges for LUNC. 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.
HTX
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HTX 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.
BitGlobal
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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.
BitYard
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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.
WazirX
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WazirX is a popular Indian cryptocurrency exchange that allows you to buy, sell, and trade digital assets in a secure and easy-to-use platform. The platform supports multiple cryptocurrencies, including Bitcoin, Ethereum, Terra Classic and its native WRX Coin. WazirX also offers a variety of features, including the Referral Commission system and the world-first auto-matching P2P engine.
How To Buy Terra Luna Classic
In this section, we explore how to invest in Terra Classic, step-by-step:
Step 1: Open an Online Account
To get started with Terra Classic, 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 Classic.
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. Also, make sure to understand the fee structure of your chosen platform because all transactions come with trading fees.
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.
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 Classic, 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 needed.
Step 3: Buy
Once you’re set up, you’re ready to buy. Most platforms offer buying options that are similar to conventional brokerages like credit card, debit card, bank transfer, etc.. 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.
Frequently Asked Questions (FAQ)
Can I still buy Terra Luna now?
Yes you can still buy Luna, it has been rebranded to Terra Classic and the coin is still offered on many popular crypto exchanges. Aside from Terra Classic (LUNC), after the crash Terra Luna 2.0 (LUNA) was created via a hard fork from the existing chain. LUNA is a proof of stake currency while LUNC is the same currency that crashed in May 2022.
Is Terra Luna coming back?
It does not seem likely, especially with the ongoing investigations. Terra Classic is currently just one more altcoin that people see as an interesting investment option, its role as a stablecoin will probably never be restored after the scandal in 2022.
Can LUNA recover to $1?
Terra classic will probably never return to $1 while Terra Luna 2.0 is also seeing steady decline below the $1 mark. However, as with any investment option, there is no way to predict the future accurately.
What is Terra Luna 2.0?
After the initial crash, Terra Luna 2.0 was created as a restoration proposal via a hard fork of the old Terra blockchain. It was backed with improved functionalities and launched on May 28, 2022. Previous Luna holders of UST and LUNC received new LUNA tokens and the Terra 2.0 blockchain was made to run parallel with the Terra Classic network, utilizing Proof of Stake.
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.
