Quick guide on how to deposit funds into @terra_money
A thread ๐งต
A thread ๐งต
1. Create a Terra Station wallet. A step by step guide to how you can download and create your own wallet can be found here:
#create-a-wallet" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.terra.money
#create-a-wallet" target="_blank" rel="noopener" onclick="event.stopPropagation()">docs.terra.money
2. Use any Centralised Exchange to transfer fiat currency into the Terra Blockchain. Personally I use my personal Bank to wire money into @FTX_Official, swap USD to USDT to transfer to @kucoincom in the withdrawal tab
2.1 Using the TRX network on FTX to transfer your USDT will incur 0 fees! Also be reminded to carefully choose the right wallet address on the correct network for transfers or you may risk losing your funds
3. Use @kucoincom to swap your USDT to $UST.
4. Withdraw your $UST from Kucoin to your terra station wallet address. You will incur a fee of 4 UST but this is still cheaper than using $LUNA (fee of 0.1 $LUNA)
5. There you have it! You are ready to benefit from world class protocols on @terra_money. Some of the protocols I am extremely bullish on are:
@astroport_fi
@WhiteWhaleTerra
@staderlabs
@NexusProtocol
@pylon_protocol
@mars_protocol
@prism_protocol
@astroport_fi
@WhiteWhaleTerra
@staderlabs
@NexusProtocol
@pylon_protocol
@mars_protocol
@prism_protocol
Will do a breakdown on all of them in the near future. Stay tune!
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