Wrapped Luna (WLUNA) is an Ethereum token created to represent Terra (LUNA) on the Ethereum network. It is not LUNA, but rather a distinct ERC-20 token created to track the value of LUNA. WLUNA was established to allow LUNA holders to trade, own, and participate in Ethereum-based decentralised finance (“DeFi”) dApps. 1 LUNA can be traded for 1 WLUNA via a WLUNA partner, and vice versa.
Continue reading for easy-to-follow step-by-step instructions.
You must first purchase one of the major cryptocurrencies, in our example, Bitcoin (BTC). In this post, we will go through two of the most popular fiat-to-crypto exchanges, Uphold.com and Coinbase, in depth. Both exchanges have their unique fee policies and features, which we shall go through in depth. It is advised that you test both of them and choose which one best suits you.
Once you’ve completed the KYC procedure. You will be prompted to provide a payment method. You may either submit a credit/debit card or utilise a bank transfer here. When you use a credit card, you will be charged additional costs, but you will also make an instant transaction. While a bank transfer is less expensive but takes longer, depending on where you live, certain nations provide fast cash deposits with low costs.
Now that you’re ready, click the ‘Trade’ button at the upper left, select Bitcoin, and complete your transaction…and congratulations! You have just made your first cryptocurrency purchase.
However, because WLUNA is an altcoin, we must move our to an exchange where WLUNA may be exchanged. The exchanges listed below allow you to trade WLUNA in a variety of market pairings; visit their websites to sign up for an account.
After that, you’ll need to deposit BTC from Coinbase to the exchange. After your deposit has been verified, you may acquire WLUNA from the exchange view.
Binance is a renowned cryptocurrency exchange that began in China but later relocated its headquarters to the crypto-friendly island of Malta in the European Union. Binance is well-known for its cryptocurrency-to-cryptocurrency trading services. Binance sprang onto the scene during the 2017 crypto craze and has since risen to become the world’s leading cryptocurrency exchange. Unfortunately, Binance does not accept US investors, therefore we propose that you sign up on one of the other exchanges listed on this page.
Gate.io is a cryptocurrency exchange based in the United States that debuted in 2017. Because the exchange is based in the United States, US investors may, of course, trade here, and we urge that US traders sign up for an account on this exchange. The conversation is available in both English and Chinese (the latter being very helpful for Chinese investors). The variety of trading pairs offered by Gate.io is its key selling point. The majority of the new cryptocurrencies may be found here. Gate.io has an amazing trade volume as well. It is generally always one among the top 20 exchanges in terms of trade volume. On a daily basis, the trade volume is around USD 100 million. The top ten trading pairs on Gate.io in terms of trading volume typically include USDT (Tether) as one component. To recap the preceding, Gate.io’s large number of trading pairs, as well as its exceptional liquidity, are both highly noteworthy elements of this exchange.