Terra LUNA cryptocurrency dominates in the headlines of crypto trading articles lately, but not for good reason. The cryptocurrency surprisingly crashed and dropped more than 99% in a couple of days. The coin’s value started to decrease from the beginning of May after it hit its all-time high in April being traded at above $100. Now the coin’s prices fluctuate below $0.0002.
While it is not exactly clear why the project collapsed, the team behind it works to bring the reputation back and there is still some hope that Terra LUNA can recover. You may want to invest in LUNA at these very low prices which means you will need a good cryptocurrency broker to make a purchase. In this guide, we will review the best platforms to buy Terra LUNA, and cover everything you need to know about this cryptocurrency before you buy it.
Where To Buy Luna Coin In The UK
If you are curious about investing in Terra LUNA, you will obviously need a brokerage platform where you can buy it. Below we have reviewed the best trading platforms and crypto exchanges in the industry that currently offer LUNA coin to help you find a suitable platform.
1. eToro - The Best Broker To Buy Terra Luna Coin
Offering one of the most competitive pricing structures in the industry, eToro can be included among the most cost-effective brokers worldwide. The platform offers more than 60 cryptocurrencies which you can trade paying a flat trading fee and small spreads. eToro is also great when it comes to non-trading fees. It allows depositing funds into your account without paying any deposit fees (apart from the conversion fees for non-USD contracts). Additionally, the withdrawal fee is very budget-friendly even when you use credit cards.
Along with the low fees, several other things help eToro stand out among hundreds of brokers. First and foremost, it has a great user interface which makes trading simple even for beginners in the field. Another good function is its social trading platform where everyone can have their profile, follow the experts, ask their questions, and participate in hot discussions about different cryptos. On the social trading platform, you will also find the greatest tools of eToro that enable you to copy the trades or portfolios of the best eToro traders with a click of a button.
Though the broker does not offer a desktop app, it offers two mobile apps which you can download on your iOS and Android devices. The first one is its trading app and the second is the eToro Money app which is designed as a digital wallet to store cryptocurrencies. On the Money wallet, you can store, exchange, buy and sell hundreds of cryptocurrencies and swap between several crypto pairs.
All these features make eToro a highly reputable platform and one of the shining names in the industry. So far, the platform has attracted millions of visitors from more than a hundred countries around the world. To start trading with eToro you must visit its platform and sign up for an account. The latter is a quick process that will take you a couple of minutes. Once you have an account, you can use one of the multiple payment methods that the broker offers to charge your account and start investing.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
2. Binance - The Best Crypto Exchange to Trade Terra LUNA
When it comes to the versatility of crypto assets, Binance is beyond compare as the exchange lists more than 500 cryptocurrencies. Currently, Binance suspends transactions with Terra LUNA due to the coin’s crash, but you can buy it once it is delisted on the exchange. Founded in 2017 by a Chinese software developer Changpeng Zhao and formerly a Chinese-based company, Binance is now the largest crypto exchange by trading volume.
A crucial factor to take in mind about Binance is that its features differ from those of Binance.US which is a fork of the exchange designed for US customers and stands out with limited functions. For instance, Binance.US offers more than 50 cryptocurrencies while Binance supports hundreds of crypto assets and NFTs. The reason for these differences is that Binance is currently under investigation in the US that’s why it is not available in the country.
When speaking about this cryptocurrency exchange, one of the first things that come into your mind is its relatively competitive trading fees. The fees are extremely low compared to different platforms in the industry and vary depending on several factors, including the number of coins you buy. In fact, if you buy more, lower fees are applied and vice versa. Additionally, you will get some discounts from reaching VIP status, using BNB coins, etc.
Another fascinating thing about Binance is that the platform offers a wide selection of sophisticated trading tools which makes it an excellent choice for advanced traders. On Binance, professional traders can enjoy advanced charts and graphs designed to assist them in market analyses. Regarding safety, though Binance is not a regulated platform, like eToro, it provides top-notch safety mechanisms to protect your account from hackers and losses.
3. Crypto.com - A Mobile-Friendly Exchange to Buy Terra LUNA
Crypto.com is another leading cryptocurrency exchange in the industry that stands out with low fees and a good collection of cryptocurrencies available for trading. You can buy and sell more than 180 crypto assets with Crypto.com, including the Terra LUNA coin. Though the exchange does not support crypto-to-crypto trading it supports several Defi opportunities and staking which may interest expert traders.
With Crypto.com you can also enjoy low fees which differ depending on the payment method you use. For example, ACH transactions enable you to trade without trading and transaction fees. Instead, you need to pay relatively higher transaction fees (2.99%) when you use a credit or a debit card. Though bank cards are most popular for their transaction speed, Crypto.com added the possibility of instant transactions using ACH transactions which would usually take a couple of days.
Crypto.com also offers an excellent mobile app that is available which users can download on their iPhones or Android phones. Apart from its main app, it also has a Defi wallet app which opens new opportunities in the Defi industry. What is great about the platform is that it does not require any minimum deposits to allow you to trade on its platform and the minimum trades start from low prices. It means that you can start trading on Crypto.com with as little money as $1.
4. Bitstamp - Extremely Low Fee Crypto Exchange to Buy Terra LUNA
Founded in 2011, Bitstamp is one of the oldest cryptocurrency exchanges that has survived the competition and has become one of the leading names in the industry. The first thing that makes the exchange exceptionally attractive is its low fee structure. The pricing system is quite simple and the platform charges trading fees based on the volume of your trades in the last month. Overall, the exchange tends to charge lower fees when you trade in large amounts.
Another good thing about the Bitstamp platform is its simple-to-use interface which makes it attractive for beginners. Additionally, Bitstamp offers advanced trading tools for expert traders. But more advanced trading options professionals will find on the Tradeview which is a trading platform supported by Bitstamp. Trading fees are the same irrespective of which platform you select. The main difference is between the selection of trading tools and chartings which seem to be more professional on the Tradeview platform.
When it comes to security, you should give careful thought before selecting Bitstamp, as the exchange faced a major hack in 2015. However, after that experience, its safety mechanisms have improved significantly and no other similar cases have ever occurred with Bitstamp. Bitstamp is also excellent when it comes to mobile trading. The exchange offers a sophisticated and highly-rated app due to which you can track the market and make necessary trades when you are away from your computer.
One of the main drawbacks of the exchange is that it does not support as many crypto assets as the other leading platforms, such as Binance. On Bitstamp, you can trade over 45 cryptocurrencies, including the Terra LUNA coin.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
What Is Terra LUNA?
Before you learn about the Terra LUNA cryptocurrency project, you need to understand what stablecoins are and why they are created. The first stablecoins sprung up in 2014 long after the first cryptocurrencies were created. Stablecoins are crypto assets that are pegged to another asset that has a stable price. These cryptocurrencies are created to avoid the high volatility in the cryptocurrency market and are meant to be used for ordinary purchases or money transfers.
There can be various types of stablecoins depending on the asset they are pegged to. The most popular type is fiat-based stablecoins which are crypto-assets pegged to a fiat currency, for example, USD, EUR, etc. Stablecoins can also be crypto-pegged, commodity-pegged, algorithmic, etc. Though stablecoins can also be used to profit from small price movements, their main idea is to enable people to benefit from fast and secure transactions on the blockchain without facing the high volatility of such cryptocurrencies as Bitcoin, Ethereum, etc.
So, founded in 2018 by Do Kwon and Daniel Shin, Terra offers a platform where people can build stablecoins pegged to fiat currencies. In fact, the project issues two kinds of tokens - Terra and LUNA. Terra refers to the stablecoin part and there are several versions of Terra tokens created so far, including TerraUSD, TerraGBP, TerraEUR, and many others. All these tokens are designed to follow the values of fiat currencies and if their value exceeds the fiats or decreases Terra automatically brings it back by issuing new tokens or burning some of the existing ones.
Besides the Terra tokens, the project also issues a governance token - LUNA, which gives governing rights to its holders. But LUNA is also used to reward people who put their coins to take part in the network securing process. Above all this, LUNA also plays a major role in keeping the Terra stablecoins prices stable.
Cryptoassets are highly volatile and unregulated in the UK. No consumer protection. Tax on profits may apply.
Why Did Terra LUNA Crash?
As mentioned already, Terra and LUNA tokens are strongly connected and LUNA plays an important role in keeping Terra prices stable. This approach makes Terra an algorithmic stablecoin meaning that when the value of any Terra token raises or drops, the program will automatically burn or create new tokens to bring Terra token value back.
This algorithm seemed to work great until recently when the number of LUNA tokens raised causing some problems for TerraUSD. Unfortunately, no one explained what was the matter with the TerraUSD token which caused disbelief and panic among LUNA investors. Consequently, they started to sell their tokens due to the situation resulting in a massive sell-off. Hence, the LUNA prices crashed and TerraUSD followed it in May 2023.
In less than a week, LUNA, which was among the 10 best cryptocurrencies by its market cap, lost most of its value and dropped to below $0.002 from $116. Until now, it is not exactly clear the core reasons for this situation that enabled investors to push forward multiple theories. Some people even believe that it is actually related to Bitcoin and the major crash of LUNA tokens will result in the BTC price drop and investors can buy it at low prices. Others relate it to one of the co-founders of Terraform Labs, Do Kwon.
Risks Of Buying LUNA - Should You Invest In Terra LUNA Right Now?
Up until recently, Terra LUNA was one of the most well-traded cryptocurrencies in the market that has attracted several investors. Most of this was also due to the technology that the project offers as Terra LUNA stood out with unique features. Additionally, users can stake their coins and mine new LUNA tokens. The Terra project was so exciting that even after this major crash many people believe it will recover its value.
In any case, you need to think twice before investing in Terra LUNA as the chances that the project will recover are not high enough. On the other hand, Terra LUNA is traded at very low prices right now, hence there will not be any major loss if you invest a small amount of money in the project. But again you must be very careful and cautious as for now Terra is considered a very risky investment.
Will Terra LUNA Ever Recover?
It is hard to say if Terra LUNA can ever recover as the opinions among crypto analysts are quite controversial. While some people think that Terra has completely lost its belief among investors, others still believe in Terra. Much like other digital coins, they buy LUNA at low prices hoping that the prices will recover and they will benefit from the movements.
It is also worth noting that some exchanges, including Binance, have delisted the cryptocurrency and will return it once the situation stabilizes. When it comes to Terra LUNA recovery, Do Kwon seems to have some plans for doing it but the experience indicates that those plans do not work in the way they are supposed to work. One thing seems to be almost clear - Terra LUNA cannot recover completely and return to its $100 value. However, it is valued so low right now that you can invest in LUNA very little and win huge gains even if it bounces back to $ 1 or slightly above it.
Check Out: Will Terra Luna Come Back?
Terra LUNA Price Movements
Terra LUNA was founded in 2019 but the LUNA price was quite boring before the beginning of 2021. The cryptocurrency first hit $1 only in late January 2021 and continued to gain value over the whole year. It hit the all-time high of 2021 only in December, increasing to more than $99. But the cryptocurrency did not manage to hit $100 that year and started to drop again.
In 2023, Terra LUNA opened the year not so successful as it had already lost almost half of its value and was traded at around $50 before the drastic rise. But the princess coinstarted to recover soon and the cryptocurrency eventually hit its maximum all-time high when it reached $116 on April 4, 2023. After this significant rise, a drastic drop took place and led to a major price crash. While before that Terra was among the 10 largest crypto assets by its market cap, the crypto lost more than 99% of its price and is currently traded below 1 cent.
Terra LUNA Price Movements by coinmarketcap.com
What Is Terra LUNA Price Prediction?
At the time of writing, LUNA price predictions are quite controversial and differ significantly from platform to platform. Nonetheless, keep in mind that most of these platform are based on algorthmis and thus, should be take with a grain of salt. One of the bullish predictions gives the Gov Capital according to which 1 LUNA will cost $100.5 in 2023-2023. Moreover, it predicts that LUNA's price can reach up to $900 in just 5 years. Wallet Investor’s predictions are also quite optimistic. The platform suggests that LUNA will increase up to $72 in one year and in 2027 the coin will be traded at $360.
On the contrary, the Coin Price Forecast is rather bearish about LUNA’s future prices. It predicts that cryptocurrency will rise only 175% in 2023 and be traded at $0.00025498. According to this platform, LUNA will hit $0.001 only in 2029. The same is with the Digital Coin Price but is even more pessimistic. It indicates that LUNA will rise over the next few years but very slightly. So, in 2030 LUNA will be traded at $0.000600, according to the Digital Coin Price.
Don't Miss: Terra Price Predictions
Ways Of Buying Terra LUNA In The UK
There are diverse methods you can use to invest in LUNA cryptocurrency and the cost and speed of the transaction may vary depending on which method you use. While credit and debit cards may be the fastest and most convenient methods to make transactions, some brokers may take extra fees for bank card transactions. However, when it comes to eToro, the broker does not charge any deposit fees either for bank card transactions or for e-wallets and bank transfers.
How To Buy Terra LUNA With Credit Card Or Debit Card?
Buying Terra LUNA with a credit or debit card is quick and simple. There can be two ways to do it depending on the brokerage platform. In the first case, you can simply link your bank card to your account and deposit money from your bank card. For example, if you trade with eToro, to buy LUNA with a bank card, first you should deposit some funds into your account, by selecting a bank card method and then having money in your account you can buy what you planned.
Apart from it, you can also have the opportunity to use an instant buy option which you can find trading, for example, with Binance. Through this method, you do not transfer the funds to your account but use your card to immediately make the purchase. In this case, you will need to pay a 3.99% fee to the exchange.
How To Buy Terra LUNA With An e-Wallet?
Trading with an e-wallet is also a quick and cost-effective method with eToro. It is quite as simple as the bank card method. What you need to do is to deposit funds on your account choosing the Neteller or Skrill option and when your funds are already transferred to your exchange account you can use it to purchase LUNA tokens.
The Best Digital Wallets For Terra LUNA
When you buy Terra coins, you will need a safe place to store them which can obviously be your exchange account. Though exchange accounts are quite secure, you have safer alternatives - digital wallets. These wallets are decentralized which makes them even more trustworthy as they are less likely to be hacked. If you still want online storage for your coins, you can select a software wallet. However, to keep them offline you will need to buy hardware wallets.
Before you choose any of them you should browse the market and check out which are the most reputable and secure options. Additionally, make sure if your chosen wallet supports the ERC-20 token as LUNA is based on the Ethereum version. Among the best software wallets supporting LUNA are eToro’s Money wallet, Binance’s Trust wallet, etc. The best hardware wallets compatible with ERC-20 tokens include Trezor and Ledger wallets.
How To Buy Terra LUNA UK - A Step by Step Guide
In this part of the article, we will give you a detailed explanation to help you buy Terra LUNA with one of the most widely-used brokers in the industry, eToro. It is a straightforward process that you will go through easily and take less than an hour.
1. Open an Account with eToro
As mentioned, you cannot invest in Terra LUNA without having registered for an online account, so your first step is to visit eToro’s website and click on the corresponding account to create an account. In the beginning, you simply need to fill in your email and create a username and password for your profile. After it, you will have an account on eToro but you must provide further details to make it usable.
Next, eToro will require you to provide such information, such as your name, surname, date of birth, address, phone number, income, investment details, etc. Finally, you will need to verify your identity and address using such documents as your ID, driver’s license, a utility bill, and a bank document.
2. Deposit Funds
When you have your account verified, it is time to charge it with some funds to be able to buy Terra LUNA tokens. You have multiple options to do that - bank cards, ACH transfers, Skrill, Neteller, speed transfers, etc. Click on the “Deposit Now” button to select one of these billing options and provide what eToro asks about your payment method to link it to your account and transfer funds.
3. Search for Terra LUNA
LUNA is the ticker symbol of the Terra token so you can browse it by visiting the cryptocurrency section of eToro which you can select by clicking on the “Markets” division. If you do not want to browse among eToro’s 60 coins and tokens to find LUNA you can simply search it in the appropriate toolbar and on the first results that appear.
4. Buy LUNA Coin
After you click on the first results when you search for the Terra LUNA you will be navigated to Terra’s page where you will see multiple tools and charts. Additionally, eToro displays a lot of news related to the Terra market. You can take this chance and use these charts and tools to do careful research before you invest in Terra LUNA or any token.
Once you finish the research phase, you can eventually buy coins. For this purpose, simply click on the “Trade” button near the name of the token and select the buying window. Here you must type the number of coins you want to invest in and select the “Buy” button. As the crypto market is always open, eToro will immediately conduct the transaction and you will see LUNA tokens on your exchange account.
How To Sell Terra LUNA?
Selling Terra LUNA is even simpler than buying it as you already will have a trading account and do not need to deposit money on it. Once LUNA prices go up and you think it is the right time to sell your LUNA tokens and benefit from them, you need to visit your account and start the selling process. The first thing to do is to visit your portfolio and click on the LUNA token.
After you click it you need to find something similar to the “Trade” button and the selling window will spring up on your screen. On the corresponding boxes, you need to fill in the amount of LUNA you want to sell and finalize the transaction. When you complete the process, your broker will do the rest for you, and if the transaction completes you will see the funds on your exchange account. Once you get the monet, you can either leave it in your account and invest in other assets or withdraw it to your bank card or e-wallet.
To conclude, Terra LUNA is one of the most popular platforms to build stablecoins. The cryptocurrency started this year very successfully and even managed to hit its all-time high. However, due to the major crash, the token collapsed and lost more than 99% of its price. Once traded at above $100 LUNA token is now worth less than $0.0002 and it is still unclear if the token can overcome this crash and recover its future value.
Despite the crash, you can still invest in this cryptocurrency if you believe that it can recover and bring you high returns in the future. Though the coin got delisted on many major exchanges it is still available to purchase on such leading brokerage platforms as eToro and Crypto.com. If you want to buy Terra LUNA coin in the UK, visit eToro’s website and create an account to start purchasing LUNA.
eToro – The Best Platform To Buy Terra In The UK
eToro have proven themselves trustworthy within the Crypto industry over many years – we recommend you try them out.
What is Terra Luna Coin?
Terra LUNA is a blockchain platform that was founded in 2018 by Terraform Labs and can be used to create fiat-based stablecoins.
Where to Buy Luna Coin in the UK?
LUNA coin is currently delisted by multiple cryptocurrency exchanges due to its recent crash, but it is still available to buy on such leading platforms as eToro and Crypto.com.
Why did LUNA Crash?
There are a lot of controversies about why Terra LUNA has experienced such a severe crash but the main reason is associated with the uncertainty among investors around the Terra community.
Can Terra LUNA Ever Recover?
Nobody can be sure whether Terra LUNA can recover and whether it can be soon or late, but the team behind the project works on multiple plans to relive the token. Still, it seems impossible for Terra LUNA to get back its past repetition.
How to Buy Terra Luna Coin?
To buy Terra LUNA you must pick up a good brokerage platform and visit its website to sign up for an account. Once you have a verified and funded account you can search for it by the ticker symbol “LUNA” and click on the “Trade” button to start buying it.
What are LUNA Price Predictions?
According to different crypto analysts, LUNA has the potential to hit $1 in 2023 and even reach $5 in 2025. This is pretty much lower than its price before the dramatic events, still, if it succeeds to get back to $1 it will significantly recover from its price crash.