Are you interested in Terra (LUNA) and thinking about investing? Good news – this guide is going to help you before you move forward. Discussed below are 4 essential things that you need to know before investing. Plus, if any of your friends or colleagues are planning on investing too, make sure to share the following information with them.
In the new era of crypto, there are lots of exciting and interesting cryptocurrencies to choose from. By now, you’ve probably heard of the likes of Bitcoin and Ethereum – but have you heard about Terra (LUNA)?
Terra is a blockchain. A blockchain is a platform that allows crypto transactions to happen between people and businesses. LUNA is the native token of Terra; the cryptocurrency used across the blockchain. The coin was launched back in 2018 in South Korea and has quickly started to gain traction in the industry.
So, before investing in Terra (LUNA), here are 4 essentials that you need to know:
1. Terra (LUNA)’s Price
Before making any form of investment, you need to know the price that Terra is trading at.
You can find this out through OKX straight away, by looking at OKX’s Terra price charts.
The value of a cryptocurrency is important because it highlights market performance as well as supply and demand levels.
For example, if a cryptocurrency has a very low market value, then this means it isn’t worth much and is a slight risk to invest in.
Terra (LUNA) is trading at $1.74 (at the time of writing). Any crypto that is above $1 is deemed a good value.
2. LUNA Is Used for Various Purposes
Here’s a quick look at what exactly LUNA is used for:
- A payment medium
- A protocol to decrease the volatility of stablecoins on Terra
- A currency used to take part in the running of the Terra blockchain. For example, by staking LUNA tokens that you own, you can vote on proposals that affect Terra in the short and long-term
Make sense? Great.
3. Terra (LUNA) Is Most Successful in South Korea
Unsurprisingly, Terra (LUNA) is most popular in South Korea with over 2 million different users.
This is good, as it provides US investors and traders with future incentives to invest. However, LUNA is still yet to fully take off in America, which is why it’s more of a long-term investment than a short-term one.
4. You Can Only Buy Tera (LUNA) from Select Exchanges
Buying Tera (LUNA) isn’t so easy compared to more popular cryptocurrencies like Bitcoin.
This is because (LUNA) is only available on a handful of select exchanges, including:
- Voyager
- Binance
- KuCoin
- eToro
So, if you make an account on one of these platforms, you will be able to purchase LUNA and store it either directly through the exchange or your crypto wallet. The choice is yours.
Summary
Whether you decide to invest in Terra (LUNA) now or soon, make sure to memorize and use the information discussed above. This will help you to make smart investments with solid knowledge of the Tera blockchain.
