LUNA, also known as Luna Coin, is a governance token for the Terra blockchain. This exciting crypto also absorbs price volatility for Terra stablecoins. The Terra blockchain is part of the decentralized finance system, creating stablecoins such as TerraUSD (UST). The value of stablecoins is usually tied to fiat currencies such as the US dollar or reserved assets, for example, gold.
The Terra platform uses the proof of stake model, where users verify the transactions. As such, it consumes less energy compared to other decentralized finance blockchain networks that rely on mining. In this guide, we will share tips and steps on how to buy LUNA.
Use Crypto Exchange Platforms
Crypto exchange platforms are websites or apps that allow people to purchase crypto coins and assets directly with their bank accounts. There are plenty of crypto exchange platforms these days, and the process of buying LUNA coins from crypto exchange platforms is very simple.
If you search “how to buy LUNA” on Google, you will get a list of crypto exchange platforms. First, you will need to sign up for an account on a crypto exchange platform of your choice. Once your account is set up, the next process is adding your preferred mode of payment.
Most crypto exchange platforms allow users to buy crypto assets directly with their bank accounts. Besides that, you can also buy LUNA using your credit or debit card. The price of LUNA tokens may vary depending on the crypto exchange platform you are using.
Buy TerraUSD and Exchange for LUNA
You can purchase TerraUSD, also known as UST, and swap it for LUNA tokens via your Terra Station wallet. Terra Station is a crypto wallet service operating on the Terra blockchain, and it provides a list of verified markets where users can buy UST coins.
After a successful purchase, users can then swap their UST coins for LUNA. Other than that, users can yield farm their UST coins in high-yield protocols operating on the Terra blockchain. If you have never used Terra Station before, check out this important source for more information and user guides.
Buy LUNA via Crypto Trading
If you have any other type of crypto coin in your wallet, you can trade it for LUNA. Most crypto exchange platforms have a list of cryptocurrency pairs. For instance, you might come across pairs such as ETH/LUNA or SOL/LUNA. This means that you can directly swap your Ethereum or Solana coins for LUNA tokens.
However, not all exchange platforms have direct cryptocurrency exchange pairs. In such cases, you can buy LUNA by converting your coins to a stablecoin of your choice, for example, USDT. After that, you can trade it for LUNA tokens.
Nowadays, investing in cryptocurrencies is very simple. Many crypto exchange platforms allow users to buy crypto assets directly from their banks. Whenever you use crypto exchange platforms, consider the exchange rates.
If you are looking for the best way for how to buy LUNA, we would suggest using the Terra Station crypto wallet service. This will enable you to buy UST stablecoins at a lower price. Also, the exchange fees are cheap, and you can take advantage of the high-yield protocol services operating on the Terra blockchain.