If you have been in the cryptocurrency world, you might have come across LUNA, the native crypto on Terra’s platform. This native coin is used to provide liquidity to the platform. This is because the decentralized finance programs require liquidity to function ideally.
The Terra platform gives rewards to users as a way of motivating them to continue staking LUNA on their platform. One main reason why staking is important is that the platform requires staking to ensure liquidity. Also, stable coin prices need to be adjusted now and then through rebalancing algorithms.
Our article today will help you understand where and how to buy LUNA. These are some of the most important things you need to know when you are interested in staking LUNA.
Where and How to Buy LUNA
Before we get to how to buy LUNA, you must select a crypto exchange where this new crypto is offered. A lot of exchanges have begun offering LUNA, and it might be hard to pick the best one. This is why we have compiled this list of the best exchanges where you can easily buy LUNA.
- l Loop – Loop is a popular market for LUNA. They also provide essential information and tools to users. A user can conveniently connect a wallet to check important information on the dashboard or swap tokens and more. With Loop, you can easily learn how to buy LUNA.
- l Crypto.com – This is one of the best places to purchase LUNA. With this platform, you can trade cryptos for an extremely low fee. After you buy LUNA, Crypto.com offers you various ways you can interact with your LUNA. They also provide a free Crypto.com wallet, which is a reliable and safe storage method for LUNA.
- l eToro – Today, eToro is one of the recommended platforms you can use to buy LUNA. The best part about using eToro is that you can purchase the LUNA with a credit card or even a debit card. Impressively, you do not have to pay any extra processing fee. eToro also supports different e-wallets such as PayPal and a few others. As a user, you do not pay much in fees; it is affordable.
- l Coinbase – If you are a beginner, then this is a great platform for buying LUNA. It is easy to use and charges an affordable fee. All you have to do is to choose how much LUNA you want to buy and add all the necessary payment details.
How to Buy LUNA
You now have a good idea of where you can buy LUNA. The next thing you must know is how to buy LUNA. The steps are pretty simple.
l Open an account – You can choose any of the above platforms and join. You will need your email, username and password, address, and the like.
l Make a deposit – Make a deposit of any amount you want to your account. You can use a debit card or credit card, PayPal, a bank account, and the like.
l Search for LUNA – After making your deposit, now you can search for LUNA. When you find it, click on the trade to open up a new order form.
l Buy LUNA – The last step when it comes to how to buy LUNA is just making a LUNA purchase. You only need to click “open trade” or a similar selection and complete the process.
How to buy LUNA is as easy as that. You can just choose any of the above platforms and make a purchase. The steps are also very easy to follow, and you will not have any hurdles along the way.