5 Reasons to Buy Terra in India
– It works on the Proof-of-Work consensus Algorithm.
– LUNA provides governance rights to the users and is also a vital part of staking.
– LUNA is the native cryptocurrency of the Terra ecosystem.
– It has a market capitalization of more than $13 billion.
– It has a maximum supply of around 996 million LUNA coins.
What is Terra?
Terra was launched in 2018 and is able to raise $150 million from high-end investors, while LUNA dropped on the exchanges in 2019.
Terra is a stablecoin that helps in eliminating the volatility around cryptocurrencies, just like Ethereum and Bitcoin. Unlike popular stablecoins such as USDT that are backed up by the cash reserves, UST maintains stability by burning LUNA tokens and a percentage of another digital token.
3 Things to know while Investing in Terra (luna)
– It helps in providing stability to the Terra stable coin by burning.
– LUNA could possibly see a price influx as the tokens are burned from time to time.
– Users that hold Luna earn transaction fees when people use the Terra stable coin.
Terra could be bought directly through Peer to Peer (P2P) trade. There is also an option for
buying cryptocurrency from decentralized exchanges or from someone who holds LUNA coins.
However, decentralized exchanges are complex to understand with such difficult functionalities,
and it would be a worrisome task to find a trustworthy seller who can provide you the desired
cryptocurrency. The reason why this is only chosen by pro traders.
If you are new to cryptocurrency, you might want to take the simplified route and Download
You can buy Terra in just 4 steps on CoinSwitch Kuber:
- Open CoinSwitch Kuber, click on the Market tab from the bottom navigation and select Terra.
- Click on the ‘Buy’ button.
- Enter the amount that you would like to buy Terra for, say ₹100, and click on the ‘Preview Buy button
- Check all the details of your order and proceed by clicking ‘Buy.’
Congratulations, you just bought your first Terra!
There is no right price to buy a cryptocurrency as with the developments, the price changes
frequently. The cryptocurrency can be more valuable as time passes which will result in higher
prices, and there would only be regret left for not buying it at the earlier price.
Instead, you can invest small amounts periodically and balance the opportunity and risk. Start
investing in Terra for as low as ₹100
There is no best time to start building your assets. The investments grow over a period of time. If
you are waiting for the golden moment to come when you will buy Terra; you are already
losing out on the returns you could have gained until then.
Take it a start but invest in small amounts periodically. A correct approach would be to
invest a lump sum in Terra (LUNA) in dips and average your portfolio for better returns.
Tether is listed on a majority of apps, but the only difference is the experience and functionality.
Just as leading E-commerce websites allow purchases within seconds, whereas some websites take a lot of time to even load.
The cryptocurrencies apps that are available in the market are complex to use and can make your
buying experience horrible; however, CoinSwitch Kuber provides complete peace of mind by
allowing you to buy cryptocurrencies with ease.