Yash is a versatile and seasoned writer and analyst in the crypto space with a strong financial background. Over the past year, he has written…
Dassos graduated with a BA in English from Goldsmiths University of London. He quickly developed a passion for trading and investing and has since gained…
As Terra Luna Classic (LUNC) approaches its all-time low levels after its rebranding, many buyers are looking for potential buying opportunities.
This article will help traders who want to know how to buy Luna Classic in the UK. It identifies the best places to buy LUNC, focusing on trading fees and supported assets.
Want to know how to buy Luna Classic in the UK? Here’s a quick overview of key steps. The following sections also provide a detailed step-by-step guide for crypto traders.
Before you being you’ll need to select a Crypto Broker or Exchange – We suggest using MEXC.
76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
The Terra blockchain, now rebranded from ‘LUNA’ to ‘Luna Classic (LUNC),’ has shown signs of reversal from its current downtrend.
Consequently, many investors are curious about where to buy Terra Luna Classic in the UK. We have highlighted leading exchanges and brokers to help traders make an informed decision.
One of the top cryptocurrency exchanges right now is MEXC – a popular platform that is used by more than 10 million. One of the key features of MEXC is that it charges no spot trading fees on its platform.
Furthermore, futures trading fees start from only 0.02% per transaction. It only takes a few minutes to start trading LUNA Classic and other cryptos on MEXC. Investors can register a new account, and then deposit funds using a plethora of payment methods.
You can choose to make the deposit with SEPA Transfers, or through a credit/debit card, or SWIFT. MEXC is able to execute fast and efficient trades by using high-performance mega transaction matching technology. The platform also stores more than $500 million worth of user’s assets in cold storage.
To add an extra layer of security, MEXC requires investors to go through a two-factor authentication (2FA) process before logging in. A mandatory KYC process must also be completed before trading with this exchange.
The platform offers advanced charting and trading indicators – which helps with technical analysis. Retail traders can apply up to 10x leverage on their trades to maximize returns. However, leverage can also maximize losses. Thus, it should be used only if you are prepared to lose funds.
Other top features on MEXC include staking – through which one can generate high APYs. Through the MEXC launchpad – investors can view and invest in newly launched projects. MEXC can be accessed through a desktop/laptop, or through the mobile app.
Used by more than 160 million people – Binance is the most popular cryptocurrency exchange in the world. This cryptocurrency platform lets investors trade more than 400+ cryptos.
You can create a new account in only a few minutes, and start trading the best meme coins on Binance. The platform is known for its low fees – which start at only 0.1% per transaction. Investors can earn even higher benefits by holding BNB – the native token of Binance.
Depending on your BNB holdings, you can earn up to 25% in trading discounts. Through Binance’s staking feature, investors can also stake popular meme coins such as Dogecoin and Shiba Inu, and generate high annual yields.
New investors and novices can access tutorials, articles, and guides from the Binance Academy – an online educational platform. To test out your trading strategies, Binance offers a demo account that comes pre-loaded with 10 BTC.
Other features available on Binance include swap farming – which lets you access hundreds of cryptocurrency pairs by accessing liquidity pools. The platform supports payments via VISA, Mastercard, ACH Transfers, and credit/debit cards.
Credit cards incur an additional 4.5 % fee per transaction. Other payment methods such as ACH transfers incur no additional fees. Investors can access this popular exchange through a desktop/laptop, or through the Binance app available via iOS and Android.
The platform offers whitelisting capabilities and uses 2FA protocols to protect investor’s funds.
One of the largest cryptocurrency exchanges in the world, Coinbase is used by more than 100 million people. Coinbase allows users to purchase Luna Classic after making a minimum purchase of only £1.
This popular cryptocurrency exchange also provides over 250+ crypto trading options such as Bitcoin, Ethereum, Cardano, and Litecoin. After registering an account with Coinbase, users are required to verify their identity by providing a passport or valid driver’s license.
Then, one can make a deposit using the various payment options. One slight drawback is that Coinbase charges high fees for certain payment methods. For example, traders must pay a 3.99% fee on debit/credit transactions.
While there are no deposit fees when making UK bank transfers, an additional fee of 1.49% will be charged. Coinbase charges a 1% fee on all cryptocurrency transactions and a 0.5% spread fee.
Despite the high fees, Coinbase gives users access to features such as the Coinbase Learn and Earn program. Through Coinbase Learn, one can access multiple videos and tutorials on crypto-specific topics. The exchange also offers crypto rewards as you complete tutorials through the Learn program.
Through Coinbase Earn, users can earn staking rewards by locking up their assets. However, the staking rewards are not applicable to Luna Classic. Coinbase also stores 98% of all assets in cold storage to protect users’ funds.
Crypto assets are highly volatile and unregulated in most EU countries, Australia, and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk.
Another top cryptocurrency exchange to use is Kraken – which lets investors trade more than 220 cryptocurrencies. This cryptocurrency exchange is one of the only to have never faced a major security issue.
Kraken has also received a CS050 award for its outstanding leadership shown in the security field. To further protect investor’s funds – Kraken stores 95% of all assets in cold storage. As the majority of the assets are stored offline, there is less chance of losing funds if a hack takes place.
On Kraken, investors can buy cryptos and stablecoins instantly. The instant buy fee is set at 1.5% for cryptos, and 0.9% on stablecoins. However, the fees is lesser through the regular spot trading market. Investors can start trading cryptos with a fee of just 0.16% per transaction.
Advanced traders can access Kraken Pro – and access even lower trading fees. The PRO account also supports advanced charting and customization patterns. Investors can use up to 5x leverage on trades – and professional traders may access even higher leverage on their accounts.
Any queries or issues can be handled with the customer support team – which is available 24/7.
Crypto assets are highly volatile and unregulated in most EU countries, Australia, and the UK. No consumer protection. Tax on profits may apply. Your capital is at risk. Don’t invest in crypto assets unless you’re prepared to lose all the money you invest.
Terra Luna Classic, commonly called ‘Luna Classic’ or LUNC, is the original blockchain in the Terra ecosystem, which underwent a significant transformation following an unexpected crisis.
Terra emerged as an open-source blockchain protocol founded by Terraform Labs in South Korea in 2018. It aimed to combine the best features of fiat currency with the decentralized strengths of Bitcoin.
Terra was envisioned as a two-token ecosystem comprising a stablecoin (TerraUSD or UST) and its native token (LUNA), now known as Luna Classic. Terra’s unique proposition included serving as a dynamic hub for dApps and offering a robust payment platform for an algorithmic stablecoin.
Originally, LUNA (now LUNC) played a vital role in staking and governance within the Terra protocol. By absorbing price fluctuations, it acted as a counterpart to Terra’s algorithmic stablecoin, terraUSD or UST. This mechanism allowed UST to maintain its peg to the U.S. Dollar. Terra was valued at over $40 billion, but a crisis led to its downfall.
Following an attack that took advantage of a weakness in the blockchain, UST could not correctly mint and burn its tokens to maintain equilibrium between its demand and supply at the $1 peg.
This failure disrupted the stability mechanism intended to keep the stablecoin’s value aligned with the USD, leading to significant consequences for the Terra ecosystem. An excessive number of UST and LUNA tokens flooded the market, causing panic and a sudden loss of nearly 100% of its value.
Terra’s algorithm, designed to stabilize the UST price through a burn-mint mechanism for LUNA, failed miserably, spiraling into hyperinflation and devaluing both tokens.
Following this collapse, Terra’s founder, Do Kwon, proposed a revival plan that was accepted by the community. The result was the creation of a new blockchain, Terra 2.0, and rebranding the old blockchain as Terra Classic, with its native token renamed to LUNC.
Luna Classic is the rebranded version of the original Terra ecosystem’s vision and legacy. It continues to exist parallelly with Terra 2.0, representing the pre-crisis era of Terra’s ecosystem.
The future of LUNC remains uncertain. The broader sentiment has shown promising comeback inclinations, with a surge in gains over the past few months. Binance, a major crypto exchange, has shown support by burning billions of LUNC tokens, indicating a possible revival in the long run.
Is Luna Classic a good investment? It’s a question that requires consideration of several factors. Introducing a burn tax, support from leading exchanges, and a committed community have built a promising foundation for the coin. However, the potential success of LUNC is still uncertain, with challenges ahead.
Luna Classic has introduced a burn tax of 1.2% on all transactions, including buying and selling. The community’s motive behind this tax is to reverse damages caused by over-minting.
Major exchanges like Binance and KuCoin have expressed willingness to support LUNC’s burn, signaling a potential revival for the coin.
LUNC’s price has witnessed a turbulent journey since its inception. Before you buy Terra Luna Classic, understanding its price history can offer insight into its performance and future potential. Here’s a comprehensive look at the timeline and notable events surrounding LUNC’s price movement.
Cryptoassets are highly volatile and past performance isn’t an indicator of future success. Invest at your own risk.
Luna Classic has been on a downtrend for quite a year now. Over the last few months, It witnessed a descending channel pattern, affirming a bearish edge in the market. Below is a Terra Luna Classic price prediction based on several key factors and indicators that can affect its price.
Two parallel downward lines form a descending channel. In layman’s terms, it resembles a market slump or rut but often signals a cyclical nature in the asset’s price. This could imply a potential price reversal in the future.
Currently, LUNC aims to break out from this long-term channel rally. However, the resistance at $0.00007 could present a roadblock for near-term recovery in 2023.
Recent market behavior has also revealed a ‘descending triangle,’ indicative of bearish domination. This pattern tells us that sellers have been more aggressive than buyers, but LUNC found support at the $0.00006 level, offering some hope to bulls.
We must also consider market momentum indicators like the Exponential Moving Average (EMA). The EMA acts as a tool to gauge market momentum, and in the case of LUNC, both the 20-day and 200-day EMA are significant. LUNC’s price has dropped below these averages, and a bearish crossover has further fueled bearish momentum.
The crypto’s price is hovering near these EMA markers and is in a low volatility phase, meaning minor price fluctuations. But this calm could precede a storm of high volatility.
Given this context, a rebound from the $0.0006 support might ignite a near-term price rise. A key turning point for buyers would be a close above the EMAs, which could signal a possible trend shift. The descending channel, EMA markers, and current support levels all paint a picture of a potential recovery, but also with inherent risks.
Should LUNC close above the $0.00007 resistance, it may enable a bullish break, allowing buyers to regain control in the short to medium term. LUNC might reach the $0.00013 level in this optimistic scenario by 2023.
Below are some notable analysts’ predictions until 2025 for Terra Luna Classic. While these predictions vary between analysts, all anticipate growth for Luna Classic.
Investors must always approach these forecasts with their research, considering that the crypto markets can be unpredictable, and past trends may not always indicate future results.
Digital Coin Price predicts that Luna Classic could reach up to $0.00121 in the next few years. Their forecast details the following:
Telegaon’s price prediction for Luna Classic (LUNC) paints a slightly different picture:
PricePrediction.net has also provided their perspective on Luna Classic’s potential trajectory:
Individuals looking to buy crypto in the UK have several options, including PayPal. But to buy Luna Classic with PayPal in the UK, choices are limited.
PayPal allows buying popular cryptos like Bitcoin, Bitcoin Cash, Litecoin, and Ethereum for as low as $1 while offering security and user-friendliness. Luna Classic, however, is unavailable from PayPal’s crypto offerings.
Several factors must be considered when looking for the best place to buy Luna Classic in the UK. Below are a few quick points to remember:
However, always align your investment decisions with your risk tolerance and research to make well-rounded decisions.
If you’re thinking about buying LUNC, it’s vital to understand the factors that could shape its future. Here’s what potential investors should know:
If you want to know how to invest in LUNC, here’s a four-step guide using MEXC.
To buy LUNC, create an account with MEXC. Fill out a registration form, providing essential details like your name, email, and mobile number.
Investors can also sign up by connecting their crypto wallets to the platform.
As part of the KYC procedure, you must submit identification documents like a passport or a driver’s license.
You can invest in LUNC by transferring funds into your account. Payment methods on MEXC include credit/debit cards, SEPA transfers, and SWIFT.
How to buy LUNC? Find Luna Classic by entering ‘LUNC’ in the search field once funds are deposited.
Enter the number of tokens you wish to purchase on the order box, and confirm the transaction.
In this How to Buy Luna Classic guide we provided a detailed analysis of these platforms and a step-by-step guide to help you invest in LUNC.
MEXC is a popular crypto broker for those looking to invest in crypto in the UK. Its low fees, multiple payment options, and multiple trading features makes it a suitable option to purchase Luna Classic.
You can buy Luna Classic in the UK through exchanges and brokers like MEXC. The process involves creating an account, verifying identity, depositing funds, and purchasing LUNC tokens.
Yes, you can buy Luna Classic on MEXC in the UK. MEXC is a popular platform that allows UK residents to invest in Luna Classic and other altcoins.
MEXC is considered one of the best places to buy Luna Classic in the UK due to its transparent fees and wide range of payment methods.
Luna Classic has experienced significant volatility, so investing requires careful consideration. Though there are predictions of potential growth, its past performance and bearish trends highlight risks. Always conduct thorough research and align your investments with your risk tolerance.
Yash is a versatile and seasoned writer and analyst in the crypto space with a strong financial background. Over the past year, he has written extensively for various publications on topics ranging from technical analysis to on-chain analytics, including here at Techopedia. In addition to his writing, Yash has collaborated with blockchain marketing companies to develop compelling content. He has also gained valuable experience working as a senior assurance associate for over three years at an audit firm, where he worked with a range of listed companies. Yash's passion for global exchange and cultural exchange led him to represent his…
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