Luno Cryptocurrency Exchange Review : Pros & Cons

About Luno Cryptocurrency Exchange

Luno is the simple crypto investment app for everyone. We make it safe and easy to explore, buy and store crypto – no experience needed. mission is to put the power of cryptocurrency in everyone’s hands. That means cutting through the hype and helping you to decide for yourself. We make big ideas simple and never use jargon. A guide at every step, we’re here for your questions, because there’s a lot to make sense of. For a financial system to be fair, everyone needs to understand it.

Information Table

How To Register At Luno Exchange?

To register on CrossTower , click Register Now button at the top of the page. You can also start creating an account directly through the form on the main page.

You only need to enter your e-mail and come up with a password. If there is a referral code, it is also entered at this stage. Password requirements: at least 8 characters, numbers, upper and lower case.

Click ” Create Account ” then go to your email to verify it. Enter the code you received and registration is complete. You can start replenishing your account.

How To Verify Your Luno Cryptocurrency Account ?

There is no mandatory verification at Luno but you can pass it if you wish. At the moment, the only restriction imposed on unverified users is the withdrawal limit of Free. In the future, depending on the actions of regulatory authorities, conditions may change.

For verification, you can use one of four documents to choose from: passport, driver’s license, identity card or residence permit. Artificial intelligence is used to evaluate the authenticity of documents. This service is provided by the Onfido online identification service, already used by the CrossTower , Revolut platforms.

How To Buy Crypto Or Deposit Crypto At Luno Crypto Exchange?

There are two main options for topping up your balance on Luno Firstly, you can buy cryptocurrency with a bank card – it’s fast and convenient. Go to the ” Buy crypto ” -> ” Buy crypto with a credit card ” section.

Choose a cryptocurrency (currently there are 13 coins available for purchase in this way). Enter the amount and select the fiat currency to be used for payment.

After that, you will need to select a payment channel: each of them has conditions. You can choose between Simplex, Mercuryo, Banxa and Moonpay. Click ” Buy ” next to the appropriate option.

Agree to the terms and confirm the transition to the site of the payment provider. Enter information about the card and its owner, confirm the transaction. Cryptocurrency will be credited to the exchange account within a few minutes.

Second Method

You can transfer digital assets to the balance of the exchange from any external crypto wallet. For this:

• Go to the “Deposit” section from the “Assets” menu.

• From the drop-down list, you can select the cryptocurrency you want to deposit into your account.
• The wallet address will appear. You need to copy it and send funds to it from another wallet or exchange. Please note that only bitcoin can be sent to bitcoin addresses, similarly with other coins.
• You can also click “Show QR code” – for transfers from a mobile wallet, this is a more convenient option.

How To Withdraw Crypto Asset From Luno Exchange ?

Having completed all the necessary trading operations, it’s time to withdraw the received assets to an external wallet. Go to ” Assets ” -> ” Withdraw “. Please note that the operation is only available after enabling two-factor authentication in the settings. This is for added security and requires less than a minute, so don’t neglect this measure.

Select a cryptocurrency and enter the withdrawal amount. Each coin has its own withdrawal fee, for example, for BTC it is 0.00057 BTC. Click ” Output “. By default, the exchange processes applications three times a day, however, hourly withdrawals are available for Premium users. Also, the time of receipt of the cryptocurrency is affected by the workload of the blockchain network.

How To Secure Your Luno Account ?

Also remember to go to the Security tab and activate two-factor authentication using the Google Authenticator app – this is the most reliable way to prevent unauthorized access to your account.

Fees taken when buying virtual currency

As a buyer, you get exactly what you see on your trade page. No additional fees are taken so you get the full BTC amount shown on the page. This does not necessarily match what you wallet considers to be the “BTC price”, nor the price of any other markets. Bittylicious makes money by charging sellers on the system a small fee to use the Bittylicious platform, so only sellers get charged a fee.

Compare to other markets if you want a real comparison, and also bear in mind that include withdrawal fees in each transaction whereas almost every other site else doesn’t. In particular, please check out the section marked Small Trades which explains that small trades have a higher comparative cost because of large network fees, and these are outside Bittylicious’s control.

Features Of Luno Crypto Exchange

Available At Android & IOS Store

Luno Cryptocurrency Exchange exchange application available on both world famous mobile store google play store and iOS store . You Can download App and start trading.

Convenient Payment Methods

Luno accepts a wide range of payment methods, including UK bank transfers, debit cards, and credit cards.

Trading Pairs:

Luno supports a wide range of trading pairs, including BTC, ETH, USDT, USDC, and more. This allows traders to access a variety of cryptocurrencies and trade them against each other.

Low Trading Fees:

Luno charges low trading fees of just 0.03% for market makers and 0.07% for market takers. This makes it one of the most affordable exchanges on the market.

Lowest Costs

No-Fee Trading, trade crypto commission-free.

Liquidity

Our liquidity ensures the tightest spreads so that your crypto trades are executed as close to the price you want as possible, maximising your profits. Liquidity is driven by our low fees, high volume and many active traders.

Speed

Execute trades in microseconds without compromising reliability or security. Our low-latency trading platform has all the tools you need to make the most of market opportunities, whenever and wherever you are.

Ease

Enjoy an intuitive user experience designed for smooth, efficient trading. Luno is optimised for ease-of-use, offering simple order placement and high-quality charting tools to give you the best chance of success – whatever your experience level.

Trade on the go

Deposit, withdraw, and trade 24/7 on our mobile apps for Android and iOS, so you can experience professional-level crypto exchange features on the move.

Luno Conclusion

Luno is a reputable cryptocurrency exchange that offers a user-friendly platform for buying, selling, and storing cryptocurrencies. It is regulated by top financial authorities and has a strong track record of security and reliability. Luno supports a variety of popular cryptocurrencies and offers competitive fees and exchange rates. It also provides educational resources and customer support to help users navigate the world of cryptocurrency. Overall, Luno is a great option for anyone looking to get started with cryptocurrency trading or investing.