How to Buy TerraUSD (UST)

Are you interested in buying TerraUSD (UST) or exploring other cryptocurrencies? You've come to the right place! Explore all the ways you can buy TerraUSD (UST) with this guide. KuCoin supports over 700 cryptocurrencies and is constantly adding more crypto gems to our platform. Although KuCoin currently does not support TerraUSD (UST), we will show you how you can buy this digital asset in the step-by-step guide below.

Where Can You Buy TerraUSD (UST)?

There are several ways to get TerraUSD (UST). Here are some of the most popular options you can choose from:

Centralized Exchanges (CEXs)

Buying TerraUSD (UST) through an exchange or a broker is fast and easy for beginners. When choosing a centralized exchange, make sure that it supports TerraUSD (UST). Confirm that your selected exchange has solid security, liquidity, and a competitive fee structure.

Crypto Wallets

If security and complete control over your crypto assets are your top priorities, you may wish to buy and store TerraUSD (UST) using a non-custodial wallet, such as KuCoin Wallet or MetaMask. The leading Web3 crypto wallets allow you to buy or swap thousands of cryptocurrencies easily. Find a reputable crypto wallet browser extension or download the wallet on your smartphone. Create or import an existing crypto wallet address to store, send, and receive crypto and NFTs.

Decentralized Exchanges (DEXs)

In contrast to centralized exchanges like KuCoin, decentralized exchanges provide trustless crypto swapping based on self-executing smart contracts. Decentralized exchanges like Uniswap support buying and trading of thousands of crypto trading pairs. Most tokens are on EVM-compatible blockchains such as Ethereum and Polygon. To interact with a DEX, you will need to connect to the DEX using a compatible wallet such as MetaMask.

How to Buy TerraUSD (UST): A Step-by-Step Guide

Buy TerraUSD (UST) on a Centralized Exchange

A centralized exchange is the simplest and most common way to buy, hold, and trade crypto. Here's how you can buy TerraUSD (UST) via a centralized exchange:

1. Choose a CEX: Select a reliable and trustworthy crypto exchange that supports TerraUSD (UST) purchases. Consider the ease of use, fee structure, and supported payment methods when choosing a crypto exchange.

2. Create an account: Enter the required information and set a secure password. Enable 2FA using Google Authenticator and other security settings to add an extra layer of security to your account.

3. Verify your identity: A secure and reputed exchange will often ask you to complete KYC verification. Information required for KYC will vary based on your nationality and region. Users who pass KYC verification will have access to more features and services on the platform.

4. Add a payment method: Follow the instructions provided by the exchange to add a credit/debit card, bank account, or other supported payment method. The information you need to provide may vary depending on your bank's security requirements.

5. Buy TerraUSD (UST): You are now ready to buy TerraUSD (UST). You can easily buy TerraUSD (UST) using fiat currency if doing so is supported. You could also do a crypto-to-crypto exchange by first purchasing a popular cryptocurrency such as USDT, and then exchanging it for your desired TerraUSD (UST).

Buy TerraUSD (UST) via a Crypto Wallet

You may buy certain cryptocurrencies directly via a crypto wallet. If supported by your wallet, you can buy TerraUSD (UST) through the following steps:

1. Choose a wallet: Select a reliable and reputable crypto wallet that supports TerraUSD(UST).

2. Download the app: Download the wallet application to your device from the Google Play Store, App Store, or as a browser extension.

3. Create a wallet: Create a new wallet address or import an existing one if you already have one. Make sure you write down the seed phrase and keep it in a secure place. No one can help you access your wallet if you lose your seed phrase.

4. Buy TerraUSD (UST): Purchase the cryptocurrency using a supported payment method. Check the fees, since they may be higher than what exchanges charge.

5. Swap for TerraUSD (UST): Alternatively, if your wallet doesn’t support direct fiat-to-UST purchases, you can first buy a more popular cryptocurrency like USDT, and then exchange it for TerraUSD(UST) through your crypto wallet or on a decentralized exchange.

Most crypto wallets that support fiat-to-crypto purchases don't directly handle payments but instead use third-party payment processors. Check and make sure you are okay with their fees before making purchases.

Buy TerraUSD (UST) on a Decentralized Exchange (DEX)

When buying TerraUSD (UST) from a decentralized exchange, you are connected with sellers directly, without any intermediaries. DEXs are a good alternative for users who want more privacy as there are no sign-up or identity verification requirements. You will maintain full custody of your crypto assets via self-custodial wallets. Follow the step-by-step guide to learn how to buy TerraUSD on a DEX.

1. Choose a DEX: Select a decentralized exchange that supports TerraUSD (UST). Open the DEX app and connect your wallet. Make sure your wallet is compatible with the network.

2. Buy base currency: To buy UST, you will first need to have the base currency as DEXs currently only support crypto-to-crypto exchanges. You can buy the base currency from a secure centralized exchange such as KuCoin.

3. Send the base currency to your wallet: After purchasing the base currency, transfer it to your web3 wallet. Note that transfers may take a few minutes to complete.

4. Swap your base currency for TerraUSD (UST): You are now ready to swap your base currencies for TerraUSD (UST).

Make sure you have enough blockchain native tokens, such as ETH on the Ethereum blockchain, to pay for transaction fees. Also, pay attention to slippage and adjust slippage tolerance according to your preferences.

How to Store TerraUSD (UST)

The best way to store TerraUSD (UST) varies based on your needs and preferences. Review the pros and cons to find the best method of storing TerraUSD (UST).

Store Your TerraUSD (UST) on an Exchange

Holding your funds on an exchange provides the most convenient access to investment products and features, such as spot and futures trading, staking, lending, and much more. The exchange will securely hold your funds, so you don't have to go through the hassle of managing and securing your private keys. However, be sure to select an exchange that implements strict security measures so you can rest assured that your crypto assets are safe and in good hands.

HODL Your TerraUSD (UST) in Non-Custodial Wallets

"Not your keys, not your coins" is a widely recognized rule in the crypto community. If security is your top concern, you can withdraw your TerraUSD (UST) to a non-custodial wallet. Storing TerraUSD (UST) in a non-custodial or self-custodial wallet grants you complete control over your private keys. You can use any type of wallet, including hardware wallets, Web3 wallets, or paper wallets. Note that this option may be less convenient if you wish to trade your TerraUSD (UST) frequently or put your assets to work. Be sure to store your private keys in a secure location as losing them may result in the permanent loss of your TerraUSD (UST).

What Can You Do with TerraUSD (UST)?

Hold

Store your TerraUSD (UST) assets on a CEX or in a self-custodial wallet.

Trade

Trade TerraUSD (UST) on supported platforms.

Earn

Use your TerraUSD (UST) to engage in staking, lending, or yield farming to earn passive income.

FAQ

Is TerraUSD Safe?

TerraUSD is a stablecoin whose value is pegged to that of the US dollar, protecting it against the price volatility that most other cryptocurrencies experience. While the peg may vary slightly in extreme market conditions, the algorithmic mechanism of the Terra blockchain will bring back its value to the USD quickly, making any changes in UST price temporary.

As a result, the UST stablecoin is a safe digital asset to buy and use, especially as a payment method. Since its value remains stable, there is no worry of a sudden decline in UST price which can cause a loss in your portfolio.

In this manner, the TerraUSD is a safe instrument to invest in and use, especially for digital transactions.

Is TerraUSD (UST) a Good Investment?

The TerraUSD stablecoin is seeing rising adoption and interest among crypto investors, especially within the DeFi domain. With its market cap climbing higher on the back of increasing integrations between the Terra community and other blockchains, the UST token is becoming an even more versatile asset to invest in.

Lending liquidity in UST pools also offers attractive returns, making it even more valuable as a digital asset to include in your portfolio. Make sure you look for the right platform which is trustworthy and has adequate security to safeguard your cryptocurrency when participating in such opportunities.

What differentiates UST from other stablecoins is that it is decentralized in operations. This makes its management and price stability mechanism automated, unlike other peers which have a central authority that holds reserves to maintain the peg of their stablecoins.

How to Use TerraUSD Stablecoin

You can use TerraUSD in several ways, including:

➢ Lending Liquidity in DeFi

Most platforms offer attractive yields and returns on lending liquidity to UST pools. Simply lock your UST holdings for a specific period of time in the liquidity pool to generate a lucrative stream of passive income and make your UST investment work for you.

➢ Trade Other Cryptocurrencies

Several exchanges have started offering crypto pairs with TerraUSD as the base currency. Owing to its rising popularity and use among investors, there are many cryptocurrency pairs enjoying high liquidity with UST as the base pair. Sell TerraUSD to buy other digital currencies in exchange for the UST after assessing their price, market cap, 24 hour trading volume and other relevant data.

➢ Payment Method

Making online payments for the purchase of goods and services using TerraUSD is extremely convenient. For businesses that support crypto payments, using a stablecoin such as the UST is far more convenient than using other crypto assets for transactions.

➢ Digital Payment Transfers

In addition, the low transaction fees on the Terra blockchain also make it a cost effective way to transfer money to users anywhere in the world. Simply send UST from your wallet to other users’ crypto wallets to conduct fast and cheap transactions.

How to Earn Interest on UST

You can generate a stream of passive revenue by staking UST. Several leading crypto platforms offer attractive passive income potential on your TerraUSD holdings.

Staking UST on Anchor Protocol, one of the Leading DeFi protocols on the Terra ecosystem, offers the highest returns for investors. As of April 2022, the rate of interest stands at just under 19.50%.

Add your TerraUSD coins to your wallet or to Terra Station. Go to the Earn page on Anchor Protocol’s Deposit section. Input the number of UST coins you wish to deposit and earn interest here.

You can then sign the transaction with Station Extension to confirm it. Sit back and wait for interest to accrue on your UST crypto.

Alternative Ways to Buy TerraUSD (UST)

In addition to the more popular methods discussed above, there are also alternative ways of buying TerraUSD (UST), including:

Peer-to-Peer (P2P) Crypto Exchanges

Peer-to-peer (P2P) exchanges connect buyers and sellers directly, allowing you to buy or sell crypto using various payment methods. With P2P trading, you have more freedom to select your preferred offers and trade directly with counterparties. But keep a watch out for potentially unfavorable rates and scammers.

Crypto ATMs

With crypto gaining mainstream adoption, more and more crypto ATMs are being installed worldwide. You can buy TerraUSD (UST) using a crypto ATM near you if it is supported.

Crypto Gift Cards

Buying crypto with gift cards is still a relatively underused method, but a good one. You can easily create an account via a gift card and exchange for TerraUSD (UST) when supported.

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Disclaimer

Given the nature of the crypto market, the price of TerraUSD (UST) is subject to high market risk and price volatility. We recommend you invest in digital assets only after you understand how they work and their associated risks. Other factors to consider when devising your crypto investment strategy include your experience level, financial situation, investment objectives, and risk tolerance. You could also consult an independent financial advisor before buying cryptocurrencies. The above information is not financial advice, and past performance is not a reliable indicator of how the market will fare in the future. The value of your investments and assets may rise or fall based on market conditions, and there is no guarantee that you will get back the amount you invest or profit from your investments. Your investment decisions are your sole responsibility, and KuCoin is not responsible for any losses you may incur when you buy crypto on its platform. We rely on third-party sources for price and other data related to the cryptocurrencies listed above, and we are not responsible for its reliability or accuracy. The information is provided to you solely for informational purposes and is not warranted by KuCoin.