Arenafriends Finance
easier worldwide payment and 20% interest
Arenafriends supports multiple type of currencies.
For Entertainment and bets: Arenafriends builds on TIME as it's currency that is traded on the AVAX blockchain. You can get AVAX on one of these markets. TraderJoe is the dominant exchange for getting TIME from AVAX, but there are others.
For everthing else
Arenafriends builds on terra.money as a worldwide currency for your everyday payment needs. Before the Arenafriends wallet appears the only way to get TERRA is:
To get TERRA for payment here are the steps:
How to Buy Terra (LUNA)
Open an online account.
To get started investing you need to open an account with a crypto brokerage that supports Luna. The 2 most prominent cryptocurrency exchanges that support Terra in the U.S are Voyager and Gemini. If you’re looking to buy LUNA without paying trading fees, ZenGo is the platform for you. The cryptocurrency wallet lets its users buy Terra Luna tokens for free! Like an account with a stock brokerage, you’ll have to provide personal identification information for tax purposes. To make an account with these exchanges, you’ll need to provide your name, Social Security number, address, email and birthdate.
Buy or download a crypto wallet.
In order to hold your cryptocurrency securely you need to store your assets on a cryptocurrency wallet. Storing your cryptocurrencies on exchanges makes your crypto at risk of being hacked –– many exchanges that claim to be secure have been breached in the past. Cryptocurrency wallets can be software wallets or hardware wallets. Software wallets are mobile apps or computer programs that store cryptocurrencies, and hardware wallets are physical devices that store your cryptocurrency offline. Hardware wallets are the most secure way to store your crypto, as it’s impossible to access your funds without the physical device. If you plan on trading your crypto regularly, you’ll need to keep your funds on the exchange to do so. Binance is the most secure exchange to use for trading because it has a reserve account to insure your assets against security breaches.
Make your purchase.
Once you’ve chosen a crypto wallet to store your funds on, you’re ready to make your purchase. You can place your buy order for Luna as either a limit or market order. Market orders will purchase Luna at the current market price, while Limit orders will execute at a specified price you set. If the market price of Luna never reaches the price specified in your limit order, it won’t be filled.
Best Crypto Exchanges For LUNA
Not all cryptocurrency exchanges are created equal. Some platforms offer dozens of cryptocurrencies to invest in, while others only offer a select few altcoins and bitcoin. Also, it’s important to consider the security and reputability of the crypto exchange you choose to use. The 2 most reputable exchanges that support the trading of LUNA are Gemini and Voyager.
Unlike Robinhood and SoFi, these exchanges let users send and receive cryptocurrency from their exchange wallets. This way, you’re able to stake and earn interest on cryptocurrencies through decentralized applications (dApps).
Another great option is ZenGo. While not a traditional cryptocurrency exchange, ZenGo is a cryptocurrency wallet that allows users to buy cryptocurrency directly on its platform. For LUNA in particular, ZenGo offers zero trading fees!
Brief History of Terra
Terra was made with a focus on price stability and user experience. Daniel Shin and Do Kwon founded Terra in January 2018 when the cryptocurrency market bubble popped. The cryptocurrency has grown significantly since its inception, appreciating over 1,000% this year.
Institutional investors that purchased LUNA during its initial coin offering include Binance, OKEx and Huobi.
Luna: Terra’s Native Cryptocurrency
Luna is the native cryptocurrency to Terra’s platform. Luna is used to provide liquidity to the platform, as decentralized finance programs need its users to provide liquidity in its smart contracts. Smart contracts are code on the blockchain that is capable of performing financial functions with cryptocurrencies.
Terra offers rewards to incentivize users to stake Luna on its platform. Users can earn interest from transaction fees and arbitrage on Terra’s platform. Staking is necessary not only for liquidity, but to adjust the prices of stablecoins through the smart contract’s rebalancing algorithms.
Luna has a maximum supply of 1 billion tokens, but technically more than 1 billion tokens can be minted. If more than 1 billion tokens are available in the ecosystem, the program will burn extra supply in its treasury. At the time of writing, Luna is $6.33 per coin.
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