Seeing its genesis in 2013, Luno is a veteran in the cryptocurrency exchange world and has gone through plenty of changes over the years. At its birth, Luno was known as BitX, but rebranded in 2017. The exchange is based out of London, but has offices in Singapore and South Africa.
Though Luno has a small market capitalization in comparison to other veteran exchanges, it has built a great reputation for itself.
Luno offers its users trading service for Bitcoin, ETH, and a number of altcoins. Trading is primarily done through a web-based platform, which provides and a clean and easy-to-understand UI. For more seasoned users, the platform has advanced charts, real-time market feeds, trade history, CSV export and reporting and depth liquidity indicators. It also supports automated trading.
Luno launched an app a number of years ago, available on iOS and Android.
Alongside the app, Luno offers a mobile smart wallet. The wallet is free and offers zero fees on transactions, which is a great low-cost alternative for cryptocurrency traders.
Luno accepts most major fiat currencies. Deposits and withdrawals of these fiat currencies are only done through bank wire transfer or through your credit card. In addition, Luno also provides you with the option to purchase cryptocurrency directly with your credit card.
In terms of fees, the rates charged by Luno are considered as some of the most competitive in the cryptocurrency trading industry. Receipt and transmission of bitcoins through email addresses or telephone numbers does not incur any charges. From transactions through your Bitcoin wallet, the fee is 0.0002 BTC.
Luno has a number of security features in place, including cold storage, multi-sig hot wallets, and 2FA.
Customer support at Luno is basic, offering a help page and an email ticketing system. However, response times are speedy.
All in all, Luno is a great cryptocurrency exchange that offers a number of features for basic and advanced traders. Luno is also one of the few cryptocurrency exchanges that offers less traded fiat currencies such as the Indonesian rupiah, the Malaysian ringgit, and the Nigerian Naira. This fact has made Luno especially popular in Indonesia, Malaysia, and Nigeria.
Protecting Your Cryptocurrency And Staying Safe on Luno
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