| Legal Name | Luno Exchange |
| Headquarters | London, UK. |
| CEO | Marcus Swanepoel |
| Year Founded | 2013 |
| Exchange Type | Centralized |
| Trading Fees | Maker: 0.0%/ Taker: 0.25%. |
| Deposit Methods | Wire Transfer, Credit Cards |
| Supported Cryptos | Bitcoin (XBT), Bitcoin Cash (BCH), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and more |
| Fiat | EUR, IDR, MYR, NGN, ZAR.and more |
| Customer Service | Email, Phone |
| Trading Options | Spot Trading |
With more than 100 million users and 400,000 daily users from all across the globe, Bitcoin has become more popular than ever before. With so many global users, it is no wonder that Bitcoin exchanges are rising at a rapid rate.
Luno is a user-friendly cryptocurrency exchange that offers a well-delivered range of services in a trusted, reliable, and secure fashion.
This review will cover the complete facts about Luno Exchange, its distinguishing features, trading, fees schedule, pros and cons, and much more. Let us look into this Luno Exchange Review in detail now,
Luno is a cryptocurrency exchange from the United Kingdom. The exchange only offers trading in Bitcoin, Ethereum, Ripple, Bitcoin Cash, and Litecoin. The company serves over 3 million users from over 40 countries worldwide and has over 100 employees.
It has offices in London, Singapore and Cape Town (South Africa). It was established in 2013 under the name BitX, with the rebranding to Luno taking place in 2016. Luno was founded by Timothy Stranex and Marcus Swanepoel.
Luno Exchange is backed by several notable investors, including Venturra Capital, Digital Currency Group, Balderton Capital, Naspers, and Rand Merchant Investment Holdings (RMI).
Luno’s trading fees for takers are 0.25%. This fee is on point with the industry average which is also around 0.25%. However, there is no trading fee for makers offered at Luno. Luno has no charges for makers, thus promoting the liquidity at the exchange.
Luno Exchange fees vary depending on network activity, location, and currency. There is a fee of 0.0002 BTC for receiving bitcoin via a bitcoin address. Although both sending and receiving bitcoin via mobile or an email address is free.
At present Luno supports the following cryptocurrencies:
Luno accepts the following fiat currencies:
Like most other cryptocurrency exchanges out there, Luno is also available as a mobile application. This means that you no longer need a desktop to access the cryptocurrency trading world. You can download the app from the App Store or Google Play Store and use it on the go.
Go to the Official Site and select the “Sign Up” button on the home page
Enter your email address or use the option to sign up with Google or Facebook
Pick a strong, secure password and Select “Sign up”
Log in to your account. Tap Profile on the Menu
Navigate to Settings and then Select Upgrade
Submit a high-quality photo or scan of your driving license, identity card or passport, to complete the verification process
To recover the forgotten password, sign in through the Luno Exchange login and follow the “Forgot password” prompt to receive a password reset link. you will receive a 4-digit code to confirm your password reset. Click on the link to get a new password.
Step 1: Visit the Official site and sign in
Step 2: Select Wallets from the menu
Step 3: Choose your local currency wallet
Step 4: Select Deposit
Step 5: Choose the method with which you would like to deposit to your wallet
Step 6: Then follow the on-screen prompts to complete the deposit
Step 1: Visit the Official site and sign-in
Step 2: Tap Wallets from the Menu
Step 3: Tap Withdraw on your local currency wallet
Step 4: If you have not yet provided your bank account details, you will be prompted to link your bank account
Step 5: Enter the amount you would like to withdrawStep 6: Select your bank account. You can add an optional note here for your records.
Step 1: Log in to your account
Step 2: From the menu, select the wallet where you would like to buy the cryptocurrency
Step 3: Then, select the Buy option
Step 4: On the next screen, select the ‘Add a new card’ option
Step 5: On this screen, enter your debit or credit card details, Once done, select Add Card
Step 6: You will be taken directly to the Enter Amount screen. Enter the amount you would like to buy, and select Next
Step 7: You will see a confirmation screen. select ‘Confirm’
Step 8: If you have two-factor authentication (2FA) enabled, you will be prompted to enter your 6-digit 2FA code and the payment will be processed
Step 1: Log in to your account
Step 2: From the menu, select the wallet where you would like to sell the cryptocurrency
Step 3: Then, select the Sell option
Step 4: On the next screen, select the ‘Add a new card’ option
Step 5: On this screen, enter your debit or credit card details, Once done, select Add Card
Step 6: You will be taken directly to the Enter Amount screen. Enter the amount you would like to sell, and select Next
Step 7: You will see a confirmation screen. select ‘Confirm’
Step 8: If you have two-factor authentication (2FA) enabled, you will be prompted to enter your 6-digit 2FA code and the payment will be processed
Luno offers a fairly advanced level of overall security. Digital wallets are secured via two-factor authentication and account passwords are stored in a hashed form. SSL encryption is used throughout all web services,
For starters, Luno supports less traded fiat currencies such as the Indonesian rupiah, the Malaysian ringgit, and the Nigerian Naira. This has made Luno especially popular in countries such as Indonesia, Malaysia, and Nigeria.
Thus the Luno Exchange is one of the renowned exchanges which is worth recommending.
Other cryptocurrency exchanges to know Coindeal exchange, Indodax exchange review, OEX exchange review
Share your views on our Twitter and Facebook pages. Also, read our reviews of some more exchange sites.
To be able to withdraw your funds in your local currency, ensure that your account is already verified. simply follow the instructions under the menu for the withdrawal on your account page.
Sign up at Luno, Verify your identity and Deposit money to your Luno account after which you can buy Bitcoin or Ethereum with your funds
Luno is considered a safe exchange in general. Until today the exchange has never suffered any major hack.
The precise withdrawal time depends on the bank processing the withdrawal. On Luno’s side, all withdrawal requests are processed within the same business day.
No, Luno does not accept PayPal.
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