Could Terra be the next big crypto platform like Bitcoin? This is a dual crypto platform that uses LUNA coins on their cosmos blockchain while Terra USD is used on the ETH blockchain. Investing in LUNA coins can give you high returns whether you trade or get into yield farming. The value of LUNA cryptocurrency at the time of publication is $37.82.
The coin has just crossed the value line it struggled to achieve in the past. This is an indication of growth that has enticed many people. But first, it is important to know how to trade, especially buying the coin.
How to Buy LUNA Cryptocurrency
Open an account with a platform that supports Terra LUNA operations. The Loop finance platform is a good example and signing up with them is easy. The platforms ask for various verification information, especially an ID, DOB, and address.
Getting a crypto wallet to store LUNA cryptocurrency is the next step. It is not advisable to store your digital asset on the platform account to avoid hacking. Fortunately, there are many secure wallet hosts that you can trust.
The last step is to buy LUNA cryptocurrency. Use the conversion calculator or the live price chart to find the current rate. Each platform has its terms of buying and fees, so it is better to check before the purchase. Do not forget to transfer your coins to the secure digital wallet as soon as they are credited to your platform account.
Various Investment Options for LUNA Cryptocurrency
According to the Loop website, investors have a variety of investment options availed by the Terra platform. First, Terra is a decentralized platform for DeFi projects. Investors get to choose what will give them money. Here are the best investments to try:
- Trading – Whether you are using Loop or any other platform, there is always an option to buy and sell LUNA cryptocurrency. Loop, for instance, uses DEX, a tokenized community platform for investors to trade. As soon as you buy the tokens, you can then wait to sell when the value increases.
- Yield farming – This is becoming a popular method to earn passive income. It is a strategy of creating a liquidity pool for Terra projects where the investors earn interest for the coins they lock in. You can lock as much as you want to earn because the platforms are flexible. But first, check the APY interest on your preferred platform.
- Become a validator – LUNA cryptocurrency validators are a crucial part of Terra’s consensus engine. They determine the authentication of transactions and merge them into a block, during staking or trading. This is a mining process and those involved must solve various problems. In return, they are paid for keeping the ecosystem safe and running and they are allowed to stake their earned tokens to earn more as well.
LUNA cryptocurrency has numerous opportunities for investors and those who are interested. If you are new in this environment, the above insights will help you make the right decision. Nonetheless, there is still a lot to learn to become a pro.