ExchangeNews

Luno planning to add Ethereum exchange support

Luno, which added Ethereum wallet support early this November after seeing an increase in “renewed interest in Ethereum” on its platform is planning to add Ethereum exchange to allow people to trade Ether.

Currently, people use the instant-buy option to send, receive, buy, sell and store. Hence, it cannot trade Eth on its Exchange. Therefore, a fully-fledged exchange feature would facilitate placing of orders.

 Luno said,

“Instant buy is like buying forex at the airport – there is a price that you’ll get for your local currency which you can accept or decline”.

The new feature will suit traders who want more powerful features, charts, and order types.

Also Read: Bitcoin exchanges are unsure about the big time

The first to start on the Luno Exchange will be the ETH-BTC trading pair according to the company. But it will still be possible to purchase Ethereum using rand via the instant-buy option.

Luno also plans to add Ethereum price alerts on its platform.

Addition of Ethereum on Luno means it is possible that Luno will add in other digital currencies in the future, the company said.

Currently, Luno supports Bitcoin, Ethereum, limited support for withdrawal and selling for Bitcoin Cash, and now-suspended SegWit2X fork.

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David

David Kariuki is a journalist who has a wide range of experience reporting about modern technology solutions including cryptocurrencies. A graduate of Kenya's Moi University, he also writes for Hypergrid Business, Cryptomorrow, and Cleanleap, and has previously worked for Resources Quarterly and Construction Review magazines.

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