How to Buy TerraUSD Right Now
In this article, we will show you how to buy TerraUSD easily. By the end of this article you would learn how to buy UST with USD, BTC or ETH. Keep reading.
Table of Contents:
- What is TerraUSD? Our review
- Current prices
- Where to buy UST
- How to safely store UST
- Frequently asked questions
Current TerraUSD Price Stats
|UST Price||$1.0009 USD|
|Price Change24h||$0.0010 USD (0.10%)|
|24h Low / 24h High||$0.9993 / $0.9998 USD|
|Trading Volume24h||$24,310,654 USD|
What is TerraUSD? A Review
Terra aims to build a new financial infrastructure that works better for everyone. The network is powered by a family of stablecoins, each pegged to major fiat currencies all algorithmically stabilized by Terra’s native token, Luna. Terra’s mission is to set money free by building open financial infrastructure. Luna, as the native staking asset from which the family of Terra stablecoins derives their stability, utility, and value, acts both as collateral for the entire Terra economy and as a staking token that secures the PoS network. Luna can be held and traded like a normal crypto asset, but can also be staked to accrue rewards in the network generated from transaction fees. Luna can also be used to make and vote on governance proposals.The family of Terra stablecoins is designed to achieve stability through consistent mining rewards with a contracting and expanding money supply. For example, if the system has detected that the price of a Terra currency has deviated from its peg, it applies pressure to normalize the price. Currently, the family of Terra stablecoins includes: KRT (Terra stablecoin pegged to Korean Won), UST (Terra stablecoin pegged to US Dollar), MNT (Terra stablecoin pegged to Mongolian Togrog), SDR (Terra stablecoin pegged to IMF SDR), with more being added in the future.
Where and How to Buy TerraUSD (UST) Coin
There are 3 steps to purchasing TerraUSD. They are:
- Buy Bitcoin: Buying Bitcoin in 2021 is a fairly simple matter which we don't need to go in-depth on. The best places to but Bitcoin directly today with USD or your native currency are: Coinbase, Binance and Paypal.
- Move the Bitcoin to an Exchange that supports UST: Once you have purchased BTC, the next step is to move the BTC to an exchange that supports the UST/BTC trading pairs.
- Buy TerraUSD on the Exchange: Now, you can buy TerraUSD with your Bitcoin on your preferred exchange from the options we provided. Some of these exchanges support different UST pairs. Below is a detailed breakdown of each exchange and the trading pairs it supports.
How to Safely Store TerraUSD Crypto
Once you buy TerraUSD, the next question you'd have is "where do I store my TerraUSDs?". It is quiet easy to store your TerraUSD tokens after purchase. In fact there are two easy methods of doing so:
- Cold storage: There is a saying in crypto that the only tokens you own are those on your hard drive. This is very true as lots of things could happen to coins stored on exchanges - e.g hacks. For this reason, cold storage is usually a good option.
Hardware wallet options like - The Ledger Nano S or Ledger Nano X and SecuX V20 could be a good place to store TerraUSD. If TerraUSD is an Ethereum based ERC-20 token, you can also store it in any ERC-20 compatible wallet such as MyEtherWallet (MEW) or MyCrypto.
- Exchanges: Storing on Exchanges might be a good option if you don't plan on hodling TerraUSD for the long-term and need to quickly trade it and make some gains. However, be careful as a downside of storing on exchanges is the susceptibility of exchanges to hacks.