For investors interested in acquiring Terra (LUNA or LUNC), understanding how to navigate major cryptocurrency exchanges like HTX—formerly known as Huobi Global—is essential. While the crypto landscape evolves rapidly, the process of purchasing digital assets such as LUNA and LUNC remains grounded in core principles of account setup, fund management, and risk awareness. This guide walks you through each stage of buying Terra (LUNA/LUNC) on HTX, from registration to execution, while highlighting critical precautions every trader should consider.
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Step 1: Register and Verify Your HTX Account
Before trading any cryptocurrency on HTX, you must first create and verify your account. This foundational step ensures compliance with global security standards and protects your digital assets.
Create Your Account
- Navigate to the official HTX website. Always double-check the URL to avoid phishing sites.
- Click "Sign Up", typically located in the top-right corner.
- Enter a valid email address or phone number and set a strong password—ideally combining uppercase letters, lowercase letters, numbers, and special characters.
- Complete the CAPTCHA or receive a verification code via email/SMS.
- Agree to the platform’s terms of service and privacy policy.
Complete Identity Verification (KYC)
To unlock full trading capabilities, including higher withdrawal limits and enhanced security features, you must complete Know Your Customer (KYC) verification:
- Submit a clear photo of a government-issued ID (e.g., passport or national ID).
- Provide proof of address, such as a recent utility bill or bank statement.
- Wait for review—processing times vary but usually take a few hours to several days.
Verification is mandatory for compliance with anti-money laundering (AML) regulations and helps safeguard your account from unauthorized access.
Step 2: Deposit Funds into Your HTX Wallet
Once verified, you’ll need to deposit funds to begin trading. Most users opt for stablecoins like USDT due to their price stability relative to volatile cryptocurrencies.
Choose Your Deposit Currency
- Log in to your HTX account and go to the "Assets" or "Deposit" section.
- Select USDT (Tether) or another supported cryptocurrency you already hold.
Obtain Your Deposit Address
- After selecting a currency, HTX will generate a unique wallet address for deposits.
- Ensure the network type (e.g., ERC-20, TRC-20, BEP-20) matches the one used by your sending wallet. Mismatched networks can result in permanent fund loss.
Transfer Funds
- Use your external wallet or another exchange to send the desired amount to your HTX deposit address.
- Monitor transaction progress using a blockchain explorer (e.g., Etherscan for Ethereum-based transfers).
- Wait for sufficient network confirmations—this may take minutes to hours depending on congestion.
Upon successful confirmation, your balance will update within your HTX account dashboard.
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Step 3: Buy Terra (LUNA or LUNC)
With funds available, you’re ready to purchase Terra tokens. It's crucial to distinguish between LUNA (new Terra chain) and LUNC (original Terra Classic), as they are separate assets with different market dynamics.
Access the Trading Interface
- Go to the "Markets" or "Trade" section.
- Search for LUNA/USDT or LUNC/USDT, depending on which asset you wish to acquire.
Place Your Order
HTX supports multiple order types:
- Limit Order: Set your preferred price. The trade executes only when market conditions meet your criteria. Ideal for cost control but may delay execution.
- Market Order: Buy immediately at the current market price. Offers speed but may incur slippage during high volatility.
Enter the quantity of LUNA or LUNC you want, or specify the USDT amount you're willing to spend. Review all details carefully before confirming.
Monitor Your Order
- Check the "Open Orders" tab to track pending trades.
- Completed transactions appear in your "Order History" and reflected balances update accordingly.
Key Considerations When Buying LUNA/LUNC
Investing in Terra tokens requires more than just technical know-how—it demands strategic thinking and risk awareness.
📉 Market Volatility
Cryptocurrency prices fluctuate rapidly. LUNA and LUNC have both experienced extreme swings historically. Only invest what you can afford to lose, and consider dollar-cost averaging to reduce exposure.
🔒 Exchange Security Risks
Even reputable platforms like HTX face threats from hacking attempts or regulatory changes. Enable two-factor authentication (2FA), use strong passwords, and consider withdrawing long-term holdings to cold wallets.
🔍 Project Fundamentals Matter
Terra’s collapse in 2022 was a watershed moment in crypto history. Before investing:
- Research the current state of both Terra (new chain) and Terra Classic (LUNC).
- Analyze community activity, development updates, and use cases.
- Understand inflationary mechanisms—especially relevant for LUNC, which has high circulating supply.
💸 Transaction Fees
HTX charges trading fees that vary based on your VIP level and whether you’re a maker or taker. These costs affect profitability over time, so factor them into your strategy.
🏦 Tax Implications
Crypto trades are taxable events in many jurisdictions. Maintain accurate records of purchases, sales, and transfers. Consult a tax professional familiar with digital asset reporting requirements.
⚠️ Brand Transition: Huobi → HTX
Note that Huobi rebranded to HTX in 2023. Ensure you're using updated links and interfaces to avoid confusion or potential scams.
✅ Distinguish Between LUNA and LUNC
Confusing these two tokens is a common mistake:
- LUNA: Part of the revived Terra ecosystem launched after the 2022 crash.
- LUNC: The original token from the failed algorithmic stablecoin system; still traded but carries higher speculative risk.
Always double-check ticker symbols and contract addresses before trading.
Frequently Asked Questions (FAQ)
Q: Can I buy LUNA directly with fiat on HTX?
A: Yes, HTX supports direct fiat-to-crypto purchases via bank transfer or card payment for eligible users, depending on regional availability.
Q: Is it safe to keep LUNA/LUNC on HTX long-term?
A: No. Exchanges are vulnerable to breaches. For long-term storage, use a hardware wallet like Ledger or Trezor.
Q: Why isn’t my deposit showing up?
A: Delays can occur due to network congestion or incorrect network selection. Verify the transaction hash on a blockchain explorer.
Q: What happens if I send ETH to an ERC-20 USDT address?
A: You may lose funds permanently. Always confirm the exact token standard before transferring.
Q: Are there withdrawal limits for LUNA/LUNC?
A: Yes. Limits depend on your verification level. Higher KYC tiers allow larger withdrawals.
Q: Does HTX support staking for LUNA?
A: Check HTX’s “Earn” section for staking options. Availability varies by region and product updates.
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