How to buy Terra online

Terra is a digital currency platform and LUNA is its in-house token. Find out how Terra works, the history of the project, and the best place to buy LUNA tokens.

This page talks you through the key things you need to know about Terra, including its purpose, where to buy LUNA, and the project’s investmenr prospects in the future.

Compare where to buy Terra, and open an account

To buy Terra now, use one of the reliable brokers in the list below; we have tested them scrutinously to ensure they are up to the task. If you aren’t ready to buy yet, scroll down and keep reading.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
  • BTC
  • BCH
  • XRP
  • ETH
  • ETC
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.
Kraken
Key Features
24/7 Support for all Traders
Trade Margins, Indices & Futures
Highly-rated mobile app with super low rate fees
Min Deposit
$10
United States
Start Trading View key features
Key Features
24/7 Support for all Traders
Trade Margins, Indices & Futures
Highly-rated mobile app with super low rate fees
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Credit Card
As one of the largest and oldest Bitcoin exchanges in the world, Kraken is consistently named one of the best places to buy and sell crypto online, thanks to our excellent service, low fees, versatile funding options and rigorous security standards -- but this is only part of the story. We’ve been on the forefront of the blockchain revolution since 2011.
Paybis
Key Features
Accessible world wide meaning you can buy cryptos no matter where you are
Save on foreign exchange fees by paying in your local currency with over 47 currencies available
Lowest fees on the market so you can get more crypto while paying less
Min Deposit
$60
United States
Start Trading View key features
Key Features
Accessible world wide meaning you can buy cryptos no matter where you are
Save on foreign exchange fees by paying in your local currency with over 47 currencies available
Lowest fees on the market so you can get more crypto while paying less
Top Coins
  • BTC
  • BCH
  • ETH
  • TRX
  • LTC
Payment Methods
Credit Card, Debit Card, Skrill, Neteller, Bank Transfer, Bitcoin
UK-based Crypto exchange company with FCA license. Global coverage of 180+ countries and unprecedented 48 US states. Buy & sell cryptocurrencies no matter where you are.
Binance
Key Features
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Min Deposit
$1
United States
Start Trading View key features
Key Features
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.
Coinbase
Key Features
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Min Deposit
$1
United States
Start Trading View key features
Key Features
FCA regulated crypto exchange with 4500+ digital assets available for trading
Supports users from over 100 countries including the US and Canada
Withdraw your funds using PayPal or other payment methods
Top Coins
  • BTC
  • LTC
  • XRP
  • ETH
  • BCH
Payment Methods
Credit Card, Debit Card, Euro Bank Account, 3d Secure Credit Card
Coinbase is one of the first places that made it easy to buy bitcoin and has since become a widely trusted exchange in the market.

What is Terra?

Terra is a digital currency that allows users to avoid paying hidden fees in online transactions. The platform’s native LUNA token is issued to Terra miners who power the platform, and it regulates its own supply to provide stability by minting or burning tokens based on market conditions.

The long-term goal of Terra is to make blockchain technology become globally adopted. By producing a family of stablecoins that are pegged to the value of various major global currencies, users will always get the correct exchange rate for fiat currencies when making online payments.

How does Terra work?

Terra uses an elastic money policy and its own treasury with multiple stimulus programmes to increase adoption and stability. When new proposals from community participants are made, the entire network reviews them, and then it finances them automatically with the objective of expanding usage.

The entire system is underpinned by a range of stablecoins that are pegged to the value of various fiat currencies, which stops users from paying unnecessary fees. This means that Terra is in part a digital central bank. However, by replacing the current status quo payment chain of banks, payment gateways, and credit card networks, Terra has created efficiencies for merchants and consumers.

As for LUNA tokens, they provide holders with platform voting rights, and they are also users for staking and securing the entire network. This is because they are store as collateral to create the price stability of the stablecoins.

How to buy LUNA online – a step-by-step guide

Step 1. Find an exchange to buy LUNA

If want to know where to buy LUNA tokens, we recommend a reliable and reputable crypto exchange. Feel free to check out our reviews for some of the options, but to save you time, we have listed two of the best places to buy LUNA tokens below.

  • Bittrex: We like the intuitive interface and reliable framework that Bittrex offers its users. It is a good choice for beginners and experienced users alike. Sign up to Bittrex today >
  • Binance: As the largest crypto exchange by trade volume, you can’t really go wrong with Binance, and it is a good place to buy LUNA tokens. Join Binance and buy LUNA now >

Step 2. Sign up and fund your account

With every exchange, you need to create an account before making transactions, and this involves entering some contact details and providing a copy of your photo ID.

Once your account has been verified, you can fund it with fiat currencies like GBP, or you can deposit a popular cryptocurrency like BTC or ETH to finance your transactions.

Step 3. Buy LUNA

Once you have the funds in your account, search for the relevant pair on the exchange of your choice. For example, if you want to use GBP, find the LUNA/GBP pair, enter the amount of money you want to spend, and execute your purchase.

Step 4. (Optional) Get a suitable wallet

If you plan on holding your LUNA tokens for an extended period of time – be that to vote on platform governance or speculate on their future price – opening a crypto wallet is definitely something you should consider. They can add a layer of security to your tokens to protect them from online attacks and theft. Check out two of the best LUNA wallets below:

Binance
Key Features
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Min Deposit
$1
United States
Start Trading View key features
Key Features
The world's largest cryptocurrency exchange with over 2bn daily users
Innovative trading platform offering enormous range of crypto coins
Supports over 60 methods of payment including PayPal
Top Coins
  • ZRX
  • LEND
  • ACT
  • ADX
  • ELF
Payment Methods
Cryptocurrencies
Binance has grown exponentially since it was founded in 2017 and is now one of, if not the biggest cryptocurrency exchanges on the market.

How to trade LUNA – a step-by-step guide

Step 1. Find a broker

If you want to trade quickly and frequently, you need an online broker to open and close trades instantly. We have already provided you with a strong selection in the table above, but not all of them support LUNA tokens. Your best bet is to check out one of the major crypto exchanges like eToro or Plus500 because they support the most coins.

Step 2. Deposit money

Just fund your account with fiat currency and you are good to go. Expect to see varying fees for different platforms, which include – but are not limited to – deposit fees, withdrawal fees, trading fees and commissions. The lower the fees you pay, the more money you can earn from trades.

Step 3. Decide how you’d like to trade

Most people who trade LUNA do so with a CFD, which means they own a representation of the token rather than the token itself. This is a good way of gaining exposure to the price of LUNA and it is often cheaper than buying the tokens outright.

When creating a trading strategy, focus on technical analysis and indicators to give you the best chance of spotting trends and patterns as they unfold so you know when to sell and when to buy.

Step 4. Start trading 

Before you execute your first real trade, consider trying a demo account, which will allow you to learn the ropes before putting your own capital at risk. Most brokers offer this service, and you can find out which ones do in our reviews section.

When trading Terra, you will take up a position that will either be long – believing it will rise in value – or short – believing it will fall in value. Make sure you keep a close eye on market conditions and behaviour so you know which position to adopt at any given time.

If you want to trade LUNA using leverage, you should exercise caution, because whilst it increases to exposure to the potential upside, it does the same for the downside.

eToro
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Min Deposit
$50
United States
Start Trading View key features
Key Features
Accepts customers from the USA
Offers 15 crypto coins to buy&sell including BTC, LTC, ETC, NEO and more
Trade on the world's leading social trading and investing platform
Top Coins
  • BTC
  • BCH
  • XRP
  • ETH
  • ETC
Payment Methods
Wire Transfer, Bank Transfer
eToro offers a wide range of cryptos, such as Bitcoin, XRP and others, alongside crypto/fiat and crypto/crypto pairs. eToro users can connect with, learn from, and copy or get copied by other users.

Still undecided?

If you aren’t quite ready to buy quite yet, don’t rush into anything; take your time. To help you make up your mind, here are the pros and cons of Terra as a platform.

Pros

  • Stops users paying hidden fees
  • Brings crypto to the mainstream
  • Less volatile than Bitcoin because LUNA creates stability
  • Good rewards for miners and those who stake LUNA
  • 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
  • Lots of work to do before it can challenge rivals
  • Needs to be adopted by more users before it can attract substantial investment

If you still aren’t sure if you want to invest in Terra or not, here are some final questions for you to ponder:

1. Is it a good time to buy Terra?

This is dependent on your financial circumstances and goals. If you believe Terra has potential to become a major online payments solution for individuals and enterprises, buying LUNA whilst it is priced low could lead to significant rewards in the long run.

For short-term traders, this vision is much less important. Instead, keep an eye on the current price of LUNA and try to purchase it for a lower price than you end up selling it for. By conducting technical analysis and making accurate predictions, you can accelerate your profits from volatility.

Whatever way you decide to buy or trade, keep up to date with Terra by reading our latest analysis:

The crypto financial services firm Galaxy Digital Trading, founded by Mike Novogratz, co-led a $25 million funding round for Terraform Labs (LUNA), the Singapore-based crypto startup. Fundamental analysis: Rapid ascendance Terraform has seen a massive rise in popularity lately thanks to its payment rails which reduced the settlement time…

2. What problem does Terra solve, and what are the coin’s investment prospects?

Terra disrupts the payment chain status quo of banks, payment gateways, and credit card network. Instead, it offers a more efficient transactions with no hidden fees. In addition, the project has a built-in mechanism for increasing adoption and creating an ecosystem of stablecoins that are collateralised by LUNA for easy online use.

The project faces an uphill battle to secure mainstream adoption, especially because payment portals like PayPal hold such a monopoly over the space, but if it can market itself successfully and appeal to enough individuals, it could become a significant player in the space.

Now you know about the future outlook for Terra, it is a good idea to check the latest news concerning the platform:

Terra (LUNA) has surged to new all-time highs as its price passed the $10 mark. Is this the end of its bull run, or does LUNA have more space to go? And more importantly, should you consider investing in LUNA now? Fundamental analysis: Terra’s price increases as a result…

3. Do you want to hold LUNA for the long term?

Think about how exactly you want to invest. Are you after long-term growth, or is short-term profitability an area of focus? Below are the main considerations you should make when investing in LUNA.

Considerations for a long term investment strategy

If you expect Terra to continue its rapid growth, it is likely that LUNA will rise in value. Therefore, consider choosing an exchange, buying Terra and storing it in a wallet for long-term security. and you should choose an exchange to buy some coins.

Considerations for a short term trading strategy

If you are after immediate returns, trading LUNA could prove to be profitable as moments of volatility create opportunities. For individuals who aim to trade LUNA effectively, sign up to a broker with low fees and get started.

Written by: Charlie Hancox
Charlie joined the Invezz team in 2021. He previously worked in the mining and natural resources sector, providing in-depth analysis and incisive journalism. Charlie's experience with financial markets and investment reinforces a growing team.