Terra Casino Guide Best LUNA Casinos of 2023

Among all Terra bonuses you can get the most free spins with Fairspin‘s first deposit bonus:

• 100 % up to 100000 € + 30 free spins, Wagering: 25x (on bonus), Free spins: 25x

I only list casinos which allow you to play with Terra. Some Terra casinos will convert it to their internal currency when you make a deposit and then turn it back to LUNA at withdrawal. But in such a case, the casino does this for all currencies and not just for LUNA; it’s just the way they operate.

That being said, you can play almost all games with Terra, just as you would with Bitcoin. Some game providers have certain restrictions in regards to which coins can be used to play their games. But if a casino offers the option to play with Terra, then they also have a large collection of Terra games available, whether you prefer Terra slots, poker, roulette, blackjack or some other table game or live game.

So pick your favorite casino, deposit your Terra and

May the odds be ever in your favor!

Terra is a blockchain technology that uses a variety of algorithmic decentralized stablecoins, which power the ecosystem that makes the decentralized finance available to the general public. The most popular stablecoin is called TerraUSD, which is pegged to the US dollar and maintains its stability through a coin called LUNA, which is a regular cryptocurrency created by Terraform Labs. LUNA’s supply flexibility keeps the stablecoins under control.

On top of that, LUNA is also used as a governance token, for staking (stakers are called delegators) and in mining. Its purpose is to absorb the volatility of Terra. The Terra blockchain is used for trading, saving, spending and swapping various stablecoins. You can mint new Terra tokens by burning LUNA.

1. Decentralization: Terra blockchain uses a proof of stake mechanism, which is powered by Cosmos SDK, which solves the problems of sovereignty, scalability, and sustainability.
2. Safety: For security Terra uses a system of verification called the Tendermint consensus, which ensures that the same transactions are recorded on all the machines in the exact same order. In addition, the interface itself allows the transactions to be processed in all the programming languages. The consensus works in a way where a new validator is chosen to create a new block of transactions, then the validators vote in two rounds if they accept or reject the block. After the block is added the transaction fees from the block are shared among validators and delegators. The one who created the block gets rewarded more for his participation.
3. Scalability: The Terra protocol is designed to keep Terra’s price in place. The volatility, market size or demand don’t have an impact on it. The policies that are encrypted into the protocol make sure that the price maintains stability in market fluctuations.

All the transactions carried out on the Terra blockchain are accompanied by the gas fee. Gas fee is a small percentage that gets paid in order for a transaction to come through. There are three types of fees on the Terra blockchain: Gas, Tobin and Spread.

Gas covers the cost of processing a transaction. The minimum amount is set by the validators. Tobin tax is a fixed percentage fee. The rate is typically 0.35% however it varies depending on the coin. Spread fee has a minimum amount of 0.5% and gets adjusted based on the market’s volatility (in case it gets extreme). Paid spread fees get spread among the validators.

The types of fees that are applied to a certain transaction depend on the type of swaps between the coins you are planning on doing. If you are planning on swapping two stablecoins you will have to pay gas fee and tobin tax. If you are planning on making a swap between a stablecoin and Luna, however, you will have to pay gas and spread fee.

The average total transaction fee is around $0.17.

Terra reached its all time high in April of 2022 at $116.11. Currently 1 LUNA is worth $82.90. The fees remained low throughout.