Best Terra Luna Wallets for 2024

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 2024.

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.

1. Ellipal – An air-gapped hardware wallet that’s CC EAL 5+ certified
2. Ledger Nano X – Cold Storage Crypto Wallet
3. ByBit Wallet – User-friendly custodial wallet that enables various trading options
4. Binance Wallet – Multi-party computation Web 3 wallet with integrated dApps
5. ZenGo – The most secure crypto wallet in web3
6. Best Wallet – New Web3 wallet offers market insights to users and connects users with thousands of crypto tokens through its decentralized exchanges. 
7. Trezor – Best wallet to store your crypto offline
8. Terra Station – Terra Blockchain’s official wallet

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.Ellipal – An air-gapped hardware wallet that’s CC EAL 5 certified

What is the best Luna wallet? In our opinion, this title goes to Ellipal Titan. Namely, this hardware wallet is simple to use, it supports multiple accounts and is compatible with both iOS and Android operating systems. Moreover, Ellipal Titan has an air-gapped design, which means that it uses QR codes to conduct transactions. This makes it more secure than traditional hardware wallets.

Ellipal Titan supports 10,000+ crypto tokens and 40 blockchains, in addition to Terra Luna, and it can be connected to dApps. When it comes to security, this wallet uses dual-layer defense and anti-tampering and anti-disassembly features. It’s also one of the few crypto wallets that’s CC EAL 5+ certified.

Another thing that makes this wallet stand out is its design. On that note, it comes with a large 4.0-inch display, an in-built camera, and a 1400 mAh battery that lasts more than 140 hours. What’s more, its trade and swap features come with zero fees, and its users will be able to stake their Luna tokens for free.

2. 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.

3. ByBit Wallet – User-friendly custodial wallet that enables various trading options

If you are looking for a good custodial crypto wallet for Luna, you should give Bybit Wallet a go. This multi-signature cold wallet enables its users to access DeFi, GameFi, and NFT networks via its integrated dApp aggregator. It’s also suitable for beginners since it utilizes customizable tools and charts. 

Furthermore, Bybit uses a dual wallet system. This means that the funds of its users will be stored in both hot and cold wallets.

ByBit Wallet supports 100+ cryptocurrencies and 65+ fiat currencies. Its other notable features include airdrop management, cross-chain compatibility, and decentralized identity management. In short, Bybit Wallet is ideal for traders who are looking for diverse trading options, from derivatives and options to spot trading. They’ll also be able to use this wallet for staking.

Bybit Wallet also has an intuitive interface, and it offers 24/7 customer support. And finally, this wallet has one of the lowest Terra Luna fees ranging between 0.1 and 1%.

4. Binance Wallet – Multi-party computation Web 3 wallet with integrated dApps

Binance Web3 is a self-custody Luna crypto wallet located inside the Binance app. Users can use this wallet to manage their tokens, execute swaps across 36 blockchains, and earn yields.

This is also a multi-party computation wallet, which means that its secret keys will be divided between multiple parties. This will reduce hacking risks. On top of that, Binance Wallet has built-in risk controls, i.e., its users will receive alerts if a security breach occurs.

Setting up a Binance Web3 Wallet is straightforward. Users will only have to download the Binance app, log into their account, and tap the Create Wallet button.

Moreover, this wallet has an emergency export option that allows its users to take full control over their wallets. Once they activate this option, they’ll be able to retrieve their private keys. They’ll also get to back up their wallet via QR codes.

Binance Wallet users will be able to buy Terra Luna with debit and credit cards and Google and Apple Pay.

5. 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. 

6.Best Wallet – Overall Best Terra Luna Wallet, Access Trading Insights, Staking Benefits, and a Decentralized Exchange 

The best Terra Luna wallet to use in 2024 is Best Wallet. This new cryptocurrency wallet offers cross-chain interoperability and gives users access to their private keys. 

Users can store all their tokens and wallets with Best Wallet, and trade thousands of tokens on the Ethereum, BSC, and Polygon mainnet. 

Unlike other crypto wallets, Best Wallet supports an array of features that will help you with your investment strategies. Best Wallet monitors market movements to keep users updated on recent updates within the crypto space. On the Best Wallet home, you can access information related to new presale listings, token airdrops, and market information. 

Through the Best decentralized exchange, users can access low-cost trades by getting connected to the best liquidity pools. The DEX can be accessed without any registration. Furthermore, users can buy $BEST, the native token, to get discounts on the Best DEX. 

The token is also used to access advanced analytics tools and feeless swaps. The Best Wallet whitepaper states that this wallet will soon implement a staking mechanism to offer staking rewards to $BEST token holders. Staked token holders can also vote on new projects and get zero gas fee trades. 

The platform will also run a $BEST token airdrop to reward loyal Best Wallet and DEX users with free tokens. 

By phase 5 of the roadmap layout, Best Wallet will introduce NFT galleries – allowing members to collect, buy, and sell their NFTs on the crypto wallet. Best Wallet also uses advanced cryptographic security measures such as two-factor authentication (2FA) and fingerprint algorithms to protect client’s funds. 

The Best Wallet app can be downloaded through the App Store or the Google Play Store. Best Wallet will soon be compatible with desktop devices. Stay updated with this wallet by joining the Best Wallet Telegram channel and the Discord channel.

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. 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.

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 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. 

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 (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. 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 Best Wallet.

Step 1: Get the Best Wallet App

To get started, download the Best Wallet app via iOS or Android. Best Wallet will soon be compatible with desktop devices. Visit the app on the Google or App Store, and click ‘Download.’

Step 2: Register a New Account 

After downloading the app, you can login to Best Wallet in one of the following ways:

• Type in your email address
• Select the ‘Continue with Google/Apple’ button 

Step 3: Complete Security Protocols 

After creating a new account, all users must enter a unique four-digit passcode/PIN. This will be used to enter the wallet app. 

Furthermore, Best Wallet allows users to complete a two-factor authentication (2FA) process to add an extra layer of security to the platform. Every time you log in, Best Wallet sends a six-digit code. 

Step 4: Browse Best Wallet Features

After completing the security protocols, users can access the different features of Best Wallet. You can connect your crypto wallets, trade assets, and access the Best DEX. 

Features such as the NFT wallet, trading insights and the staking contract will soon be available on Best Wallet. 

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 Best Wallet.

The Best Wallet platform lets you connect all your crypto wallets under the same roof. Furthermore, users can access a decentralized exchange, get trading discounts with the $BEST token, and also access a staking mechanism. 

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

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