Terra LUNA was one of the best-performing digital currencies in 2022 until the market crash of May saw more than 99% of its value wiped off. Before the market crash, Terra LUNA brought huge gains to investors in 2021.
This resulted in Terra LUNA becoming a large-cap digital asset (had more than $10 billion) as market capitalization. As of writing, the value of Terra LUNA has dropped significantly.
Some investors are hoping for Terra LUNA to recover some of its losses during the downturn of the market. After founder Do Kwon announced a revival plan over the weekend of May 13 to May 15.
This guide will give you extensive insight on how to buy Terra LUNA in the USA in a few minutes with top cryptocurrency exchanges.
In this section, we explore how to invest in Terra Luna, step-by-step:
Virtual currencies are highly volatile and subject to market risk. Your capital is at risk
If you want a more in-depth explanation of how to get started investing in Terra LUNA, carry on to the end of this article.
While not all exchanges currently offer Terra Luna, there are still many places where you can buy the LUNA coin.
eToro USA LLC; Investments are subject to market risk, including the possible loss of principal. "Virtual currencies are highly volatile. Your capital is at risk."
Virtual currencies are highly volatile and subject to market risk. Your capital is at risk
In this section, we explore how to invest in Terra Luna in the USA, step-by-step:
Step 1: Open an Account
To get started with Terra Luna, you'll first need first to open a crypto trading account with an exchange or brokerage that supports the coin.
To set up an online account, you'll need to provide your chosen exchange with personal information, such as your address, email, birthday.
Step 2: Deposit Funds
Once you're set up you can deposit funds into your account The payment methods supported by exchange include but are not limited to debit and credit cards, e-wallets or bank transfers.
Step 3: Buy Terra
Decide on how much money you want to invest in this crypto then place the Trade to complete the purchase of LUNA tokens. Within seconds, your order will be processed, and the coin will be added to your accounts.
Virtual currencies are highly volatile and Subject to market risk. Your capital is at risk
Despite all the ups and downs in the price history of LUNA, many market commentators believe that the coin's price could grow substantially in the future while others think the Terra project is basically dead and the coin is worthless. With that said, you should know that cryptocurrency investments come down to the risks and rewards.
Terra LUNA certainly has risk factors. In the second week of May, LUNA crashed to new high lows of around $0.0004000. In addition to this, Terra lost billions of dollars in total value locked (TVL), and in the process lost its position as the second blockchain with the most value locked after Ethereum. On the other hand, Terra LUNA could have some positives. As Co-founder Do Kwon has come up with a revival plan. This will see early UST and LUNA holders get 40% each of the redistributed total supply of 1 billion LUNA coins. New LUNA holders and the entire Terra Community will get 10% each.
Virtual currencies are highly volatile and Subject to market risk. Your capital is at risk
There are a wide variety of exchanges that offer the Terra coin, figuring out where to buy Terra Luna is relatively easy. Major US exchanges offer the coin to buy and trade.
Terra LUNA has plunged to new lows and this could present a buying opportunity. It is interesting to know that the Terra ecosystem is being revived with plans from co-founder Do Kwon. Once the redistribution of the LUNA coins hit full gear, LUNA could reclaim its position as a solid coin and large-cap digital asset. However, investors should understand that redistribution may never occur and the risk of losing money is greater.
The easiest way to buy LUNA in the United States is through a crypto exchange that accepts US users. Any of the above-listed exchanges is the best place to buy Terra LUNA cryptocurrency.
There are a lot of factors to consider when buying cryptocurrencies. Firstly, you should always compare current prices and fees to avoid overpaying. Secondly, terms and conditions for the use of different payment methods vary between different cryptocurrency exchanges. Thirdly, you want to make sure that your chosen crypto exchange has a good security track record. Last but not least, you want to make sure that the identity verification process of the crypto exchange is easy and smooth.
The IRS treats cryptocurrency assets like property. As a result, there is no VAT on the purchase of cryptos. However, any sales of crypto assets are subject to capital gains tax.
This content is for information and education purposes only and should not be taken as investment advice or a personal recommendation. Virtual currencies are highly volatile and subject to market risk. Your capital is at risk
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Disclaimer: Analytics Insight does not provide financial advice or guidance. Also note that the cryptocurrencies mentioned/listed on the website could potentially be scams, i.e. designed to induce you to invest financial resources that may be lost forever and not be recoverable once investments are made. You are responsible for conducting your own research (DYOR) before making any investments. Read more here.