UST

Cryptocurrency Overview

TerraUSD (UST) was a stablecoin designed to maintain a 1:1 peg to the US dollar. Unlike traditional stablecoins backed by reserves, UST relied on an algorithmic mechanism involving its sister cryptocurrency, Luna. When demand for UST increased, Luna was burned to mint more UST, and vice versa. This system aimed to provide stability without the need for centralized collateral. However, in May 2022, UST lost its peg, leading to a collapse in both UST and Luna's value. This event shook the cryptocurrency market and raised concerns about the sustainability of algorithmic stablecoins.

Introduction to cryptocurrency exchanges

TerraUSD (UST) was previously available on various exchanges, including Binance, KuCoin, and Kraken. However, following its collapse in May 2022, many exchanges delisted UST. It's crucial to check the latest listings as the availability of UST may vary across platforms.

Mobile trading app for buying cryptocurrencies

TerraUSD is a stablecoin that aims to maintain a 1:1 peg with the US dollar. It is an attractive option for investors looking to store their wealth in a stable digital asset. The TerraUSD mobile trading app provides a user-friendly platform for buying and selling this cryptocurrency. With its intuitive interface and real-time market data, the app makes it easy for both experienced and novice crypto investors to participate in the TerraUSD market. Whether you're looking to diversify your portfolio or simply hold a stable digital asset, the TerraUSD mobile app is a convenient and secure way to manage your crypto investments on the go.

Why it's the best token

TerraUSD (UST) was designed to be a stablecoin, offering the stability of the US dollar with the benefits of blockchain technology. However, due to its collapse in May 2022, it can no longer be considered a good or reliable investment. It's important to exercise caution and avoid investing in UST.

Token address

TerraUSD (UST) existed on multiple blockchains, each with its own token address:

• Ethereum: 0xa47c8bf37f92abed4a126bda807a7b7498661ac0
• Binance Smart Chain: 0x156ab3346823b651294766e23e6cf87254d68962

Token transfer

Transferring original TerraUSD (UST) tokens is no longer possible due to the collapse of the Terra ecosystem. Any remaining tokens on the old blockchain hold no value. It's important to exercise caution and avoid any platforms or individuals claiming to facilitate UST transfers, as they are likely scams.

Introduction to cryptocurrency ATMs

TerraUSD, the stable cryptocurrency, is supported by a network of ATMs that allow users to easily withdraw cash. These ATMs provide a seamless and secure way to convert your TerraUSD holdings into fiat currency, making it a convenient option for everyday transactions and cash needs.

Cryptocurrency wallets

The TerraUSD cryptocurrency is supported by a variety of digital wallets, offering users flexibility and security when managing their digital assets. These wallets range from hot wallets, which provide easy access for day-to-day transactions, to cold wallets, which offer offline storage for enhanced security.

The TerraUSD hot wallet options include mobile apps and browser-based platforms, allowing users to easily buy, sell, and transfer their TerraUSD holdings directly from their smartphones or computers. These wallets often feature intuitive user interfaces and real-time market data, making it simple to monitor the value of your TerraUSD investments.

For users seeking a higher level of protection, TerraUSD also supports a variety of cold wallet solutions, such as hardware wallets and paper wallets. These offline storage options are ideal for long-term TerraUSD holders, as they significantly reduce the risk of hacking or unauthorized access. Cold wallets require an extra step to access your funds, but this added layer of security can provide greater peace of mind for those looking to safeguard their TerraUSD investments.

Regardless of your preferred storage method, the TerraUSD ecosystem offers a diverse range of wallet options to cater to the needs of both casual and sophisticated cryptocurrency users. By providing this flexibility, TerraUSD aims to make it easier for individuals to securely manage their digital assets and participate in the growing cryptocurrency market.

Cryptocurrency trading market charts

Market cap/value of the currency

TerraUSD (UST) currently has a market capitalization of approximately $105 million, with each token valued at around $0.0188. However, it's important to note that this value is highly volatile and does not reflect the original purpose of UST as a stablecoin pegged to the US dollar.

Earning free cryptocurrencies/airdrops

Due to the collapse of the Terra ecosystem and the de-pegging of TerraUSD (UST), there are no longer any legitimate ways to earn or receive free UST tokens. Any platforms or projects claiming to offer such opportunities are likely scams and should be avoided.

Previous Methods (No Longer Valid):

• Staking: Before the collapse, users could stake UST on platforms like Anchor Protocol to earn rewards.
• Yield Farming: UST was used in various decentralized finance (DeFi) protocols for yield farming, where users could earn rewards by providing liquidity.
• Airdrops: Some projects within the Terra ecosystem occasionally distributed UST tokens to users as part of promotional campaigns.

Important Considerations:

• Risk: The cryptocurrency market is highly volatile, and investing in any cryptocurrency carries a significant risk of loss.
• Research: Always conduct thorough research before investing in any cryptocurrency or participating in any project.
• Security: Be cautious of scams and phishing attempts. Never share your private keys or personal information with anyone.

It's crucial to focus on reputable and established cryptocurrencies with a proven track record of stability and security. Avoid any projects or platforms associated with the collapsed Terra ecosystem, as they are likely to be scams or unreliable.

Cryptocurrency taxation

TerraUSD (UST), despite its collapse, is still subject to taxes when traded on cryptocurrency exchanges. The specific tax implications depend on your country of residence and the type of transaction:

Capital Gains Tax:

• Selling UST: If you sell UST for a profit, you'll likely incur a capital gains tax on the difference between your purchase price and selling price.
• Trading UST for other cryptocurrencies: Swapping UST for another cryptocurrency is considered a taxable event, even if you don't cash out to fiat currency.
• Spending UST: Using UST to purchase goods or services is also a taxable event, with the gain or loss calculated based on the UST's value at the time of the transaction.

Income Tax:

• Receiving UST as income: If you receive UST as payment for goods or services, it's considered income and is subject to income tax.

Important Considerations:

• Record Keeping: It's crucial to keep detailed records of all your UST transactions, including dates, amounts, and values, to accurately calculate your tax liability.
• Tax Laws: Tax laws regarding cryptocurrencies vary significantly across countries. Consult a tax professional or use crypto tax software to ensure compliance.
• Losses: If you incurred losses from your UST holdings due to the collapse, you might be able to offset those losses against other capital gains to reduce your tax burden.

Cryptocurrency security

TerraUSD offers strong security features, utilizing blockchain technology to enhance transparency and protect transactions. With its decentralized nature, it minimizes the risk of fraud and hacking. Additionally, users can enhance their security by choosing reliable wallets, enabling two-factor authentication, and keeping their private keys safe. These measures help ensure the safety of your TerraUSD investments.

Currency login

To log in to your TerraUSD wallet, start by downloading a trusted wallet app that supports TerraUSD. Open the app and select “Create Account” or “Log In” if you already have an account. Enter your credentials or use biometric options like fingerprint or face recognition for quick access. Always ensure youre using a secure internet connection and never share your private keys for safety.

Supported Payment Methods for Purchasing

TerraUSD supports various payment methods for purchasing the cryptocurrency, ensuring convenience for users. Common options include bank transfers, which allow for direct deposits and are often used for larger transactions. Credit and debit cards are also widely accepted, enabling instant purchases of TerraUSD. Some exchanges may offer mobile payment options like Apple Pay and Google Pay for quick, on-the-go transactions. Additionally, peer-to-peer platforms allow users to buy TerraUSD using cash or other cryptocurrencies. This diverse range of payment methods ensures that everyone can easily access TerraUSD.

Online purchase of USD/USDT

To buy TerraUSD online with USD or USDT, start by choosing a reputable cryptocurrency exchange that supports these transactions. Create an account, complete any required verification, and deposit your funds. Navigate to the trading section, select TerraUSD, and place your order. Confirm the details and finalize your purchase to securely acquire TerraUSD.

Buying cryptocurrency with a bank credit card

Buying cryptocurrency like TerraUSD with a bank credit card is a straightforward process. First, select a reputable cryptocurrency exchange that accepts credit card payments. After creating an account and completing the necessary verification, navigate to the buy section. Choose TerraUSD and enter the amount you wish to purchase.

When prompted, select the credit card payment option, then enter your card details. Review the transaction fees and ensure you understand the total cost before confirming the purchase. Once completed, the TerraUSD will be credited to your account, allowing you to store or trade it as desired. Always ensure your financial information is secured and use trusted platforms for your transactions.

Purchasing at ATM machines

To buy TerraUSD at an ATM, first, find a Bitcoin ATM that supports cryptocurrency purchases. Use a mobile app or website to locate one near you. Once at the ATM, select the option to buy cryptocurrency and choose TerraUSD if available.

Buying with loans/financing

To borrow or loan TerraUSD, use a reputable cryptocurrency lending platform. First, create an account and complete any verification processes. You can either lend your TerraUSD to earn interest or borrow against your existing crypto assets as collateral. Choose the amount and terms you prefer, and review the interest rates before finalizing the transaction. Always understand the risks involved and ensure the platform you choose is secure.

About support for monthly payments of tokens

To purchase TerraUSD with a monthly payment plan, find a cryptocurrency exchange or platform that offers installment options. After creating an account, choose TerraUSD and set your desired purchase amount. Select the monthly payment option, specify the payment duration, and provide your payment method. This allows you to gradually acquire TerraUSD over time while managing your budget effectively. Always review terms and fees before committing to a plan.