Best Terra Luna Wallets for 2023

Terra Luna is one of the most controversial crypto tokens on the market. Importantly, in May 2022, UST, which is Terra Lunas algorithmic stablecoin, de-pegged against the USD. Therefore losing 99% of its value.

With that being said, ‘Luna 2.0’ has been launched and is available to purchase. Because of this, we have reviewed the best Terra Luna wallets for 2023.

The Best Terra Luna Wallets Ranked

These are some of our top Terra Luna wallet recommendations. A review of each platform can be found a little further down the page.

• eToro – Overall, the Best Terra Luna Wallet
• Crypto.com – Lowest fees to buy Terra Luna
• Coinbase – Easiest wallet to buy Terra Luna
• Terra Station – Terra Blockchain’s official wallet
• Metamask – Non-custodial Software Hot Wallet
• Ledger Nano X – Cold Storage Crypto Wallet
• Trezor – Best Wallet To Store Your Crypto Offline
• ZenGo – The Most Secure Crypto Wallet in Web3

The Best Terra Luna Wallets Reviewed

Ease of use, as well as security, are above all at the top of most crypto investors’ lists. When choosing the ideal wallet. Moreover, many excellent crypto wallets can be installed as a Google Chrome extension and provide users with access to Luna trading and staking. On top of that, access to the Terra network and its stablecoin.

1. eToro – Overall The Best Terra Luna Wallet 

eToro is without a doubt one of the best-respected cryptocurrency wallets on the market. Therefore eToro allows users to buy over 70 of the leading cryptocurrencies available.

 To clarify, eToro has some of the lowest fees for buying Terra Luna, at 1%. As a result, eToro makes your experience as smooth as possible. Allowing access to anyone who wants to buy crypto. Therefore, all you need to do is connect your credit or debit card, a bank transfer and e-wallets.

What makes eToro unique is its world-class security features. In addition to this, eToro operates within the limit of regulatory bodies and is fully compliant. Furthermore, eToro stores its clients’ funds in tier 1 banks and all their users’ personal information are encrypted. This makes eToro undeniably safe and secure.  

eToro is the best wallet to buy Terra Luna:

Another reason eToro is such an appealing option for buying Terra Luna and storing it is that you can stake your cryptocurrency. It is well-known that eToro offers some of the most generous rewards for staking your crypto.

With a minimum of 75% of the staking yield. Furthermore, eToro only keeps a minor fee, to cover the various costs involved. Importantly, eToro takes care of all the staking on your behalf. It is a completely passive process for the user. 

eToro is also an exchange, making it the perfect destination for trading. Consequently, making it ideal for early-stage and experienced crypto traders. Subsequently, this makes it straightforward to buy and store your crypto in one place. This is hassle-free and easy to do because you can log in simply and easily manage your crypto.

Most importantly, eToro is the perfect wallet for beginners and is also great if you are a more seasoned crypto trader. Above all, eToro caters to a wide array of different users, including its best-of-class security, and staking, eToro is a sound option for buying and storing Terra Luna.

Check out our eToro review to learn more about this popular platform.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

2. Crypto.com – A Safe Place to Buy Terra (LUNA)

Crypto.com is our next pick for the best Terra Luna Wallet.  One of the most highly regarded platforms to buy and sell crypto. It has a large share of the market and has become increasingly popular through its security. Additionally, they offer incredible yield on staking and the overall user experience.

Crypto.com does not under any circumstances share your data with third parties, which reiterates their desire for absolute trust and transparency with their customers.

Furthermore, Crypto.com has established a $750m insurance fund, as a means for their clients’ funds protection. Crypto.com is also a fully regulated company and complies with all regulatory requirements. It is committed to consumer protection.

Moreover, and arguably the most desirable aspect of Crypto.com is its staking. All you have to do is buy and hold. By doing this, you can earn up to a 14.5 % yield on your crypto.

As shown in our Crypto.com review, you can make use of its ever-growing Defi platform to contribute to liquidity pools, on top of staking and saving your crypto.

On top of that, you can also open up lines of credit against your crypto, which is a highly innovative way of incentivising users to use Crypto.com as a wallet. 

The fact that crypto.com acts as an exchange and not just a wallet is a bonus, as it has some of the fastest processing times in the industry.

For example, it offers a diverse set of Terra Luna trading pairs and allows you to purchase Terra Luna using a variety of crypto and fiat currencies. For instance, this is ideal, as it simplifies the process of purchasing Terra Luna.

Crypto.com is also in the top 10 most liquid crypto exchanges in the world, which is great for users, as it is guaranteed that there will always be a buyer and a seller. Your Terra Luna orders can be met instantly. 

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

3. Coinbase – Most Simple Way of buying Terra Luna

Coinbase is possibly the best-known cryptocurrency Platform, available worldwide and widely respected for its ease of use, and popular layout, which is simplistic, and easy to understand and use. Buying Terra Luna is as plain-sailing as possible, with over 100 cryptocurrencies that Coinbase has to offer.

Coinbase has one of the safest wallets you can use since it holds 98% of its assets in offline cold storage. This means that it is pretty much unhackable, it cannot possibly be any safer.

This gives users peace of mind, knowing that their crypto is safe and secure. Coinbase as it stands is a great option for new users, who perhaps are paranoid about their crypto being hacked. 

Coinbase is great for beginners:

Moreover, Coinbase makes clever use of staking your cryptocurrency. The way they implement staking is (as everything is with Coinbase) simple and easy to use. Staking crypto by yourself can be a challenging task, however, Coinbase takes care of everything on your behalf.

This provides a passive stream of income that appears in your wallet. Importantly, the more crypto you hold, the more you can earn. Because you can stake as little as $1 which is a testament to Coinbase and its attitude that crypto is for everyone. 

In addition to being a wallet is also an exchange. Importantly, making it easy to buy and sell crypto. For simple buy and sell orders, for example, beginners will likely prefer the original Coinbase platform.

Coinbase Pro is preferable if you are a more experienced user of crypto and trade at a higher rate and more frequently than your average retail investor. The only detriment to Coinbase is its high fees, comparable to its competitors.

However, this can be viewed as negative if you want to purchase Terra Luna. Particularly with how competitive crypto platforms are, users may feel like the e-Toro Wallet is a more suitable place to acquire Terra Luna

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

4. Terra Station –  Terra Blockchain’s official wallet

Terra Station Wallet is the official wallet for the Terra Blockchain. Those who use Terra Station Wallet send and receive Terra’s native Luna Tokens at ease, with 0 fees. Additionally, managing staking activities with numerous validators is simplified.

A great feature that is synonymous with Terra Station Wallet is that it enables Luna holders to have the ability to vote on proposals. This had to do with Terra’s decentralised stablecoin (UST) however, after UST de-pegged from the USD, this no longer happens. Although transactions on testnets, and sending or receiving a variety of interoperable tokens can still take place.

If you’re just getting started with the Terra Station Wallet, you’ll appreciate the simple user interface provided by both the desktop app and the chrome extension. There is also a desktop file for PC and MacOS that you can download and install on your computer, as well as a mobile app.

5. MetaMask – Best Exchange for Decentralised Applications 

MetaMask is arguably the best software decentralised wallet available for those that want to buy an array of popular cryptocurrencies.

Meta Mask is desirable for its simplicity to use, and the fact it is also available on desktops and mobile phones. Meta Mask is particularly popular amongst NFT users, as it is one of the best Ethereum wallets.

 Informed crypto users will admire the effortless nature of MetaMask as well as the speed of transactions.

 There are some cons to MetaMask, which is that because it is a non-custodial wallet, you are entirely responsible for your private keys, which means that if you lose your secret recovery phrase, you may lose your crypto.

The Terra Luna blockchain network is not currently supported by the MetaMask wallet. 

As a result, you won’t be able to add pure Luna to MetaMask until the Terra blockchain is supported. Given that a Luna fork is in the works to create a new chain, this could take a while. 

The Terra Bridge, on the other hand, can be used to add Luna to MetaMask. You can use this to connect the Terra network to another blockchain.

6. Ledger Nano X – Cold Storage Crypto Wallet

The Ledger Nano X is one of the best ‘Cold’ Wallets you can get on the market. It’s an ideal wallet for managing cryptocurrency, this is due to its increased coin capacity and Bluetooth connectivity.

A hardware wallet, simply put, is a small device that stores your cryptocurrency’s private key. 

The reason this is extremely safe is that your wallet’s private key is never exposed outside of your device, implying that it’s always kept offline, which means it’s stored ‘cold’.

Therefore, even if you want to send money from the device, the transaction will be signed on the device itself, not on an external device, to which it is connected.

Furthermore, it uses a feature known as a ‘secure element.’ This basically means that your wallet is less susceptible to attempted hacks, it makes your Crypto essentially unhackable.

In addition, this also protects the private keys from malware. Which gives it a competitive advantage over other software wallets in terms of security. This makes it an attractive option to store your Terra Luna.

7. Trezor – Cold Storage For a Wide Range of Cryptocurrencies 

With united support on most blockchains out there. Trezor is a popular choice for a hardware wallet that is well designed and as secure as you could imagine.

Everything that Trezor does is to protect its user’s privacy. Importantly, they are committed to this thoroughly, and due to this, Trezor is a great option to store your Terra Luna. 

Trezor enables you to get the best experience out of the Terra blockchain, simultaneously keeping your tokens as secure as possible. 

If privacy, safety and security are your prerogative, you should ultimately consider the Trezor wallet.

If you are a seasoned cryptocurrency investor, and hold large amounts of Terra Luna, for example, you want your assets to be as safe as possible. As with Trezor, you are less liable to centralised exchanges and their potential shortcomings, as well as the fact that it’s almost impossible to hack.

8. ZenGO – Web3’s Most Secure Crypto Wallet

Terra Luna is supported by this wallet, which includes features such as buying, selling, and earning interest on their token

ZenGo additionally is a fantastic centre for educational purposes, particularly on Terra Luna as a token, but also the Terra blockchain.

Arguably Web3’s most secure cryptocurrency wallet, they utilise MPC technology, which means that they make a private key redundant.

Additionally, it is much safer than conventional crypto wallets. ZenGo’s simple recovery process allows anyone to access their cryptocurrency from anywhere, at any time. Thanks to ZenGo, they have made highly exclusive and expensive technology available to all of their customers, which is a bright aspect for those considering holding their Terra Luna on ZenGO’s wallet. 

ZenGo’s purpose is to enable the crypto community to have far more access and security by removing ‘red tape’ while ensuring the highest levels of safety are still guaranteed. 

The Top Terra Luna Wallets Compared

Choosing the best crypto wallet can be a difficult task. We have made things easier, by compiling a list of Terra Luna wallets, with fee structures and their top features.

What is a Terra Luna Wallet?

Simply, a Terra Luna wallet is a place in which you can store your Terra Luna. Moreover, either on a software wallet like eToro or a hardware wallet like Trezor. Furthermore, it is a place where you can easily access your crypto, and then decide where you would like to sell, hold, or buy it. Finally, it keeps track of your Terra Luna in a safe manner. 

Why you need a Terra Luna Wallet?

A Terra Luna app or wallet is required for every investor interested in purchasing Terra Luna. It is hard to buy Terra Luna unless you have a wallet because it is required. Because after the recent travesty when the algorithmic stablecoin of Terra Luna (UST) lost its peg of 1-1 with the USD. Terra Luna effectively went to $0 and lost over $50b. 

Due to this fall, Terra Luna ironically is still one of the most searched and sought-after crypto assets. As many casual investors have heard about what happened, and want to take a punt on the new version of Terra Luna (Luna 2.0) after reading LUNA price predictions.

This is why you need a Terra Luna Wallet. Because you may profit off the sheer intrigue into Terra Luna, and how its new version will respond. You can easily buy Luna 2.0 on eToro, for low fees and best-of-class safety.

How do Terra Luna Wallets Work?

Think of a Terra Luna wallet, in the same way, that you would think about a bank account. 

As a result, a private address is included in every single wallet and this Terra Luna wallet address may be used to send and receive money.

The Terra Luna network stores all of your Terra Luna, and anyone can see how much a particular wallet holds. However, this is completely private and none of the user’s information is disclosed, which is the entire meaning of blockchain technology, complete anonymity. 

There are “keys” in a Terra Luna wallet, as there are in all Crypto. Public and private keys are included with each wallet. The public key is just used, simply to create an address for the wallet.

However, the private key is arguably the most critical element of the wallet, as it ensures the safety and security of your Terra Luna.

 Any device can access a wallet using a private key, which is usually a 12 or 24-word sequence. This secret recovery phase is essential in case you forget your password. Therefore, it should be kept in a safe place and should never be lost.

There are numerous Terra Luna wallets available, but these two distinctions are the most critical to comprehend.

• Custodial Wallets – A wallet in which the private key is controlled by the provider (Coinbase, Crypto.com)
• Non-Custodial Wallets – A wallet in which the investor is in charge of the private key (eToro Money Crypto Wallet, Crypto.com DeFi wallet)

Types of Terra Luna Wallets

There will be three types of Terra Luna wallets: software wallets, hardware wallets, and paper wallets. 

Software Wallets

The term ‘software wallet’ refers to any Terra Luna wallet that can be downloaded or utilised over the internet.

However, within the ‘software’ wallet umbrella, there may be discrepancies.

For example, Terra Station and Coinbase, are both called software wallets, albeit one is self-custodial and the other is not. Therefore, consult our comparative table to see the exact differences between the wallets, and what is best for you.

Hardware Wallets 

Hardware wallets (also known as cold storage wallets) are non-custodial wallets because they require physical access.

 In order for your Terra Luna to be accessible, you must connect the physical wallet to a computer. Subsequently making hardware wallets by far the safest place to store your Terra Luna. 

The only negative is that they are also the most inconvenient. On the other hand, this is dependent on your list of preferences, when choosing a wallet. 

As a result, large fees usually go hand in hand with hardware wallets, because that is the associated cost you pay for that level of security and privacy. Subsequently, if you have a long-term view of holding your Terra Luna, then a hardware wallet like Trezor may be your best option.

Paper Wallets 

A paper Tera Luna wallet is literally a physical piece of paper and has your private and public keys written down on it, this is not commonly used anymore. The security depends on where the Terra Luna is actually stored, but the method of using a paper wallet is still a better option, as opposed to, for example, an easily accessible (hackable) file on your computer.

How to Choose Best Terra Luna Wallet for You

Security

Security, obviously, is the most critical element of any wallet, irrespective of whether your wallet is hot or cold. You want your hard-earned assets to be protected at all costs. 

Cold wallets offer the best security for your Terra Luna, this is because it is a physical device that also requires a password to access it. Importantly, you can still have access to your private keys via a non-custodial software wallet, the only negative with that is that you are essentially your bank, and the responsibility to keep your private keys safe, falls solely on your shoulders.

Custodial wallets are better if you are someone who frequently trades Crypto, custodial wallets may still be highly secure, however, it is crucial to do your due diligence on the exchange that you are dealing with and make sure that they are suitable to your needs regarding safety and security.

Supported Coins

A prerequisite for most Crypto investors is that the wallet you choose has a broad list of cryptocurrencies available, at least over 50, this is essential before choosing your wallet, and the wallet of your choice also has a sound list of cryptocurrencies to invest in. 

Fees

One of the most fundamental aspects of a wallet is that you want fees to be as low as possible. You do not want any ‘unexpected’ fees, and you want it to be that you can buy, sell and trade Crypto at a high frequency without fees getting in the way of that.

Be wary of transaction costs, Terra Luna wallets should allow investors to send their Crypto for the cost of the network, moreover, making it effective and efficient to transfer Terra Luna between wallets and exchanges.

Mobile Experience 

As with everything today, having an easy-to-use mobile interface is essential. Most Terra Luna wallets do indeed have a beautiful, simplistic and hassle-free mobile interface for buying and selling Crypto, for example, eToro. Make sure that the wallet you choose ticks all of the above-mentioned boxes, this will make your experience of trading/holding Terra Luna ideal.

How to Get a Terra Luna Wallet

We have assembled an easy-to-follow list of steps on how to get a Terra Luna wallet using eToro.

Step 1: Register with e-Toro

To buy Terra Luna using eToro, you must first set up an account. This can be done by going to the eToro website and filling out the registration form. Only a few basic details are required, and the procedure takes about 5 minutes to complete.

Step 2: Verify Account

eToro is a licensed and registered broker. Therefore when an eToro account has been created it will be validated. A photo ID and proof of address are the only necessities for this step.

Step 3: Deposit 

eToro accepts a variety of payment methods, like credit/debit cards, bank transfers, and electronic wallets (PayPal). To make a deposit go to ‘Deposit Funds’ and then select a payment option, furthermore, pick the amount to invest, and then click ‘Deposit.’ Funds usually arrive quickly, however, for first-time deposits, it may take longer than usual.

Step 4: Buy Terra Luna

Terra Luna can be purchased once the money has arrived in the account. Simply type ‘Luna’ into the eToro search bar (note: that with the recent debacle with Terra Luna, you may trade Luna Classic, or Luna2.0, which is the new version), hit ‘Trade’ now determine the amount of Terra Luna to buy and hit ‘Open Trade.’ Then a wallet holding the Terra Luna will be produced as soon as the purchase is completed.

Conclusion

Picking the perfect wallet for you is a very personal decision, and depends on you as a person, your risk tolerance, your expertise in cryptocurrency and many more permutations. In conclusion, it can be tricky to decide, however, after deep research and our best Terra Luna wallet review, there is one wallet that stands out above the rest, and that is eToro.

eToro is a registered broker that makes the process of trading Terra Luna as straightforward as possible. Therefore eToro caters to an array of investors, from beginners to seasoned professionals. To sum up, with their simplicity and easy-to-use interface and accessibility to all different profiles, eToro certainly is the best wallet for Terra Luna.

Cryptoassets are a highly volatile unregulated investment product. No UK or EU investor protection.

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