It is a new month, and we are yet again discussing cryptocurrency innovations such as Terra blockchain, a new technology that is bringing blockchain innovation to the masses.
Before we go into much detail, let’s first understand what “Terra” means. This is a blockchain technology founded in 2018 by Daniel Shin and Do Kwon. Their main goal was to come up with a financial ecosystem that enabled the development of different stablecoins with LUNA as the native asset and governance token.
There is a lot of interest and excitement surrounding Terra. Hence, many investors are planning to stake their digital assets on the Terra blockchain. For easier holding, a LUNA wallet is required. How are you going to get this?
To answer this question, here is a step-by-step guide on how to open a LUNA wallet on the Terra blockchain.
What Is the Terra Blockchain?
This is a decentralized program created to help develop the financial ecosystem of cryptocurrency. The program consists of various applications that act as building blocks, hence providing the best financial support. With its decentralized nature, LUNA investors receive their intended investments without the involvement of a third party.
How to Open a LUNA Wallet on the Terra Blockchain
Are you still wondering how to open a LUNA wallet on the Terra blockchain? Here are the steps to follow.
Download Terra Station – A Terra Station is a decentralized application created to act as a hot wallet, meaning it is always connected to the internet. You can access Terra Station by either downloading it as an app or by using a computer or mobile device. It is just a few steps that should not take much of your time to open a LUNA wallet on the Terra blockchain. For more information, you can try these out to discover a simple way to have a Terra Station on your mobile device.
Open Terra Station – After downloading the app, you are now ready to open Terra Station and click on the connection point that is on top of the screen.
Click “New Wallet” – This will enable you to open a LUNA wallet on the Terra blockchain by creating a new wallet.
Submit your personal information – One of the processes for opening a new wallet is submitting information such as your name, the name of the wallet, your contacts, email address, and password. Take note of the seed phrase. This will help recover your wallet in case you lose your password. You can write it down and store it in a safe place for easier accessibility when needed.
Log in to your wallet – The steps for how to open a LUNA wallet on the Terra blockchain are simple. You can now log in to your wallet, which will display your username and Terra address. You will use this address to send and receive LUNA coins.
Tips to Stay Safe When You Open a LUNA Wallet on the Terra Blockchain
There are various tips to keep in mind that will help secure your wallet. They include the following.
Never give your details to anyone – This is where you will be storing your digital assets. Therefore, you should not give your details such as your password or seed phrase to anyone.
Work with sites that are recognized – Do your research to find the most qualified platforms to work with. It is not uncommon for a crypto site to be hacked. Therefore, read reviews and watch videos to ensure you are working with a safe platform.
Take advantage of cold wallets – The advantage of cold wallets is that they are not connected to the internet. So, your assets are not vulnerable to online hackers.
How to open a LUNA wallet on the Terra blockchain is an easy step that anyone can follow. For more information, you can read the above article for a simple guide on how you can successfully open a wallet and be the next LUNA investor.