Buy Terra (LUNA) With Bank Transfer
How To Buy Terra LUNA Bank Transfer- The Complete Guide 2022
Terra LUNA was one of the top 10 crypto tokens by market capitalization. However, in May 2022, the token experienced a mighty crash in price. The token price dropped from an all-time high of $119 to $0.000136.
The crazy price fall has raised speculations and controversies amongst crypto enthusiasts. On one end, you’ll find investors who believe Terra LUNA will rise after the bear cycle. On the other end, some people are of interest that it is all for Terra LUNA. If you are part of those that believe that Terra LUNA will reach a new high, then the best thing is to start buying Terra LUNA.
If you want to buy Terra LUNA, it is best to buy Terra LUNA with bank transfers. Bank transfer is an acceptable means of payment on many crypto exchanges. Not only are Bank transfers widely accepted, but it also attracts less charges. Some crypto exchanges charge as little as 0% fee. Cash transfers are generally cheaper than cards and other means of payment.
If you are considering buying Terra LUNA with bank transfers, this guide will walk you through the process.
Keep reading to find out!
How Easy Is It To Buy Terra LUNA with Bank Transfer
There are many ways to buy Terra LUNA. A simple and convenient way to buy Terra LUNA is with bank transfers. Making payments with bank transfers are simple, safe, and swift. Moreover, you may wonder, is it easy to buy Terra LUNA with a Bank transfer?
Yes. It is easy and convenient to buy Terra LUNA with bank transfers. From the account opening process to your first deposit, paying with bank transfer is seamless. On many crypto exchanges, you only need to link your bank account.
Interestingly, linking your bank account is also easy. In addition, it attracts little charge. No better thing than buying Terra LUNA without ridiculous fees.
If you successfully buy Terra LUNA, the next important thing is storage. How and where do you store Terra LUNA?
Where To Store Terra LUNA?
Not Storing your Terra LUNA tokens properly poses great risk. Before you even buy Terra LUNA, you must select a suitable storage medium. The recognized way to store Terra LUNA is with a crypto wallet.
Crypto wallets are like bank vaults. They store your tokens securely. Nonetheless, not all crypto wallets work the same way. Hence, you need to use the best wallets.
When selecting wallets, look for renowned and recognized wallets. Then, pick storage that matches your crypto goals. If you intend to buy Terra LUNA for day trades, it differs if you’re hodling for a long period. Usually, most short-term traders store tokens on an exchange wallet or hot wallet. Long term traders hodl crypto coins in cold wallets.
You may wonder, ‘what is the difference between a cold wallet and a hot wallet?’.
It’s simple.
Cold wallets: Wallets that store tokens without an internet connection. These wallets are hardware devices that hold encrypted codes of your tokens. This type of wallet is suitable for hodling tokens for a long period. Say you intend to hodl Terra LUNA for 2years, and a cold wallet is the best option.
Considering that this wallet is on the internet, it is more secure. There are less chances of online breaches. Hence, it is safer for long term investors.
It remains the best option for hodlers as they do not need regular access to their tokens. If you need to trade your tokens, an internet connection will be required. There are usually third-party wallets that aid in depositing and withdrawing your Terra LUNA tokens.
The alternative is—
Hot wallets: Hot wallets are the opposite of cold wallets. These kinds of wallets work with an internet connection. You’ll find these wallets on your crypto exchange. There are also mobile apps built mainly for crypto storage.
Hot wallets are the best for day and swing traders. With a hot wallet, you can easily access your tokens, make trades/swaps, and make a profit.
Bear in mind that internet connectivity makes this wallet easily susceptible to cyber attacks and hacks.
How To Buy Terra LUNA With Bank Transfer
Choose a crypto exchange
Finding a good crypto exchange is the best place to start. Check for an exchange that accepts different payment methods.
Register and Verify your account
You’ll need to create an account on a crypto exchange before buying Terra LUNA. When creating an account, your personal details will be required.
Many exchanges also mandate data verification. This step is essential to unlocking the full features of an exchange. To verify your account, you’ll need a Government ID and utility bill.
Visit the Buy/Sell page
On many crypto exchanges, there is a buy/sell page. Visit the page, select your desired amount of tokens, then make a purchase. When selecting a payment method, pick bank transfers.
Top 3 Exchange Platforms To Purchase Terra LUNA With Bank Transfer
Binance
Binance is a renowned crypto exchange. On Binance, you can trade crypto conveniently. The platform allows users to spot trade, trade futures, stake, and borrow crypto currencies. There is also an NFT marketplace where collectors and creators can trade digital tokens.
Buying Terra LUNA with bank transfers is seamless with Binance. Users only need to link their bank account details.
Binance has three options for Bank transfers. Domestic Bank transfer, SEPA and Swift Transfers. SEPA transfers are best for European users.
Domestic transfers and SEPA transfers are usually processed within a day. In contrast, SWIFT transfers can be completed in 1 to 3 working days. Keep in mind that the processing time also depends on your local bank.
Usually, Bank transfers attract zero charges on Binance. However, local banks may charge up to 4% on the total amount.
Step 1; Buy USDT first.
Step 2:Trade USDT to Luna
Pros
- Terra LUNA staking
- Cheap trading fees
- Seamless bank transfers
- Three bank transfer options
Cons
- Poor customer support
Kucoin
Kucoin is one top crypto exchange that users can trade Terra LUNA. Kucoin ranks second on the list of platforms trading Terra LUNA based on market volume.
The platform works like Binance. Users can trade crypto-to-crypto pairs, swap tokens, and even trade futures.
Kucoin allows seamless bank transfers with Advcash, TED, and PIX. Advcash and PIX transactions are processed instantly, while TED transactions may take 1-3 working days. Bank transfers are usually free on KuCoin.
Step 1; Buy USDT first.
Step 2:Trade USDT to Luna
Pros
- Anonymous trading
- Advanced features for expert traders
- Instant deposit
- Zero fees
Cons
- Low trading volume
Crypto.com
Crypto.com is a mobile app for crypto traders. On crypto.com, users can buy Terra LUNA with bank transfers. To pay with bank transfers, you need to link a bank account.
Crypto.com has different payment processors for different countries. No matter where users are, they can conveniently buy Terra LUNA with bank transfers.
Users in Brazil can pay with Bank transfer via TED/DOC/PIX setup. Users can make a bank transfer via NPP, BPAY, SEPA, ACH, wire transfers, FAST, etc. Users can pick a payment processor depending on their country.
Bank transfers on crypto.com attract zero fees. However, your local bank may have fees.
Pros
- Low transaction fees
- Zero fees on bank transfers
- $1 minimum trade amount
Cons
- No crypto-to-crypto pairs
Conclusion
BWCEvent aspires to share balanced and credible details on cryptocurrency, finance, trading, and stocks. Yet, we refrain from giving financial suggestions, urging users to engage in personal research and meticulous verification.
