Are you interested in buying Luna? This cryptocurrency has gained a negative reputation because of the Terra ecosystem crash and thus, investors are very careful with it. However, it may be considered for short-time investment or trading.
LetsExchange.io supports this asset. So, you can buy it here without KYC and mandatory registration.
What Is Luna?
Luna was known as a token of the Terra ecosystem. This token was supposed to maintain the peg of UST but the token was depegged, and the entire ecosystem collapsed. After a while, Terra was rebranded to Terra Classic, and Luna is now traded on many exchanges.
How to Buy Luna
The best option to buy Luna is to use LetsExchange. Here is how you can do it easily, without KYC and registration.
We will use Bitcoin (BTC) to buy Luna in this example.
In the You Send field, pick the cryptocurrency you will exchange for Luna (BTC in our example). Then, provide the amount of BTC that you want to swap.
Next, in the You Get field, select Luna. In this case, Luna has its native blockchain and also is supported by the Ethereum blockchain. So, make sure you are picking the right network.
The exchange widget automatically calculates the amount of Luna you will get, it will be seen in the You Get field.
Now, provide the receiving wallet If you have a promo code, add it in its respective field.
Further, provide the address of the receiving wallet (to where the Luna coins will be sent). You can also add a refund address to where ETH will be sent in case the transaction is not completed.
Note please that in the case of Luna, you have to provide a MEMO. Without this information, your coins will be lost.
After providing the requested wallet addresses, click on the Apply button to complete your swap.
The widget will display a deposit wallet address where you must send the payment (the ETH funds in this case). As soon as you do it, the swap will be processed, and the purchased Luna will be sent to your wallet as soon as the transaction is confirmed on the blockchain.
Conclusion
Buying Luna for the long term may not be the wisest option considering the ecosystem collapse in the past. However, buying it with the aim to benefit from short-time price fluctuations can be reasonable.
FAQs
Is Luna a good investment?
Luna is not a good investment in the long term. Once, the ecosystem was among the most promising ones but after its collapse, the trust in it is lost.
How high can Luna go?
At the moment, Luna most likely won’t go high, at least until the team offers something to compensate its followers for the lost funds and offer something so innovative that the trust and interest are regained.