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How to buy Terra Luna Classic (LUNC) in South Africa
Learn how to buy Terra Luna Classic (LUNC) on 3+ crypto exchanges in our step-by-step guide.
You can buy Terra Luna Classic (LUNC) on a cryptocurrency exchange like Binance. These specialised marketplaces allow you to buy and sell cryptocurrencies, and work similar to stock trading platforms. Terra Luna Classic (LUNC) is the native asset of the original Terra (LUNA) blockchain. Here's how to buy Terra Luna Classic.
How to buy Terra Luna Classic in 4 easy steps
The whole process can take as little as 15 minutes and all you'll need is a smartphone or computer, an internet connection, photo identification and a means of payment.
- Compare crypto exchangesThe easiest way to buy Terra Luna Classic is from a cryptocurrency exchange. Comparing in the table below lets you find one with the features you want such as low fees, ease of use or 24-hour customer support.
- Create an account To create an account on an exchange, you will need to verify your email address and identity. Have some photo ID and your phone ready.
- Make a depositOnce verified, you can deposit R using the payment method that best suits you – cryptocurrency, PayPal, wire transfer and credit or debit card payments are widely accepted.
- Buy Terra Luna Classic You can now exchange your funds for Terra Luna Classic. On easier-to-use exchanges, this is as simple as entering the amount you want to purchase and clicking buy. If you like, you can now withdraw your Terra Luna Classic to your personal wallet.
Where to buy Terra Luna Classic in South Africa
Find an exchange to buy, sell and trade LUNC by comparing deposit methods, supported fiat currencies and fees. Select Go to site to sign up directly with the provider.
How do I find the best places to buy Terra Luna Classic?
Cryptocurrency exchanges offer similar services, but differ in a few key ways – mainly fees, the range of cryptos available and payment methods. You can use our table to compare the features of popular cryptocurrency exchanges available in South Africa to help you choose the one that's right for you.
Some other factors you may want to consider are customer support, user reviews, ease of use and whether or not the exchange is registered with a local regulator. This information can be found by clicking on the exchange name in the table which will take you to its review page.
What will I need to buy Terra Luna Classic?
To create an account on any cryptocurrency exchange you will need an email address. Some exchanges may also ask for a phone number and photo ID, so it's a good idea to have those ready.
An increasing number of cryptocurrency exchanges will ask to verify your identity before you can deposit funds and start trading Terra Luna Classic.
- This process is known as Know Your Customer (KYC) and usually requires photo ID and a webcam or smartphone. You may also need to prove your address by uploading a copy of a recent bank statement or utility bill.
- Some exchanges allow you to deposit and trade cryptocurrencies without passing KYC, but they will not allow you to transfer local currency from your bank account. So if you are planning on purchasing LUNC with your local currency then you will need to pass KYC.
- Once you have verified your identity, it is a good idea to enable 2-factor authentication (2FA) before depositing any funds. This will increase the security of your account and help keep your funds safe.
Where can I buy Terra Luna Classic with a credit or debit card?
Once you've created an account, you will need to deposit funds to buy LUNC with. You can either deposit local currency from a bank account or credit card, or transfer cryptocurrency from another exchange or wallet. Here are popular deposit methods to buy LUNC on the following exchanges:
- Bank account: Transfers from local bank accounts are usually free, but you will need to double-check this with the exchange you choose – this information can be found in our table by clicking on 'view details'.
- Credit or debit card: Linking a card to your account is another convenient way to top up your account, but be aware that it usually attracts an additional fee. An advantage, though, is that you can use a card to make instant purchases or set up a recurring purchase.
- Cryptocurrency: You can usually purchase LUNC by trading it for another cryptocurrency like Bitcoin or a stablecoin. This varies between exchanges though, so you will need to search for LUNC on the spot market to see what cryptocurrencies it can be traded for.
What is the easiest way to buy Terra Luna Classic?
The easiest way to buy LUNC is by placing an 'instant buy' order to purchase it for a fixed price but not all crypto exchanges offer this feature.
Alternatively, you can open a trade on the spot market which allows you to set your own price – this is the most common way to purchase cryptocurrency. Using the instant buy feature is straightforward but typically more expensive than using the spot market.
Before buying LUNC, you may want to check the market conditions. To help you decide if now is the right time to buy, you can take a look at our Analysis tools to get an idea of how the price of Terra Luna Classic has been performing recently.
Best Terra Luna Classic wallets to store your LUNC
You can keep your LUNC on the exchange you purchased it on, or move it to a personal wallet:
- Some people like to use their own wallets to guarantee total ownership over their assets, or to use them with other applications like DeFi services.
- Hardware wallets are typically considered to be the safest type of cryptocurrency wallet, as they use a physical device to enhance security in a number of ways. You can learn more about wallets and compare them with our comprehensive guide.
Recent Terra Luna Classic developments
May 27, 2022: Terra backers confirmed plans to launch the new LUNA blockchain and token Saturday, May 28, with tokens going out by airdrop to the owners of the collapsed LUNA and UST coins. Full story
May 26, 2022: Terra backers said the community voted to launch a new version of the Terra (LUNA) coin, and the plan will move ahead with existing tokens renamed Terra Classic (LUNC).
May 13, 2022: The price of Luna dropped to a fraction of a penny. Due to halts by some brokerages and the blockchain it may be difficult to trade at this writing.
May 12, 2022: The price of Luna continued to fall in the past 24 hours amid problems with its sister stablecoin UST, reaching just pennies.
May 11, 2022: The price of Luna fell below 84 cents briefly in the past 24 hours before leveling off above $1.10, down more than 90% as its sister stablecoin UST struggled to regain its $1 price peg.
Is Terra Luna Classic a good investment?Key considerations to weigh before you add LUNC to your portfolio:
- Just because LUNC recently lost over 99% of its value doesn’t mean that it can’t lose more. LUNC still has a market cap of almost US$800 million as of 3 June 2022. Though its price is much lower than it once was, it still has a lot of room to fall further.
- LUNC no longer serves the purpose of being burned to mint UST that it once did since UST has lost its peg to the US dollar.
- The portion of the Terra community that still supports LUNC – those who voted against the hard fork that created LUNA 2.0 – have not developed a roadmap for what they plan to do with the Terra Luna Classic (LUNC) chain.
- LUNC’s value remains largely driven by speculators.
- LUNC is not yet available for trading on many major exchanges.
- Like the old Terra (LUNA) blockchain, Terra Luna Classic (LUNC) is a Designated Proof of Stake protocol. You can still stake LUNC, but many of the staking validators for the old chain have gone offline. If you plan to continue staking your LUNC, check to make sure that you’re staking with an active validator.
Additional information about Terra Luna Classic can be found using our LUNC analysis tools.
Today's Terra Luna Classic price versus ATH
Compare today's price of Terra Luna Classic ($0.00009697 USD) against its all-time-high price of $119.18 USD on 05 April 2022. The closer the bar is to 100%, the closer LUNC is to reaching its ATH again.
ATH date: April 05, 2022
Terra Luna Classic ATH: $119.18
How to trade, convert or sell Terra Luna ClassicYou can convert or sell your LUNC with the same exchange you bought it through:
- Sign in to the exchange you have LUNC on.
- If you store your Terra Luna Classic in a digital wallet, compare crypto exchanges to convert or sell it on.
- Choose Sell or Convert and place a sell order.
- Choose the amount of LUNC you'd like to convert or sell.
- Confirm the sell price and fees and close your sale of Terra Luna Classic.
- Complete your transaction and move your LUNC to a wallet for storage.
Disclaimer: Cryptocurrencies, including Terra Luna Classic, are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance of LUNC is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the Terra Luna Classic or any other cryptocurrency discussed.
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