Luno
$25 Bonus
Add to compare
Operating since

2013

Website

luno.com

# Coins

13

Fiat supported

AUD, EUR, GBP, IDR, MYR, GNG, SGD, UGX, ZAR, ZMW

Fees

maker 0% / taker 0.1%

Headquarters

United Kingdom

Services

Exchange (Spot), Wallet

Average Score 6.9
Offer range
3
Credibility/Security
9
Platform
8
Customer service
7.5
PROS:
  • User-friendly and intuitive interface
  • Offers mobile app for convenient trading and management of crypto assets
  • Low fees for trading and depositing cryptocurrencies
  • Strong security measures to protect users' assets
CONS:
  • Limited payment options for deposit and withdrawal in some regions
  • Low number of cryptocurrencies
  • Limited features for advanced traders and investors
  • Customer support can be slow to respond in some cases
  • Not available in all countries
TOP 3 in Cryptocurrencies
TOP 3 in Forex / CFD
Latest News
Latest Articles
Category:

Luno is a global cryptocurrency exchange and wallet platform that allows users to buy, sell, and store various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Founded in 2013, Luno is one of the oldest cryptocurrency exchanges in the world and has gained popularity for its user-friendly interface and emphasis on security. Luno operates in over 40 countries, including South Africa, the UK, and Singapore, and has over 8 million registered users.

Do you like it?
6
Add your review
Deposit and buy €250 in any crypto and get €25.00 free BTC

Introduction: What is Luno?

Luno is a cryptocurrency exchange that was founded in 2013. The company is headquartered in London, but it has a global presence, including in South Africa, Malaysia, and Nigeria. The platform allows users to buy, sell, and trade cryptocurrencies, including Bitcoin and Ethereum.

Luno’s mission is to make it easy and safe for people to buy, store, and use cryptocurrencies. The company aims to create a reliable, accessible, and secure platform for people who want to enter the world of cryptocurrency. Luno offers various features such as a mobile app, a wallet service, and an exchange platform that are designed to make cryptocurrency trading easy and accessible to everyone.

Luno App Download and Features

Luno offers a user-friendly mobile app that makes it easy to buy, sell, and store cryptocurrencies like Bitcoin and Ethereum.

Here’s how to download and use the Luno app:

  1. Download the Luno app: The Luno app is available for download on both the App Store and Google Play Store. However, it’s recommended for new users to download the app from the Luno website (https://www.luno.com/) to ensure that you’re downloading the official app and not a fraudulent version. Once on the Luno website, simply navigate to the “Download” section and select the appropriate operating system (iOS or Android). You’ll be redirected to the respective app store where you can download the Luno app for free.
  2. Register an account thorugh this link ($25 for free): Once the app is installed, open it and click on “Create Account” to register for a new account. You will be asked to provide some basic personal information such as your name and email address. Luno may also require additional verification steps, such as providing a government-issued ID or proof of address.
  3. Verify your account: To fully activate your account, you will need to complete a verification process. This typically involves submitting a photo of your government-issued ID and a selfie. The verification process may take a few hours to complete.
  4. Add funds to your account: To buy cryptocurrencies on Luno, you will need to add funds to your account. This can be done using a bank transfer or credit/debit card. Once your account is funded, you can start trading cryptocurrencies.
luno app

Luno App (source: luno.com)

Some of the key features and benefits of the Luno app include:

  1. User-friendly interface: The Luno app is designed to be simple and easy to use, even for beginners. The app features clear navigation and intuitive controls that make it easy to buy, sell, and store cryptocurrencies.
  2. Low fees: Luno offers competitive fees for buying and selling cryptocurrencies. Fees range from 0% to 1%, depending on the transaction type and the currency being traded.
  3. Secure storage: Luno stores the majority of its users’ cryptocurrencies in offline cold storage wallets. This helps to protect against hacks and other security threats.
  4. Fast transactions: Transactions on Luno are typically processed quickly, with most transactions being completed within a few minutes.
  5. Mobile access: With the Luno app, you can access your cryptocurrency portfolio from anywhere, at any time. This makes it easy to stay up-to-date on the latest market trends and make trades on the go.

In summary, the Luno app is a user-friendly and secure way to buy, sell, and store cryptocurrencies. With low fees, fast transactions, and mobile access, the app is a great option for both beginner and experienced traders.

Luno Registration and Account Setup

When it comes to using Luno, the first thing you’ll need to do is register for an account. Here is a step-by-step guide to getting started with Luno.

How to register for a Luno account – Step-by-step guide to account setup

  1. Visit the Luno website: To get started, head to the Luno website, which you can find by searching for “Luno” on your preferred search engine.
  2. Click on “Sign Up”: Once you’re on the Luno homepage, click on the “Sign Up” button in the top right-hand corner of the screen.
  3. Fill in your details: The next step is to fill in your details, including your name, email address, and password. You will also need to agree to Luno’s terms and conditions.
  4. Verify your email: After you’ve registered, Luno will send you an email to verify your email address. Click on the link in the email to confirm your email address.
  5. Verify your identity: To start using Luno, you will need to verify your identity. This is to comply with anti-money laundering regulations. To do this, you will need to provide a copy of your ID or passport and a selfie. Follow the instructions on the Luno website to complete the verification process.
  6. Fund your account: Once your account is verified, you can fund it by depositing funds via bank transfer, credit card, or other payment methods supported by Luno.
  7. Start trading: With your account set up and funds deposited, you can start trading on the Luno exchange. Simply log in to your account and navigate to the trading section.

By following these simple steps, you can easily set up a Luno account and start trading cryptocurrency.

Luno Fees and Charges

Luno is known for its transparent fee structure, which can help users to easily calculate the cost of their trades.

Overview of Luno’s fees and charges

  • Luno charges a small fee for every trade made on the platform. Maker fees are 0% and Taker fees start at 0.10% and go lover with increasing trading volume.
  • There are no fees for depositing ZAR via EFT (online transfer), but there is a fee of R20 plus 5% for cash deposits.
  • Instant EFT (online transfer) transactions incur a fee of 1.4%.
  • Withdrawal fees vary depending on the cryptocurrency being withdrawn. ZAR withdrawal via EFT are free.

Comparison of Luno’s fees with other exchanges

  • Compared to other cryptocurrency exchanges, Luno’s fees are relatively low.
  • Luno’s taker fees start at 0.10% and decrease as trading volume increases.
  • Maker fees on Luno are 0%, making it one of the most attractive exchanges for those looking to trade with low fees.
  • By offering a simple and transparent fee structure, Luno aims to make cryptocurrency trading accessible to everyone.

Luno Crypto Exchange Platform

As one of the leading cryptocurrency exchanges in the world, Luno provides a user-friendly and secure platform for buying and selling cryptocurrencies. With an emphasis on accessibility and ease of use, Luno has gained a reputation for being an excellent entry point for first-time crypto buyers.

luno platform

Luno Exchange Platform (source: luno.com)

Here’s an overview of the Luno exchange platform and how to use it.

Overview of Luno’s exchange platform

Luno’s exchange platform is designed to be intuitive and user-friendly. The platform provides a variety of tools and features to help traders make informed decisions, including real-time market data, customizable charts, and order books. Additionally, Luno provides a range of educational resources to help users learn about cryptocurrencies and how to trade them.

Luno currently supports several major cryptocurrencies, including Bitcoin, Ethereum, Litecoin, Bitcoin Cash, and XRP. Users can buy and sell these cryptocurrencies using several different payment methods, including bank transfers, credit cards, and debit cards.

How to buy and sell cryptocurrencies on Luno

Buying and selling cryptocurrencies on Luno is a straightforward process. Here’s a step-by-step guide on how to do it:

  1. Log in to your Luno account
  2. Click on the “Buy” or “Sell” tab
  3. Choose the cryptocurrency you want to buy or sell
  4. Enter the amount you want to buy or sell
  5. Choose the payment method you want to use
  6. Confirm the details of your trade
  7. Click “Buy” or “Sell”

It’s important to note that Luno charges a fee for each trade. Taker fees are based on the volume of the trade, while maker fees are 0%. Luno’s fees are competitive compared to other exchanges, and the platform provides transparent fee structures so that users can make informed decisions.

Luno also provides a range of security features to protect users’ funds, including two-factor authentication, SSL encryption, and offline storage for the majority of funds. With a focus on accessibility, user-friendliness, and security, Luno’s exchange platform is an excellent choice for both new and experienced cryptocurrency traders.

Luno Wallet App

Cryptocurrencies require a secure place to store, send, and receive funds, and Luno offers its own wallet app to provide users with a seamless experience. Here is a detailed look at the features, benefits, and drawbacks of Luno’s wallet app.

Overview of Luno’s Wallet App

The Luno wallet app is a free mobile app available for both Android and iOS devices. It enables users to send, receive and store cryptocurrencies in a simple and user-friendly way. Luno wallet supports multiple cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, Litecoin, and Ripple.

Luno Wallet App

Luno wallet (source: luno.com)

Features and Benefits of the Luno Wallet

The Luno wallet app comes packed with features that make it a popular choice for crypto enthusiasts. Some of its features include:

  1. Security: Luno wallet is built with high-security standards to keep your funds safe from potential threats. The app uses two-factor authentication (2FA) to secure your account, ensuring that only you can access your funds.
  2. User-friendly interface: Luno wallet is designed to be easy to use, even for beginners. The app’s intuitive interface makes it simple to buy, sell, and store cryptocurrencies.
  3. Multi-currency support: Luno wallet supports several cryptocurrencies, providing users with a range of options to store their digital assets.
  4. Accessibility: The app is available for download on both Android and iOS devices, providing users with easy access to their funds at any time.

In-depth Review of Luno’s Wallet App

Luno wallet app has received praise for its security, ease of use, and multi-currency support. Users appreciate the ability to buy and sell cryptocurrencies directly within the app, as well as the option to transfer funds to other Luno users for free.

However, some users have raised concerns about the lack of control over private keys. Luno controls the private keys of users’ wallets, which means that users have to trust Luno to secure their funds. This can be a concern for users who prefer to have full control over their private keys.

Pros and Cons of Using Luno as a Wallet

Pros:

  1. Security: Luno wallet uses high-security standards, such as 2FA, to keep user funds secure.
  2. Multi-currency support: The wallet supports several cryptocurrencies, providing users with a range of options to store their digital assets.
  3. Easy to use: Luno wallet is designed to be user-friendly, even for beginners.

Cons:

  1. Lack of control over private keys: Luno controls the private keys of users’ wallets, which can be a concern for some users.
  2. Limited cryptocurrency support: While Luno wallet supports multiple cryptocurrencies, the selection is still relatively limited compared to other wallets.

In summary, Luno wallet app is a secure, easy-to-use, and multi-currency wallet that is accessible on both Android and iOS devices. While users must trust Luno to secure their private keys, the app’s features and benefits make it a popular choice for storing and managing cryptocurrencies.

Luno Trading App

Luno offers a mobile app for traders who want to buy and sell cryptocurrencies on the go. The Luno Trading App is available for both iOS and Android devices, making it accessible to a wide range of users.

Overview of Luno’s Trading App

The Luno Trading App allows users to trade Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH) directly from their mobile devices. The app features a user-friendly interface that provides real-time market data and charts, making it easy for users to monitor market trends and make informed trading decisions.

Features and Benefits of the Luno Trading App

The Luno Trading App is designed to make trading simple and accessible for all users. The app provides real-time price alerts, which can help users stay up-to-date on market movements and make informed trading decisions. Additionally, the app features a simple and intuitive order management system, which allows users to easily manage their trades and track their trading activity.

The Luno Trading App also includes a range of advanced trading tools, such as limit orders and stop-loss orders, which allow users to set specific entry and exit points for their trades. These tools can be particularly useful for advanced traders who want more control over their trading strategies.

Another benefit of the Luno Trading App is that it provides users with access to the Luno Exchange, which offers competitive trading fees and a wide range of trading pairs. The app also provides users with access to the Luno Wallet, which can be used to store and manage their cryptocurrency holdings.

Overall, the Luno Trading App is a great option for users who want to trade cryptocurrencies on the go. The app’s user-friendly interface, real-time market data, and advanced trading tools make it a powerful platform for both beginner and advanced traders.

Luno Cryptocurrency Exchange Review

Luno has established itself as a reputable platform for buying, selling, and storing cryptocurrency, boasting over 8 million users across 40 countries. In this section, we will provide an in-depth review of Luno as a cryptocurrency exchange and wallet, as well as the pros and cons of using Luno for your cryptocurrency transactions.

In-depth review of Luno as a cryptocurrency exchange

Luno offers a simple and user-friendly platform for buying, selling, and storing cryptocurrency. It provides access to popular cryptocurrencies such as Bitcoin, Ethereum, Litecoin, and XRP, as well as smaller altcoins.

Luno’s Exchange offers competitive trading fees, and they offer market, limit, and stop orders to make trading easier. Users can also set price alerts and access detailed charts to monitor the market.

Pros and cons of using Luno for cryptocurrency transactions

Pros:

  • User-friendly interface for buying, selling, and storing cryptocurrency
  • Competitive trading fees on Luno Exchange
  • Access to a range of popular cryptocurrencies
  • High level of security for storing your funds on Luno Wallet
  • Two-factor authentication and encryption to protect your funds
  • User reviews and ratings suggest high satisfaction with Luno’s services

Cons:

  • Limited range of cryptocurrencies compared to some other exchanges
  • Some users may not like the verification process to access higher trading limits
  • Withdrawal fees can be high depending on the cryptocurrency
  • Some users may not like the fact that Luno stores their private keys, meaning that users do not have full control of their funds.

User Reviews

As of writing, Luno has a rating of 3.9 based on ‎111,121 votes on Google Play, and a rating of 4.3 based on ‎3,424 reviews on Apple Store. Many users praise Luno’s easy-to-use interface and fast customer service, while others appreciate the platform’s competitive fees and wide range of payment options. Some users have expressed concern over high withdrawal fees, limited cryptocurrency options, and slow verification times. Overall, user reviews suggest that Luno is a reliable and user-friendly platform for buying, selling, and storing cryptocurrency.

Luno Withdrawal and Deposit

Luno provides its users with a variety of deposit and withdrawal options to make the process of funding and withdrawing from their accounts as seamless as possible. In this chapter, we will explore the different methods of depositing and withdrawing funds on Luno, as well as the associated fees.

How to Withdraw and Deposit Funds on Luno (FIAT)

To withdraw funds on Luno, users must log in to their account and select the “Withdraw” option from the “Wallets” page. From here, users can choose the cryptocurrency they wish to withdraw, enter the amount, and select their preferred withdrawal method. In South Africa, Luno currently supports SEPA Transfer as the only withdrawal method, which incurs a fee of 0.3 EUR.

To deposit funds, users can select the “Deposit” option on the “Wallets” page and choose their preferred deposit method. Luno supports deposits through Credit/Debit Card and SEPA Transfer, which are both free. However, it’s important to note that deposits and withdrawals can be made in ZAR, EUR and few other FIAT currencies.

Deposits and Withdrawals through Cryptocurrencies

Luno also offers its users the option to deposit and withdraw funds using cryptocurrencies. Deposits and withdrawals through cryptocurrencies are free, and users only need to pay the network fees associated with each transaction.

Overview of Luno’s Deposit and Withdrawal Methods

Luno offers its users a variety of deposit and withdrawal methods to suit their preferences. In South Africa, Luno currently supports deposits through Credit/Debit Card and SEPA Transfer, while SEPA Transfer is the only supported withdrawal method. Deposits and withdrawals through cryptocurrencies are also available and are free of charge, except for the network fees associated with each transaction.

In summary, Luno’s withdrawal and deposit options provide users with the flexibility to fund and withdraw from their accounts using a variety of payment methods. However, it’s important to note that each method carries its own fees, and users should review the fees associated with their preferred method before transacting.

Luno Funding and Investment

Luno, one of the most trusted and popular cryptocurrency exchanges, offers various funding options for users. Details about funding methods and step-by-step guide how to fund your account is described in previous chapter.

Luno supports multiple deposit methods, including bank transfer, debit/credit card, and cryptocurrency deposits.

Here are some of the investment options available on Luno:

  1. Buying and Holding: One of the simplest and most popular investment strategies is buying and holding. You can purchase Bitcoin or other cryptocurrencies on Luno and hold them for the long term. Many investors believe that cryptocurrencies like Bitcoin have long-term potential and may appreciate significantly in value over time.
  2. Luno Exchange: Luno also offers a cryptocurrency exchange, where you can trade various cryptocurrencies against fiat currencies or other cryptocurrencies. You can buy or sell Bitcoin, Ethereum, XRP, and other popular cryptocurrencies on the Luno exchange.

It’s important to remember that investing in cryptocurrencies is inherently risky, and you should only invest what you can afford to lose. It’s also a good idea to do your own research and seek professional financial advice before investing in cryptocurrencies.

In conclusion, Luno offers various funding options, investment opportunities, and features for its users. But still it is not as much options as many other cryptocurrency exchanges.

Luno in South Africa

Luno is a cryptocurrency exchange platform that has gained popularity in South Africa due to its user-friendly interface and convenience. As a South African-based exchange, Luno has been serving the South African market since 2013, and its headquarters are located in Johannesburg. The exchange has gained a reputation for being a trusted and secure platform for buying, selling, and storing cryptocurrencies, including Bitcoin and Ethereum.

Overview of Luno’s presence and impact in South Africa

Luno has been making an impact in South Africa’s cryptocurrency market since its inception. As of 2023, Luno has over 8 million registered users globally, and the majority of them are in South Africa. Luno has partnered with major South African banks, including FNB, Standard Bank, and Nedbank, to enable users to fund their Luno accounts directly from their bank accounts. This integration has made it easier for South Africans to buy and sell cryptocurrencies without the need to go through a third-party payment provider.

Benefits and opportunities for South African users

Luno has become a popular choice for South African cryptocurrency enthusiasts due to the range of benefits it offers. Luno’s exchange platform allows users to buy and sell cryptocurrencies instantly and securely, making it ideal for both beginners and experienced traders. With Luno, South Africans have the opportunity to diversify their investment portfolios and potentially profit from the high volatility of the cryptocurrency market.

Furthermore, Luno’s user-friendly interface and exceptional customer support make it easy for South Africans to navigate the complex world of cryptocurrency trading. The exchange offers a range of deposit and withdrawal methods, including bank transfers, credit/debit cards, and cryptocurrency, making it easier for users to fund their accounts and withdraw their funds.

In addition, Luno has been actively involved in promoting cryptocurrency education in South Africa, with initiatives such as the Luno Learning Portal. The platform offers educational resources and tools to help users understand the basics of cryptocurrency and how to trade them safely and effectively.

Overall, Luno’s presence and impact in South Africa have been positive, with the exchange offering a convenient and secure way for South Africans to enter the cryptocurrency market. With its user-friendly interface, low fees, and excellent customer support, Luno is a top choice for South African investors looking to profit from the cryptocurrency market.

Conclusion: Is Luno the Right Crypto Exchange and Wallet for You?

Luno is a well-established cryptocurrency exchange and wallet that provides users with a secure and easy-to-use platform to buy, sell, and store cryptocurrencies. In this guide, we have covered the essential features and services offered by Luno, and we hope it has provided valuable insights for new and experienced cryptocurrency users.

Summary of Luno’s features, benefits, and drawbacks Luno offers various features and benefits that make it an attractive option for cryptocurrency investors. Some of its benefits include:

  • User-friendly platform: Luno has a simple and intuitive user interface that makes it easy for beginners to navigate and use the platform.
  • High-security standards: Luno prioritizes the security of its users’ funds and data, implementing various measures to ensure maximum protection.
  • Wide range of cryptocurrencies: Luno supports various cryptocurrencies, including Bitcoin, Ethereum, Bitcoin Cash, and Litecoin, making it easy for users to diversify their portfolio.
  • Availability in multiple countries: Luno is available in over 40 countries worldwide, making it a convenient choice for international cryptocurrency traders.

Despite its advantages, Luno also has some drawbacks that users should consider. These include:

  • Limited payment options: Luno only accepts a few payment methods, which could be a challenge for users who prefer to fund their accounts using other payment options.
  • Limited availability of some cryptocurrencies: Although Luno supports various cryptocurrencies, some popular tokens such as Ripple and Dogecoin are not yet available on the platform.

Final thoughts on whether Luno is the best choice for your cryptocurrency needs Overall, Luno is a reliable and secure platform that offers a convenient and user-friendly experience to cryptocurrency investors. It provides essential features and benefits to traders, making it an excellent choice for beginners and experienced investors alike. However, it may not be the best option for users looking for a wide range of payment methods or a more extensive selection of cryptocurrencies. Ultimately, the decision to use Luno should depend on your specific cryptocurrency needs, preferences, and priorities.

Expert score

6.9Expert Score
Luno is a global cryptocurrency exchange and wallet platform that allows users to buy, sell, and store various cryptocurrencies, including Bitcoin, Ethereum, and Litecoin. Founded in 2013, Luno is one of the oldest cryptocurrency exchanges in the world and has gained popularity for its user-friendly interface and emphasis on security. Luno operates in over 40 countries, including South Africa, the UK, and Singapore, and has over 8 million registered users.
Offer range
3
Credibility/Security
9
Platform
8
Customer service
7.5
PROS
  • User-friendly and intuitive interface
  • Offers mobile app for convenient trading and management of crypto assets
  • Low fees for trading and depositing cryptocurrencies
  • Strong security measures to protect users' assets
CONS
  • Limited payment options for deposit and withdrawal in some regions
  • Low number of cryptocurrencies
  • Limited features for advanced traders and investors
  • Customer support can be slow to respond in some cases
  • Not available in all countries

User Reviews

There are no reviews yet.

Be the first to review “Luno”

Your email address will not be published. Required fields are marked *

Risk Disclosure: The information provided on this website is intended for general informational purposes only and should not be considered as financial advice, investment recommendations, or an endorsement of any particular investment product or service. Trading forex, cryptocurrencies, and other investment products carries a high level of risk and may not be suitable for all investors.

 

This website may contain links to third-party websites, which are provided for your convenience and information. We are not responsible for the content, accuracy, or reliability of these external sites and do not endorse or guarantee any products or services offered therein. It is your responsibility to carefully review the terms and conditions, privacy policies, and risk disclosures of any third-party websites before engaging in any transactions or investments.

 

By using this website, you acknowledge and agree that you have read, understood, and accept this Risk Disclosure in its entirety and that you are solely responsible for any investment decisions you make.

 

At Compape, we strive to provide our users with the most accurate, reliable, and up-to-date information on forex/CFD brokers and crypto exchanges. To maintain our website and continue offering valuable content to our users, we may receive compensation through affiliate links on our site. This means that when you click on some of the links on our website and sign up or make a purchase, we may receive a commission at no additional cost to you.

 

Please note that our affiliate partnerships do not influence our reviews, comparisons, and educational content. Our priority is to remain unbiased and transparent in all our recommendations. We maintain a strict editorial policy to ensure the quality and integrity of our content, and we always put our users’ best interests first. Your trust is our top priority, and we are committed to providing you with reliable information to help you make informed decisions in the world of forex, CFD, and crypto trading.

 

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 72% – 89% of retail investor accounts lose money when trading CFDs.You should not risk more than you are prepared to lose. Please ensure you fully understand the risks associated with the product and read our full risk disclosure statement.

TOP 10 CRYPTOCURRENCIES

Add to compare

Binance

Add to compare

Binance

Use code "VZPAVQ2T" during registration to reduce fees on Binance by 20%.
Add to compare

Coinbase

Add to compare

Kraken

Add to compare

Easy Crypto

Add to compare

Luno

Deposit and buy €250 in any crypto and get €25.00 free BTC
Add to compare

Valr

10% rebate on your trading costs, up to a cap of approximately $100 in value

TOP 10 FOREX / CFD

Add to compare

Binance

Add to compare

Binance

Use code "VZPAVQ2T" during registration to reduce fees on Binance by 20%.
Add to compare

Exness

Add to compare

IC Markets

Add to compare

Coinbase

Add to compare

AvaTrade

Add to compare

Kraken

Add to compare

XM Global

$30 no deposit bonus and 50% deposit bonus
Add to compare

Plus500

Add to compare

Easy Crypto

Add to compare

Luno

Deposit and buy €250 in any crypto and get €25.00 free BTC

TOP 5 TAGS

Compape
Logo
Compare items
  • Total (0)
Compare
0
Shopping cart