Luno is one of the world’s leading cryptocurrency exchange that is based in three locations i.e. Cape Town, Singapore, and London. The company has the vision to revolutionize the currency system by bringing Bitcoins in the system. This makes the currency free from any authorities and the users can avail all the benefits from a decentralized system.
Features of Luno exchange
Luno has a team of almost 40 people who come from different backgrounds such as engineering, financing etc. which brings diversification and more experience. The team aims to increase the accessibility of Bitcoins among the users.
Luno has some of the very powerful investors such as Naspers, Digital currency group, and Ventura. Thus, the company is empowered by renowned ventures in the industry.
The user has several payment options to fund their accounts in different geographical regions. Single Euro Payments Area (SEPA), bank transfers, Electronic Fund Transfer (EFT), Interbank GIRO (IBG) are some of the widely used platforms on Luno for payment processing.
Luno Mobile application – Luno Bitcoin Wallet
Luno has a mobile application apart from the website. This makes the technology even handier. The application is compatible with both Android and iOS. The application has all the features same as websites such as easy deposits and withdrawals, adding funds to the account.
The market analysis tools are also available on mobile application. Features such as real time pricing of different crypto markets and charts for competitive pricing in different timelines work on the application too. Thus, a user can have a better trading experience.
Security at Luno
Luno follows stringent policies along with advanced technology when it comes to security. The currency is stored in deep freeze storage, which keeps it offline. The wallet works on multi-sig technology with private keys that keep the money even safer against cyber crimes and eliminate the risk of volatility.
Some of the money is also stored on hot wallets, which are taken care of by Bitgo. Bitgo uses multi-sig technology to maintain these wallets. It requires more than two parties to approve a transaction. Thus, the user controls the private key and the public key is with Bitgo. The hot wallet is basically for quick transactions such as easy withdrawals.
Another feature for security is two-factor authentication (2fa), which can be enabled by the user. The user can download Google authenticator on a device and scan the QR code of the Luno account. Once both the account sync, the 2fa will be active. Thus, every time there is a login, a 6-digit code goes to the registered mobile number.
How to register a new account on Luno?
In order to register a new account, log onto www.luno.com. The user can then click on the tab “Sign up”. Enter the details such as Email ID, and create a password.
The password should be at least 8 characters long with uppercase, lowercase, and numbers. Also, the user has to select the country. There is also an option of login with Facebook and Google account. A verification email goes to the registered email ID, which has to be activated to validate the account.
Buy/sell at Luno – Luno trading
A user will have to fund the Luno account before he can place any order. The funds could be added using various payment options available. Once there is sufficient amount, the user can begin with transactions.
In order to buy and sell on Luno, a user can select the crypto market and the amount he wishes to invest and eventually place the order. The user can check various market analysis tools to analyze the real-time price for the cryptocurrency and the 24-hour trading volume.