...

Luno Review 2021

This review probes Luno's safety by checking its regulation status and security measures imposed by the exchange. We also look at available trading platforms, the transaction fees, deposit and withdrawal options, and list all the supported countries and cryptocurrencies.

Author: Edith Reads Last updated: 06/10/2021

Summary

Luno is a cryptocurrency exchange that aims to provide the world with a better financial system. Founded in 2013, the company serves more than 05 million customers in nearly 40 countries around the world. Being a multipurpose exchange, it offers various services such as crypto trading, brokerage solutions, customized wallets, and developer APIs. With competitive pricing schedules and an easy-to-use intuitive trading interface, Luno is one of the best crypto exchanges available around, preferably for newbies.

Pros & Cons

We have listed some quick self-explanatory bullet points for you below. However, a little more briefing might help you understand them ironically.

Advantages of Luno

  • The sleekly designed intuitive trading interface
  • Digital wallet
  • Low fees schedules
  • Content-rich learning portal
  • Accepts fiat deposits

Disadvantages of Luno

  • No Regulations
  • Low liquidity
  • Available in few countries
  • No leverage
  • Slow deposit and withdrawal process

Pros

Cons

Regulations, Offices & Supported Countries:

Regulations

Luno is not a regulated exchange. However, the company follows  Countering the Financing of Terrorism (CFT) & Anti-Money Laundering (AML) guidelines in some of the geographical regions while dealing in cryptos.

Offices

Luno Pte. Ltd. (formerly known as BitX) has its head office in Singapore. The company operates with its seven regional offices across different regions of the world. Given below are the registered brand names, numbers, and registered addresses of physical locations worldwide.

Luno Pte. Ltd.

Head Office – Singapore

Registration No. 2012 0954 5R

Address: 5 Shenton Way, #10to01 UIC Building, Singapore

For EU Clients

Luno Money Limited

Regional Office – United Kingdom

Registration No. 10388856

Address: 3rd Floor, Paul Street, 86to90 London, EC2A 4NE.

For Non-EU Clients

Luno Malaysia Sdn.

Regional Office – Malaysia

Registration No.1136927 A

PT Luno Indonesia Ltd.

Regional Office – Indonesia

Registration No.4014111731102609

BitX Payments Limited

Regional Office – Nigeria

Registration No.RC1216337

Luno (Pty) Ltd.

Regional Office – South Africa

Registration No.2013/075107/07

Luno Technology Uganda Limited

Regional Office – Uganda

Registration No.80020001421135

Luno Technology Zambia Ltd.

Regional Office – Zambia

Registration No.120180009295

Luno Australia Pty. Ltd.

Regional Office – Australia

Registration No.631 915 476

Supported Countries

Luno is currently available in nearly 40 countries around the world. Given below is the table of supported countries. However, the exchange is continuously evolving and anticipates adding more countries to the list from where it will be accepting clients shortly.

Austria Belgium Bulgaria Canada Croatia
Cyprus Czech Republic Denmark Estonia Finland
France Greece Guernsey Hungary Iceland
India Indonesia Ireland Isle of Man Italy
Jersey Latvia Liechtenstein Lithuania Luxembourg
Malaysia Malta Monaco Netherlands Nigeria
Norway Poland Portugal Romania San Marino
Singapore Slovakia Slovenia South Africa Spain
Sweden Switzerland United Kingdom

Supported Coins :

Unlike other exchanges, Luno offers a limited selection when it comes to crypto trading. Until recently, the Luno was offering trading services in only two of the coins listed below, including Bitcoin and Ethereum. However, by adding a few more digital assets to the supported list, the total count has changed from two to five supported cryptocurrencies. The exchange also accepts fiat deposits in more than 10 currencies of the world.

Supported Cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Supported Fiat Currencies

  1. IDR – Indonesian Rupee
  2. EUR – European Euro
  3. MYR – Malaysian Ringgit
  4. NGN – Nigerian Naira
  5. ZAR – South African Rand
  6. SGD – Singapore Dollar
  7. UGX – Ugandan Shilling
  8. ZME – Zambian Kwacha
  9. AUD –  Australian Dollar
  10.  GBP – Great Britain Pound

Supported Crosses (Country Wise)

Note: Crypto-to-Crypto pairs and Bitcoin Cash (BCH) are not offered to Malaysian citizens at times. According to the information available on the website, the company will share the list as soon as they become available in Malaysia. 

Trading Fees:

Luno has a reasonable price charging mechanism. However, it might become confusing at times. We list all details concerning fee-charging schedules, so you know exactly how much does it cost to trade with Luno.

Please be informed that the Luno exchange fee may vary depending on certain factors, such as your geographical location, selected currency, and market liquidity levels. As mentioned earlier, Luno hosts variable charges for sending bitcoins to your wallets. The company names them as Proportional. The word proportional specifies that the fee is auto adjustable depending upon the traffic of the respective crypto network.

Also, if you receive Bitcoins or Ethereum through an address, you are likely to pay charges for that at Luno. However, the inflow of cryptos through the mobile app or via email id is free of charge.

Traders might also need to pay some charges on fiat withdrawals depending upon the country of transaction. The fee at Luno also varies between currency to currency and the size of trades.

Listed below is a country-wise tabular format so you understand the fee schedules more conveniently.

Note: You need to pay a trading fee based on your volume traded over the past 30 days. The exchange calculates your trading volume by adding up all of your trading activities across all the markets at Luno. The fee automatically gets converted to your local or base currency. The respective tier level will then evaluate the payable dues.

Trading fees for United Kingdom Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

GBP 0.00 – GBP 249,999.99

0.00% 0.10%
2 From – Up to

GBP 250,000.00 – GBP 499,999.99

0.00% 0.09%
3 From – Up to

GBP 500,000.00 – GBP 999,999.99

0.00% 0.08%
4 From – Up to

GBP 1,000,000.00 – GBP 1,999,999.99

0.00% 0.07%
5 From – Up to

GBP 2,000,000.00 – GBP 3,999,999.99

0.00% 0.06%
6 From – Up to

GBP 4,000,000.00 – GBP 7,999,999.99

0.00% 0.05%
7 From – Up to

GBP 8,000,000.00 – GBP 15,999,999.99

0.00% 0.04%
8 More than

GBP 16,000,000.00

0.00% 0.03%

Trading fees for European Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

EUR 0.00 to EUR 249,999.99

0.00% 0.10%
2 From – Up to

EUR 250,000.00 to EUR 499,999.99

0.00% 0.09%
3 From – Up to

EUR 500,000.00 to EUR 999,999.99

0.00% 0.08%
4 From to Up to

EUR 1,000,000.00 to EUR 1,999,999.99

0.00% 0.07%
5 From – Up to

EUR 2,000,000.00 to EUR 3,999,999.99

0.00% 0.06%
6 From – Up to

EUR 4,000,000.00 to EUR 7,999,999.99

0.00% 0.05%
7 From – Up to

EUR 8,000,000.00 to EUR 15,999,999.99

0.00% 0.04%
8 More than

EUR 16,000,000.00

0.00% 0.03%

Trading fees for Australian Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

AUD 0.00 to AUD 349,999.99

0.00% 0.10%
2 From – Up to

AUD 350,000.00 to AUD 699,999.99

0.00% 0.09%
3 From – Up to

AUD 700,000.00 to AUD 1,399,999.99

0.00% 0.08%
4 From – Up to

AUD 1,400,000.00 to AUD 2,799,999.99

0.00% 0.07%
5 From – Up to

AUD 2,800,000.00 to AUD 5,599,999.99

0.00% 0.06%
6 From – Up to

AUD 5,600,000.00 to AUD 8,399,999.99

0.00% 0.05%
7 From – Up to

AUD 8,400,000.00 to AUD 11,199,999.99

0.00% 0.04%
8 More than

AUD 11,200,000.00

0.00% 0.03%

Trading fees for Malaysian Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

MYR 0.00 – MYR 39,999.99

0.25% 0.50%
2 From – Up to

MYR 40,000.00 – MYR 199,999.99

0.20% 0.45%
3 From – Up to

MYR 200,000.00 – MYR 399,999.99

0.10% 0.40%
4 From – Up to

MYR 400,000.00 – MYR 999,999.99

0.00% 0.35%
5 From – Up to

MYR 1,000,000.00 – MYR 1,999,999.99

0.00% 0.30%
6 From – Up to

MYR 2,000,000.00 – MYR 3,999,999.99

0.00% 0.25%
7 From – Up to

MYR 4,000,000.00 – MYR 7,999,999.99

0.00% 0.20%
8 More than

MYR 8,000,000.00

0.00% 0.15%

Trading fee for Nigerian Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

NGN 0.00 – NGN 99,999,999.99

0.00% 0.10%
2 From – Up to

NGN 100,000,000.00 – NGN 199,999,999.99

0.00% 0.09%
3 From – Up to

NGN 200,000,000.00 – NGN 399,999,999.99

0.00% 0.08%
4 From – Up to

NGN 400,000,000.00 – NGN 799,999,999.99

0.00% 0.07%
5 From – Up to

NGN 800,000,000.00 – NGN 1,599,999,999.99

0.00% 0.06%
6 From – Up to

NGN 1,600,000,000.00 – NGN 2,399,999,999.99

0.00% 0.05%
7 From – Up to

NGN 2,400,000,000.00 – NGN 3,199,999,999.99

0.00% 0.04%
8 More than

NGN 3,200,000,000.00

0.00% 0.03%

Trading fees for Singapore Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

SGD 0.00 – SGD 349,999.99

0.00% 0.10%
2 From – Up to

SGD 350,000.00 – SGD 699,999.99

0.00% 0.09%
3 From – Up to

SGD 700,000.00 – SGD 1,399,999.99

0.00% 0.08%
4 From – Up to

SGD 1,400,000.00 – SGD 2,799,999.99

0.00% 0.07%
5 From – Up to

SGD 2,800,000.00 – SGD 5,599,999.99

0.00% 0.06%
6 From – Up to

SGD 5,600,000.00 – SGD 8,399,999.99

0.00% 0.05%
7 From – Up to

SGD 8,400,000.00 – SGD 11,199,999.99

0.00% 0.04%
8 More than

SGD 11,200,000.00

0.00% 0.03%

Trading Fees For South African Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

ZAR 0.00 – ZAR 4,999,999.99

0.00% 0.10%
2 From – Up to

ZAR 5,000,000.00 – ZAR 9,999,999.99

0.00% 0.09%
3 From – Up to

ZAR 10,000,000.00 – ZAR 19,999,999.99

0.00% 0.08%
4 From – Up to

ZAR 20,000,000.00 – ZAR 39,999,999.99

0.00% 0.07%
5 From – Up to

ZAR 40,000,000.00 – ZAR 79,999,999.99

0.00% 0.06%
6 From – Up to

ZAR 80,000,000.00 – ZAR 119,999,999.99

0.00% 0.05%
7 From – Up to

ZAR 120,000,000.00 – ZAR 159,999,999.99

0.00% 0.04%
8 More than

ZAR 160,000,000.00

0.00% 0.03%

Trading fees for Uganda Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

UGX 0.00 – UGX 999,999.99

0.00% 0.10%
2 From – Up to

UGX 1,000,000.00 – UGX 1,999,999.99

0.00% 0.09%
3 From – Up to

UGX 2,000,000.00 – UGX 3,999,999.99

0.00% 0.08%
4 From – Up to

UGX 4,000,000.00 – UGX 7,999,999.99

0.00% 0.07%
5 From – Up to

UGX 8,000,000.00 – UGX 15,999,999.99

0.00% 0.06%
6 From – Up to

UGX 16,000,000.00 – UGX 23,999,999.99

0.00% 0.05%
7 From – Up to

UGX 24,000,000.00 – UGX 31,999,999.99

0.00% 0.04%
8 More than

UGX 32,000,000.00

0.00% 0.03%

Trade fees for Zambia Customers

Tier(s) Traded Volume Maker(s) Taker(s)
1 From – Up to

ZMW 0.00 – ZMW 4,999,999.99

0.00% 0.10%
2 From – Up to

ZMW 5,000,000.00 – ZMW 9,999,999.99

0.00% 0.09%
3 From – Up to

ZMW 10,000,000.00 – ZMW 19,999,999.99

0.00% 0.08%
4 From – Up to

ZMW 20,000,000.00 – ZMW 39,999,999.99

0.00% 0.07%
5 From – Up to

ZMW 40,000,000.00 – ZMW 79,999,999.99

0.00% 0.06%
6 From – Up to

ZMW 80,000,000.00 – ZMW 119,999,999.99

0.00% 0.05%
7 From – Up to

ZMW 120,000,000.00 – ZMW 159,999,999.99

0.00% 0.04%
8 More than

ZMW 160,000,000.00

0.00% 0.03%

Trading Fees  For Indonesian Customers

Currency Tier – 1 Tier – 2 Tier – 3
IDR Less than

IDR 1,000,000,000.00

More than

IDR 1,000,000,000.00

More than

IDR 10,000,000,000.00

The trading fee might also depend upon your tier.

Markets Tier – 1 Tier- 2 Tier- 3
Maker Fees Taker Fees Maker Fees Taker Fees Maker Fees Taker Fees
BCH/BTC 0.00% 0.10% 0.00% 0.09% 0.00% 0.08%
BTC/IDR 0.00% 0.20% 0.00% 0.20% 0.00% 0.20%
ETH/BTC 0.00% 0.10% 0.00% 0.09% 0.00% 0.08%
ETH/IDR 0.00% 0.20% 0.00% 0.20% 0.00% 0.20%
LTC/BTC 0.00% 0.10% 0.00% 0.09% 0.00% 0.08%
XRP/BTC 0.00% 0.10% 0.00% 0.09% 0.00% 0.08%

Trading Platforms, Account Opening, and How to Buy Crypto:

Wallet

Hitting the wallet button doesn’t only uncover your account current balance but also provides you with an option to buy, sell, send, and receive cryptos. To use each of the options available, you need to have your account verified first.

Reward

The reward button instigates you to refer a friend and earn GBP10 worth of bitcoin in your accounts. Your referral will also have the same amount credited into his/her account.

Profile

Under the profile tab, traders can access various options, such as account security, settings, support, and price alerts. With security features, traders can enable or disable different functions, helping them make their accounts even more secure. Whether it’s about enabling or disabling the two-step authentication factor or making changes to the sending option, following the addition or removal of trusted devices and APIs configuration, the Profile tab lets you take control of your account.

Beneath the above-listed tabs, a price alert notification button enables you to switch on price alerts so you may receive them on your desktop and registered mobile numbers. Clicking the exchange button will take you to the proprietary trading interface of the Luno. Before we move forward talking about the exchange features, let us grab your attention toward the charting tools that can be seen right in the middle of the screen. The chart is customizable. You can see the price movement of your selected cryptos by taping the relevant time frame.

Last but not least, a dialogue box is available to be used for making a quick purchase. You can tap on the prefilled amounts or enter the amount manually that you wish to buy at Luno.

Exchange:

Let’s get back to the exchange option. After tapping the exchange button, Luno’s proprietary trading platform screen becomes available. Excellently design, the easy-to-use trading interface comes with just a few quick options such as trade, markets, orders, and insights.

The buy and sell button available on the left screen of the trading panel allows you to take a position instantly. Price alerts feature, order books, and recent trades area are such tools that help you trade effectively. 

How to Open an Account with Luno on a desktop?

Signing up with Luno is as easy as you might think. You only need to follow a few steps to get started with Luno.  Please follow the steps listed below.

  1. Open your web browser and type the web address of the website in the search bar of your browser. Alternatively, you can also visit the website using this link  https://www.luno.com/en.
  2. Click on the Sign-Up button available at the top left corner of the webpage.
    Screenshot
  3. Enter your email and password on the registration form and tick mark the check box to confirm that you’ve read the terms and conditions and agree to them.
    Screenshot
  4. Click the Sign-Up button to move to the next page.
  5. Access your registered email id to find out the confirmation link received from the Luno. Click on the link to verify your email id.
  6.  Click the dialogue box captioned as I’ve confirmed my email, and you will arrive straight at the home screen.
    Screenshot

account, you can start buying your favorite cryptos at Luno.

To buy cryptos with Luno on a desktop, follow the steps listed below. 

  1. Login to your account using your username and password.
  2. Access the wallet and click buy.
  3. Deposit funds in your wallet using your preferred payment method.
  4. Select your favorite cryptos such as Bitcoin, Ethereum, Litecoin, Ripple, or Bitcoin Cash.
  5. Enter the amount you wish to buy.
  6. Confirm your payment details and press next.
  7. Click on the confirm button to proceed with the payment.

Luno Mobile Trading App

Like other exchanges, Luno also offers a world-class mobile trading app making crypto transactions easier for you. Besides being secure and safe, the app has a user-friendly navigation panel that even traders with first-time trading exposure could use it seamlessly.

By providing you easy access to your favorite digital currencies, Luno’s mobile trading app offers multiple deposit and withdrawal methods to make your crypto transactions occur fast. You have the option of setting the auto purchase of cryptos with the schedule to buy feature of the app. Holding your bitcoins in your wallet app becomes even more fascinating with the app’s 4% interest offers. However, this might offend religious practitioners, and they might don’t want to use it.

ScreenshotScreenshot

The Luno mobile trading app offers your most reliable storage options. According to the information on the website, the company holds more than 95% of the cryptocurrencies in deep-freeze multi-signature wallets. Luno mobile app also allows you to send or receive your coins from or to a family member using the Luno mobile trading app free of charge.

With price alert features, traders on the go never miss sudden market movements because of the notifications received on their registered mobile numbers instantly. Luno has made the mobile trading app compatible with all android and iOS based mobile phones and tablets. Traders can have them download and installed from their respective App Store.

How to open an account with Luno on mobile?

Unlike other exchanges, signing up with Luno via the mobile app is just the same as registering for an account with Luno through the desktop. The only difference is that to signup using the mobile phone, you need to download and install the Luno app on your mobile device first.

Listed below are the steps you need to follow to get registered with the Luno using the mobile app.

  1. Go to the Play Store or App Store, depending upon the OS system of the mobile phone you have.
  2. Download the app and install it on your mobile phone.
  3. Open the Luno mobile trading app and click on the wallets button. It will prompt you to either get started by signing up for a new account or sign in to your existing account with Luno.
  4. Click on the get started button, enter your details on the registration page and press next.
  5. Access the email id that you have provided at the time of registration and click on the link received from the Luno.

Return to the app and click on, I’ve verified my email id. By doing so, you will be able to access the dashboard.
Screenshot

How to buy cryptos with Luno on mobile?

Buying cryptos with Luno on the mobile app works the same way as buy cryptos with the desktop. Listed below are a few steps that you need to follow to complete your purchase on Luno mobile trading app.

  1. Login to Luno mobile trading app.
  2. Click on the wallet tab
    Screenshot
  3. Select your favorite cryptocurrency from the available options
    Screenshot
  4. Enter the worth of Bitcoin you wish to buy
    Screenshot
  5. Click on the buy button
  6. Deposit in your account by selecting your preferred payment method and enter your payment details
    Screenshot
  7. Review your payment summary
  8. Click on the confirm button to proceed with the payment.
  9. Wait until your deposit reflects in your account, it could take as long as 02 business days to reflect in your account.

Payments Methods – Deposit & Withdrawal:

Luno offers multiple methods for deposits and withdrawals. The available methods may vary from country to country. Given below is a table covering details on the available payment methods as well as services offered in each of the countries listed.

Payment Methods (Country Wise)

Payment Methods for UK Customers &  British overseas territories and Crown dependencies

  Country Wallet Exchange Instant Buy/Sell API Payment methods
Gibraltar Yes Yes Yes Yes Bank transfer
Guernsey Yes Yes Yes Yes Bank transfer
Isle of Man Yes Yes Yes Yes Bank transfer
Jersey Yes Yes Yes Yes Bank transfer
United Kingdom Yes Yes Yes Yes Bank transfer, Debit/Credit Card

Payment Methods for European Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Austria Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Belgium Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Bulgaria Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Croatia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Cyprus Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Czechia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Denmark Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Estonia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
France Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Greece Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Hungary Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Iceland Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Ireland Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Italy Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Latvia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Liechtenstein Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Lithuania Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Luxembourg Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Malta Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Monaco Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Poland Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Portugal Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Romania Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
San Marino Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Slovakia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Slovenia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Spain Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Sweden Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Switzerland Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Austria Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Belgium Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Bulgaria Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Croatia Yes Yes Yes Yes SEPA transfers, Debit/Credit Card
Cyprus Yes Yes Yes Yes SEPA transfers, Debit/Credit Card

Payment Methods for Australian Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Australia Yes Yes Yes Yes Bank transfer, Pay ID

Payment Methods for Malaysian Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Malaysia Yes Yes Yes Yes Interbank GIRO, FPX Instant Transfer

Payment Methods for Nigerian Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Nigeria Yes Yes Yes Yes Bank transfer, Debit/Credit Card, Instant Bank Transfer

Payment Methods for Singaporean Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Singapore Yes Yes Yes Yes Xfers transfer

Payment Methods for South African Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
South Africa Yes Yes Yes Yes EFT, Instant EFT

Payment Methods for Ugandan Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Uganda Yes Yes Yes Yes Bank transfer

Payment Methods for Zambian Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Zambia Yes Yes Yes Yes Bank transfer

Payment Methods for Indonesian Customers

Country Wallet Exchange Instant Buy/Sell API Payment methods
Indonesia Yes Yes Yes Yes Bank transfer, Instant Bank Transfer

Deposit Fees (Country Wise)

United Kingdom

Currency of Origin Methods Fees
GBP Bank transfer Free

Europe

Currency of Origin Methods Fees
EUR iDEAL Free
EUR SEPA transfer Free
EUR Checkout Cards EUR Free
EUR Debit or credit card deposit Free

Australia

Currency of Origin Methods Fees
AUD Bank Transfer Free (AUD 1.30 for amounts below AUD 50)
AUD PayID Free (AUD 1.30 for amounts below AUD 50)

Malaysia

Currency of Origin Methods Fees
MYR FPX instant transfer MYR 0.70
MYR Interbank GIRO Free

Nigeria

Currency of Origin Methods Fees
NGN Flutterwave NGN 300.00
NGN Paystack 1.50% (max NGN 2,000)
NGN PayU Card Deposit 1.58% (max NGN 2,070)

Singapore

Currency of Origin Methods Fees
SGD Xfers bank deposit Free
SGD Xfers transfer Free

South Africa

Currency of Origin Methods Fees
ZAR EFT Free
ZAR Instant EFT 1.40%
ZAR Cash deposit penalty ZAR 20.00 + 5.00%

Uganda

Currency of Origin Methods Fees
UGX Bank transfer Free

Zambia

Currency of Origin Methods Fees
ZMW Bank transfer Free

Indonesia

Currency of Origin Methods Fees
IDR Internet banking IDR 4,000.00
IDR Other IDR 4,000.00
IDR Mobile banking IDR 4,000.00
IDR SMS IDR 4,000.00
IDR ATM IDR 4,000.00

Withdrawal Fees (Country Wise)

United Kingdom

Currency of Origin Methods Fees
GBP Bank transfer Free

Europe

Currency of Origin Methods Fees
EUR SEPA transfer EUR 0.30

Australia

Currency of Origin Methods Fees
AUD Bank transfer Free (AUD 1.30 for amounts below AUD 50)

Malaysia

Currency of Origin Methods Fees
MYR Interbank GIRO MYR 0.10

Nigeria

Currency of Origin Methods Fees
NGN Bank transfer NGN 200.00

Singapore

Currency of Origin Methods Fees
SGD Xfers transfer Free

South Africa

Currency of Origin Methods Fees
ZAR EFT ZAR 8.50

Uganda

Currency of Origin Methods Fees
UGX Bank transfer UGX 2,000.00

Zambia

Currency of Origin Methods Fees
ZMW Bank transfer ZMW 10.00

Indonesia

Currency of Origin Methods Fees
IDR Bank transfer IDR 6,500.00

As mentioned above, Luno charges its customers a fee for sending or receiving coins depending upon the chosen currency and methods. Listed below is a country-wise detail showing the applicable charges for sending or receiving coins through different methods available. Under each section, you could also find the supported cryptocurrencies for that region.

Fee for Sending & Receiving Coins

Luno applies certain fees and charges on sending or receiving coins via different methods. Give below is the fee detail applicable to each of the country.

United Kingdom

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Europe

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending Fees

Cryptocurrencies Methods Fees
BTC Sending to Bitcoin address Proportional*
BTC Sending to the email address or mobile number Nil
BCH Sending to Bitcoin Cash address Proportional*
ETH Sending to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Cryptocurrencies Methods Fees
BTC Received via Bitcoin address Nil*
BTC Received via the email address or mobile number Nil
BCH Received via Bitcoin Cash address Nil
ETH Received via Ethereum address Nil
XRP Received via Ripple address Nil
LTC Received via Litecoin address Nil

Australia

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending Fees

Cryptocurrencies Sending Method Fee Schedules
BTC Send to Bitcoin (Address) Proportional*
BTC Send to the email address/mobile number Nil
BCH Send to Bitcoin Cash (Address) Proportional*
ETH Send to Ethereum (Address) Proportional*
XRP Send to Ripple (Address) 0.03%
LTC Send to Litecoin (Address) Proportional*

Receiving fees

Cryptocurrencies Method(s) Fee Schedules
BTC Received via Bitcoin (Address) Nil*
BTC Received via email address/mobile number Nil
BCH Received via Bitcoin Cash (Address) Nil
ETH Received via Ethereum (Address) Nil
XRP Received via Ripple (Address) Nil
LTC Received via Litecoin (Address) Nil

Malaysia

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Ethereum (ETH)
  3. Ripple (XRP)
  4. Litecoin (LTC)

Sending Fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving Fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Nigeria

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending Fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Singapore

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving Fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

South Africa

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Uganda

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Zambia

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending fees

Currencies Methods Fees
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Indonesia

Supported cryptocurrencies

  1. Bitcoin (BTC)
  2. Bitcoin Cash (BCH)
  3. Ethereum (ETH)
  4. Ripple (XRP)
  5. Litecoin (LTC)

Sending fees

Currencies Method Fee
BTC Send to Bitcoin address Proportional*
BTC Send to an email address or mobile number Free of Charge
BCH Send to Bitcoin Cash address Proportional*
ETH Send to Ethereum address Proportional*
XRP Send to Ripple address 0.03%
LTC Send to Litecoin address Proportional*

Receiving fees

Currencies Methods Fees
BTC Receive by Bitcoin address Free of Charge*
BTC Receive by email address or mobile number Free of Charge
BCH Receive by Bitcoin Cash address Free of Charge
ETH Receive by Ethereum address Free of Charge
XRP Receive by Ripple address Free of Charge
LTC Receive by Litecoin address Free of Charge

Important:

* For amounts of up to BTC 0.0001, an equivalent transaction fee applies.

** Sending fees may vary proportionally depending upon the traffic of the network.

Limits Applicable on Crypto & Fiat Crosses

Buy or Sell – Transactions Limits (Country Wise)

The exchange holds certain transaction limits concerning crypto and fiat pairs trading. Listed below a detailed tabular format showing limits for each country separately.

United Kingdom

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/GBP BCH 0.002 – BCH 20.00 GBP 1.00 – GBP 8,000.00
BTC/GBP BTC 0.0005 – BTC 2.00 GBP 1.00 – GBP 8,000.00
ETH/GBP ETH 0.01 – ETH 100.00 GBP 1.00 – GBP 8,000.00
LTC/GBP LTC 0.01 – LTC 200.00 GBP 1.00 – GBP 8,000.00
XRP/GBP XRP 0.10 – XRP 80,000.00 GBP 1.00 – GBP 8,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Europe

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/EUR BCH 0.002 – BCH 40.00 EUR 1.00 – EUR 8,000.00
BCH/GBP BCH 0.002 – BCH 20.00 GBP 1.00 – GBP 8,000.00
BTC/EUR BTC 0.0005 – BTC 2.00 EUR 1.00 – EUR 8,000.00
BTC/GBP BTC 0.0005 – BTC 2.00 GBP 1.00 – GBP 8,000.00
ETH/EUR ETH 0.01 – ETH 100.00 EUR 1.00 – EUR 8,000.00
ETH/GBP ETH 0.01 – ETH 100.00 GBP 1.00 – GBP 8,000.00
LTC/EUR LTC 0.01 – LTC 200.00 EUR 1.00 – EUR 8,000.00
LTC/GBP LTC 0.01 – LTC 200.00 GBP 1.00 – GBP 8,000.00
XRP/EUR XRP 0.10 – XRP 80,000.00 EUR 1.00 – EUR 8,000.00
XRP/GBP XRP 0.10 – XRP 80,000.00 GBP 1.00 – GBP 8,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Australia

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/AUD BCH 0.002 – BCH 20.00 AUD 1.00 – AUD 30,000.00
BTC/AUD BTC 0.0005 – BTC 2.00 AUD 1.00 – AUD 30,000.00
ETH/AUD ETH 0.005 – ETH 100.00 AUD 1.00 – AUD 30,000.00
LTC/AUD LTC 0.01 – LTC 200.00 AUD 1.00 – AUD 30,000.00
XRP/AUD XRP 0.10 – XRP 80,000.00 AUD 1.00 – AUD 30,000.00

Crypto-to-Crypto pairs

Market Cryptocurrency Counter currency
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Malaysia

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BTC/MYR BTC 0.0005 – BTC 1.00 MYR 3.00 – MYR 20,000.00
ETH/MYR ETH 0.01 – ETH 100.00 MYR 3.00 – MYR 20,000.00
LTC/MYR LTC 0.01 – LTC 200.00 MYR 3.00 – MYR 20,000.00
XRP/MYR XRP 0.10 – XRP 80,000.00 MYR 3.00 – MYR 20,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Nigeria

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/NGN BCH 0.002 – BCH 20.00 NGN 300.00 – NGN 3,600,000.00
BTC/NGN BTC 0.0005 – BTC 2.00 NGN 300.00 – NGN 3,600,000.00
ETH/NGN ETH 0.01 – ETH 100.00 NGN 300.00 – NGN 3,600,000.00
LTC/NGN LTC 0.01 – LTC 200.00 NGN 300.00 – NGN 3,600,000.00
XRP/NGN XRP 0.10 – XRP 80,000.00 NGN 300.00 – NGN 3,600,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Singapore

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/SGD BCH 0.002 – BCH 20.00 SGD 1.00 – SGD 6,000.00
BTC/SGD BTC 0.0005 – BTC 1.00 SGD 1.00 – SGD 6,000.00
ETH/SGD ETH 0.01 – ETH 100.00 SGD 1.00 – SGD 6,000.00
LTC/SGD LTC 0.01 – LTC 100.00 SGD 1.00 – SGD 6,000.00
XRP/SGD XRP 0.10 – XRP 80,000.00 SGD 1.00 – SGD 6,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

South Africa

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/ZAR BCH 0.002 – BCH 20.00 ZAR 10.00 – ZAR 130,000.00
BTC/ZAR BTC 0.0005 – BTC 2.00 ZAR 10.00 – ZAR 130,000.00
ETH/ZAR ETH 0.01 – ETH 100.00 ZAR 10.00 – ZAR 130,000.00
LTC/ZAR LTC 0.01 – LTC 200.00 ZAR 10.00 – ZAR 130,000.00
XRP/ZAR XRP 0.10 – XRP 80,000.00 ZAR 10.00 – ZAR 130,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Uganda

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/UGX BCH 0.002 – BCH 4.00 UGX 1,000.00 – UGX 2,500,000.00
BTC/UGX BTC 0.0005 – BTC 0.10 UGX 1,000.00 – UGX 2,500,000.00
ETH/UGX ETH 0.01 – ETH 5.00 UGX 1,000.00 – UGX 2,500,000.00
LTC/UGX LTC 0.01 – LTC 15.00 UGX 1,000.00 – UGX 2,500,000.00
XRP/UGX XRP 0.10 – XRP 3,500.00 UGX 1,000.00 – UGX 2,500,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Zambia

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/ZMW BCH 0.002 – BCH 4.00 ZMW 10.00 – ZMW 10,000.00
BTC/ZMW BTC 0.0005 – BTC 0.10 ZMW 10.00 – ZMW 10,000.00
ETH/ZMW ETH 0.01 – ETH 5.00 ZMW 10.00 – ZMW 10,000.00
LTC/ZMW LTC 0.01 – LTC 15.00 ZMW 10.00 – ZMW 10,000.00
XRP/ZMW XRP 0.10 – XRP 3,500.00 ZMW 10.00 – ZMW 10,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Indonesia

Crypto-to-Fiat pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/IDR BCH 0.002 – BCH 20.00 IDR 15,000.00 – IDR 120,000,000.00
BTC/IDR BTC 0.0005 – BTC 2.00 IDR 15,000.00 – IDR 120,000,000.00
ETH/IDR ETH 0.01 – ETH 100.00 IDR 15,000.00 – IDR 120,000,000.00
LTC/IDR LTC 0.01 – LTC 200.00 IDR 15,000.00 – IDR 120,000,000.00
XRP/IDR XRP 0.10 – XRP 80,000.00 IDR 15,000.00 – IDR 120,000,000.00

Crypto-to-Crypto pairs

Markets Cryptocurrency (Base) Local currency (Secondary)
BCH/BTC BCH 0.002 – BCH 40.00 BTC 0.0005 – BTC 2.00
BCH/ETH BCH 0.002 – BCH 20.00 ETH 0.01 – ETH 100.00
BCH/LTC BCH 0.002 – BCH 20.00 LTC 0.01 – LTC 200.00
BCH/XRP BCH 0.002 – BCH 20.00 XRP 0.10 – XRP 80,000.00
BTC/XRP BTC 0.0005 – BTC 2.00 XRP 0.10 – XRP 80,000.00
ETH/BTC ETH 0.01 – ETH 100.00 BTC 0.0005 – BTC 2.00
ETH/LTC ETH 0.01 – ETH 100.00 LTC 0.01 – LTC 200.00
ETH/XRP ETH 0.01 – ETH 100.00 XRP 0.10 – XRP 80,000.00
LTC/BTC LTC 0.01 – LTC 200.00 BTC 0.0005 – BTC 2.00
LTC/XRP LTC 0.01 – LTC 200.00 XRP 0.10 – XRP 80,000.00

Education

Luno offers a wide range of educational resources to help clients discover a whole new world of digital currencies. The education section is available on the exchange’s official website under the resources category.

Traders can either tap the menu button to access the educational content or drag down the page and click the learning portal to get into it.  Considering the linguistics limitations, the company offers multilingual access to its knowledge hub. At times, clients can visit the informational area in four languages, including English, Indonesian, French, and Italian.

Screenshot

From a brief intro at the start, the website takes traders into more details on digital currencies. The main topics covered under the crypto guide include an overview, information on how to buy certain digital assets following recommendations on where to store them. The website also uncovers various other topics such as the history and origin of cryptocurrencies, the transitional phase of switching from fiat to crypto plus its pros and cons, and the future of the digital world.

Luno also offers a blog facility where clients can read the latest news, watch educational videos, and keep an eye on market updates. Traders can also read a variety of articles published on Luno’s website daily.

Customer Support

As far as the customer support at Luno is concerned, the company offers a well-maintained Frequently Asked Questions (FAQs) section to help clients to get the desired information. However, the company seems to be lagging in the adoption of a customer-centric approach. Should you wish to talk to the company’s representative, there is no way that you can establish direct contact with the customer support staff.

Besides web chat support is not available, Luno doesn’t provide any telephone number as well where traders could speak up to someone responsible. The only means of raising your voice with the company is through social media platforms, including Facebook, Twitter, LinkedIn, YouTube, and Instagram.

Reviews

What Do People Say About Luno on Reddit?

People hold a differing opinion on signing up with Luno at Reddit. To some, the Luno is a user-oriented crypto exchange with a sleek design and easy to use trading interface. Others showed concerns over its regulations. A member of Reddit shared his bad experience with Luno. According to the member, he lost his few hundred dollars due to the misquoted price on the company’s mobile app. Another member came up with good comments appraising the exchange for its multiple deposit and withdrawal methods. However, all of the members had one thing in common, and that is they seemed to be unhappy with the time-consuming payment processes at Luno.

Screenshot

There were also a few people who disliked the customer support services of the exchange. Quoting that the company does not care much about its clients, one of them criticized the company for not passing on the wallet keys to customers. However, a bunch of people suggested that Luno is the best crypto exchange for beginners.

What Do People Say About Luno on Quora?

There isn’t much information available about Luno at Quora. However, in response to a question asked by a Reddit member concerning the safety of Luno’s wallet, someone from the Luno replied positively. According to the conversation we’ve quoted in the picture as well, Luno wallets act as a post box. People have the addresses to send their digital assets to their personalized allocated wallets but can access them only with Luno’s wallet key.

Screenshot

Wallet keys are also known as private keys useable for login into wallets. People are advised in their interest to keep the keys well secure. You could also consider holding your cryptocurrencies with exchange online storage spaces. However, storing your digital assets in online wallets could be dangerous. Therefore, it is preferable to store your coins in an offline storage facility.

Is Luno exchange Safe?

Considering the various advanced features that the Luno has incorporated to ensure the protection of digital assets, it is a safe exchange. Enabling the two-step authentication factor, the Luno adds a layer of security to your wallet. Each time a person requesting access to the wallets needs to enter two codes received across two different mediums i-e email & mobile phone.

Solidifying the security protocols, Luno offers wallets with the option of disabling the send feature. With a disabled send feature, your funds become non-transferable. Even enabling it again won’t let you perform a transaction activity for at least 24 hours. That’s how you could rest assured that even if your account gets hacked, you have enough time available to take necessary actions.

In addition to the secure SSL web-encrypted servers, Luno’s touch ID or biometric verification on android and iOS based mobile phones also helps you enjoy the increased security of your wallets.

Luno VS eToro

It becomes difficult to compare two well-known exchanges side by side. However, when it comes to knowing which of the exchange suits you the most, highlighting some features can make a difference. Without further ado, let’s get to the point.

Luno

Luno is a crypto-oriented exchange formerly known as BitX. The company started its business in 2013 with its headquarter based in Singapore. According to the information available on the company’s official webpage, Luno has managed to raise over $14 Billion via global funding. With a clientele base of millions, the company extends its services to nearly 40 countries around the world. With a daily turnover of around 4.7 Million worth of Bitcoins, the Luno strives hard to become one of the best exchanges available around.

eToro

eToro is amongst a few well-known exchanges with such high prestige amongst traders. Incepted in 2006, eToro has its head office in Limassol, Cyprus. In addition to offering trading services in forex, CFDs, indices, commodities, and cryptocurrencies, the FCA regulated exchange also offers social trading services to its customers in almost all parts of the world.

Trading Platforms:

Luno offers a user-friendly trading interface helping clients to trade comfortably. The platform design comes with a handy approach to navigate around. From customer services to a wide range of payment methods, everything is accessible right from your dashboard. With the most sophisticated security systems, the exchange ensures to exhibits a safe trading environment. Featuring a trade facility against various crypto assets, Luno also provisions fiat trading in several different currencies of the world. With its uniquely designed platform, Luno is a competent player in the market.

On the other hand, eToro has an award-winning trading platform with multiple trading tools available for a reviving trading experience. Features such as advanced risk management tools, in-depth market analytics, and trend indicators equip clients to cope with market fluctuations confidently. With the option of copy trading services, novice traders could start making money right away. The availability of nearly 37 crypto pairs provides eToro a definite edge over the Luno exchange.

Trading Fees & Payment Methods:

Despite charging a fee on almost all types of trading activities including, crypto transactions, deposit & withdrawals, Luno has a competitive pricing model. Being a maker or taker, the fee at Luno may vary. Makers don’t pay any fee at Luno, while takers might need to pay anywhere between 0.25 percent to 1 percent of the transaction amount depending upon the currencies selected. Although fee schedules are low at Luno as compared to other crypto exchanges but are equally confusing.

eToro is known for having slightly higher fee schedules, such as positions held overnight or weekends might cost you more money as compared to other crypto trading exchanges. Etoro doesn’t charge any overnight fee on non-leveraged open trades. However, for a leveraged overnight position, you might end up paying as much as three times the fee on several other exchanges. Dormant traders might also need to pay $10 for remaining inactive for more than a specified period at eToro.

Deposit Limits:

Luno offers multiple account levels to its clients, depending upon the level of verification. It is worth mentioning here that even Luno is not a regulated exchange as yet, it still observes AML guidelines to avoid money laundering activities owing to the various regulatory requirement in the jurisdictions it operates. To deposit or withdraw funds, you need to have your email address verified, at least. For deposits and withdrawals of up to 1K Euros, your phone number needs to be confirmed. Trading €5000 won’t be possible with Luno unless your CNIC is verified. Above 100,000 Euros, you need to go through full verification, including the address of your residence.

eToro, on the other hand, employs a simple formula for deposit and withdrawal limits. Traders wishing to trade above $2250 need to get their account fully verified first. However, verification for trading below $2250 is also mandatory. You have a time frame in which you need to provide supporting documents confirming your identity if you wish to keep using your account with eToro.

Customer Services:

Luno offers limited customer support options. With no live support, things become even more difficult at Luno. You can only access the frequently asked question section of the company in case something bothers you. You can’t even talk to the concerns via the telephone. However, the company has a presence over some renowned social media platforms such as Facebook, Twitter, Instagram, etc. Should you wish to seek any assistance, you can have your words heard on the above-mentioned social media websites.

eToro also offers a basic level of customer support, but better than Luno. You can join the web chat support service along with an option to establish a telephonic conversation with customer service representatives. Should you wish to highlight something in more detail, there is always an option of using the online contact form at eToro.

Other products and services:

Luno Business

Apart from offering services to individual traders, Luno also facilitates corporate clients. With secure custody of crypto assets, the company provisions enhanced trading limits for business entities. With the option of API integration, companies can also benefit from the lightning-fast trade execution for a cheap trading cost. The advanced charting options at Luno extends significant support for businesses to trade market liquidity proficiently.

Whether your company deals in funds management or you are a trading firm offering financial services, Luno has the best deals for you. All you need is to sig-up with Luno for a corporate account, providing all the necessary information and documents. After approval of your application, you can get started with Luno’s business plans.

Luno API

The option of building custom apps or payment integration with Luno’s native APIs is another exciting feature available at Luno. With all-time access to the current and historical market data for cryptos through the API feature, you can either go for algorithmic trading or create multicurrency wallet addresses to receive your digital assets. In short, Luno has the solution to your every trading need.

Screenshot

Conclusion

After a detailed review of the Luno exchange, we conclude that Luno is a reliable exchange that is continuously striving hard to excel and to becoming the ultimate crypto trading hub. With a focus on developing countries, its intentions are clear. For introducing the world to a better financial system, the exchange makes every effort to ensure its consistent growth.

However, people show concerns over its non-regulated status, and that’s natural. Luno also needs to pay special attention to the level of customer service. With a limited portfolio of cryptocurrencies and a relatively confusing price charging mechanism, it might become difficult for Luno to compete with other renowned names such as eToro, Coinbase, Kraken, etc.

Frequently Asked Questions (FAQs)

Luno is not regulated yet. However, it does offer world-class trading services to its millions of clients across the globe.

Yes, you can. Luno offers a few major digital currency pairs for relatively low trading costs. 

No, you have to get your account verified before you could buy cryptocurrencies at Luno. Despite being non-regulated, Luno strictly follows best work ethics and is even required to abide by AML guidelines in some jurisdictions of the world. 

You can submit your ID card, Passport, Driving License, etc. To verify your physical address, you might also need to provide a copy of your utility bill. The exchange sometimes asks you to take a selfie and upload it on your profile for face identification. 

Well, the exchange has certain limits that you need to fulfill before going into high volume trading. These restrictions vary depending upon your country of origin and the verification level you have satisfied. 

The exchange often faces criticism concerning the slow process of deposits and withdrawals. Your deposits could even take two business days to reflect in your account.