Buy Terra (LUNA) with Credit or Debit Card with Lowest Fees

 What is Terra (LUNA) Coin?

Terra is a decentralized financial blockchain ecosystem with the goal of innovating money. Fundamentally, it employs its stablecoin protocol, smart contracts, and LUNA coin to facilitate a smarter digital economy.

At its heart, Terra hopes that its stablecoins may become a reliable medium of exchange. Getting there requires mass adoption, which entails overcoming the extreme volatility that continues to hamper many cryptocurrencies.

The Terra Protocol introduces principles of elastic-money supply and pegging to major fiat currencies to create price-stable coins. This follows basic principles of supply and demand, where the system increases supply to reduce currency prices and reduces supply to control the price stability.

While TerraUSD (UST) is one of its most popular coins, Terra has rolled out more Terra cryptocurrencies that may be exchanged for each other based on their market rates, including TerraJPY, TerraEUR, and TerraCNY.

What role does the Terra token LUNA play in this ecosystem?

The Terra (LUNA) token provides algorithmic collateral to the system. All Terra currencies eventually draw their peg from the token. For instance, before purchasing the TerraSDR, the system has to mint and sell LUNA, worth 1 SDR.

Controlling the supply of LUNA gives the system the ability to control the prices for multiple Terra stablecoins, rather than having the coins pegged only to one fiat currency. However, arbitrage points may exist within the ecosystem based on the distributions of LUNA to Terra stable coins. That may allow traders to make risk-free profits.

LUNA also powers the Terra protocol as it relies on Proof-of-stake. Validators, therefore, must stake LUNA to generate Terra blocks. Holding the LUNA (Terra) crypto gives users a say in the governance. They can stake LUNA to earn more coins after verifying and adding new blocks.

Who created the LUNA coin?

The Terra (LUNA) coin came into existence after the inception of the Terra blockchain platform, which is a creation of Daniel Shin and Do Knon, who co-founded TerraLabs. The two founders set out to create a truly usable cryptocurrency with mass adoption by merchants and users.

In a relatively short time, the Terra ecosystem has gained a lot of traction. In December 2021, it became the second-largest DeFi protocol, following Ethereum based on staked digital assets. The progress has not been immune to roadblocks. In 2021, the U.S. Securities and Exchange Commission probed Terraform Labs PTE, Ltd over allegations of selling unauthorized securities. It’s worth noting that they didn’t sanction the protocol or network by itself.  

What is special about Terra (LUNA) technology?

Terra (LUNA) draws its unique significance as a stablecoins network and a blockchain. It allows for the creation of decentralized finance apps (dApps) that leverage the platform’s smart contract capabilities.

Leveraging the platform’s stablecoins can enable the apps to have price-stable token economies. LUNA’s ecosystem can host apps from various categories, including staking, investing, lending, savings, AMM, NFT, marketing, referrals, etc.  

Developing Terra dApps is made quick and easy with SDKs for Javascript and Python, in-depth tutorials, and various tools. The ecosystem currently enjoys low network fees and fast & more efficient transactions.

While other stablecoins employ algorithmic pegs, the Terra supports the flexible creation of multiple stablecoins. Users can perform swaps between Terra currencies at market exchange rates. That opens up possibilities for cross-currency settlements and trade. It may also create stability by having a group of currencies rather than one.

How many LUNA coins have been issued?

The Terra (LUNA) crypto network is designed to have an equilibrium issuance of 1 billion coins. The circulating supply stood at about 368 million LUNA coins in Q1, 2022. The tokens may be removed from circulation (burned) to better regulate the price of Terra stablecoins.

How is a Terra network secured?

The Terra crypto LUNA network is secured using Proof-of-Stake, running the Tendermint Core consensus engine. Its validators are decentralized and are chosen to propose new blocks based on a weighting model determined by the total stake. LUNA holders can also help secure the system by staking their coins. They are referred to as delegators and share in revenues generated by validators.

Why is it worth investing in LUNA?

Stablecoins continue to draw heavy criticism as having no real value or backing, “Here today, gone tomorrow,” and “Backed by pure maths.” Terra shed some criticism after raising $1 billion worth of Bitcoin as an emergency reserve in February following its token sales to venture capital groups.

The bolstered strength and confidence resulted in the LUNA price skyrocketing and the coin climbing the charts to the top 10 crypto tokens. It’s hard to say if the hype around LUNA will fade off or if the currency will remain dominant.

The sound advice is not to invest more than you can lose in the LUNA cryptocurrency. Performing in-depth research is also key to making a sound investment decision.

FAQ

Where can I buy a LUNA coin?

Buy LUNA token right on Changelly through our industry-leading fiat to crypto partners. We simplify the hassle of getting good deals, as our platform shows the amount of LUNA you can get from each vendor. As a veteran among crypto exchanges, Changelly supports the exchange of LUNA to and around 400 other cryptocurrencies.  

Can I buy LUNA with a credit card?

Yes, Changelly makes it possible to buy Terra with their credit cards. Our partners support Visa and Mastercard that work across boundaries. Check to see that the fiat to crypto partners or cryptocurrency exchanges support card payments on the order page.

Can I buy a LUNA coin with a debit card?

To buy LUNA coin, complete your transaction on Changelly with your debit card. Our platform and partners employ strict security measures. You may even have to verify your identity as you purchase Luna.

Can I buy LUNA with PayPal?

You may buy Terra (LUNA) with PayPal on a crypto exchange platform that offers this payment method. At the moment, Changelly and its partners don’t officially support PayPal payments. But feel free to use other methods such as bank transfer.

Where can I store my coins?

Terra Station serves as the native cryptocurrency wallet for the Terra (LUNA) crypto coin. The Terra Luna wallet comes with the ability to swap coins, stake LUNA, or participate in governance. The station is accessible as a web extension. Alternatively, store Terra (LUNA) on other third-party supported software wallets and in cold wallets on a physical device.

Can you buy LUNA without KYC on Changelly?

Changelly partners with fiat-to-crypto payment providers such as Simplex, Indacoin, Banxa, and MoonPay. As they work in conjunction with traditional banks and payment processors, they are required to follow AML and KYC guidelines. You may be requested to complete the KYC verification by submitting documents to confirm your identity. It’s only performed once and takes several minutes, and at most, an hour.  

Can I buy less than 1 LUNA?

Yes, you can buy less than 1 LUNA based on the amount of fiat money you have to spend. For instance, if the exchange rate is 1 LUNA = 159.69 USD, spending 50USD gives you about 0.31310333 LUNA. The amount of tokens you can buy is subject to the minimum transaction amount on the exchange or broker platform. Our payment partners mostly impose minimum limits of 30USD or 50USD.  

What are the fees to buy Terra (LUNA)?

Changelly gives you one simple rate inclusive of all the fees for the purchase. The fees comprise the platform’s commission rate. Fiat-to-crypto payment providers charge processing fees for purchases, which may vary with the digital asset and preferred payment method. Terra also requires gas fees to cover the cost of processing the transaction on the blockchain.

Can I sell Terra (LUNA) tokens for fiat currency?

It’s entirely possible to sell Terra (LUNA) for fiat currency, although not directly. That’s because few crypto platforms support direct conversions of the coin because it’s not that popular. Holders may first need to convert the coin to other cryptos such as ETH, BTC, or USDC.

Carry out the exchange on Changelly with low trading fees. Securely cashout on our Sell Page, powered by Mercuryo. Payments are sent to any preferred bank account or card.