Luno.com

Luno.com

Status: Paying

Overview: Buy Bitcoin, Ethereum, XRP and Litecoin

Alexa Traffic Rank: 23,445

Added: February 16, 2021 (updated February 16, 2021)

Luno.com Review

Luno.com has gained Average review votes. The total rating is 3 out of 5 based on 1 user vote

About Luno.com

Luno is a secure cryptocurrency wallet and exchange that makes it easy to buy, sell, store and trade cryptocurrencies like Bitcoin and Ethereum. It is a beginner friendly wallet/exchange that support buying/selling of BTC and ETH directly with your Bank Account.

Currently, Luno provides support to over 40 countries across Europe and Africa. You can check the list of supported countries here: luno.com/en/countries

Pros:

  1. Beginner Friendly: You basically don’t need to learn how to trade cryptocurrencies to buy and sell BTC/ETH.
  2. Work With Your Local Currency: Buying and selling of BTC/ETH are handled according to it current value in your local currency.
  3. Low Minimum Purchase: This varies depending on your country but generally after funding your Luno local currency wallet, you can purchase bitcoin or ethereum worth < $1.
  4. Fast Bank Transfer: Bank transfer is really swift, i once requested a bank transfer of my fund in my luno local currency wallet and i was told payment will be processed maximum of 3 days, surprisingly enough, I got paid the following day.
  5. Reasonable Fee: Service fee of Luno is pretty reasonable compared to what some none beginner friendly exchanges offer
  6. Nice Interface: Luno mobile wallet interface is very clean, intuitive and usable even for a beginner.
    7. Great Support: Support normally take few hours to respond to a ticket as long as it not on a weekend.

Cons:

  1. Limited Cryptocurrency Support: Currently only BTC and ETH can be sold/bought/traded using Luno, they were plans to add LTC in the past but for reasons unknown to me it was dropped.
  2. Limited Number Wallet Address: You are limited to the creation of 5 wallet addresses altogether (BTC & ETH)
  3. Ethereum Smart Contract Issue: Your ETH addresses are built with smart contract, so whenever you receive payment in any of your eth address, it gets transferred to a wallet with information associated with your luno account. So generally you can have multiple ETH Addresses that fund your Luno eth wallet. This is good but can really be an Issue with exchanges that doesn’t support sending eth to wallet with smart contract and might result in a failed transaction.

Luno also has a referral system in which if someone signup using your referral link, after the person makes certain amount of deposit both of you will get paid bonuses in your local currency.

Luno is a wallet i use and highly recommend especially if coinbase is not supported in your country, i generally see Luno as the Coinbase of Africa.

Is Luno.com paying, legit or scam?

The current status of Luno.com is Paying. Please let us know in the comment section about your experience. You can post your proof of payments too.

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