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How & where to buy Terra (LUNA 2.0) online

Use our step-by-step guide to learn how and where to buy Terra on the top 5+ crypto exchanges.

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Updated: May 11, 2023

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Terra tokens are available on a cryptocurrency exchange, which functions similar to a stock trading platform. It takes just a few minutes to buy Terra this way. Follow our quick step guide below.

How to buy Terra instantly in 3 simple steps

To buy Terra you need a smartphone or a computer and an internet connection. It takes 10-15 minutes the first time and you should have some photo ID to hand. Here’s how to do it.

Step 1. Sign up to eToro

eToro is the simplest crypto exchange to get started with. Create an account and supply a copy of your photo ID for verification.

Step 2. Make a deposit

Add funds via a card payment, bank transfer or an alternative payment method. You can start with as little as £10.

Step 3. Buy Terra token

Type LUNA into the search box then click ‘trade’. Enter how much money you want to spend and hit ‘trade now’.

Now you own Terra tokens! It’s as simple as that.

Where to buy LUNA easily

The overall best exchange to buy Terra token for beginners is eToro . Terra is also available on lots of other cryptocurrency exchanges.

Here are the top three places to buy Terra, ranked according to their simplicity for beginners, fees, customer reviews, and safety ratings.

Best exchanges to buy Terra (LUNA), reviewed

1. eToro. Best for beginners, copy-trading & demo-account

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1500

No. assets

$10

Minimum deposit

Crypto

Platform type

Pros & Cons

Great for beginners, simple to set up and get started Zero commission stock trading Popular ‘CopyTrader’ function lets you follow top traders Excellent customer service, with live chat support provided Over 2,000 CFDs available to trade

Comparatively high fees for withdrawals and account inactivity Does not integrate with the MetaTrader platform High spreads on some assets

Overview

We love eToro because it makes it simple to trade crypto at home or on the go. If you’ve never bought cryptocurrency before, then eToro makes it simple to buy 75+ of the leading coins, including the likes of Bitcoin, Ethereum, and Dogecoin. Every crypto trade comes with a flat 1% fee, which makes it one of the cheapest crypto brokers on the market to boot.

As well as being a broker that offers lots of investor protection, eToro offers a very social trading experience. You can easily see what’s trending on the crypto market every day, browse the latest technical analysis about every one of those tokens, and copy other people’s trade suggestions from your desktop or the eToro app.

The fees: You will be charged a 1% fee every time you buy or sell crypto. The charge is included in the market price that’s displayed on eToro. CFD trades may be charged an overnight or weekend fee if you leave the position open.

Visit eToro eToro Review

77% of retail CFD accounts lose money.

2. OKX. Best for futures and margin trading

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...

No. assets

$50

Minimum deposit

Crypto

Platform type

Pros & Cons

Stake ETH to freely mint FIFA WORLD CUP 2022 NFTs & big prizes 350+ cryptocurrencies & NFTs available across 650+ trading pairs Crypto spot & derivative markets available Pay using hundreds of local payment methods

Not available in the US Lack of fiat withdrawal options

Overview

We love OKX because it’s an adaptable and flexible exchange, with an app that’s available in three different versions depending on how you trade. Choose from the beginner-friendly Lite version, Web3 option for NFT traders, or the Pro version for a plethora of trading tools.

From an app or desktop you can trade 350+ crypto coins on one of the world’s top crypto exchanges. You can fund your account easily, through a variety of simple payment methods, and a sliding scale of fees that means you can access discounts by holding the OKB token or trading high volumes.

The fees: Regular users pay a 0.1% fee on spot crypto trades. OKB crypto holders are entitled to a discount, up to 0.02% off for holding more than 2,000 coins. High volume traders are also entitled to a discount, with the cheapest fees available for traders with a 30 day trading volume above $10,000,000,000.

Visit OKX OKX Review

3. Nexo. Best for earning interest & rewards

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...

No. assets

...

Minimum deposit

Crypto

Platform type

Pros & Cons

Offers excellent rates of interest on crypto and fiat savings Nexo debit card makes it easy to access and spend your funds Access crypto loans and collateral Equipped with top quality security infrastructure and insured

No anonymous option, your identity must be verified to place buy and sell orders Margins calls if the value of your collateral drops between a certain level

Overview

We love Nexo because you earn rewards every time you make a purchase. You can trade 60+ cryptocurrencies and earn rewards of up to 0.5% on every transaction, then store your coins on Nexo to build your wealth through passive interest payments.

You can trade on the go from a mobile app and Nexo is designed for simplicity. Every trade is locked in at the rate you see on your screen, so you won’t suffer from price slippage, and it has the added bonus that any crypto held in your account automatically starts to earn interest.

The fees: Nexo charges a 2% spread on buy and sell transactions. There are no fees for storing coins in your Nexo account. Depending on your loyalty tier, you receive a fixed number of free withdrawals, and any additional withdrawals will be charged a network fee.

Visit Nexo Nexo Review

4. KuCoin. Best social trading altcoin exchange

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No. assets

...

Minimum deposit

Crypto

Platform type

Pros & Cons

Anonymous trading with up to 2 BTC withdrawals/24 hours Wide variety of cryptocurrencies No deposit fees

Low trading volumes not suitable for big traders Doesn’t support U.S. customers You might experience delays and lags during high-traffic times.

Overview

We love KuCoin because it;s a great place for beginners to trade more than 700 altcoins. KuCoin is a social trading platform with 20+ million investors worldwide in 200+ countries.

KuCoin’s beginner zone offers up rewards up to $500 for new users. The rest of the platform has plenty of features for the crypto enthusiast: a staking service to earn money on your stored crypto, an NFT marketplace, and margin trading features to buy leveraged tokens.

The fees: Trading fees are charged on a sliding scale. Fees are 0.1% on trading volumes below 50 BTC in a 30 day period. Discounts are available if you pay fees in KCS or store more than 1000 KCS in your account.

Visit KuCoin KuCoin Review

How to trade LUNA

You can trade Terra on a cryptocurrency exchange using a few simple steps. Here’s a quick example that clearly lays out how LUNA crypto trading works:

Monitor the price: Let’s say the price of LUNA/USDT is $1. You read the price charts and decide that now is a good time to start purchasing LUNA.
Open a trade: You trade one USDT for one LUNA ($1 for 1 LUNA).
Continue to monitor the price: The next day, one LUNA token is now worth $2, a 100% increase.
Close your trade: You trade your LUNA token back to USDT for $2.

In this example, you buy and sell Terra, doubling your money (trading). While the steps are simple, executing them in a profitable way is not so easy. You need to spend many hours learning to trade, reading charts, patterns, and understanding markets and margin trading; which you can do right here on Invezz.com.

What is the best way to pay for Terra (LUNA)?

The simplest way to buy Terra cryptocurrency is with your bank card. However, there are plenty of other options as well. Here are some of the top ways to pay for LUNA.

Buy Terra with a credit card or debit card. Card payments are convenient and instantaneous but you may have to pay a higher fee to make a deposit this way. Binance charges 1.8% for a card deposit and some platforms charge as much as 4%.

Buy Terra with bank transfer. A bank transfer is usually the cheapest way to buy crypto. Crypto platforms like Crypto.com and Coinbase do not charge for bank transfer deposits, while Binance only charges a £1 fee, and these transactions are more or less instant as they run through the Faster Payments System (FPS).

Buy Terra with PayPal. Some crypto brokers accept deposits via PayPal. eToro is the best option because it doesn’t charge a fee for PayPal deposits, whereas the charge can be as high as 5% or more with other platforms.

Alternative payment methods. Crypto brokers often let you pay with other providers or money transfer services, like Neteller, Venmo, or Payoneer. The options vary by broker, though, so check what’s accepted before you sign up.

How do I store Terra (LUNA)?

Most people keep their crypto on the exchange they used to buy it. If you only plan to hold onto it for a little while then that’s a perfectly acceptable option. If you want to hold it for years or you own a lot of Terra then you should move it to a crypto wallet.

A crypto exchange is similar to a bank account, in that it means trusting a company to protect your funds for you. A wallet is like your personal wallet, or a safe, where you take responsibility for it yourself. Two of the best Terra wallets to use are MetaMask and the Ledger Nano S.

Is Terra (LUNA) a good investment?

Whether it’s good for you depends on your goals and the fundamentals of the project. Here are some key features of Terra and its token to help you decide whether to invest in LUNA.

LUNA lost almost all of its value. In May 2022, the price of the LUNA token, which is the native token of the Terra blockchain, fell to an all-time low, dropping 99.9%. Its stablecoin TerraUSD (UST) lost its peg and saw its price drop around 93%.
LUNA’s crash impacted the broader crypto market. The crash in LUNA’s price was not an isolated event and was echoed in other major cryptocurrencies, such as Bitcoin (BTC) and Ethereum (ETH), which also lost value. This suggests that the crash was likely due to market-wide factors such as investor sentiment or regulatory changes.
LUNA has been delisted from several crypto exchanges. Following the crash, several cryptocurrency exchanges delisted LUNA tokens from their platforms. This means that they removed it from their list of available assets. This further reduced the liquidity of the token and made it harder for investors to buy or sell.
Terra LUNA 2.0 replaced the original in 2022. To save the Terra ecosystem, a recovery plan known as Terra LUNA 2.0 was announced and voted for by coin holders. This plan saw a new chain replace the existing network, and the existing LUNA token will be replaced by LUNA 2.0. This is intended to restore investor confidence and provide a fresh start for the Terra blockchain.
LUNA 2.0 has yet to be successful. It initially hit $30 before dropping 80% on its first trading day. This suggests that despite the recovery plan, the market sentiment towards LUNA and Terra ecosystem is still negative.
It’s a volatile coin that provides short-term opportunities. Due to its volatility, the new LUNA can provide astute investors or short-term traders with opportunities. Wild price swings are not uncommon and can generate quick profits if you’re on the right side.

Use this quick summary of pros and cons to compare Terra with other, similar projects.

Pros

LUNA 2.0 has the backing of institutions
Long-term goal of a transparent payments system for all is exciting and offers growth

Cons

Partly centralised, which goes against the ethos of crypto
Volatile in nature
Its history makes it a risky investment

Ultimately, many different factors play into the answer. Cryptocurrency is inherently volatile but you can reduce the risks by investing in quality projects that provide value to the community.

How has Terra (LUNA) performed this year?

The current Terra price today is $2.04 , which is 98.60% below its all time high of $119.55, which it reached on 04 April, 2022. LUNA is up 64.13% this year, with a 52 week high of $19.54 and a 52 week low of $1.17.

Is now a good time to buy Terra?

The answer depends on the current price and your own investment goals. Put simply, buying Terra, selling Terra, and trading LUNA are all the exact same process. It’s really just your personal investing intentions that defines whether now is a good time to invest or not.

If you’re a trader: as a cryptocurrency trader, your goal is to make money trading regularly. What do we mean by regularly? Hourly, daily, weekly. Traders buy and sell a coin quickly to secure their profit (or to avoid a loss). They don’t #hodl that coin long term in the hopes of larger profits. In this sense, any time is a good time to buy Terra.
As a long-term investor: a long term investor is not concerned if the price is up or down 10% on any given day. Rather, they care that the price of the native token is overall up months or years later, when they’re ready to sell that investment. So if you’re a firm believer in the foundations of Terra and its decentralised aggregator platform, then a good time to purchase Terra is on any major dip.

In our experience, most newcomers to the crypto market sit between the two. You don’t want to wait several years for a return, but buying Terra and selling it the next day probably isn’t why you’re here either.

Regardless, closely following LUNA price news & analysis will help you decide when to pull the trigger:

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