How to Buy LUNA

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LUNA is a crypto token that uses multiple fiat-pegged stablecoins to promote payments that can be programmed. The best way to approach a LUNA investment is to use a regulated broker.

In this guide, we instruct on how to buy LUNA from the comfort of your home. We also explain how to create a broker account, and review the best places to buy LUNA online.

 

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Table of Content

     

    How to Buy LUNA in 10 Minutes or Less – Fast Track Guide

    If you want to understand the ins and outs of how to buy LUNA, you will need to have a broker lined up. This is because a reputable platform is a sensible way to access this unpredictable marketplace.

    You will see a quick guide below, instructing you on how to sign up and buy LUNA in 10 minutes or less.

    • Step 1: Create an account with a trustworthy cryptocurrency broker – The best place to buy LUNA will ideally be licensed by a tier-1 regulatory body. Give the broker your home address, full name, date of birth, and a safe password and username that you will remember moving forward. Confirm everything to proceed to step 2.
    • Step 2: Complete the KYC Process – The client identification procedure is commonplace at reputable trading platforms. To finish the KYC process and buy LUNA, you will upload a copy of a bank statement to prove your address. Next, add a photo ID, so the broker can further validate the information you provided in step 1.
    • Step 3: Make a Deposit – Investigate what payment types are accepted. The easiest option is a debit/credit card – although some brokers also support e-wallets. Finally, enter an amount to deposit, and confirm all details entered are right.
    • Step 4: Buy Luna – The best broker to buy Terra will allow you to place small orders when purchasing cryptocurrencies. Think about how much to risk, place an order, and the LUNA position will appear in your portfolio.

    As is clear, it’s never been easier to hit the markets and buy LUNA. The tricky bit can be finding a good broker. Please continue reading to see a review of the best platform to buy LUNA.

    78.77% of retail investor accounts lose money when trading CFDs at this provider

    Best Broker to Buy LUNA

    The best broker to buy LUNA will offer a quality service, and should at least tick a few boxes on things like regulation and low fees.

    Next, to shine some light on the subject, you will find a quality-control checklist. You can use this as a guide when carrying out your search to find the best place to buy LUNA:

    • To buy LUNA in a safe place, look for licenses from a reputable body like the FCA or ASIC, amongst other tier-1 regulators.
    • Do your homework. Ensure the fees you need to pay to enter the cryptocurrency markets and fund your account are competitive.
    • You should find the broker’s website simple to use. This will ensure that placing orders to buy LUNA is swift and convenient.
    • Consider deposit methods. There should be a good selection of supported payment types to choose from.
    • Look for a broker with a varied list of digital markets.

    Now that’s the most important metrics out of the way, we can offer a full review of the best platform to buy LUNA.

    1. Capital.com – Overall Best LUNA Trading Platform

    Capital.com is the overall best trading platform to buy LUNA via Contracts for Difference (CFDs). If you are a beginner and are not quite ready to take ownership of, or secure your investments, you don't have to. In turn, this means you won't need to seek out the best LUNA wallet for your tokens. You will only need to speculate on the value of the underlying asset. Moreover, this broker offers 0% commission on LUNA trades.

    You will be charged the spread here, which is super-tight. We examined Capital.com and found that the site is really easy to navigate. Finding your chosen asset is easy with the search bar. There are tons of digital markets. As well as being able to buy LUNA via CFDs, you can also trade pairs that include Ripple, Ethereum Classic, Cardano, Solana, VeChain, and others. Additionally, you have access to CFDs on Bitcoin, Litecoin, and other early additions to the crypto scene.

    When you buy LUNA via CFDs, this often comes with leverage, which you can customize. Click on trading options in your account and you will find the leverage settings. Beginners are best sticking with a manageable amount like 1:2. If this is available to you, it means if you allocate $100 to LUNA, you can open a position of $200. Sign up with Capital.com by entering some basic information and completing the KYC procedure. We cover this in more detail later for any newbies.

    The standard minimum deposit is just $20 via e-wallets, and debit and credit cards. Furthermore, you will not be required to pay a transaction fee, regardless of the method used. Please note that for bank transfers, you must fund your account with $250 and over. Notably, the latter is also the slowest way to get the ball rolling and buy LUNA via CFDs. Some well-known financial bodies regulate this broker, so the platform follows rules to a high standard. Bodies comprise ASIC, the FCA, and CySEC.

    Our Rating

    • Buy LUNA via CFDs with 0% commission
    • Minimum deposit of $20 when you add funds with credit/debit cards or e-wallets
    • Licensed by reputable regulators, the FCA, ASIC, CySEC, and NBRB
    • Highly experienced crypto traders may find the platform too basic
    78.77% of retail investors lose money when trading CFDs with this provider

    How to Buy LUNA – Step-by-Step Walkthrough

    You will notice that we have opted to use Capital.com for the following walk-through. This makes sense because, in our earlier review, the top-quality CFD trading platform was revealed as the best place to buy LUNA (via CFDs).

    Highlights of buying LUNA at this brokerage include:

    • Being able to buy LUNA via CFDs, and also trade hundreds of other cryptocurrency pairs. This includes everything from Ethereum to IOTA.
    • Capital.com complies with a high standard of regulation. Thanks to the licensing and approval of top-bodies, the FCA, CySEC, and ASIC.
    • 0% commission is offered on all crypto CFDs.
    • The broker site is straightforward, making Capital.com very user-friendly.

    As noted, next you will find a more detailed step-by-step guide on how to buy LUNA in a safe and swift manner.

    Step 1: Open a Crypto Broker Account

    Signing up with Capital.com shouldn’t be a stressful affair. To get started and buy LUNA via CFDs, you can click ‘Sign Up’ on the main page.

    Fill in the boxes until you have entered all information. This is likely to include a username and password of your choice.

    Add your contact details, comprising email and mobile number. Capital.com will also require you to fill in your first and last name, residential address, nationality, and date of birth. Confirm all to proceed.

    78.77% of retail investor accounts lose money when trading CFDs at this provider

    Step 2: Complete KYC

    To begin the KYC process to buy LUNA, you can upload a scan or a photo of your ID. This must include a photograph, such as your passport. When prompted by the broker, you can also upload something with your name and address on it.

    The latter could be a recent utility bill or bank statement. All being well, completing the KYC validation process takes minutes at Capital.com. It’s important that if you take photos of your documentation, they are clear.

    Step 3: Deposit Funds

    Capital.com is compatible with tons of payment methods and supports various currencies. This includes US dollars, euros, British pounds, and others.

    To buy LUNA, you can add funds to your account using the following methods:

    • E-wallets include Neteller, Android Pay, ApplePay, PayPal, and others.
    • If you would prefer to use your debit or credit card to buy LUNA, the broker supports Maestro, Visa, and Mastercard.
    • Bank wire transfer is also an option at Capital.com.

    The minimum deposit needed to fund your account with most of the above-mentioned payment methods is $20. However, if you were to choose a bank wire transfer instead, the lowest deposit would be $250. Moreover, bear in mind that you may not be able to buy LUNA for 3-7 days should you opt for a bank wire.

    Step 4: Search for LUNA

    By now, you should have added trading funds to your account and completed the KYC verification process. This how to buy LUNA guide found the Capital.com search function to be very intuitive.

    As such, you can begin to type LUNA in the box provided, and should see the same result as below.

    As you can see, other results will also appear, so make sure you are on LUNA before selecting to confirm your choice.

    Step 5: Place Buy Order

    The chances are, when studying how to buy LUNA, you have considered how much you might want to allocate to tokens. After ensuring the order box is LUNA-specific, press the buy button.

    Next, add the amount you wish to allocate to LUNA, confirm the purchase, and you will find the asset in your portfolio

    Step 6: How to Sell LUNA

    Assuming you learned how to buy LUNA tokens and choose to sign up with a regulated online broker like Capital.com – you will find that cashing out is as simple as making a purchase.

    Below you will find a guide on how to sell this digital asset, specifically, at Capital.com:

    • Head over to your portfolio to view all open positions.
    • Find LUNA amongst the list and click ‘Close’.
    • Next, press the ‘Close Position’ button. You will see this to the right of your portfolio.
    • Whatever the current market price of your position, the broker will add the proceeds to your trading account.

    As is evident, the process of selling cryptocurrencies from the comfort of home couldn’t be easier. Many brokers also offer a free app, so that you can sell and buy LUNA on the go.

    Best LUNA Wallets

    If you are done learning how to buy LUNA, and now intend on finding a good wallet to store your digital assets – read on. Next, we talk about the best LUNA wallets in the market.

    Terra Station – Most Convenient LUNA Wallet

    The Terra Station wallet allows you to stake, swap, store, and buy LUNA. This is the official storage solution for all cryptocurrencies within the Terra network. As such, you may find it the most convenient.

    • The Terra Station LUNA wallet is available on various platforms. This includes a Chrome extension, desktop edition for windows and macOS, or a mobile app, for Android and iPhone users.
    • LUNA holder rewards and extra tokens are regularly awarded via the Terra Station wallet.
    • There are heaps of intelligence tools available on the Terra wallet. This includes your activities, live LUNA price data, smart contract information, staking, and governance options.
    • You can add various wallets to your Terra Station storage option too.

    We mentioned the ability to use Terra Station in unison with other crypto wallets. For people who buy LUNA, one of the most popular wallets to use alongside this option is the Ledger Nano. We offer an explanation of this next.

    Ledger Nano  – Best LUNA Wallet for Security

    The Ledger Nano is one of the more well-known hardware wallets in the cryptocurrency space. This is a physical device that stores your private keys away from thieves. It is absolutely essential that you keep this in a safe place, to avoid it falling into the wrong hands.

    If you buy LUNA and consider the Ledger Nano, there are a few things you should be aware of:

    • It is widely advised to use Ledger Live to ensure the authenticity of the Ledger Nano hardware wallet.
    • Importantly, straight out of the box, the Ledger Nano doesn’t support LUNA tokens.
    • As such, you will need to add Terra Station to your crypto wallet via the Ledger Live program/application.
    • On Ledger Live, open ‘Manager’ and locate Terra amongst the supported apps. You can then install it on your LUNA wallet.
    • Take note, you will need to pay anywhere between $50 and $200 to buy this hardware wallet.

    Beginners may find the idea of spending money on a device and looking after private keys intimidating. This is why many newbies look to buy LUNA via CFDs. As we said, this involves trading based on the prediction of its future price – meaning you don’t need to worry about storage.

    What is LUNA?

    Want to learn how to buy LUNA in full? If so, it’s important to know that Terra is a blockchain payment platform. LUNA powers it, with the help of intertwined stablecoins created by the network.

    • Terra was created in 2018 by Do Kwon and Daniel Shin.
    • The former specialized in software management at Microsoft and Apple. The latter has an entrepreneurial background in the e-commerce sector.
    • LUNA was introduced a short time after, in 2019.

    Terra has many of its own algorithmic stablecoins. This, in theory, makes it much less volatile than your average blockchain project. It’s important to learn every aspect of how to buy LUNA. We talk about stablecoins next, to clear the mist for newbies.

    LUNA – Reasons to Buy

    LUNA has grown exponentially this year. If that’s not enough reason to buy this cryptocurrency, see some inspiration below.

    Luna: Pegged to Multiple Stablecoins

    When you look to buy LUNA, you will see that the digital currency is vital for stabilizing the value of the Terra project’s stablecoins.

    As such, when you purchase LUNA, you should be aware of the many stablecoins under the umbrella of this network. Terra offers a range of fiat-pegged cryptocurrencies, which means it is more likely to be widely accepted by businesses.

    Below, you will see some of the stablecoins offered by the Terra (LUNA) network:

    • US dollars – TerraUST
    • Swiss francs – TerraCHT
    • Canadian dollars – TerraCAT
    • Euros – TerraEUT
    • Mongolian tugrik – TerraMNT
    • Hong Kong dollars – TerraHKT
    • British pounds – TerraGBT
    • Australian dollars – TerraAUT

    Digital currencies are notorious for their sharp price fluctuations, in either direction.

    As such, with so many stablecoin ties, LUNA is all set for a future where the majority of companies may accept digital assets as payment. For instance, businesses that might otherwise be wary of such volatile cryptocurrencies.

    LUNA Keeps the Terra EcoSystem Stable

    Cryptographic versions of fiat currencies are said to be the future of E-Commerce. One of the most well-known is Tether (USDT), pegged to the US dollar. However, as we mentioned, Terra also has many stablecoins of its own.

    As you can see from the previous section, this includes everything from US dollars to Mongolian tugrik. All-in-all, LUNA is a staking token and plays an important part in maintaining the balance and stability of its ecosystem.

    See below for a theoretical example of how LUNA plays a part in maintaining the Terra ecosystem, and how trading is incentivized for token holders.

    • Let’s imagine TerraUST (pegged to the US dollar) is in high demand.
    • As a result, instead of the price being $1, it has risen to $1.06.
    • To counterbalance this, the network will create more UST tokens.
    • If you hold LUNA, Terra will allow you to swap a token for UST, 1 for 1.
    • You can then sell the aforementioned UST tokens for a 6% profit.

    This is a popular incentive offered to LUNA holders, to reduce the supply of the asset in question. The goal is to stabilize the price.

    The Terra network offers this trading incentive on all of its stable coins. In other words, this applies whether the token is pegged to the euro, Swiss francs, or the pound.

    LUNA Growth

    As we touched on, LUNA was introduced in 2019. This token, like most other cryptocurrencies, has risen and fallen in value. This volatility is where you can try to make gains.

    Take a look at some of the price spikes experienced by LUNA over the last two years or so:

    • On July 27th, 2019, LUNA was priced at $1.31.
    • By the same date in 2020, the cryptocurrency had fallen by over 70%. This means you could have bought LUNA for $0.39 per token.
    • By March 21st, 2021, the value of LUNA had skyrocketed to $21.98.
    • Within 2 months, on May 21st, 2021, you would have been able to buy LUNA tokens for $4.10 each.

    So, is this a valid reason to buy LUNA? Well, let’s imagine you had proceeded to buy LUNA on July 27th, 2020. Next, let’s say that you held onto your tokens. If you decided to sell them now, over a year later, you would make a profit of 9,102%.

    This is because, at the time of writing, LUNA is valued at $35.89 per unit! As is clear, there could be an opportunity to make some gains from the price spikes of this cryptocurrency.

    Investment Risk

    The biggest risk to be mindful of when researching how to buy LUNA is that you could lose your capital. This is because digital assets like this are known to rise and fall in value suddenly.

    • Like most assets, the price of cryptocurrencies is mainly decided by supply and demand.
    • Demand and supply levels can change in a heartbeat, which means if you are incorrect in your speculation of LUNA’s rise or fall, you could lose money.

    However, all is not lost. See below some tried and tested ways to lessen the risk involved when you elect to buy LUNA:

    • Access LUNA via CFDs, so you don’t have to worry about storage and private keys.
    • Only risk small amounts when you buy LUNA. You might try dollar-cost averaging, which will involve purchasing a small quantity of Terra on a regular basis.
    • Think about adding other cryptocurrencies, as well as LUNA. This should lessen the risk as you are spreading it across more than one asset.
    • Don’t even consider unregulated spaces to buy Terra, as you won’t know whether the platform is legit until it’s too late. Top licensing bodies to look for when choosing a broker include CySEC, FCA, ASIC, and NBRB.

    Of course, you must bear in mind that token prices can rise and fall at any time, so it’s important to keep an eye on the markets. Public sentiment, celebrity endorsements, and negative or positive publicity can also affect the price of digital currencies.

    How to Buy LUNA – Conclusion

    This guide covered the most important aspects of how to buy LUNA safely online. We reviewed a ton of platforms and our research found that the best way to access such a speculative asset class is with the help of a regulated brokerage. On top of regulatory standing, you can also think about alternative market availability, trading fees, usability, and storage.

    If you would rather not worry about storing Terra tokens, you might find the best broker to buy LUNA is at Capital.com. You can access tons of cryptocurrencies via commission-free CFDs. Moreover, the FCA, ASIC, CySEC, and NBRB regulate the trading platform. Get started from just $20, by choosing from a list of e-wallets and credit/debit cards to fund your account.

    Eightcap - Regulated Platform With Tight Spreads

    Our Rating

    • Minimum deposit of just $250
    • 100% commission-free platform with tight spreads
    • Fee-free payments via debit/credit cards and e-wallets
    • Thousands of CFD markets including Forex, Shares, Commodities, and Cryptocurrencies
    Start your journey towards reaching all your financial goals right here.

     

    FAQs

    How do you buy LUNA with Paypal?

    To buy LUNA with PayPal, you need to locate a platform that accepts it. Whilst not many cryptocurrency brokers support PayPal, Capital.com does. You will not pay a deposit fee and can get started with as little as $20 with this payment type.

    How do you buy LUNA with a credit card?

    To buy LUNA with a credit card you must first make sure the broker supports this payment method, and then check the fees stipulated. For instance, some issuers charge a cash advance fee to use a credit card to buy cryptocurrencies. Capital.com does not charge a fee to use this payment type.

    Can you buy LUNA on Coinbase?

    No, You cannot buy LUNA on Coinbase, because it is not supported. You can, however, buy LUNA via CFDs at Capital.com with ease. Using a credit/debit card, or e-wallet, you can fund your account with as little as $20. You will not pay commission fees to trade cryptocurrency CFDs, and can also access tons of other digital markets. The broker is regulated by the FCA, ASIC, CySEC, and NBRB

    How do you buy LUNA with a bank transfer?

    Buying LUNA with a bank transfer can be a drawn-out process. However, many online platforms now accept this payment type. You won't usually have to pay fees to make a deposit this way. However, you will have to wait days on end to see the funds in your available balance. Most brokers stipulate between 3 and 7 business days depending on your bank.

    How do you sell LUNA?

    To sell LUNA via an online broker, you will need to sign in to your account to access your portfolio of assets. Then, it's a simple process that entails selecting the asset by clicking it and hitting the sell button. The proceeds will be added to your balance by the brokerage. The Capital.com website is beginner-friendly and accessing your portfolio to cash out takes a few clicks.