Welcome to this post, where we are going to see how you can buy UST to have it in your wallet and be able to use the different platforms of the Luna network.
We are going to see different ways you can get UST, so you can see which one is the most comfortable for you and so you can choose if any of the options doesn’t work for you.
What is UST Terra Network?
The first option and one of the most used is Terraswap, a Terra network swap very similar to uniswap or pancakeswap like other well known swaps from other networks.
To use terraswap and buy UST, you will need to have a terra wallet, connect your wallet to terraswap and have Luna in your wallet. If you are totally new, in the description I will leave you a video where you can see how to send Luna to your wallet from Binance, although it works the same way with any other Exchange to send your Luna to your wallet and be able to use it in platforms like terraswap.
With your wallet connected, and Luna in it, we will indicate above the Luna cryptocurrency, or if you want to use another one to buy UST, you can also indicate it above instead of luna. In fee, it is already defaulted with Luna, so we will pay the transaction fee with Luna, which as you will see is really low. Finally, below we indicate UST. We indicate the amount of Luna we want to exchange for UST, and below you will see all the information, such as commissions and the minimum that you will receive from UST.
Click on swap, confirm your wallet by entering your password and that’s it. Now you can open your wallet and see the USTs you have just bought and exchanged for Luna.
With a very similar operation, we have terra station. Which we saw in another video how it works, and you may use it for staking your Luna. There is also a swap option inside terra station.
We click on swap, select Luna or the cryptocurrency you want to use to buy UST and on the other side UST. Enter the amount of Luna, and you will see the commission and the expected price you will receive. Click next, here you will see again the information with the commission you pay in Luna for the transaction, enter the password and you will have UST in your wallet. You can go to wallet to check that you really have the USTs and they have been exchanged for LUNA.
Finally, there are also two other really good options to buy UST. For the moment, we have seen how to buy UST with your wallet, but you can also buy this cryptocurrency with centralized exchanges. Binance has not listed UST yet, but there are other exchanges such as gate.io and KuCoin where you can also get UST, and then if you want to withdraw it to your wallet directly, or keep it inside the Exchange.
If you don’t have an account with either of the two exchanges, I’ll leave you a link so you can create an account with gate.io and KuCoin. Both exchanges work really well.
As the centralized exchanges are almost all very similar, let’s see how you can buy UST in gate.io, and if you want to use KuCoin you can also follow the steps because it works in a very similar way.
With funds in any of the two exchanges, go to my funds, search for usdt or tether and click on trade.
You will see the panel to buy and sell cryptocurrencies, here, search for UST, and you will see the UST/usdt pair. We go down and indicate the amount we want to buy UST. Here, if you want to use all your usdt, just click on the number above and the total will be placed. At the top of Price you will see the current price of the cryptocurrency. With the amount indicated, just click on the buy button.
Now, you will be the owner of UST, and to check it, you can go again to my funds to see the amount you have. Once you want to sell it, we must go back to the same panel above, but this time we will go to the red sell button. We indicate the amount we want to sell, and click on sell. This way, you can have USDT again if you want. You can also withdraw them to your wallet for more security and be able to use the USTs in the terra ecosystem, staking with them in platforms like Anchor Protocol, which you can find a video in my channel of how it works.
I hope this video has helped you to know how to buy USTs in different ways, and some of them will work for you. Below, you will be able to find all the links you need.