In this article I will explain step by step how to sell Luna Classic (LUNC) on Crypto.com. It does not matter if you want to convert to fiat, stablecoins, or reinvest in other cryptocurrencies.
This guide will enhance your understanding on how to sell, in the easiest and safest way possible. This will help in providing you with a hassle free experience selling your tokens.
Briefly Explain Luna Classic (LUNC)
Luna Classic (LUNC) was the primary token on Terra blockchain and was operational until May 2022 when the algorithmic stablecoin, UST, was decentralized, and it collapsed. After the incident, the Terra community transformed the original chain into Terra Classic and LUNC isunchanged as the cryptocurrency representing the new chain.
LUNC, which was severely devalued, is still actively traded due to the support from the community which advocates for the recovery of the currency by encouraging burning, staking, and other governance proposals. Majority of investors deal in LUNC for the sake of speculation. This is because LUNC is still one of the most highly discussed coins in the cryptocurrency market.
How To Sell luna Classic on Crypto com
Example: How To Sell Luna Classic on Crypto.com
Suppose you have some Luna Classic (LUNC) stored in your Crypto.com App wallet and you want to exchange it with USDT or fiat. Here’s how you can do it.
Step 1: Open your Crypto.com App.
Log in to your account with your credentials and check that you have 2FA security on.
Step 2: Access Your Crypto Wallet.
On the home screen, click on Accounts → Crypto Wallet and find Luna Classic (LUNC).
Step 3: Click on the ‘Sell’ Widget.
Click on Trade → Sell → LUNC and choose the amount of LUNC that you would like to sell.
Step 4: What Would You Like to Receive in Exchange?
Choose whether you want to sell LUNC for USDT, USDC or fiat (depending on your country).
Step 5: Check and Proceed.
Make sure the transaction details, exchange rate and fees, are correct and press Confirm Sell to finalize the transaction.
Step 6: Withdraw or Utilize.
The sold amount will instantly appear in your wallet and can either be withdrawn directly to your bank (if in fiat) or be kept in stablecoins for trading purposes.
Withdrawing The Proceeds
How to transfer the sold funds to your bank account
In the Crypto.com application, sell Luna Classic and select fiat withdrawal. Input the bank details, and within 1 to 3 business days, the money will be in your account.
Alternative: Keep in USDT/USDC for further trading
The funds can also be kept in the stablecoins USDT and USDC, which enables quick reinvestment, trading of other cryptocurrencies, or protection from market fluctuation.
Fees & Limits for Selling LUNC on Crypto.com
Overview of Breach of Contract Claim Trading fees on Crypto.com last for a month and the amount charged is determined on a sliding scale however typically rest between 0.075% and 0.4%. Discounted fees are charged if users stake CRO tokens and users are subject different fees on the app as compared to the exchange based on their 30-day trading volume.
Minimum and Maximum Selling Limits Selling limits are determined by the value each unit of trade is expected to reach. Verification level, geography, and type of transaction (fiat vs crypto both ways) determines the upper ceiling.
Safety Tips for Selling Luna Classic
1. Enable 2FA for added security
Whenever possible, always turn on two-factor authentication (2FA) on your Crypto.com Account. It is an added advantage on stronghold and more safety, and aids in ensuring that nobody else apart from you is allowed to give approvals for certain transactions.
2. Double-check transaction details before confirming
Before finalizing your LUNC sale, the amount, price, and currency chosen should be checked and verified very closely. After confirming, all transactions should be crossed to make sure they can’t be undone, reversing transactions is is the surest way of loosing and wasting money.
3. Be aware of price volatility
Luna Classic is a cryptocurrency that is considerably agile and breaks in price. Be careful of the market indicators before you sell since that would be the most beneficial selling point because selling below the price trends could be of loss.
Is it safe to sell Luna Classic on Crypto.com?
Yes, Crypto.com is among the top regulated exchanges, focusing on security and compliance with international regulations. It provides users with the most modern security solutions, including cold storage, privacy protection through encryption, and insured funds.
That said, safety is a shared responsibility. To reduce the likelihood of unauthorized transactions, it is advisable to activate two-factor authentication (2FA).
Moreover, 2FA is a useful security measure, but it is just the beginning. Be sure to verify all the parameters of a transaction, including the number of Luna Classic (LUNC) and the currency to be sold before pressing the confirmation button. Following those suggestions fosters a great and safe selling process.
Pros and Cons of Selling Luna Classic on Crypto.com
| Pros | Cons |
|---|---|
| User-Friendly App – The Crypto.com app makes selling LUNC quick and simple, even for beginners. | Trading Fees – Fees range from 0.075% to 0.4%, which may be higher compared to some exchanges. |
| Multiple Options – You can sell LUNC for fiat, USDT, or USDC, giving flexibility in how you use your funds. | Withdrawal Delays – Bank transfers may take 1–3 business days to complete. |
| Strong Security – Regulated exchange with 2FA, encryption, and insurance protection for funds. | Regional Restrictions – Some fiat withdrawal methods may not be available in every country. |
| Access to Advanced Trading – Users can also sell via the Crypto.com Exchange with limit and market orders. | Volatility Risk – LUNC prices can change quickly, possibly leading to lower returns if not timed well. |
Conclusion
Finally, Selling Luna Classic (LUNC) on Crypto.com is as easy as they come as long as your account is set up, the funds are in your wallet, and account verification is done. Crypto.com users appreciate the ability to convert the lunas to either stable coins or fiat currency.
Like always, don’t forget to do your due diligence, check the fees, and confirm transaction details. To have a productive selling experience, you must cautiously take account selling at the time.
FAQ
Can I sell Luna Classic for cash on Crypto.com?
Yes, you can convert LUNC into fiat or stablecoins like USDT/USDC.
Do I need verification to sell LUNC?
Yes, KYC verification is required.
How long does withdrawal take?
Bank withdrawals usually take 1–3 business days.
