How to buy Terra (LUNA)?
The top three brokers to buy Terra from are Binance, OKEx, and Bittrex. You can buy Tera with a debit card, bitcoin, or credit card on exchanges.
- Binance
The main reason to buy Terra on Binance is lower fees and less liquidity. In addition, thanks to the high level of liquidity, you can buy and sell as quickly as you need to make a profit.
2. OKEx
This exchange is great for transactions from Asia. The platform supports various currencies in Asia, such as the Chinese Yuan. In addition, OKEx is facilitating large-scale investment in Terra.
3. Bittrex
Bittrex is a one-stop-shop for all kinds of cryptocurrencies. They lead the way when it comes to providing multiple cryptocurrency options to investors like you. Bittrex does not charge for listing projects and they are trustworthy.
You can also buy Terra from our trusted brokers.
How to store Terra “LUNA”?
The best place to store Terra or store Terra is in a hardware wallet. If you want to invest heavily in LUNA or store a coin for many years in anticipation of a price increase, use the offline storage method.
A hardware wallet or cold storage is a way to store cryptocurrencies offline. The benefit of cold storage is that it protects your investment from cybercriminals. While hackers can break into other forms of crypto storage, they cannot access your offline wallet.
There are many types of hardware wallets to consider, such as Ledger Nano S, Trezor Model T, Coinkite ColdCard, Trezor One, Billfold Steel BTC Wallet, etc. Any of these wallets can protect your LUNA coins from hackers and cybercriminals.
What’s next for Terra?
Crypto experts predict that Terra will experience a colossal price spike in the coming years. Terra’s price projections for 2021 to 2030 look promising. So investing in Terra LUNA and holding it for years seems like a good investment.
It is noteworthy that no one can predict the ideal movement of any cryptocurrency. That is why there are still different terra luna price prediction.
However, Terra has brought a new set of concepts to the cryptocurrency market. Its self-regulating proposal mechanism encourages global adoption and support by crypto enthusiasts.
Although there is no single accurate forecast of its future prices, the value of Terra and its popularity are gradually increasing.
A number of analysts believe that the prerequisites were ripe much earlier than the May crisis, and the linking of UST to the company’s reserves is one of the signs of a crisis in the system.
The UST is an algorithmic stablecoin
UST is an algorithmic stablecoin, whose emission is initially associated only with the price of LUNA. This distinguishes it from centralized stablecoins (for example, Tether), where reserves in bank accounts are responsible for the stability of the exchange rate. Terra took the unusual step of adding a $3.5 billion cryptocurrency reserve to the algorithmic UST.
By selling Bitcoin, Terra was supposed to hold the UST rate when the value of LUNA fell. Either the volume of the reserve was simply not enough, or it was not used in full. Analytical agency Elliptic followed the path of the coins and found out that 28,000 BTC were sent to the Binance cryptocurrency exchange account, and 52,000 BTC to the Gemini account.
However, they failed to trace the further fate of the assets. Terra could use the funds to support the UST or transfer them to unidentified individuals. If the company has kept its reserve, this creates an opportunity to restart the project.
The head of Binance
On May 13, Do Kwon proposed a recovery plan with the formation of a new branch on the Terra blockchain and the distribution of 1 billion tokens between LUNA and UST holders based on a snapshot taken before UST lost its peg to the US dollar.
This option was criticized by the head of Binance, Changpeng Zhao, and the lead validator of Terra, Jiyun Kim. Zhao noted that “the fork will not create new value,” urging the company to buy back the coins to be burned later. And Kim, whose pool has been reduced from $1 billion to $3 million, even offers the community to unite to create a completely new blockchain.
Lack of agreement within the Terra team greatly reduces the chances of a network restart. In addition, a legal investigation may soon begin against Do Kwon, since some investors have already filed a complaint with law enforcement agencies.
