Buy Terra (LUNA) With Debit Card
How To Buy LUNA With Debit Card - The Complete Guide 2022
LUNA is one of those cryptocurrencies that has gained much attention in 2022. First, it rose from less than $10 to an all-time high of $116. Unfortunately, the coin lost over 90% of its value in May 2022.
This sporadic price action has attracted much attention from investors and critics. For some, LUNA is a PONZI. However, expert traders have noted that the use cases and functionality of cryptocurrencies are often revolutionary. LUNA is one of those coins.
LUNA and UST—-Terra blockchain stablecoins go hand-in-hand. UST has to stay pegged to the dollar to maintain the price of LUNA. Experts have advised that investors can jump into LUNA when it repegs the US dollar. Hence, many crypto investors are still looking to bottom fish LUNA.
If you are looking to buy LUNA, you can still do it. LUNA is currently listed in over 20 Global exchanges, where you can buy, hodl, and trade the token. A great way to start is to buy LUNA with a debit card. In this article, we’d show you how to buy LUNA with a Debit Card.
How Easy Is It To Buy LUNA With Debit Card
There are many simple ways to buy LUNA. One good way to start buying LUNA is with a debit card. Debit Cards are by far the less stressful payment methods.
Many platforms prefer users to make payments with cards over every other medium. And debit cards fare well against credit cards in terms of regulations and fees. Even if it has been noted that Debit cards are good for buying crypto tokens like LUNA, is it an easy process?
Yes! It is easy to buy LUNA with debit cards. Not only is a Debit card a fast payment method, but it also comes with less charges than Credit cards. To buy LUNA with a debit card, you only need to link your card to the desired crypto exchange.
Many a time, crypto exchanges allow users to link their cards once and be charged subsequently. That means that Debit Cards transactions are automated on the crypto exchange, aside from the first step. To connect your card, you’ll need to input your card details. Card details such as Card Number, CVV, and expiry date.
To avoid unsuccessful linking, it is best to use Mastercard or Visa Card. These cards are universal and are readily accepted on different crypto exchanges. After using these cards and the linking is futile, you have no choice but to check with your card provider. Your banking facility can reject the transaction if crypto transactions are not supported. Aside from these issues, buying LUNA with your debit card is easy.
Where To Store LUNA?
It is one thing to buy LUNA, and it is another to keep your tokens securely stored. When crypto tokens are not stored correctly, you risk losing them to online hacks. That said, there are many ways to store LUNA. Picking the perfect storage should not be difficult as it is solely dependent on your trading style.
There are three common types of crypto storage: hot wallet, paper wallet, and Hardware wallet.
The Hot wallet is a crypto wallet connected to the internet. This type of wallet is the wallet provided by your crypto exchange. A hot wallet is suitable for short-term traders who need to spend their LUNA tokens actively. It is best not to store crypto on an exchange, as it is exposed to more risk.
Alternatively, wallet apps allow you to store LUNA outside of an exchange. This wallet is considered safer than an exchange wallet. Your tokens are protected with mnemonic phrases.
Paper wallet: You can store LUNA on this type of wallet, as they are considered safer than an exchange wallet. This wallet is a printed piece of paper that contains keys and QR codes.
Hardware wallets: The hardware wallet is a hardware device used to store the private keys of a token. This kind of wallet is used for long-term traders. If you intend to hodl LUNA for an extended period, it is the best to use.
How To Buy LUNA With A Debit Card
Different crypto enthusiasts buy LUNA for various reasons. Whatever the reason may be, it is best to buy LUNA in a simple way. An easy way to start buying LUNA is with a debit card. Debit card transactions are safe, simple, and swift. In the following sections, I will walk you through the process of buying LUNA with a debit card.
First, you…
Choose a crypto exchange
The cradle step is to choose a good crypto exchange. An exchange makes it possible to buy or sell LUNA. It is also essential to select an exchange with all the features you need.
When choosing an exchange, there are essential things to look out for. Check for the accessibility, payment methods, amount of listed cryptocurrencies, transaction fees, etc.
Register and Verify your account
You have found a crypto platform that suits your needs. What next? You’ll need to register and verify your account. You’ll need your name, date of birth, nationality, and address to register an account.
After submitting those details, you’ll need to verify your legality. Many exchanges will require a National ID card, international passport, Utility bill, or a recent bank statement. With these documents, you are good to go.
Visit the Buy/Sell page
Many exchanges have a buy/sell page. Visit the page, and select LUNA from the list. Choose the desired amount of LUNA tokens you need to purchase. Then input your card details.
Top 3 Exchange Platforms To Purchase LUNA With Debit Card
Binance
On Binance, you can conveniently buy LUNA with your debit card. Buying crypto tokens on Binance is considerably cheaper. Debit cards are charged a 4.5% fee. Users can also enjoy an affordable 0.1% fee on spot trades and a 0.5% fee on instant trades.
On Binance, users can spot trade, future trades, and even stake tokens. Digital art collectors will also love the NFT marketplace. Amongst many other things, funds are safe and secure on Binance. Users’ cash is insured. They can also use a digital wallet to store their tokens.
Pros
- LUNA staking
- Affordable debit card fees
- Cheap trading fees
Cons
- Poor customer support
Gate.io
Gate.io works like Binance. It has a lot of features for profitable trades. You can buy/sell LUNA, stake it, or even lend your LUNA. There is also an NFT marketplace where you can trade digital collectibles.
On Gate.io, users can buy LUNA for as low as $10. You can also choose to trade LUNA on futures.
Pros
- Lots of listed tokens
- NFT marketplace
- Advanced features for expert traders
Cons
- Complex fees
Crypto.com
Crypto.com is a mobile app that allows users to buy their favorite cryptocurrency. Buying LUNA on Crypto.com is simple as there are no complicated features. On this platform users can purchase or sell LUNA—and other cryptocurrencies—against FIAT tokens.
As a plus, you can also enjoy cheap trading fees. You’ll be charged a 2.99% fee when you buy LUNA with a debit card.
Pros
- Low transaction fees
- 2.99% debit card fees
- $1 minimum trade amount
Cons
- No crypto-to-crypto pairs
Conclusion
Buying LUNA with a debit card is as easy as ABC. You need a crypto exchange and a debit card to start buying LUNA. This guide has broken down detailed steps to begin buying LUNA with a debit card.
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.
