With the massive Terra Luna crypto crash that sent the prices of Luna spiralling out of control, there are still several users who are still curious about how to buy Luna from and how to use a Luna Wallet.
On May 16, Terraform Labs founder Do Kwon introduced a new Luna fork plan which will bolster the Luna recovery, letting users explore and contemplate buying the dip for real.
While buying Luna is easy and quick, storing it in different wallets requires a brief guide of its own. Let's take a look at how can users store Terra Luna in different crypto wallets.
How To Store Terra Luna on Terra Station Wallet
One of the most popular ways to store Luna is on Terra Station - the Luna wallet most closely linked to the Terra ecosystem.
To store Luna in a Terra Station wallet, a user first needs to:
- Open the Terra Station desktop tab and click Create Wallet.
- Type in your credentials and confirm your password.
- Save the 24-word seed phrase for future reference.
- Confirm the seed phrase.
After this, you will need to buy Luna from an exchange or other wallet and deposit it into Terra Station. With Binance, for example, you can buy Luna and then withdraw cryptocurrency from Binance to Terra Station by pasting your wallet's address in Binance.
Once you have received your Luna, you can then hold onto it, stake it, or transfer it further.
Holding and staking Luna on Terra Station will also allow you to take part in a Terra Luna vote on governance proposals for the ecosystem. This includes voting on the upcoming Luna 2.0 and proposals on a Luna burn.
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How To Store Luna In Trust Wallet?
For users using Trust Wallet to store Luna, they need to follow these steps mentioned below:
- Download Trust Wallet and create an account.
- Search for Terra Luna.
- Add some money/crypto through your debit and credit card to buy LUNA.
- Connect to PancakeSwap via tapping on DApps displayed on the lower part of the app.
- Buy Terra and store them in your Trust Wallet.
Aside from these wallets, you can also use store Luna on MetaMask, albeit with some slight differences compared to a traditional wallet.
A final note for those looking to store Luna in a Coinbase Wallet. While a new Coinbase listing was planned for Luna in June, this Luna Coinbase listing now looks in doubt. This means you cannot deposit Luna on Coinbase.