What Is Luno?
Luno is a digital currency exchange that allows you to buy, sell and store cryptocurrencies. The company is headquartered in London, but also has offices in Singapore and Cape Town.
Luno allows you to buy, sell and store Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), USD Coin (USDC).
Luno Features
Luno makes managing cryptocurrency easier than ever before. With three different services in one place, you can trade cryptocurrencies through their trading platform, store them safely in your wallet or use their API for developers to create systems with total security and convenience. Whether you’re a beginner or an experienced trader, Luno makes it for you to trade cryptocurrencies with ease.
For business accounts, Luno offers services like accepting payments in crypto, paying invoices with cryptocurrencies, or buying, selling, and trading of cryptocurrencies.
- Large Trading Volume
- Tight Spread
- Customer Support Via LiveChat
- Instant Buy and Sell
- Easy to Use Trade Room
- Price Alert
- Instant deposit
- Mobile App
- Multiple Currency
- Direct Withdrawal to Bank account
- Safe Secure system
1. Luno Instant Buy/Sell
Luno allows you to instantly buy or sell Bitcoin, Ethereum and Litecoin. You can also store these cryptocurrencies in your Luno wallet.
2. Free Cryptocurrency Wallet
You can use the Luno wallet as a free cryptocurrency wallet to make or receive payments with anyone anywhere in the world, at any time.
3. Luno Business Solutions
For business accounts, Luno offers services like accepting payments in crypto, paying invoices with cryptocurrencies, or buying, selling, and trading of cryptocurrencies.
4. Buy Bitcoin and Ethereum with Credit Card
You can buy Bitcoin and Ethereum instantly with your credit card. You will need to verify your identity before you can purchase these cryptocurrencies.
5. Luno Exchange
Luno also allows users to buy and sell cryptocurrencies on the built-in Luno Exchange. The exchange uses liquidity from other users to provide a market for cryptocurrencies.
6. Cryptocurrency Wallet Security
Luno ensures all cryptocurrency funds stored on its platform are fully protected against theft or loss. You can store your Bitcoin, Ether and other supported cryptocurrencies in the Luno wallet securely with state of the art security features.
7. Two-Factor Authentication
You can protect your Luno account with two-factor authentication, which requires a second verification step when you sign in to your account. This makes it harder for anyone to gain access to your account, even if they have your login details.
8. 24/7 Customer Support
Luno offers 24/7 customer support in case you have any questions or need assistance with your account.
9. Worldwide Availability
Luno is available in over 40 countries, making it easy for people around the world to buy, sell and store cryptocurrencies.
10. Easy to Use Interface
The Luno user interface is easy to use and navigate, making it accessible to people of all backgrounds and ages.
In order to be able to trade cryptocurrencies on Luno, you will need a verified account. This means that you can deposit funds into your Luno wallet or trade cryptocurrencies on the exchange only if you have completed the identity verification process and validated your bank account.
11. Luno API
Luno also has an open API that allows developers to build cryptocurrency applications and platforms on top of its platform.
12. Savings Wallet
The Luno savings wallet allows you to earn up to 4% interest on your cryptocurrency deposits.
13. Luno Mobile App
Luno also has an app that allows you to buy, sell and store cryptocurrencies on the go. You can find their app for Android or iOS here .
Buy And Sell On Luno
To buy cryptocurrencies on Luno, you first need to create an account and verify your identity. Once your account is verified, you can deposit money into your Luno wallet using a bank transfer or credit card. You can then use this money to buy cryptocurrencies at the current market rate.
To sell cryptocurrencies on Luno, you first need to withdraw them from your Luno wallet into a bank account or credit card. You can then sell these cryptocurrencies at the current market rate.
Currencies and Payment Methods
Luno supports the buying and selling of the following cryptocurrencies:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Bitcoin Cash (BCH)
- Litecoin (LTC)
- USD Coin (USDC)
Luno accepts the following fiat currencies:
- Euro (EUR)
- Indonesian Rupiah (IDR)
- Malaysian Ringgit (MYR)
- Nigerian Naira (NGN)
- South African Rand (ZAR)
- Zambian Kwacha (ZMW)
- Polish Złoty (PLN)
- Ugandan Shilling (UGX)
- British Pound (GBP)
Luno accepts the following payment methods:
- Debit / Credit card (EUR)
- SEPA (EUR)
- Bank transfer (IDR and NGN)
- Interbank Giro / IBFT (MYR)
- Card deposit (NGN)
- Paystack (NGN)
- GT Bank transfer (NGN)
- EFT (ZAR)
- Cash deposit penalty (ZAR)
- iDeal (EUR)
- Sofort (EUR)
- Flutterwave (NGN)
Luno Supported 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
Instant Buy/Sell Transaction Limit
Luno Cryoto Pairs
| Market | Cryptocurrency | Local currency |
|---|---|---|
| BCH/BTC | BCH 0.001 – BCH 40 | BTC 0.001 – BTC 5 |
| BCH/ETH | BCH 0.001 – BCH 20 | ETH 0.01 – ETH 100 |
| BCH/XRP | BCH 0.001 – BCH 20 | XRP 0.1 – XRP 80,000 |
| ETH/BTC | ETH 0.001 – ETH 100 | BTC 0.001 – BTC 5 |
| LTC/BCH | LTC 0.001 – LTC 200 | BCH 0.002 – BCH 40 |
| LTC/BTC | LTC 0.001 – LTC 200 | BTC 0.001 – BTC 5 |
| LTC/ETH | LTC 0.001 – LTC 200 | ETH 0.01 – ETH 100 |
| LTC/XRP | LTC 0.001 – LTC 200 | XRP 0.1 – XRP 80,000 |
| USDC/BCH | USDC 1 – USDC 30000 | BCH 0.002 – BCH 40 |
| USDC/BTC | USDC 1 – USDC 30000 | BTC 0.001 – BTC 5 |
| USDC/ETH | USDC 1 – USDC 30000 | ETH 0.01 – ETH 100 |
| USDC/LTC | USDC 1 – USDC 30000 | LTC 0.01 – LTC 200 |
| USDC/XRP | USDC 1 – USDC 30000 | XRP 0.1 – XRP 80,000 |
| XRP/BTC | XRP 0.1 – XRP 80000 | BTC 0.001 – BTC 5 |
| XRP/ETH | XRP 0.1 – XRP 80000 | ETH 0.01 – ETH 100 |
Luno Fiat Pairs
| Market | Cryptocurrency | Local currency |
|---|---|---|
| BCH/NGN | BCH 0.001 – BCH 20 | NGN 50 – NGN 3,600,000 |
| BTC/NGN | BTC 0 – BTC 2 | NGN 50 – NGN 3,600,000 |
| ETH/NGN | ETH 0.001 – ETH 100 | NGN 50 – NGN 3,600,000 |
| LTC/NGN | LTC 0.01 – LTC 200 | NGN 50 – NGN 3,600,000 |
| USDC/NGN | USDC 1 – USDC 30,000 | NGN 50 – NGN 3,600,000 |
| XRP/NGN | XRP 0.1 – XRP 80,000 | NGN 50 – NGN 3,600,000 |
Luno Fees
Send fees
| Currency | Method | Fee |
|---|---|---|
| BTC | Send to BTC Address | Dynamic * |
| BTC | Send to email address or mobile number | Free |
| BCH | Send to BCH Address | Dynamic * |
| ETH | Send to ETH Address | Dynamic * |
| XRP | Send to XRP Address | 0.03% |
| LTC | Send to LTC Address | Dynamic * |
| USDC | Send to USDC Address | Dynamic * |
Receive fees
| Currency | Method | Fee |
|---|---|---|
| Bitcoin (BTC) | Receive by BTC Address | Free * |
| Bitcoin (BTC) | Receive by email address or mobile number | Free |
| Bitcoin Cash (BCH) | Receive by BCH Address | Free |
| Ethereum (ETH) | Receive by ETH Address | Free |
| Ripple (XRP) | Receive by XRP Address | Free |
| Litecoin (LTC) | Receive by LTC Address | Free |
| USD Coin (USDC) | Receive by USDC Address | Free |
Trade fees
| Tier | Volume | Maker | Taker |
|---|---|---|---|
| 1 | Between ₦0.00 – ₦99,999,999.99 | 0% | 0.1% |
| 2 | Between ₦100,000,000.00 – ₦199,999,999.99 | 0% | 0.09% |
| 3 | Between ₦200,000,000.00 – ₦399,999,999.99 | 0% | 0.08% |
| 4 | Between ₦400,000,000.00 – ₦799,999,999.99 | 0% | 0.07% |
| 5 | Between ₦800,000,000.00 – ₦1,599,999,999.99 | 0% | 0.06% |
| 6 | Between ₦1,600,000,000.00 – ₦2,399,999,999.99 | 0% | 0.05% |
| 7 | Between ₦2,400,000,000.00 – ₦3,199,999,999.99 | 0% | 0.04% |
| 8 | More than ₦3,200,000,000.00 | 0% | 0.03% |
Verification levels and limits
Certain limits apply to each verification level. Learn more about how these limits work and how you can upgrade your account.
| Level 1 | Level 2 | Level 3 |
|---|---|---|
| Deposits over all time ₦200,000.00 Withdrawals over all time ₦200,000.00 | Deposits per month ₦500,000.00 Withdrawals per month ₦500,000.00 | No limits |
Luno Review: Pros and Cons
| Pros | Cons |
|---|---|
| User-friendly interface | No margin trading or futures contracts available |
| Advanced platform | Unclear policies on fund withdrawals and deposits |
| Easy to Use | Not available to North American customers |
| Beginner Friendly | |
| Low Fees | |
| Solid Security | |
| Supports Multiple Crypto | |
| Support Credit cards and fiat currencies |
FAQ: Luno Review
Does Luno have an app?
Yes. The Luno app is available on Google Play and Apple App Store.
Is Luno safe?
Yes, Luno is safe to use. Luno has been in the cryptocurrency world since 2013 and is a well-recognized company. Luno abides by all KYC/AML (know your customer/anti-money laundering) laws and regulations.
How do I buy Bitcoin on Luno?
To buy Bitcoin on Luno, you must first create an account. Once you have created an account, you can now link your bank account and start buying Bitcoin through it.
How many people use Luno?
According to Luno’s website , the number of people that use their services is more than 3 million.
Can I store other cryptocurrencies on Luno?
No. As of now, Luno only supports Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), USD Coin (USDC).
Where is Luno based?
Luno is a South African company that has offices in London, Singapore, and Cape Town.
How do I make a withdrawal from my account on Luno?
To make a withdrawal from your account on Luno, you must tap the “wallet” icon at the bottom right of the app. From there, you will see your wallet balance. Next to “wallet”, there’s an arrow pointing downward. Tap it and select “withdrawal”. You can now choose how much money you would like to withdraw.
