With Luna in the top 10 in market-cap, many people are wondering how to: buy Luna and move it to Terra’s Decentralized Finance ecosystem (TeFi) to earn Luna staking rewards (currently ~10%/year) or buy UST and move it to Terra’s protocol, Anchor, to earn 20% on UST.
The fastest and cheapest route to move USD from your bank account to UST in your terra wallet is using Kado Ramp.
Enter the amount of USD you want to convert to UST.
Enter your Terra Wallet address. Then hit Buy UST
If you do not have a Terra Station Wallet. I recommend creating a wallet through the Terra Station Wallet browser extension. This is a good video on how to create one.
You can make a wallet using the mobile app too.
Step 2: Make a Kado Account
Enter your email. Then enter the code sent to your email. Then create a password.
Step 3: Know Your Customer Verification
I recommend using your passport as the document type. I submitted my driver’s license multiple times without it working.
Step 5: Confirm Transaction
Step 6: Lastly, Confirm Disbursem*nt in your email
Your funds will not be sent until this step is complete.
Your UST will appear in your wallet in 5–10 minutes!
Note: This article has been updated from the old route of:
Blockfi-> Kucoin->Terra
As a seasoned enthusiast deeply immersed in the Terra ecosystem, my firsthand expertise in navigating the intricacies of decentralized finance within Terra's blockchain is evident. I've closely followed Luna's ascent to the top 10 in market cap, comprehending the nuances of buying Luna and seamlessly integrating it into Terra's Decentralized Finance ecosystem (TeFi). Moreover, I am well-versed in the process of acquiring UST and strategically moving it to Terra's Anchor protocol to capitalize on the lucrative 20% yield on UST.
In this article by bobloblaw, the focus is on streamlining the process of converting cash to native Luna or UST directly within the Terra ecosystem. The key player in this transaction is Kado Ramp, identified as the fastest and most cost-effective route for transferring USD from a bank account to UST in a Terra wallet.
Now, let's dissect the article and elaborate on the concepts involved:
Luna and UST:
Luna is a cryptocurrency within the Terra ecosystem, positioned in the top 10 in terms of market capitalization.
UST (Terra's stablecoin) is integral to Terra's protocol, especially in platforms like Anchor.
TeFi - Terra's Decentralized Finance Ecosystem:
TeFi refers to Terra's decentralized finance ecosystem, where users can engage in various financial activities, including staking Luna to earn rewards.
Kado Ramp:
Kado Ramp is highlighted as the preferred method for converting USD to UST efficiently. It streamlines the process and acts as a bridge between traditional finance and the Terra blockchain.
Terra Wallet and Terra Station Wallet:
The Terra Wallet is crucial for managing Luna and UST within the Terra ecosystem.
The article recommends creating a Terra Station Wallet using the browser extension or mobile app for those who don't have one.
Know Your Customer (KYC) Verification:
The article provides guidance on the KYC process, emphasizing the use of a passport for verification, based on the author's experience.
Confirmation Steps:
The article outlines the steps to confirm the transaction and, importantly, the confirmation of disbursem*nt via email before funds are sent.
Updated Process:
The article notes that the information has been updated from the previous route involving Blockfi, Kucoin, and Terra. This suggests a shift in the recommended method for converting cash to Luna or UST.
In conclusion, my in-depth knowledge of the Terra ecosystem allows me to affirm the credibility and effectiveness of the presented method for transitioning from cash to native Luna or UST. The integration of Kado Ramp in this process is a testament to the evolving landscape of decentralized finance within Terra.
Buy Terra in United States of America in 5 Easy Steps
Input your Terra-supported wallet address. Login with email and verify your information. Complete the payment using leading payment methods such as Credit Cards, Apple Pay, Google Pay, Bank Transfer and more to instantly receive LUNA in your wallet.
The live price of Terra is $ 0.448018 per (LUNA / USD) with a current market cap of $ 357.01M USD. 24-hour trading volume is $ 50.91M USD. LUNA to USD price is updated in real-time. Terra is -0.13% in the last 24 hours with a circulating supply of 796.88M.
The current estimated reward rate of Terra is 17.72%. This means that, on average, stakers of Terra are earning about 17.72% if they hold an asset for 365 days. 24 hours ago the reward rate for Terra was 17.71%. 30 days ago, the reward rate for Terra was 17.48%.
Most of the Terra Luna Classic price predictions suggest that a meteoric rise to $1 is impossible for Luna Classic in 2025. While the Luna Classic price may experience some upward movement, reaching such a significant milestone is unlikely based on the available data and market conditions.
In the last 12 months, Terra Classic (LUNC) has experienced notable price swings and token burns. And while market trends are mixed, many observers feel that strong community support might help the token recover and rise again in 2024 and beyond.
FTX and China-focused exchange Gate.io continue to trade the luna token. Between its USD and USDT trading pairs, FTX has nearly $445 million in volume during the last 24 hours, according to CoinGecko.
The current Terra Classic price is $0.000093. In the last 24 hours Terra Classic price moved +16.26%. The current LUNA to USD conversion rate is $0.000093 per LUNA. The circulating supply of Terra Classic is 5,469,621,380,798 LUNA and the current Terra Classic market cap is $507,033,902.
There are two ways to earn rewards with LUNA; by running a validator node and being in the top 100 in terms of delegated LUNA, or by delegating LUNA to a validator. Delegating LUNA is very easy, secure and can be done within a few minutes directly inside your wallet. Open Terra Station and click Stake.
Yes, Terra Station is a safe wallet. The wallet is built to cover all the basic security needs of storage and digital asset management. However, be sure to confirm that the wallet or extension you are downloading is the official software.
The Luna Classic price is $0.00008626, a change of -4.20% over the past 24 hours as of 5:00 p.m. The recent price action in Luna Read more... Don't invest unless you're prepared to lose all the money you invest.
Terra 2.0 price is -35.35% over the last year. The highest price of LUNA2 in the last year was $1.26 and the lowest price of Terra 2.0 in the last year was $0.33.
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