Terra (LUNA), the collapse of Terra Luna Classic, led to the reformation of the Terra ecosystem and the introduction of a new native token. The newly introduced Terra Luna aims to ensure the continuity of the ecosystem while learning from past mistakes and implementing improved mechanisms. In this article, we will answer two commonly asked questions: What is Terra (LUNA) and how to buy Terra (LUNA) with TRY.
What is Terra (LUNA)?
Terra is the native token of the reformed Terra ecosystem. After the collapse of the original Terra Luna, a new token was introduced to ensure the ecosystem’s continuity and flexibility. The collapse of Terra Luna Classic necessitated a new strategy to restore trust among users and investors.
In response to the collapse, the Terra community and developers decided to introduce a new token under the same name, Terra Luna. This move aimed to revive the ecosystem and provide a fresh start. The new Terra Luna inherits the original vision while implementing improved mechanisms to prevent past issues.
The new Terra Luna comes with various features aimed at increasing stability and usability. It includes advanced technological frameworks to ensure robust performance. Additionally, the governance model has been developed to allow a more transparent and democratic decision-making process, involving the community in critical aspects of the ecosystem’s evolution.
The future of the Terra ecosystem looks promising with the introduction of the new Terra Luna. The development team is committed to learning from past mistakes and creating a more resilient platform. This includes continuous updates and innovations to improve user experience and expand the ecosystem’s reach.
The community and investors have responded to the new Terra Luna with cautious optimism. Many are hopeful that the new token will bring stability and growth. The proactive measures taken by the development team are appreciated, and these initiatives have led to a renewed sense of optimism surrounding the future prospects of the Terra ecosystem.
How to Buy Terra (LUNA) with TRY?
Binance TR is a suitable cryptocurrency exchange for Turkish investors who want to buy Terra (LUNA). Binance TR allows the trading of over 100 cryptocurrencies, including LUNA. To buy Terra (LUNA) with TRY on Binance TR, follow the steps below.
How to Open an Account on Binance TR?
Opening an account on Binance TR is easy. Go to trbinance.com and click on the “Create Account” step. Enter your email address, phone number, name-surname, date of birth, nationality, and Turkish ID number in the first step.
After entering the information correctly, verify the information through email/sms verification. Proceed to the second step, which is identity verification (KYC).
How to Verify Your Account on Binance TR?
Identity verification on Binance TR is a necessary security procedure before starting cryptocurrency trading. You can choose to complete the verification process from your phone or through the official Binance TR website. You will need your mobile phone for identity verification from the website.
On the Binance TR website, hover over the “Profile” option, click on “Identity Verification and Limits,” and then click on “Verify.” Scan the QR code with your phone’s camera or click on “Copy URL” to have the identity verification address sent to your phone via SMS.
On your phone, tap on the “Identity” option and select the document type that suits you best. Upload photos of the front and back sides of your ID card or driver’s license. Then take a selfie with your phone’s front camera. Ensure that the images are clear and the information is easily readable.
After completing these steps accurately, your identity verification process will be completed shortly.
How to Deposit TL on Binance TR?
You can deposit TL into your Binance TR account easily from various banks. Deposits can be made 24/7 from Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts. Deposits from other banks can be made 24/7 up to 50,000 TL via FAST. Deposits over 50,000 TL from other banks are processed during EFT hours.
To deposit money into your Binance TR account, go to trbinance.com, hover over the “Wallet” option, and click on “Deposit.” Select your preferred bank or click on the “Other Banks” option if your bank is not integrated with Binance TR. Follow the instructions provided to transfer the desired amount to your Binance TR account.
After your bank completes the transfer, the funds will automatically be reflected in your Binance TR account wallet.
How to Buy LUNA Coin with TL on Binance TR?
After depositing TL into your Binance TR account, click on the “Buy-Sell” option in the top left menu on the Binance TR website. Search for “LUNA” and click on the LUNA/TRY option to go to the TL to LUNA purchase page.
Enter the price and quantity of LUNA you want to buy, then click the “Buy LUNA” button to complete your purchase.
What is Binance TR?
Binance TR is the Turkish version of the world’s largest cryptocurrency exchange, Binance. It was launched in 2020 to cater to cryptocurrency investors in Turkey. Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services, allowing users to deposit and withdraw Turkish lira (TRY) directly through bank channels.
Users of Binance TR have access to market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls.
Disclaimer: The information in this article does not constitute investment advice. Cryptocurrencies carry high volatility and risk, and investors should conduct their own research.
