Just a coincidence, I'm currently doing Anchor Protocol + Mirror delta neutral short+long farming strategy with my play money of my portfolio, so I had some homework done.

I have a few methods, pick your poison ya. I'm not a fan of Binance so I found my own routes below.

1. Kadoramp directly to Terra wallet. (One-way)
2USD flat fee, up to 500USD transaction limit initially (0.4% cost), simple KYC that can be done in 5min. This is easily the cheapest and least loss way to get UST if you have a Wise card to pay in USD on best rates.

Total fee: 2USD flat + ~0.5% Wise forex charges

2. Luno (two-way)
Buy LTC (LTC has the smallest different between market prices and Luno prices), send to KuCoin, trade LTC for USDT, trade USDT for UST, withdraw to TerraWallet. LTC send cost is negligible from Luno, and KuCoin trading cost is low, UST withdrawal fee is 2UST.

Total fee: 2UST flat, ~0.25% LTC purchase fee on Luno (maker fee), ~0.5USD LTC send fees, 0.1% x2 Kucoin trading fee

3. Atom (two-way, advanced)
Buy LTC -> trade for USDT on Kucoin -> trade USDT for Atom -> withdraw to Keplr wallet -> Interblockchain send from COSMOS (ATOM) to OSMOSIS, on Osmosis app, swap Atom for UST or Luna if you'd like, withdraw to Terra Wallet. It's possible to use the same seed phrase of TerraWallet on Keplr wallet so you save one sending process.
Total fee: 0.25% LTC purchase fee, 0 fee once your money reach Osmosis. 0.1% x2 on KuCoin, ~0.5USD Atom withdrawal fee on KuCoin

Option 1 is the best if you just want to deposit.
Option 2 is the easiest withdrawal path.
Option 3 has no minimum fee so it's more small deposit friendly but takes some knowledge to setup.

Keep in mind if you purchase crypto via non-LUNO exchanges, you better keep those transaction records if LHDN find you in the future for your crypto gains.

This post has been edited by Hoshiyuu: Apr 22 2022, 05:21 PM

FYI The free articles Motley Fools put out are pure sensationalized clickbait to draw people to their site and entice them with their premium subscriptions. While I'll refrain from commenting on their premium subscriptions, their free stuff is generally agreed to be hot garbage. I wouldn't take them too seriously.

Plus, all four of the listed "concerns" are pretty much horoscope tier generic description. Let me give you an example.

Subject: Investing in SP500 index funds

1. The USD could lose its international dominance (closest analogue I can think of for The UST stablecoin could lose its peg) therefore your entire investment could be in jeopardy due to all-US stocks.
2. This is not sustainable (SP500 decade long rally and sky high P/E ratio is not sustainable).
3. Increased regulations - both on individual companies in the index (e.g. META) as well as the stock trading in general.
4. Lack of consumer protection - I mean, investing in SP500 isn't FDIC insured. Their loss is your loss.

Bam, I just written a Motley Fool article overview titled "Here's why I am passing on investing in SP500".

---

On a more serious note, Anchor, and Terra itself does have plenty of valid points of concerns. But those are not question without answers nor this is the first time they are asked:

1. The UST stablecoin could lose its peg
Algorithmic stablecoins are well known to get death spiralled out of existence - a black swan event where LUNA and UST crash together and investors mass pull out of the market causing a de-peg before arbitrageurs tips the balance back. This is why LFG is securing a large amount of BTC (They hold around 44k BTC now? AFAIK and it's more than what Tesla holds) so that (Grossly simplifying) BTC can be an alternative ramp to maintain the peg when LUNA's in a death spiral.

2. Everyone knows this. Literally anyone who have staked anything or farmed anything knows their ecosystem is 500% not sustainable - Anchor is no different. Instead of lowering the interest rate down to unattractive %, LFG (against the spirit of DeFi) is pumping in large amount of yield reserves to maintain this APY to sustain the explosive growth of UST adoption/TVL. In near future, a more sustainable rate will be introduced and it will slowly go down to 15% and even further on 6-7% like all mature systems. The 20% APY is the reward to people taking the risk in a relatively speaking extremely young system.
Now, whether people will leave en masse the moment APY drops to 15% is beyond me. and there is various murmurs of setting a floor limit of 15%/17.5% - until we get there, everything is just speculation.

3. It's DeFi. Good luck regulating it outside of ramps. SEC isn't happy with Mirror Protocol either and the best they can do is subpoena Do Kwon, they can't exactly shut down Mirror Protocol. To the best of my knowledge, that stuff is now on IPFS and changes can just be a governance poll + adding new contract by protocol participants.

4. ...so is investing in stocks. DYOR, if something is too good to be true, it is. Know your trade off and risks.


To me, I try not to overcomplicate things for myself, I earn my 20% APY now + whatever I get for CDP'ing my aUST, if the yield reserve drops dangerously low, I'll leave.
Everything I put into Anchor now, I am prepared to lose it all to begin with

This post has been edited by Hoshiyuu: Apr 23 2022, 12:30 PM