Buy Terra in Canada

Terra made simple

Everything you need to know about Terra and how to start investing in it.

Current Price

$0.00 CAD

-$0.00 (-9.35%) past 24 hours

Market Cap
Circulating Supply
Total Supply
24h low - high range
0.0002110172 - 0.0002851764
7 day low - high range
0.00003440151 - 25.43

Terra 101

Terra is a blockchain running on the Cosmos ecosystem that powers a network of decentralized stablecoins — crypto assets pegged to fiat currency that allow people to hold and use crypto without worrying about the volatility. The network’s most popular offering is TerraUSD (UST), a stablecoin pegged to the value of the U.S. dollar. Others include pegs to the South Korean Won, Mongolia’s national currency, and a basket of currencies maintained by the IMF called Special Drawing Rights.

Each of Terra’s stablecoins operate on a two-tiered system known as a seigniorage model. LUNA, however, is not a stablecoin. It’s Terra’s native token, and it is volatile and beholden to market forces, just like Bitcoin or Ethereum. LUNA’s purpose is essential: traders can swap it for a stablecoin within the Terra ecosystem to keep the price of that coin in check. Using the example of UST, the idea is that if you can buy UST for less than a dollar’s worth of LUNA, arbitrageurs will buy UST with LUNA in such sufficient quantities that the price of UST will rise to $1. If UST is worth more than a dollar, traders will sell it for a dollar’s worth of LUNA. Again, if arbitrageurs do this often enough, the price of UST should sink to $1.

This process contracts and expands the supply of UST and LUNA tokens – the protocol burns and mints them as arbitrageurs buy and sell. Arbitrageurs are incentivized to do this because they can make money from these tiny profits, if they’re quick enough to take advantage of price differences.

Using a volatile currency to keep the price of a stablecoin in check is one of the hallmarks of decentralized stablecoins. Although its whitepaper claims that its elastic supply should be able to handle crashes, it’s difficult to gauge what will happen if, for instance, arbitrageurs lose interest in LUNA and have no motivation to increase UST to $1. If that situation, the prices of both coins could fall into a death spiral.

So far, however, LUNA and UST remain resilient. LUNA roared in 2021 while UST consistently remained pegged to the U.S. dollar.

Why Wealthsimple Crypto?

Wealthsimple Crypto lets you buy and sell cryptocurrencies all in one easy-to-use app. And as Canada’s first regulated crypto platform, you can trust that your coins are in good hands. How simple is it?

  • Sign up in minutes right from your phone or laptop

  • Start trading crypto with as little as $1

  • No account minimums

  • No clunky dashboards — just one super simple app

  • Best of all: you don’t need to be an expert in crypto or blockchain to get started

Get started with Crypto

What can you do with Terra?

LUNA is a governance token, which means coin holders can vote to alter the parameters that define the Terra protocol. You can also stake tokens to the Terra network as a validator, earning rewards by enabling the validation of new transactions.

You can trade LUNA on centralized exchanges, or on Cosmos-based decentralized exchanges like Osmosis. You can also arbitrage LUNA for UST – to profit by taking advantage of discrepancies in Terra stablecoin pegs, as we mentioned above. Given the speed at which these arbitrage trades take place, the most efficient way to profit from them is through a trading bot. These are relatively difficult to set up, but some third-party tools, like Hummingbot, make it easier to interface with the Terra protocol.

Is Terra a smart investment?

Crypto carries risks — but generally speaking, our advice (regardless of whether you’re investing in Terra or stocks) is: never invest what you can’t afford to lose. The smartest way to grow your money long term is with a diversified, low-cost portfolio that tracks the market.

How we keep your Terra safe

As Canada’s first regulated crypto trading platform, we’re required to meet certain requirements — like using only qualified custodians (like Gemini Trust Company LLC and Coinbase Custody) for cold storage.

FYI: Wealthsimple Crypto is not an exchange itself. Instead, we work with multiple exchanges to give you the best Terra prices.

And to make sure your coins are extra protected, we’ve partnered with Coincover for an extra layer of security.

If you’re holding crypto outside of Wealthsimple, that’s no problem. You can safely transfer your Terra to your Wealthsimple account in just a few taps.

Ready to get started?

Download the Wealthsimple Trade app, create your account, and start trading Terra with just $1. It’s that simple.

By clicking “Get started”, you agree to Wealthsimple’s Terms of Use and Privacy Policy.


LUNA is a token that helps stablecoins on the Terra ecosystem maintain their peg to major world currencies, such as the South Korean Won and, most prominently, the US dollar. Traders buy and sell LUNA for these stablecoins to take advantage of minor discrepancies in the prices of these stablecoins; the upwards or downwards pressure on the coins ensures that the stablecoins maintain their peg. Since its launch in 2018, this system has proven remarkably resilient; in 2021, LUNA’s price blew up and Terra’s US dollar stablecoin overtook the second most popular algorithmic stablecoin, DAI, in market capitalization.

These stablecoins are useful for traders who want to hedge against currency volatility. Although it’s possible to sell a volatile cryptocurrency for a stable fiat currency – real money, like the US or Canadian dollars – leaving the crypto ecosystem is slow and potentially expensive. And, unlike algorithmic stablecoins, you can’t pledge real money into decentralized finance platforms to earn returns on your investments.

The Terra protocol constantly alters the supply of LUNA to ensure that the price of the stablecoins within its network remain pegged to their associated currencies. Accordingly, when demand for UST, Terra’s most popular stablecoin, rises, the Terra protocol burns LUNA. This means that if Terra stablecoins continue to rise in popularity, Terra’s supply will decrease over time, potentially making LUNA a deflationary currency. As of March 1, 2022, there are 375 million LUNA tokens in circulation.

You can spend LUNA within the Cosmos ecosystem – Terra is based on its framework, and other Cosmos appchains, like decentralized exchange Osmosis and TerraSwap, support it. Otherwise, you can always trade LUNA on centralized exchanges.

Lots of arbitrageurs try and take advantage of price differences between LUNA and the suite of stablecoins within the Terra ecosystem, most notably US dollar algorithmic stablecoin UST.

You can also stake LUNA as a validator to earn staking rewards, or make use of its governance token functionality; by pledging LUNA within Terra’s governance modules, you can influence the future of the protocol by voting on updates to the parameters that define the Terra ecosystem.

Yep! When you open a Wealthsimple Crypto account, you can get started with anywhere from $1 to $1,500 instantly.

Generally speaking, the CRA treats cryptocurrencies as a commodity. Here’s what they say:

Any income from transactions involving cryptocurrency is generally treated as business income or as a capital gain, depending on the circumstances. Similarly, if earnings qualify as business income or as a capital gain then any losses are treated as business losses or capital losses.

Always keep solid records of any Terra transactions. If you use Wealthsimple Crypto to buy or sell cryptocurrencies, we’ll generate some of those tax documents for you.

Terra’s current market cap is 1,687,812,013.

The current price for Terra in Canadian dollars is $0.00.

Buying Terra with Wealthsimple is, well, simple. The first thing you need to do is open and fund a Crypto account in the Wealthsimple Trade app. You can connect your bank account and add up to $1,500 instantly.

From there, follow these steps: 1. Tap the magnifying glass icon in the top right corner of your screen 2. Type in Terra 3. Tap Buy 4. Enter the dollar value of cryptocurrency you'd like to buy and tap Continue 5. Review the order details and tap Confirm order

You can choose between two different order types when buying Terra. A market order lets you buy or sell crypto immediately at the best available price at the time. A limit order lets you buy or sell crypto at a specific price or better.

You can withdraw funds from the cash balance in your Crypto account and move those funds to your bank account. Withdrawals typically take around 2 - 3 business days.

A crypto wallet — often called a “hot wallet” — is a location for holding crypto “on-chain” (i.e. linked to the blockchain versus off-chain cold storage.) Many users use wallet applications to help them manage their blockchain addresses, since each chain uses its own addresses.