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Luno buy sell bitcoin wallet review

Luno wallet

8.2

Rating

8.2/10

Pros

  • Easy to use
  • Multilanguage website
  • Trusted company

Cons

  • No private key wallets
  • fee not really intuitive

Luno wallet could be a Bitcoin and Ethereum exchange aimed primarily at developing countries like Federal Republic of Nigeria, country and Malaya. Luno review outline Luno could be a cryptocurrency exchange aimed primarily at rising markets. Luno offers Bitcoin services to countries like Malaya, Federal Republic of Nigeria and country that area unit sometimes not allowed on most Bitcoin exchanges.

About Luno wallet

Established in 2013 originally as BitX and rebranded to Luno in 2016, Luno has offices in three cities round the world – London, city and Singapore. the corporate serves over a pair of million users from over forty countries worldwide and has over a hundred staff. the corporate is predicated within the kingdom and has raised over $13m from distinguished investors like Ventura Capital and Digital Currency cluster.

Luno services

Luno offers many services for its users together with a cryptocurrency commerce platform, a brokerage service, a Bitcoin billfold associated an API for developers. Your Luno account is controlled through an easy dashboard that offers you access to completely different sections like the moment purchase / sell service, account reports, settings, etc.

Luno exchange platform

Luno offers a Bitcoin to act commerce platform for its users. The platform provides users with options like advanced charting, API access for automatic commerce, varied indicators and comprehensive reportage. Luno’s commerce volume at its commerce platform is quite small, comparison to alternative commerce platforms around. this is often most likely because of the very fact that the positioning serves primarily guests from developing markets. The fee structure for the exchange is pretty competitive primarily for market manufacturers.

Luno buy sell bitcoin ethereum

Like several alternative exchanges out there, Luno offers a “simple” thanks to purchase Bitcoin or Ethereum while not the necessity to use to confusing commerce platform. Luno simplifies the shopping for method by marketing you the coins directly and charging a premium fee for his or her services. what quantity fee? It’s laborious to inform. Fees vary between country and get quantity thus each dealings can find yourself having a special fee. That’s a small amount of a draw back in my opinion, and if you are doing find yourself exploitation this service, ensure to check the fees.

Luno mobile app

Luno offers a Bitcoin wallet for iOS and android which will be paired to your Luno account. This offers you bigger flexibility to access your Luno account on the go, but it additionally means you’re not au fait over your Bitcoins. The coins in your billfold area unit below Luno’s management and you can’t get access to the non-public key / seed of your Bitcoins if you required to.

Luno currencies and payment strategies

Luno supports buy and sell of the subsequent cryptocurrencies:

  • Bitcoin (BTC)
  • Ethereum (ETH)

Luno accepts the subsequent act fiat currencies:

  • Euro (EUR)
  • Indonesian Indonesian monetary unit (IDR)
  • Malaysian Malaysian monetary unit (MYR)
  • Nigerian Nigerian monetary unit (NGN)
  • South African Rand (ZAR)

Luno accepts the subsequent payment methods:

  • Debit / mastercard (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)

Keep in mind that {different|totally completely different|completely different} payment strategies have different fees incorporated at intervals them, thus ensure to check before finishing a deposit. curiously enough, credit and positive identification deposits area unit freed from charge with Luno, whereas at the most alternative exchanges you’ll be able to be charged up to five.

Luno fees

Luno has the subsequent fees related to its services:

  • Deposit fees (for sure payment methods)
  • Transaction fees (only for takers)
  • Withdrawal fees
  • Sending / Receiving fees from your Luno account to alternative Bitcoin addresses

Transactions area unit supported a taker maker fee schedule (you will read/watch an in depth clarification that here). manufacturers don’t pay something whereas takers will find yourself paying anyplace between zero.25%-1% looking on the currencies they’re commerce.

It’s vital to notice that if you utilize Luno’s ‘instant buy’ feature, fees can vary looking on your country and quantity of purchase. ensure to check before finishing the dealings thus you don’t find yourself paying over you meant.

Luno buy limits

Deposit limits rely on your account verification level:

  • Level zero (email verification) – can’t deposit / withdraw act the least bit
  • Level one (phone verification) – will deposit / withdraw up to one thousand Euros in total
  • Level a pair of (ID verification) – will deposit / withdraw up to 5000 Euros per month
  • Level three (proof of residence) – will deposit / withdraw up to a 100,000 Euros per month

If you’re exploitation the ‘instant buy’ feature you furthermore may have limits on what quantity Bitcoin / act you’ll be able to stock every order you submit. for instance – you’re restricted to disbursement up to eight,000 EUR per order.

 

Conclusion – Is Luno Trustworthy?

To add things up, it looks Luno has found their niche within the rising markets. the corporate is very targeted on the most cryptocurrencies in countries that area unit sometimes unnoticed by most alternative exchanges.

The website is solid, provision users with all of the fundamentals for purchasing or commerce cryptocurrencies. swing the restricted geo accessibility aside (as this is often a lot of of a feature than a downside), the sole factor I’d look out for is that the dynamic fee schedule. Since every country and action you’re taking on the positioning has completely different fees, it’s vital to create certain you don’t find yourself overpaying as a result of a hidden fee.

Address

Luno Pte. Ltd. (2012 0954 5R) was founded in 1 Coleman St. Singapore.

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