Terra is the best decentralized financial institution. They have their own central reserve. So, customers investing in this ecosystem can earn interest on their assets, spend on their payment system, and invest it too.
Over the years, Terra has found interest from big shot companies and it also has a $6 billion market cap. There is a lot more this coin can do and hence investing in it today will be the best decision for any investor.
What is the Terra crypto coin?
The LUNA coin is the native currency of the Terra ecosystem. There is a maximum supply of 734.4 million LUNA coins. According to coinmarketcap, 351.3 million coins are in circulation. Similarly, if the circulation reaches maximum supply, we will see the price escalate.
Terra cryptocurrency coin live price today as of 23rd April 2022:
7120 INR – LUNA price in INR
93.16 USD – LUNA price in USD
Why should I buy the Terra crypto coin?
Here are a few reasons you must consider investing in the LUNA coin.
1. Their payment system has over 2 million active users & processes $1 billion in transactions every year.
2. It can communicate with several blockchains and is a programmable ecosystem.
3. Their stable coin LUNA has a high market share and is rising daily.
4. Finally, for a coin that pumped over 15,410% in 2021, there is tremendous scope for this coin to boost again.
What is the use of the Terra crypto coin?
Here are a few use cases of this coin that regular investors must know.
1. Paying the fees for transactions on the network.
2. Stake LUNA coins on different platforms to earn interest.
3. Delegate coins to validators for voting use.
4. Every coin holder participates in the governance and future decisions of the network.
How to buy the Terra crypto coin in India?
There are many cryptocurrency apps in the market where you can purchase the LUNA coin. However, I believe the best cryptocurrency apps in India are these two platforms that I have been using – Binance and WazirX.
I have read good Binance reviews from customers in India and abroad. Both Binance India and Wazir X are easy-to-use platforms, and I have never faced problems while depositing or withdrawing money.
Here are the basic steps you must follow on each cryptocurrency app.
1. Sign up
2. Add a Bank account
3. KYC verification
4. Deposit INR/USD in your wallet.
5. Start trading
Terra crypto price prediction:
In 2021, the LUNA coin grew from 49 INR to 7600 INR, a whopping 15,410% increase. If you invested INR 4900 and bought 100 LUNA coins, their value during that year would be INR 760,000.
In 2022, the cryptocurrency market is going through a bear phase. The LUNA coin price now stands at INR 7120 today. Hence, price predictions for this are very promising. If you believe in the future of the Terra network, it can end the year between INR 8500 – INR 10000 (20 – 40% growth.)
FAQs:
1. Is cryptocurrency legal in India?
Yes, cryptocurrency is legal in India. From 1st April 2022, if you buy any digital currency, you will incur a 30% + 1% TDS cryptocurrency tax in India.
2. Can the LUNA coin be converted to cash in India?
Yes. You can buy the Terra crypto coin on multiple currency exchange platforms in India. These platforms support buying the LUNA coin in INR.
3. Is Terra crypto a good investment?
Yes. Considering it is a decentralized financial institution in itself, this coin has a strong chance of a price rise every year.
4. Which is the best research tool for cryptocurrency online trading?
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