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What is Terra (LUNA)? 

Created by Terraform Labs in 2018 and officially launched about a year later. Terra is a blockchain protocol that offers safer building and investing in the ever-volatile cryptocurrency market. The creators, Daniel Shin and Do Kwon believe that stability should be emphasized if cryptocurrencies are to record widespread adoption. 

The main purpose of Terra is to offer stability and usability. It achieves this by providing a platform where stablecoins pegged to different fiat currencies —including the unpopular ones like the Mongolian tugrik— can be minted. These stablecoins are called Terra stablecoins, and LUNA is the protocol's utility token. Luna is typically used to increase or reduce the supply of stablecoins.

What are the Benefits of Terra (LUNA)?

Terra is poised to become the leading blockchain payment provider, and the owners are doing an excellent job demonstrating that. Moreover, the ecosystem currently offers the market a lot of benefits, including: 

1. Interoperability

Terra is a multi-chain protocol that’s interoperable with several other networks, including Ethereum and Solana. Also, users can transfer Terra assets back and forth between Ethereum and Binance Smart chain using Terra Bridge—a web-based network. 

2. Quick settlements

The network provides seamless cross-border payment systems that allow users to transact instantly at ridiculously cheap fees. 

3. DApp Development 

Terra enables developers to build decentralized applications. For example, Anchor and Mirror protocols are among the popular financial service providers built on the network. 

Should I buy Terra (LUNA)?

Although currently not one of the top ten largest cryptocurrencies by market cap, it ranks in the top five by revenue made. Terra is taking Asia’s e-commerce market by storm, with its payment system recording over $1B in transaction volumes. As the network continues to expand on a global scale, it is clear that its utility token, LUNA, would increase in value. 

LUNA can be traded on major cryptocurrency exchanges, including Binance, KuCoin, and Huobi Global. After buying some LUNA, you can use it as collateral for an instant loan on YouHoder.

How to get an instant LUNA loan

Don’t sell your LUNA. Use it as collateral for an instant crypto loan and get up to 90% of your collateral’s value in a variety of currencies. We have LUNA to USD loans, LUNA to EUR loans, LUNA to GBP loans, LUNA to CHF loans, and stablecoin loans as well. Simply deposit LUNA today, choose a loan plan – or create a custom one yourself – and you’ll receive up to 30,000 in a currency of your choice in seconds. 

How to borrow Terra - How does it work?

With our Crypto-Backed Loan service, you can borrow BTC, USDT, USD, EUR, GBP, or CHF only. That means if you want to borrow LUNA you first must convert one of the above to fiat and convert it to LUNA using our exchange service. 

Terra loan calculator

You can use our LUNA loan calculator with different loan plans to find the best option for you. You can see all parameters on the form such as loan duration, price down limit, and loan repayment. If you want to loan Terra, please check the calculator first to see which plan works best for you. 

Terra lending process

Terra lending is easy with YouHodler. Just open and verify your account, deposit your crypto to the wallet and use it as collateral for your future LUNA loans.

It's worth trying! Forget selling your

TERRA

with instant crypto backed loans on YouHodler

If you would like to learn more about crypto credits, please continue to the app. Start boosting your crypto portfolio now with YouHodler's crypto lending, convert, buy and sell options.

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