Luno Review: Fees, Pros, Cons and More 2025

Withdrawal and deposit fees at Luno depend on the amount and type of fiat currency you use. UK-based traders who deposit their cryptocurrency using bank transfers in GBP do not have to pay a deposit fee. This availability provides an opportunity for US-based traders and investors to engage in buying, selling, and storing various digital assets offered by Luno. Luno is a great alternative to other US-based exchanges like Coinbase. Buy/Sell – Luno allows users to buy and sell Bitcoin, Ethereum, and other cryptocurrencies with their local currency.

Always check the exchange’s official site for the most accurate and region-specific deposit information. For a $10,000 withdrawal, Luno charges $150–$200, compared to just $5–$20 on other exchanges. Overall, while the app excels in ease of use and functionality, adding a search functionality could enhance the user experience further. The fees were minimal, and the transaction was completed in less than 4 minutes. The location a user selects determines the type of services they get from Luno.

Luno Customer Support

Luno maintains a high level of transparency in its communications with users. It offers clear information about its services, fees, and company operations, including details about its founders and team. Luno doesn’t offer much to US-based users, as they aren’t able to trade on the exchange and can only buy and sell BTC and ETH through the instant buy feature.

• The second interface provides a full-fledged advanced trading platform experience.
• Signing up for a Luno account is very simple, but verifying your account may take a couple of days.
• Wallet keys are generated offline and offsite, and Bitgo Custody and Fireblocks manage the keys.
• Luno’s Discover section also features an insights section, which provides users with in-depth analysis of different cryptocurrencies and the overall market trends.
• An honest review of Luno, a promising crypto exchange where users can buy Bitcoin, Ethereum, Litecoin, and more.

Cryptos (

Judging from my experience so far, Luno has come to stay especially in countries overlooked by exchanges like Coinbase. There are several reasons why this could occur – it could be verification limit restriction, deposit from a bank account that does not bear the same name as the owner of the Luno account, etc. So far, you will notice that I have only mentioned certain fiat currencies. The answer was that the Team only wants to support cryptocurrencies with the strongest integrity that is why they take time to include a new coin. Luno API gives developers access to perform certain actions on their Luno account through another platform; this can be automated trading, generating BTC addresses, sending and receiving, etc.

Luno was established in Cape Town but has quickly expanded beyond South African borders. Luno’s philosophy centers around giving users control over their crypto journey with tools and insights they need for informed decision-making. Bybit’s CEO has confirmed that the cryptocurrency exchange is exploring all options to stay in the United Kingdom ahead of the new financial promotion changes. This fee is on point with, or even slightly below, the global industry average. Even more attractive, however, is the trading fee for makers offered at Luno. This fee model promotes the liquidity at the exchange, as the people creating new orders on the exchange are rewarded by not having to pay any trading fees.

Operates in Fewer Countries

Luno trading provides an atmosphere of spaciousness reminiscent of the rear footwell of a vehicle converted to a cozy sleeping area by using its Air Mattress. I have never gotten scammed like another crypto wallet that blocks their user access and never gives their hard-earned money to their user. Please use this wallet as much as possible if you want to keep your crypto safe. These revenue streams allow us to remain financially independent of advertisers, enabling us to provide all services with maximum transparency. Among the financial service providers, there are fraudsters that we promptly report.

Supported Cryptocurrencies and Trading Pairs

Luno claims to follow industry-standard practices, including 2FA, cold storage for most digital assets, and encryption to protect user funds and data. However, its rating of BB from CryptoCompare and CCC from luno exchange review CER leaves room for improvement. Overall, Luno is for crypto traders who are content to buy and trade a few major coins like BTC and ETH, as the platform doesn’t offer many coins or sophisticated services.

• Despite these limitations, the Bitcoin order book appears to be relatively healthy for BTC/ZAR trading pairs, allowing for larger transactions with minimal price impact.
• They are also trying to find a solution for instant bank payments from a number of European banks.
• While the platform primarily focuses on popular coins, it also supports a few niche options like Chainlink (LINK) and Uniswap (UNI), catering to a mix of traditional and DeFi traders.
• Verve cards are not international cards, they are restricted for use in Nigeria alone.
• He graduated from the University of California, Santa Barbara with a bachelor’s in philosophy and carries a deep passion for a first-principles approach to investing and education therein.
• Anyone who has been in the crypto space for a few months will be familiar with the fact that this sector is much more than merely an investment market.

Trading Experience

However, when your crypto coins are kept in an exchange account, you don’t possess their cryptographic keys. Moreover, this wallet gives you a unique wallet address needed to interact with the blockchain networks that Luno supports. Luno is a solid exchange but there are several other crypto exchanges that offer wide variety of coins, low trading fees and user-frienldy interface. In summary, users should ensure their preferred fiat currency and payment method are supported.

To sum up, Luno stands out as a user-friendly platform for buying, selling, and securely storing popular and solidified cryptocurrencies. Its emphasis on safety and being regulated across its operating countries adds to its credibility. The platform’s simplicity and intuitive design make it a great choice, especially for beginners. However, if simplicity and ease of use are what you value most, Luno remains a great choice. It offers a streamlined experience for managing your crypto, and your assets are accessible via the Luno app or website. Moreover, for those interested in staking their crypto to earn rewards, Luno doesn’t currently support this feature, too (or many other earning features, for that matter).

Opening an Account and Trading

Luno is an acceptable choice for casual traders due to its beginner-friendly interface and simple account setup. Luno is a popular trading platform that operates in several developing countries, SEPA payment areas, and the US. It allows users to trade seven cryptocurrencies, including major coins like Bitcoin and Ethereum, and offers around 25 trading pairs. Binance is known for a comprehensive platform with a wide array of features, while Luno is often favored for its user-friendly interface and services tailored to specific markets. Users should consider factors like security, fees, supported currencies, and customer support when deciding between the two.