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In a groundbreaking development, Terra Classic (LUNC) has been integrated with Oxen's non-custodial crypto wallet, enabling users to make payments using their LUNC in 180 countries. This integration offers a new level of utility for the Terra Classic community, as they can now use their crypto for everyday transactions through Apple Pay, Samsung Pay, and Google Pay. Let's dive into the details of this exciting update and how it can benefit you as a crypto user.
The Integration with Oxen's Non-Custodial Wallet
The integration of Terra Classic with Oxen's non-custodial wallet is a significant milestone for the crypto community. This partnership allows users to access the Pisa card, which enables them to use their LUNC for payments. The Pisa card is a prepaid card that can be loaded with crypto and used for purchases at millions of merchants worldwide. This integration not only expands the use cases for Terra Classic but also provides a convenient and secure way for users to spend their crypto.
Making Payments with Terra Classic
To start using Terra Classic for payments, you need to complete the Know Your Customer (KYC) process and deposit at least 20 LUNC into your wallet. Once your wallet is funded, you can deposit the same amount onto the Pisa card and begin making payments. The process is straightforward and can be completed within minutes. With the Pisa card, you can now use your Terra Classic for everyday transactions, such as buying groceries, paying bills, or booking a hotel room.
The Benefits of Using Terra Classic for Payments
Using Terra Classic for payments offers several advantages over traditional payment methods. Firstly, transactions are processed on-chain, which means they are subject to a 1.2% burning tax. This tax helps to reduce the overall supply of Terra Classic, which can lead to an increase in its value over time. Additionally, using Terra Classic for payments can help to speed up the burn rate, as more transactions will result in more burning taxes being collected. This can create a positive feedback loop, where increased usage leads to higher demand and a higher value for Terra Classic.
The Future of Terra Classic
The integration of Terra Classic with Oxen's non-custodial wallet is just the beginning of the community's efforts to rebuild the chain. Since gaining control of the chain in August, the community has focused on three main objectives: reducing the supply of Terra Classic, developing the chain to attract projects, and reclaiming the dollar peg against the classic USD or USDC. These efforts have already led to a significant increase in the value of Terra Classic, with its price rising by 4.12% in the last hour and 2.38% in the last 24 hours. As the community continues to work towards these objectives, the future of Terra Classic looks bright.
Conclusion
The integration of Terra Classic with Oxen's non-custodial wallet is a significant development for the crypto community. It offers a new level of utility for Terra Classic, enabling users to make payments using their crypto in 180 countries. With the Pisa card, you can now use your Terra Classic for everyday transactions, such as buying groceries, paying bills, or booking a hotel room. As the community continues to work towards its objectives, the future of Terra Classic looks bright, and we can expect to see more exciting developments in the near future.
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