Terra (LUNA), the collapse of Terra Luna Classic, resulted in the reformation of the Terra ecosystem and the introduction of a new native token. The purpose of the new Terra Luna is to ensure the continuity of the ecosystem while implementing improved mechanisms and inheriting the original vision. By learning from past mistakes, the development team aims to create a more resilient and transparent platform. This article provides answers to two frequently 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 newly reformed Terra ecosystem. It emerged after the collapse of the original Terra Luna, which is now referred to as Terra Luna Classic. To ensure the sustainability and flexibility of the Terra ecosystem, a new token was introduced. The collapse of the original Terra Luna in 2022 necessitated a new strategy to restore trust among users and investors. In response, the Terra community and developers decided to introduce a new token under the same name, Terra Luna. The new token aims to revive the ecosystem and start fresh while implementing improved mechanisms to prevent past issues. The new Terra Luna offers various features to enhance stability and usability. It incorporates advanced technological frameworks for robust performance and a governance model that allows for transparent and democratic decision-making by involving the community.
The future of the Terra ecosystem looks promising with the introduction of the new Terra Luna. The development team is committed to creating a more resilient platform by learning from past mistakes and implementing 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, hopeful that it will bring stability and growth. The proactive measures taken by the development team have instilled a renewed sense of optimism regarding 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) with TRY. Binance TR offers the trading of over 100 cryptocurrencies, including LUNA, and allows for quick account creation. 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 a simple process. Visit trbinance.com and proceed to the “Create Account” step. In the first step, you will need to enter basic information such as your email address, phone number, name-surname, date of birth, nationality, and Turkish ID number. Complete the requested information accurately, and an email/sms verification will be conducted to confirm the information. After this process, you will move on 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 that needs to be completed before engaging in cryptocurrency trading and during account creation. You can choose to complete the verification process from your phone or through the official Binance TR website. Ensure that you have your mobile phone ready for identity verification from the website. On the Binance TR website, hover over the “Profile” option at the top right, click on “Identity Verification and Limits” from the drop-down menu, and then click on “Verify.” Scan the QR code that appears with your phone’s camera to continue the process on your phone. If you cannot scan the QR code, you can have the identity verification address sent to your phone via SMS by clicking on the “Copy URL” option. Follow the instructions on your phone to complete the verification process accurately.
How to Deposit TL on Binance TR?
You can easily deposit TL into your Binance TR account from various banks. Vakıfbank, Ziraat Bankası, İş Bankası, Akbank, Fibabanka, Şekerbank, and Türkiye Finans accounts allow for uninterrupted TL deposits and transactions 24/7. Deposits from other banks can be made via FAST up to 50,000 TL, also available 24/7. 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 at the top left of the homepage, and click on the “Deposit” option from the drop-down menu. Select your preferred bank and follow the instructions to complete the transfer process.
How to Buy LUNA Coin with TL on Binance TR?
After completing the deposit process, you can proceed to buy LUNA coin with TL by clicking on the “Buy-Sell” option in the top left menu on the Binance TR website. On the trading page that opens, search for “LUNA” in the search section on the right side of the page. Click on the LUNA/TRY option from the results to go to the TL to LUNA purchase page. Enter the price at which you want to buy LUNA in the first box and the number of LUNA you want to buy in the second box. After entering the desired amount, click the “Buy LUNA” button to complete your purchase.
What is Binance TR?
Binance TR is the Turkish version of Binance, the world’s largest cryptocurrency exchange by trading volume. It was officially launched in Turkey in 2020 and provides cryptocurrency trading services to Turkish investors. Binance TR offers both fiat-to-crypto and crypto-to-crypto trading services, leveraging Binance’s technology, security measures, and liquidity through the Binance Cloud infrastructure. Users in Turkey can deposit and withdraw Turkish lira (TRY) directly through bank channels and trade various cryptocurrencies with TRY trading pairs via Binance TR. The platform provides market-leading spot trading liquidity, a powerful matching engine, advanced security protocols, custody solutions, and risk controls to support users in their cryptocurrency trading journey.
Disclaimer: The information provided in this article is not investment advice. Investors should be aware of the high volatility and risk associated with cryptocurrencies and conduct their own research.
