[Instructions] where to Buy Terra (LUNA)?

Terra (LUNA) is clearly one of the current winners and at the same time most sought-after cryptocurrencies on the market. Therefore, you have certainly already asked yourself where and how you can safely invest in LUNA. In this article, we want to give you instructions on how to buy Terra Coins.

Where Can You Buy Terra (LUNA)?

In the following, we have compiled an overview for you that shows you which providers you can buy Terra from.

All three providers are ideal for investing in LUNA. Of course, each trading platform has its own advantages and disadvantages. But regardless of whether you want to buy Terra from Austria, Switzerland or Germany, you can use Bitpanda, Bitvavo or Binance.

How Has the LUNA Price Developed so Far?

If you have a financial interest in buying Terra (LUNA), it is also important to look at the previous Terra price. As you can easily see, Terra has made incredible progress, especially since 2021.

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However, please note that the price development of earlier days is no indication that the price will continue to rise in the future. For this, it is necessary to take a closer look at the market and the cryptocurrency itself.

What Do I Have to Pay Attention to when Buying Terra?

There are countless providers who supposedly want to make it very easy for you to buy Terra Coins. Often, after registering, you realize that it takes a little more know-how to ultimately successfully buy LUNA tokens. The following points must be observed:

• Am I buying real Terra coins or just CFDs?
• How do I store my LUNA tokens?
• What fees do I pay for buying Terra?
• Is the trading platform where I can buy Terra safe and reputable?

We could certainly continue the list like this. However, you can see that you have to ask yourself a few questions before you ultimately invest in LUNA. The most important thing to clarify before investing in LUNA is the choice of trading platform. There are always platforms that promise you low fees and high chances of winning. As a rule, these are exactly the platforms that you should stay away from if you want to buy Terra Coins safely. Therefore, we have deliberately only compiled providers that we ourselves are convinced of.

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Terra Luna CFDs vs. Real Terra Luna Tokens

Crypto investors repeatedly come across the term CFDs when it comes to investing in cryptocurrencies such as Terra. In this section, we want to clarify the difference between real LUNA tokens and Terra LUNA CFDs.

Buy Real Luna Tokens

If you want to buy the cryptocurrency LUNA in order to actively use and transfer it, buying real LUNA tokens is the necessary option for you. This means that you receive the cryptocurrency LUNA in virtual form and can transfer it to various wallets or use it as a means of payment. Buying real LUNA tokens is probably exactly what you originally imagined when you first thought about investing in Terra. If you are now wondering whether there are also fake LUNA tokens, we can reassure you in advance. You don’t have to worry about that. We only use the term “real cryptocurrencies” in this case to clearly distinguish them from CFDs.

What should you consider with real Terra coins?

The custody of the coins is particularly important in this case. If you buy your real LUNA tokens on an exchange, you often have the option of storing them directly on the exchange. However, this is not a good idea. Because in the event of a hack, your coins could be stolen. The crypto exchange is generally not liable in such cases.

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Buy Terra CFDs

If you trade with crypto CFDs, you are not buying any cryptocurrency. By buying Terra LUNA CFDs, you are only speculating on a rising price of the digital currency. This means that you can participate in the performance just as much as if you invest in real LUNA CFDs. However, you do not own LUNA tokens and therefore cannot transfer your Terra Coins to another wallet. You can also not use the cryptocurrency to make payments in online shops that accept Terra (LUNA).

A special feature of trading with Terra CFDs is that you can also profit from a falling price of Terra LUNA. You can open short positions for Terra CFDs and speculate on a falling price. But remember that trading is risky and can lead to capital losses.

Unfortunately, none of the providers we have tested currently offer the option of trading with Terra LUNA CFDs. Should this change, we will of course adjust this accordingly.

Buy Terra (LUNA) from a Crypto Broker

The easiest way to buy Terra (LUNA) is with a crypto broker. A crypto broker enables you to buy and sell your LUNA tokens without having to have any special knowledge of order types or the custody of cryptocurrencies. Buying cryptocurrencies like Terra is usually possible with a single click at a broker, making it the ideal way for beginners to invest in LUNA.

What are the Advantages of a Crypto Broker?

What makes a broker interesting for buying Terra (LUNA)? First and foremost, it is the modern user interface and the associated ease of use for the user. Even laypeople can easily buy Terra (LUNA) via a crypto broker such as Bitpanda. While most brokers rely on crypto CFDs for the sake of simplicity, you can buy real LUNA tokens from Bitpanda with numerous payment options such as credit card or instant transfer.

If you buy Terra via Bitpanda, your trading partner is always Bitpanda itself. This makes using a broker so much easier than using a crypto exchange, where you trade with other users of the platform and therefore need a little more know-how about order types and Co.

Another special feature of brokers is that they are mostly regulated in German-speaking countries. This means that when you trade with most online brokers, you are secured by deposit insurance and you can be sure that the platform is legal to buy cryptocurrencies such as Terra.

Furthermore, the best crypto brokers like Bitpanda not only allow you to buy Terra (LUNA), but also have numerous other cryptocurrencies as well as stocks, ETFs, commodities and currencies on offer. This allows you to control your entire portfolio via just one trading platform.

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What are the Disadvantages of a Crypto Broker?

The disadvantages of a crypto broker naturally also depend on which broker it is. Of course, it can be seen as a disadvantage if brokers only release Terra CFDs for trading. However, examples like Bitpanda show that you can also buy real Terra Coins with a crypto broker.

The biggest disadvantage of a crypto broker is usually the slightly higher trading fees for buying cryptocurrencies and the fact that advanced users in particular have fewer functions available.

Nevertheless, crypto brokers are ideally suited for beginners if they do not want to deal with the complex custody of Terra Coins and want to participate in the performance of LUNA quickly and easily.

Buy Terra (LUNA) from a Crypto Exchange

The other option for investing in Terra (LUNA) is to use a crypto exchange. Ultimately, this is an intermediary between two users who want to trade the Terra Luna coin with each other. Here, too, registration and verification take only a few minutes. In contrast to online brokers such as Naga, crypto exchanges such as Binance have been specially created for trading real cryptocurrencies. Many exchanges such as Coinbase or Kraken have done real pioneering work in terms of crypto adoption. But what makes a crypto exchange interesting for users?

What are the Advantages of a Crypto Exchange?

The advantages of crypto exchanges include the large selection of cryptocurrencies. While most brokers offer well under 100 cryptocurrencies, you can buy over 200 other cryptocurrencies in addition to Terra (LUNA) on Binance. You have enough options to place your order and can trade directly between the cryptocurrencies. While you usually buy Terra (LUNA) with euros, Swiss francs or US dollars from a broker, you can trade Terra (LUNA) with various currency pairs such as BTC/LUNA or ETH/LUNA on Binance. This makes a crypto exchange very flexible if you want to exchange within cryptocurrencies. In Austria, this would also not be a tax process if you convert your Terra Coins into another cryptocurrency.

What are the Disadvantages of a Crypto Exchange?

One of the weaknesses of crypto exchanges is, among other things, the fact that it is difficult for laypeople in particular to find their way around the respective platform. In our opinion, an exception in this case is Bitvavo, as the Dutch platform offers its services in the layout of a broker in addition to the normal exchange, so that it is also easy for beginners to invest in Terra (LUNA).

Regardless, we see the big problem with most crypto exchanges in the fact that they do not yet have a license in German-speaking countries. Although this does not make trading cryptocurrencies illegal for the user, it does ensure that there is no security, as is the case with a deposit with your house bank, for example.

Very important: It is particularly important when buying Terra Coins on a crypto exchange that you take care of the custody of your cryptocurrencies. Since, as described above, there is no regulation in German-speaking countries in most cases, your deposits are not secured.

Buy LUNA Tokens with PayPal

A popular method for buying cryptocurrencies is PayPal. Unfortunately, the payment service provider PayPal does not yet offer any options in German-speaking countries to directly buy cryptocurrencies such as Terra (LUNA). However, there are some providers such as Bitvavo where you can deposit via PayPal.

Unfortunately, there is currently no trading platform that has been tested by us and allows deposits via PayPal. Here, too, we will keep you up to date as soon as the opportunity arises to buy Terra LUNA with PayPal.

Invest in Terra via Credit Card

A real alternative to start trading Terra (LUNA) immediately is to buy LUNA by credit card. For this, it is first necessary to search for the right trading platform. In contrast to PayPal, the credit card is offered by almost all exchanges and brokers.

The three platforms we have presented, Bitpanda, Binance and Bitvavo, all allow you to buy Terra (LUNA) by credit card. The fees for depositing by credit card when buying Terra are as follows:

• Bitpanda: 1.79 percent
• Binance: 0.00 percent
• Bitvavo: 0.00 percent

Note, however, that despite the deposit fee, Bitpanda gives you the opportunity to invest in numerous other asset classes such as stocks or ETFs, so that you can certainly better diversify your investment in Terra.

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Conclusion: where is the Best Place to Buy Terra (LUNA)?

In our opinion, Bitpanda is currently the best place in German-speaking countries to invest in the cryptocurrency Terra (LUNA). This is due on the one hand to the modern user interface, an easy-to-use app and the fact that Bitpanda harmoniously combines the characteristics of an online broker and a crypto exchange (real cryptocurrencies). In addition, you are on the safer side from a regulatory point of view, as it is a trading platform based in Vienna that has been convincing since 2014.

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