Convert
Turkish lira (TRY) to LUNA Terra 2.0 (LUNA) Instantly
Purchase LUNA Terra 2.0 (LUNA) with Turkish lira (TRY) easily at Switchere and benefit from fast, secure transactions.
About
LUNA Terra 2.0 (LUNA)
Terra 2.0 (LUNA) represents a new public blockchain launched as a community-driven initiative to revive the vibrant Terra ecosystem following the de-pegging of its original algorithmic stablecoin, UST. This new digital ledger operates independently of the original chain, now known as Terra Classic (LUNC), and crucially, does not feature an algorithmic stablecoin in its design. The primary objective is to preserve the valuable developer community and the wide array of decentralized applications (dApps) that were built on the original Terra network, providing them with a new foundation for growth and innovation within Web3 infrastructure.
Built using the Cosmos SDK and secured by the Tendermint proof-of-stake consensus mechanism, the Terra 2.0 blockchain prioritizes performance and interoperability. The native digital asset, LUNA, is central to the network's operation. Its primary functions are as a utility token for transaction fees and as a staking token, where validators and delegators lock up LUNA to secure the decentralized network and earn rewards. Furthermore, LUNA serves as the governance token, empowering holders to vote on key on-chain governance proposals that direct the future development and treasury management of the ecosystem, aiming to rebuild a robust hub for DeFi applications.
How to Buy LUNA Terra 2.0 (LUNA)
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Frequently asked questions
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What is the TRY/LUNA trading pair and what does it represent?
The TRY/LUNA pair represents a direct fiat on-ramp allowing users to purchase Terra 2.0's native token, LUNA, using Turkish Lira (TRY). On a cryptocurrency exchange, this pair allows you to trade TRY directly for LUNA on the spot market, interacting with an order book. This LUNA is the asset of the new Phoenix-1 mainnet, not to be confused with Terra Classic (LUNC). -
What are the common payment methods to deposit TRY for LUNA purchases in Turkey?
To acquire LUNA with Turkish Lira, investors typically use local Turkish cryptocurrency exchanges that comply with KYC/AML regulations. Common deposit methods include direct bank transfers (Havale/EFT) from a Turkish bank account registered in your name. Some platforms may also support third-party payment services popular in Turkey. -
What are the core functions of LUNA on the Terra 2.0 blockchain?
On the new Terra chain (Phoenix-1), LUNA serves as the primary governance token. Its main utilities include staking to secure the network through its Proof-of-Stake consensus mechanism and participating in governance votes on proposals. It is also the native gas token for transactions within the burgeoning ecosystem of dApps being built on this Cosmos SDK-based chain. -
Why would an investor choose a direct TRY/LUNA pair over converting TRY to USD first?
Trading the TRY/LUNA pair directly on a local exchange offers two main advantages: cost and efficiency. It eliminates the need for a double conversion (TRY to USD, then USD to LUNA), which saves on transaction fees and potential losses from currency exchange rate spreads. It also provides a simpler, faster digital asset purchase process for those holding Turkish Lira. -
After buying LUNA with TRY, what is the best practice for storing the digital asset?
For enhanced security, it is strongly recommended to move your LUNA from the cryptocurrency exchange to a non-custodial digital wallet where you control the private keys. Ensure the wallet explicitly supports the Terra 2.0 (Phoenix-1) network. Storing your assets in a personal wallet mitigates risks associated with exchange-specific issues and gives you full sovereignty over your LUNA, also enabling you to participate directly in staking or governance.