Last update: Jun 6, 2022

How to Buy Terra (LUNA)

Marco velaAuthor: Marco Vela - Fact-checked ✓

So you’re looking for a guide on how to buy Terra. Depending on where you live, you’ll have various exchanges to choose from.

In this guide, we not only cover the top 3 global crypto trading platforms, but also the best exchanges for Australia, Canada, and the UK.

Let’s get started!

Terra

How to Buy Terra – 4 Easy Steps

1. Choose a cryptocurrency exchange

Finding a cryptocurrency trading platform isn’t that hard. There are plenty of big players out there that have been around for quite some time.

This is where our comparison tables can help. The important factors to look for are fees, security, and if they have Terra of course.

2. Sign up with the crypto exchange

Signing up with any of the major exchanges is generally very easy. The initial sign up should be very fast, and even the verification processes are very well set up these days.

3. Fund your account

Next, you would need to fund your account with either fiat money (USD, AUD, GBP, CAD, etc) or another cryptocurrency like BTC or ETH. This process should again be straightforward and easily done using one of the bigger cryptocurrency exchanges.

4. Buy Terra

Now that you have what you need to buy Terra, head over to the market or buy section of the crypto exchange and buy some LUNA.

If the crypto exchange doesn’t have any Terra on offer, for most cryptocurrencies you can buy Ethereum instead, transfer it to a decentralized exchange like Uniswap (check if Uniswap has Terra first), and trade your Ethereum for Terra.

Where to Buy Terra (LUNA)

These are our top 3 exchanges based on the number of cryptocurrencies on offer, security, ease of use, and fees.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
BinanceUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
FtxUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX
Etoro logoUSD, GBP, AUD, EUR, and more50+credit card, skrill, paypal, bank transfer, and moreVisit eToro
Disclaimer: Cryptocurrencies are volatile and may involve a lot of risk. Their performance is very unpredictable and past performance is no guarantee of future performance. Consult a financial advisor or obtain your own advice independent of this site before relying and acting on the information provided.

How to Sell Terra

  1. Sign into the crypto exchange where you bought Terra.
  2. Move your Terra to the right place on the cryptocurrency exchange. Some exchanges have trading accounts you need to use for buying and selling.
  3. Sell Terra.

 

Crypto trading

How to Buy Terra (LUNA) in Australia

Looking at Australian crypto exchanges, it's always good to check if the exchange is registrered with AUSTRAC (Australian Transaction Reports and Analysis Centre). In addition, it would be handy if the exchange has integrated with POLi pay and PayID for instant AUD deposits.

If you’re looking to buy Terra in Australia, the process remains the same:

  1. Find a cryptocurrency exchange below.
  2. Sign up for an account.
  3. Fund your account with AUD.
  4. Buy Terra if it’s available. If the exchange doesn’t have Terra. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Terra), and trade your ETH for Terra.

It’s also possible to check out our comparison of the safest crypto exchanges in Australia if you’re interested in learning more about which exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Swyftx logoAUD, NZD300+bank transfer, POLi pay, PayID, credit cardVisit Swyftx
Binance logoUSD, AUD, EUR, GBP, CAD, CNY, and many more.350+Credit card, Cryptocurrency, Debit card, and moreVisit Binance
Ftx logoUSD, EUR, GBP, AUD, HKD, CAD, CHF, BRL250+Wire transfer, Credit card, Silvergate Exchange Network, SIGNETVisit FTX

How to Buy Terra (LUNA) in Canada

When researching Canadian crypto exchanges, make sure they're registered with FinTRAC (Financial Transactions and Reports Analysis Centre of Canada) and ideally support Interac e-Transfer (in addition to wire transfer and maybe credit cards) for smooth CAD deposits.

If you’re looking to buy Terra in Canada, the process remains the same:

  1. Find a crypto trading platform below.
  2. Sign up for an account.
  3. Fund your account with CAD.
  4. Buy Terra if it’s available. If the exchange doesn’t have Terra. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Terra), and trade your ETH for Terra.

Or, if you’d like to know more about which exchanges we prefer, read our comparison of the best places to buy bitcoin in Canada.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Bitbuy logoCAD15+Wire transfer, Interac e-TransferVisit Bitbuy
Coinberry logoCADBitcoin, Ethereum, Litecoin, BCH, XLMInterac e-Transfer, Wire transfer, Credit card, Debit cardVisit Coinberry
Ndax logoCADBitcoin, Ethereum, Litecoin, and 4 morewire transfer, Interac e-Transfer, Bank draftVisit ndax

How to Buy Terra (LUNA) in the UK

We recommend only looking at UK cryptocurrency exchanges that are registered with the FCA (Financial Conduct Authority). As for GBP deposit methods, the top exchanges should support FPS transfers (Faster Payments Service) and ideally credit/debit cards.

If you’re looking to buy Terra in the UK, the process remains the same:

  1. Find a cryptocurrency trading platform below.
  2. Sign up for an account.
  3. Fund your account with GBP.
  4. Buy Terra if it’s available. If the exchange doesn’t have Terra. You can buy ETH instead, transfer it to a decentralised exchange like Uniswap (check first if Uniswap has Terra), and trade your ETH for Terra.

You can also take a look at our analysis of the trusted crypto exchanges in the UK for those interested in learning more about which exchanges we would recommend.

ExchangeFiat currenciesCryptocurrenciesDeposit methodsSite
Cex logoGBP, USD, EUR10+Bank transfer, credit card, debit cardVisit CEX
Coinjar logoGBP50+Bank Transfer (FPS), Visa, MastercardVisit Coinjar
Coinbase logoUSD, GBP, EUR150+Bank transfer (FPS), credit/debit cardVisit Coinbase

Cryptocurrency trading

Considering buying Terra? LUNA Rundown

Terra is a blockchain protocol which uses fiat-pegged stablecoins for price-stable global payment systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

The development of Terra started in January 2018 and the mainnet was launched in April 2019. It currently offers stablecoins that are pegged to the U.S. Dollar, South Korean Won, Mongolian Turik, and the International Monetary Fund’s Special Drawing Rights basket of currencies.

Terra's native token, LUNA (Luna), is used to stabilize prices for the protocol's stablecoins. LUNA holders can also submit and vote for governance proposals. This gives it the functionality of a governance token.

Terra is a fiat-pegged stablecoin that seeks to be unique. It claims it combines the benefits of cryptocurrencies and the price stability of fiat currencies. The algorithm that adjusts stablecoin supply according to demand ensures it keeps its one-to-1 peg. It does this by encouraging LUNA holders swap LUNA for stablecoins at profitable exchange rate to expand or contract stablecoin supply in line with demand.

Terra has formed a variety of partnerships with payment platforms, especially in the Asia-Pacific region. Terra announced in July 2019 a partnership with Chai (a South Korean mobile payments app). Purchases made through the app on e-commerce platforms will be processed using the Terra blockchain network. The merchant is charged an average of 2% to 3% for each transaction.

Terra Alliance is a coalition of platforms and businesses that support Terra's adoption. The company announced in February 2019 that 10 e-commerce platforms representing 45 million users and a total gross merchandise value of $25 Billion were now members of the alliance.

Related:

author Marco Vela

A crypto obssessed digital marketer passionate about making a difference in the world. When he's not behind the computer he can be found hiking, camping and relaxing with his dog.