Terra (LUNA) Current Price, Market Cap And How To Buy Luna Coin: If you are a fan of crypto and NFT market, you would confirm the recent hike the Terra (LUNA) price, trading volume as well as it’s market cap. This has left a lot of investors searching the internet to know the current price of LUNA, and how to buy and store Luna.
What Is Terra (LUNA)?
Terra is a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.
Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund’s Special Drawing Rights basket of currencies — and it intends to roll out additional options.
Terra’s native token, LUNA, is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.
Who Are the Founders of Terra?
Terra was founded in January 2018 by Daniel Shin and Do Kwon. The two conceived of the project as a way to drive the rapid adoption of blockchain technology and cryptocurrency through a focus on price stability and usability. Kwon took on the position of CEO of Terraform Labs, the company behind Terra.
Prior to developing Terra, Shin co-founded and headed Ticket Monster, otherwise known as TMON — a major South Korean e-commerce platform. He later co-founded Fast Track Asia, a startup incubator working with entrepreneurs to build fully functional companies.
Kwon previously founded and served as CEO of Anyfi, a startup providing decentralized wireless mesh networking solutions. He has also worked as a software engineer for Microsoft and Apple.
How Many Terra (LUNA) Coins Are There in Circulation?
Terra has a supply of 1 billion tokens. If this number is exceeded, LUNA is burned until it returns to the equilibrium supply level. New LUNA tokens are minted through the protocol’s algorithm, as needed, in order to maintain the price of Terra stablecoins.
LUNA was first made available for purchase in a private token sale for initial investors, which included the investment arms of major exchanges such as Binance, OKEx and Huobi. The sale concluded in August 2018, and as a result, Terra raised $32 million. Of the 385,245,974 LUNA minted for the sale, 10% was reserved for Terraform Labs, 20% for employees and project contributors, 20% for the Terra Alliance, 20% for price stability reserves, 26% for project backers and 4% for genesis liquidity.
Where Can You Buy Terra (LUNA)?
Terra’s native token, LUNA, is listed on several cryptocurrency exchanges — including Huobi, Bitfinex and Upbit — where it is available to be traded against fiat currencies, stablecoins and other cryptocurrencies.
To check LUNA price live in the fiat currency of your choice, you can use CoinMarketCap’s cconverter feature directly through our crypto calculator which is at the end of every page. Popular LUNA price pairs include: LUNA/USD, LUNA/GBP, LUNA/AUD and LUNA/JPY.
How To Buy LUNA.
With the recent hike in the price of LUNA, there has been a high demand from potential investors who wish to buy and own LUNA, A lot of crypto investors are online trying to get the right information on how to how & where to get their LUNA asset as well as storing them in a secured wallet.
Quick Steps To Buy Luna
Register on Fiat_to_Crypto Exchange
Since you can’t buy LUNA directly with Fiat Currency, You will have to first buy one of the major cryptocurrencies (BTC, USDT, ETH). But in this case let’s consider USDT (USDT). You can perform this transaction on fiat-to-crypto exchanges, Uphold.com and Coinbase.com you can decide to use any of them as they are widely adopted in the crypto world, They are rated among the largest crypto exchanges that accept fiat deposits in the world.
All you need to do, create account with them ( ensure you keep your password safely) after creating an account then move to the next step which is to buy USDT.
Buy USDT with fiat Currency
Once you finished with account creating and KYC process. You will be ask to add a payment method. Here you can either choose to provide a credit/debit card or use a bank transfer.
PLEASE NOTE: You will be charged higher fees when using cards but you will also make an instant purchase. While a bank transfer attract lower charges but slower purchases, Though it sometimes depends on the country of your residence, some countries will offer instant cash deposit with low fees.
Transfer USDT to an Altcoin Exchange
After buying your USDT, it’s worthy of note that since LUNA is an altcoin that can’t be traded in all Crypto exchange, we need to transfer our USDT to an exchange that LUNA can be traded. Many exchanges has their own policies as some has restrictions to some countries, for example Binance does not allow investors from USA as customers. So you have to choose an exchange that suit your location and create an account with them before proceeding to the next steps.
PLEASE NOTE: It will always be advised to set up 2FA authentication as it adds extra security to your account.
Deposit USDT to Your Preferred exchange
Depends on the policies of the exchange you might be required to go through another KYC process, this usually takes minimum 0f 30 minutes and a maximum of a day, After the whole verification process you are now good to go.
Since we are now transferring our previously bought USDT on Coinbase to this wallet (exchange) where LUNA can be traded, click on ‘Copy Address’ or right-click on the full address and click copy to grab this address to your clipboard. Now head back to Coinbase, go to Portfolio page and click on the USDT on your asset list, then click on ‘Send’ on the right.
Under the Recipient field, paste the wallet address from your clipboard, for security and accuracy reason, you should always check if both addresses are matching and Click ‘Send’ to proceed, you should receive a confirmation email instantly, click on the confirmation link in the email and your coins are on the way to your preferred exchange.
Now go to your exchange to confirm your USDT arrival, don’t worry if you haven’t seen your deposit almost immediately, It might be undergoing some network verification in the blockchain network and this should take a few minutes for your coins to arrive. Depending on the network traffic condition of the USDT network, during busy times it may take even longer.
You should receive a confirmation notification from your exchange once your USDT has arrived. guess what? You are now finally ready to purchase your LUNA
At this stage which is the final of your purchase, held to your exchanging platform, then go to ‘Exchange’. make sure “USDT” is selected to be able to trade USDT to altcoin pair of your choice, in this case LUNA. You should see LUNA/USDT, select that pair and you should see a price chart of LUNA/USDT in the middle of the page. All you need to do is to execute your order and you are done getting your LUNA asset.
Some Top Exchanges You Might Love Base On Your Location
BitMart – Is one of the most trusted cryptocurrency trading platform which provides real-time trading services including Bitcoin (BTC), Ethereum (ETH) and other Altcoins. It accept American customers unlike BINANCE that doesn’t support American customers.
Binance is a popular cryptocurrency exchange which was started in China but then moved their headquarters to the crypto-friendly Island of Malta in the EU. Binance is popular for its crypto to crypto exchange services.
Gate.io is an American cryptocurrency exchange that launched 2017. As the exchange is American, US-investors can of course trade here.
The Last Part And Conclusion.
After Purchasing your LUNA, and your plan is to hold it for long. You will have to open a secure wallet online or you make use of appropriate “Cold Wallet” as there had been too many hacking incidents associated with online and funds had lost severally.
Thank you for your time, note that this page is open for update and corrections. Please Note That, buying of crypto currencies is at your own risk, all our post is for education purpose and it’s advisable that you buy according to the dollars you can afford to lose.