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How to Buy Luna
- What is Luna?
- Where to Buy Luna?
- How to Buy Luna(LUNA) From DEX?
- How to Buy Luna(LUNA) From DEX?
- What to Do After I Buy Luna
- Frequently asked questions
What is Luna?
The original chain will be branded Terra Classic. The new chain will assume the name Terra.
The Terra protocol is the leading decentralized and open-source public blockchain protocol. Luna provides its holders with staking rewards and governance power. The Terra ecosystem is a quickly expanding network of decentralized applications.
Luna is the Terra protocol’s native staking token. Luna is used for governance and in mining. Users stake Luna to validators who record and verify transactions on the blockchain in exchange for rewards from transaction fees.
Where to Buy Luna?
Huobi Global
Binance
Kucoin
Coinbase
OKX| Exchange | Pairs | Price | Volume | Volume% | 24h% | Updated |
|---|---|---|---|---|---|---|
 HTX | LUNA/USDT | $0.5724 | $4,366,710 | 42.53% | 0.40% | Recently |
 Binance | LUNA/USDT | $0.5725 | $3,023,657 | 31.87% | 0.35% | Recently |
 OKX(OKEx) | LUNA/USDT | $0.5724 | $1,104,189 | 11.08% | 0.43% | Recently |
 Bybit | LUNA/USDT | $0.5724 | $208,442 | 2.27% | 0.37% | Recently |
 KuCoin | LUNA/USDT | $0.5724 | $100,130 | 1.04% | 0.41% | Recently |
 Crypto.com Exchange | LUNA2/USD | $0.5713 | $33,237.21 | 0.29% | 0.82% | Recently |
There are two types of crypto exchanges that support Luna trading, they are centralized exchanges (CEX) and decentralized exchanges (DEX), the steps of buying Luna in two types of crypto exchanges are different:
- If you want to buy Luna in CEX, it is recommended to buy USDT or BTC first, then swap them to Luna in CEX. If the CEX or crypto wallet that you are holding USDT or BTC did not support Luna trading, then you need to withdraw and deposit to another CEX that supports Luna and swap.
- If you want to buy Luna in DEX, you need to know what mainnet the DEX is built on. For example, if you want to buy Luna on Uniswap or Sushiwap that are run on Ethereum Blockchain, you should purchase ETH by fiat first and then swap. However, if you want to buy Luna on Pancakeswap which is run on Binance Smart Chain, you should purchase BNB by fiat first. By analogy, if you buy Luna from DEX run on other blockchains, you need to use fiat to buy the corresponding mainnet cryptocurrency first.
How to Buy Luna From CEX?
Since the operation procedures vary from different CEX, we can't provide you a step-by-step guide on how to buy in all the different centralized exchanges(CEX), but we can provide you with some general procedures.
- Step 1: Register an account on the centralized exchanges(CEX)'s official website or the app. ( Check Exchange Ranking), if CEX supports (eg. Binance) one-step sign up with your social account, you can sign up with your social account directly.
- Step 2: Verify your identity & secure your centralized exchanges(CEX)'s account. You are typically required to have a government-issued identification document. For asset security, you'd better Enable Two-step Verification.
- Step 3: Use fiat to buy USDT, ETH, or BNB. You can use the service provided by the CEX which supports OTC trading or use the financial service platform(Paypal, or Robinhood, available for US residents) that supports funding via either your bank account or credit card.
- Step 4: Transferring your USDT, ETH or BNB, etc. purchased by fiat to the CEX that supports Luna trading in spot market. If the CEX that you're using both supports purchasing USDT, ETH, or BNB via fiat, and LUNA-USDT, LUNA-ETH, or LUNA-BNB, etc, trading pair, then you can trade in the same platform and don't need to transfer to another platform that supports Luna.
- Step 5: Buy Luna in spot market by USDT, ETH, or BNB.
Note: Some CEX may not available in your country or area, you'd better consult the exchange's customer service or check the announcement from exchanges. As for the tax issue, you may consult the local department for more information.
How to Buy Luna From DEX?
Each DEX may differ in its functions, however, the trading procedures are similar.
- Step 1: Go to the decentralized exchange (DEX) page
- Step 2: Download and install a Web3 crypto wallet(such as Metamask) or App wallet (such as Trust Wallet) which is supposed by the DEX. (Choose one from Top Crypto Wallet Ranking)
- Step 3: Create and set up a new wallet. (Learn more about how to use a crypto wallet, please check the learning about crypto wallats)
- Step 4: Transfer ETH, BNB, etc.(the corresponding mainnet cryptocurrency of the blockchain that DEX runs on) that purchased by fiat to your self-custody crypto wallet address. If you have the coins in your CEX wallet, find the "withdrew "option and paste the crypto wallet address, and transfer.
- Step 5: Connected your wallet to the decentralized exchange (DEX), in general, click "Connect Wallet" on the upper right side of the DEX and followed the instructions to connect.
- Step 6: Find the "Swap" option on DEX, then choose the token you want to trade from the dropdown menu in the "From" section and Luna in the "To" section, if you can't find Luna in the list, you can input the contract address of Luna and add. Next, type an amount for your "To" currency by clicking inside the input box. You can also type your "From" amount and have the "To" amount estimate automatically if you like.
- Step 7: Check the details, and click the "Swap" button. When you are ready, click the "Confirm Swap" button. Your wallet will ask you to confirm the action.
- Step 8: Done! You can see your transaction details on the block explorer.
Note: Since there are many fake tokens on the decentralized exchange (DEX), please beware of the scam token.
What to Do After I Buy Luna
Store/Hold Luna
Many investors hold their Luna with the expectation of it increases in value. You can store your Luna on your exchanges' wallets(such as Binance Wallet) or on crypto wallets( such as Trust Wallet), if you wish to store them for the long term, you can store them in a cold wallet instead of a hot wallet. ( Hot Wallets vs Cold Wallets: What's the Difference? ).
Trade Luna
You can trade Luna for other cryptocurrencies on crypto exchanges. Cex or Dex exchanges offer some trading pairs for Luna trading to meet your needs.
Earn Luna
Earn Rewards by staking coins. Staking is a great way to maximize your holdings in staking coins that would otherwise be sitting in a wallet or trading account.
Transfer
Unlike sending money overseas, you can send Luna to anyone in the world virtually instantly.
Purchasing Goods
Some online platforms or offline shops accept crypto as payments. You can purchase good or service from these places.
Frequently Asked Questions(FAQ)
Can I buy 1 Luna?
Is Luna a good investment in 2024?
The crypto market is incredibly volatile like the stock market, it is not recommended to invest all your assets in crypto. Investors definitely need to evaluate the pros and cons of Luna. Sometimes you should do some research, for example, read the white paper of the project or check the data of historical Luna price or Luna Return On Investment(ROI). Ultimately, it depends on your appetite for risk.
How to Store Luna?
If you want to keep and hold Luna for the long term and do not plan to sell them, security may be the first thing you should consider. Although keeping them in most of the top exchanges' wallets nowadays is safer than before, with the development of security techniques, however, because of the very nature of the wallets in exchanges, they will be always online( so-called "hot wallet"), it is possible of being a hack. What's more, the exchanges shut down may cause the loss of your fund. So the safest way of storing your coins or tokens is always putting them into "Cold Wallets", it is the wallet that is totally offline. There are two types of cold wallets:
- Paper wallet: It is simply formed by using a program to randomly generate a public and private key offline and you can print them on a piece of paper, which you then store and save in a secure place. The keys are printed in the form of QR codes which you can scan in the future for all your transactions.
- Hardware cold wallet: Hardware wallets are physical devices where you can store your cryptocurrency. Your crypto addresses and keys can be kept in a USB drive device, and only the person who possesses the USB drive can access the assets.
Nowadays, most people prefer to use hardware cold wallets, if you want to store a large number of coins or tokens, you can choose to use a hardware cold wallet to store your assets.
How long does it take to buy Luna?
As for DEX, the transaction will be confirmed by the node in the network. The confirmation time depends on your gas price. If you submit with a low gas price, you can find your transaction taking a long time to process. For advice on what gas prices will result in a transaction being finalized in a reasonable amount of time, if you are using the Ethereum network, please refer to sources such as Etherscan's gas tracker, or a similar tracker for whichever network you're using.
Luna Price
Luna price today is $0.5724 with a 24-hour trading volume of $9,889,937. LUNA price is down -0.68% in the last 24 hours. It has a circulating supply of 744.16Mil LUNA coins and a total supply of 1Bil.