Luno | Business24-7

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Written by Braden Chase Edited by Giles Thomas Fact Checked by Tomislav Turcin

7 March 2023

2 March 2023

Page Summary

Luno is a centralized Bitcoin and Ethereum crypto exchange with fiat payment services. It has a comprehensive learning center and user-friendly platforms. The Luno Exchange facilitates conversions between crypto and fiat currencies. We recommend the Luno services for traders at all levels who want to trade Bitcoin against fiat currencies.

Review Summary: 

Luno is a reliable exchange to buy crypto with user-friendly services.
It lets users convert crypto into different currencies with ease.
It offers only two coins, Bitcoin and Ethereum.

Luno Overview:

Luno offers trading in Bitcoin and Ethereum. It stands out as the best exchange to convert crypto into local currency. All transactions are straightforward and complete in a couple of minutes. The Luno exchange is available worldwide in the following countries:

 Austria
 Belgium
 Bulgaria
Croatia
 Cyprus
 Czechia
 Denmark
 Estonia
Finland
 France
 Greece
 Guernsey
 Hungary
Iceland
 Indonesia
 Isle of Man
 Italy
 Jersey
 Latvia
 Liechtenstein
 Lithuania
 Luxembourg
 Malaysia
 Malta
 Monaco
 Netherlands
 Nigeria
 Norway
Poland
 Portugal
 Romania
 San Marino
 Slovenia
South Africa
 Spain
 Sweden
 Switzerland
 United Kingdom

Trading Experience

Luno is a centralized trading platform. It offers Bitcoin trading against five currencies:

Euro
Indonesian Rupiah
Nigerian Naira
South African Rand
Malaysian Ringitt

Its platforms are basic and suit the needs of traders at all levels. The Luno web platform offers Instant Buy services. This crypto exchange is secure and offers many safety options. Luno offers a reliable mobile app with access to the Luno wallet. We recommend this exchange to traders at all levels, as it has an excellent FAQ center.

Cryptocurrencies Available 

Luno is a crypto exchange with access to Bitcoin and Ethereum. Ripple isn’t available with this provider. The Bitcoin crypto pairs available with Luno are:

BTC/ZAR
BTC/NGN
BTC/EUR
BTC/IDR
BTC/MYR

Fees 

Trading fees at Luno vary depending on trading volume. For example, the BTC/EUR maker fee is 0.00%, and the taker fee is 0.25%. Traders from Europe and Malaysia receive free deposits. Withdrawal fees vary depending on your country of residence. Read our in-depth reviews to learn more about crypto trading and deposit and withdrawal fees.

Regulation & Reputation 

Luno doesn’t have top-tier licenses from a trustworthy regulator. It has a long track record in the industry and uses bank-grade safety protocols:

Two-factor authentication
Multi-sig keys
Hot wallets with multi-signatures
Encryption and storage in the bank vault of all private keys

Account Opening 

Luno has a user-friendly interface and straightforward account opening process. The steps you need to follow to open a Luno account are:

Access Luno via a web browser or the Luno app.
Click on the Sign-Up button to register a new account.
Enter an email address and password.
Confirm your email.
Submit your phone number and confirm it through SMS.
Verify your identity.
Fund your account.

Customer Support 

Luno has average customer support. It offers email support with an average response time. It doesn’t offer live chat or phone support. This exchange has a valuable Help Center for traders at all levels.

Summary 

Luno is a top cryptocurrency exchange for trading Bitcoin against fiat currencies. It offers a secure platform and mobile app. The Luno exchange is a good fit for traders at all levels who want to buy crypto with straightforward services. The comprehensive Help Center is a valuable learning tool.

FAQ

What Is A Centralized Bitcoin Exchange?

A centralized crypto exchange is a private company that offers crypto trading platforms. It lets users invest in digital assets. These exchanges request registration, known as the Know Your Client rule.

What Is A Decentralized Bitcoin Exchange?

A decentralized crypto Exchange is a provider with no central point of control. It works as a server, but each computer within the network operates in a different area of the world. If one device malfunctions, it doesn’t interfere with the network’s activity. Decentralized crypto exchanges don’t follow the rules of a regulatory body. If you choose this exchange, you should understand the risks. Check our in-depth reviews to read more about decentralized exchanges, licenses, and safety.

Is Luno Wallet Safe?

The Luno cryptocurrency exchange offers a free wallet, the BitX Wallet. Today is known as the Luno wallet, and it is similar to PayPal. It is safe and offers many funding options.

Is Luno App Safe?

The Luno app is intuitive and uses industry-leading safety features. It is a reliable trading app with access to many services. It is available on iOS and Android devices.

Disclaimer

Braden Chase

Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

Luno Review