The live Terra price today is just under $82 with a 24-hour trading volume of $3.6 billion. Luna, the native token of Terra, is up 10% in the last 24 hours. This guide explains what Luna is, whether you should buy Luna, and the best places to do so.   

Top places to buy Luna now

As LUNA is such a new asset, it’s yet to be listed on major exchanges. You can still purchase LUNA using a DEX (decentralised exchange) though, which just means there are a few extra steps. To buy LUNA right now, follow these steps:

1. Buy ETH on a regulated exchange or broker, like eToro ›

We suggest eToro because it’s one of the world’s leading multi-asset trading platforms, an exchange and wallet all-in-one with some of the lowest fees in the industry. It’s also beginner-friendly, and has more payment methods available to users than any other available service.

2. Send your ETH to a compatible wallet like Trust Wallet or MetaMask

You’ll need to create your wallet, grab your address, and send your coins there.

3. Connect your wallet to the Uniswap DEX

Head to Uniswap, and ‘connect’ your wallet to it.

4. You can now swap your ETH for LUNA

Now that you’re connected, you’ll be able to swap for 100s of coins including LUNA.

What is Luna?

Luna is the token of Terra, a blockchain protocol that uses fiat-pegged stablecoins to power price-stable global payments systems. According to its white paper, Terra combines the price stability and wide adoption of fiat currencies with the censorship-resistance of Bitcoin (BTC) and offers fast and affordable settlements.

Development on Terra began in January 2018, and its mainnet officially launched in April 2019. As of September 2021, it offers stablecoins pegged to the U.S. dollar, South Korean won, Mongolian tugrik and the International Monetary Fund’s Special Drawing Rights basket of currencies — and it intends to roll out additional options.

Luna is used to stabilize the price of the protocol’s stablecoins. LUNA holders are also able to submit and vote on governance proposals, giving it the functionality of a governance token.

Should I buy Luna today?

Luna can be a good investment if you’re making an informed decision. Read price analyses and predictions before making a commitment that will affect your finances.    

Luna price prediction

Wallet Investor predicts the LUNA price can go up to $167 in one year. The potential profit is 106 in one year. In five years, LUNA will be worth $532.

Luna on social media

This post was originally published on Coinjournal.