Discover how to buy Terra (LUNA) on an exchange you can trust
Getting started with crypto can feel overwhelming, but learning where and how to buy crypto is simpler than you might think.
Terra (LUNA) is currently at
$0.073730
-$0.00620 (-8.41%)
Last updated on --.
How can I buy Terra on OKX?
Whether you're new to crypto or an experienced trader, you can buy Terra using the OKX Wallet or Exchange.
Step one
Get OKX
Download the app and sign up in a matter of minutes.
Step two
Fund your account
Deposit funds via bank transfer, credit card, or Apple Pay.
Step three
Choose Terra
Select Terra and buy using your chosen method.
Step four
Receive your Terra
Confirm your purchase and store your Terra in your portfolio.
What's Terra?
Terra is like a digital playground where people can use special tokens to do things like buy and sell goods or services. It was created to make money transactions faster and cheaper, especially for people who use different currencies. Imagine if you had a magic coin that worked everywhere, making it easier to trade without worrying about different types of money. Terra helps solve the problem of slow and expensive money transfers by using technology to make everything smoother and quicker.
How can I buy Terra?
1) Start by creating an account on OKX. Visit the website and click on 'Sign Up.' Provide your email and create a strong password. 2) Verify your identity by uploading necessary documents like a driver's license or passport. 3) Fund your account using a bank transfer, credit card, or other local payment methods available in the United States. 4) Once your account is funded, search for Terra in the marketplace. 5) Place a buy order by entering the amount of Terra you wish to purchase and confirm the transaction.
Why do people buy Terra?
People buy Terra because it offers a way to make transactions faster and cheaper, especially for those who deal with multiple currencies. Terra is used in various applications, like online shopping and financial services, making it a practical choice for everyday use. It is part of a growing ecosystem that supports decentralized finance, which aims to provide more accessible financial services. However, it's important to understand that using Terra requires some learning and adaptation to new technology.
Things to know before buying Terra in the United States
In the United States, cryptocurrencies like Terra are legal but regulated. You must complete KYC (Know Your Customer) and AML (Anti-Money Laundering) checks when setting up an account. This means providing identification documents. Tax implications include reporting any gains from selling Terra as capital gains, and income from activities like staking may also be taxable. It's crucial to keep records of all transactions for tax purposes and consult a tax professional if needed.
What are other ways to own Terra?
You can obtain Terra without buying it by participating in airdrops, where free tokens are distributed to users. Some platforms offer Learn-and-Earn programs, rewarding you with Terra for completing educational tasks. Participating in network activities like staking or providing liquidity can earn you Terra as rewards. These methods require effort and understanding of the processes involved, and there are risks, such as changes in token value or technical issues.
How can I store my Terra?
To keep your Terra safe, you can choose between custodial and non-custodial storage. Custodial storage means a third party holds your tokens, while non-custodial storage gives you full control. Hot wallets are online and convenient but less secure, while cold wallets are offline and more secure. Always back up your wallet and keep recovery phrases safe. Use strong passwords and enable two-factor authentication to protect your assets. Understanding these options helps you store Terra securely.
Why should I buy Terra on OKX?
Learn more about the security measures keeping your Terra safe and readily available.
Proof of Reserves
Our 1:1 reserve ensures your funds will always be available to you.
High liquidity
Our high trading volumes mean deeper liquidity and smoother execution for you.
Transparency
We ensure historical market data is available to you at all times.
Security
We adhere to the strictest global security and compliance standards.
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How to get Terra for free
Invite friends, earn rewards
See how you can get free Terra when you invite friends to trade with you.
Earn APY on your crypto
Earn interest down to every dollar and watch your Terra grow, for free. Put your crypto to work, 24/7.
See what you can do with your crypto
Now that you’ve mastered the art of buying crypto, check out its potential.
Trade Terra
Take advantage of price fluctuations and trade your Terra for other cryptocurrencies.
Send Terra
Send your Terra anywhere, anytime with fast, low-cost transfers.
Spend Terra
Use your Terra to pay for goods, services, and experiences seamlessly.
Hold Terra
If you think your Terra will increase in value, you can hold onto it.
Sell Terra
Convert your Terra to cash quickly and securely.
How to buy Terra (LUNA) FAQ
Depending on where you’re located, you can use bank transfer, credit/debit card, or Peer-to-Peer. Read our guide on how to use these different payment methods to buy Terra LUNA safely on a trusted exchange like OKX.
Choose the best exchange to buy Terra (LUNA) depending on your individual needs. Factors to consider when picking the best place to buy Terra (LUNA) include: security measures, platform transparency, fees, and efficient transaction processes. First-time beginners can consider trusted exchanges such as OKX.
Countries and regions differ on how digital assets transactions and holdings are taxed and how they view digital assets in general (money, property, commodity). In general, it is expected that you will pay capital gains tax when selling or swapping Terra. Refer here for a more detailed guide.
There are exchanges that offer users privacy and do not require verification to complete transactions. However, it is important to exercise caution as such exchanges might be more prone to fraud.
Use a trusted, centralized exchange such as OKX, which offers the ability to buy and sell Terra (LUNA), as well as fiat withdrawal options.
This depends on the method you use to convert Terra (LUNA) to cash. Withdrawals to a bank can take one to three working days to process, while withdrawals to a debit card can be almost instantaneous.
Disclaimer
This is provided for informational purposes only. It is not intended to provide (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets, including stablecoins and NFTs, are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances. Not all products are offered in all regions. For more details, please refer to the OKX Terms of Use and Risk Warning. OKX Web3 Wallet and its ancillary services are subject to separate Terms of Service.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.
You are viewing content that has been summarized by AI. Please be aware that the information provided may not be accurate, complete, or up-to-date. This information is not (i) investment advice or an investment recommendation, (ii) an offer, solicitation, or inducement to buy, sell or hold digital assets, or (iii) financial, accounting, legal or tax advice. Digital assets are subject to market volatility, involve a high degree of risk, and can lose value. You should carefully consider whether trading or holding digital assets is suitable for you in light of your financial condition and risk tolerance. Please consult your legal/tax/investment professional for questions about your specific circumstances.