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Luno Review

Last Updated on March 20, 2024

James Headshot
Written by
Adam Headshot
Edited by
Luno logo
3.92
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.
Visit Luno

The Bottom Line Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Luno stands out in the field of cryptocurrency exchanges not simply due to its trading volume or range of services but for its dedication to user-centered design. From deposit ease and secure wallet protection, Luno provides an exceptional user experience suited for engaging with Bitcoin and Ethereum safely and reliably.

Table of Contents
Disclaimer: This is not a validation of cryptocurrency or any particular provider, service, or product. It should not be taken as advice to engage in trading or use any services. Please check our terms and conditions.

Pros

  • User-friendly interface
  • Support for multiple fiat currencies
  • Relatively low transaction fees
  • Offers a Bitcoin savings wallet
  • Provides instant buy/sell features

Cons

  • Limited selection of cryptocurrencies
  • No advanced trading features like margin trading
  • Customer support can be slow to respond
  • Limited geographic availability
  • Lacks some advanced security features

Quick Summary

Headquarters Location International
Fiat Currencies Supported USD, AUD, GBP, EUR + 5 others
Total Supported Cryptocurrencies 15+
Trading Fees 0.00% - 0.10%
Deposit Methods Bank Transfer, Debit Card, Credit Card, Cryptocurrency, PayID, FPX
Support Facebook, Twitter, Instagram, Help Center Articles, Support Ticket
Mobile App Yes - iOS, Android

Luno stands out in the sea of cryptocurrency exchanges as an exceptional option, distinguished by its emphasis on simplicity and user friendliness. Luno’s approach resonates well both among experienced traders as well as newcomers to digital currency trading.

Luno homepage

Luno stands out in the crypto exchange universe by offering an easy path, similar to driving a carefully constructed vehicle, where each control serves a specific purpose but also enhances driving pleasure. Luno’s philosophy centers around giving users control over their crypto journey with tools and insights they need for informed decision-making.

The platform’s design philosophy draws its inspiration from the comfort and intuitiveness found in high-quality camping equipment, where every corner is optimized and every feature works to enhance user experience.

About Luno

Luno was established in Cape Town but has quickly expanded beyond South African borders. Offering access to Bitcoin and several other cryptocurrencies easily, its history of evolution demonstrates a dedication to maintaining user-friendliness while acknowledging the rapid expansion of crypto exchange markets.

Luno’s story traces its success through key moments in cryptocurrency’s rise, reflecting both industry trends and public demand for digital finance. Since its humble roots in Cape Town, this platform has expanded in step with Bitcoin, adapting to meet ever-evolving market and user requirements.

Luno features

Luno has steadily built out its offering like the roof rack on an off-road vehicle, adding storage for new coins and functionalities while ensuring its foundation remains strong and sound. Luno has witnessed market sentiment shift from spikes of enthusiasm to wood chip-dull periods of consolidation while remaining an engaged participant within the cryptocurrency realm throughout it all.

Luno has a number of active social profiles including Facebook, Twitter, Instagram, LinkedIn, TikTok and YouTube.

Luno has a mobile app on both the Apple App Store and Google Play.

Luno Supported Cryptocurrencies

Luno supports trading on over 15 cryptocurrencies on their platform. This exchange currently supports 9 of the top 30 market cap cryptocurrencies.

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Tether USDt (USDT)
  • BNB (BNB)
  • Solana (SOL)
  • USDC (USDC)
  • XRP (XRP)
  • Dogecoin (DOGE)
  • Toncoin (TON)
  • Cardano (ADA)
  • Shiba Inu (SHIB)
  • Avalanche (AVAX)
  • TRON (TRX)
  • Polkadot (DOT)
  • Chainlink (LINK)
  • Bitcoin Cash (BCH)
  • Uniswap (UNI)
  • NEAR Protocol (NEAR)
  • Polygon (MATIC)
  • Litecoin (LTC)
  • UNUS SED LEO (LEO)
  • Dai (DAI)
  • Pepe (PEPE)
  • Internet Computer (ICP)
  • Ethereum Classic (ETC)
  • Kaspa (KAS)
  • Aptos (APT)
  • Monero (XMR)
  • Render (RNDR)
  • Hedera (HBAR)

Download full list of cryptocurrencies Luno supports

Trading Experience

Luno makes trading feel like riding in an air conditioned passenger seat, with each control easily within reach and plenty of room for casual and experienced traders to execute their strategies without issue.

User interface design aims for simplicity, enabling traders to focus on making moves rather than on how best to navigate an exchange.

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. With ample room to maneuver and an inflation pump on advanced charting tools available for their use, traders have plenty of freedom in which they can inflate strategies for better trading strategies.

Experience is tailored to ensure maximum comfort while engaging with markets, similar to how the Personalized Comfort system on high-end air mattresses accommodates individuals’ varying trading postures. Luno provides users with an electric air pump – an essential tool that simplifies this process and makes trading efficient and straightforward.

Luno exchange marketing

Luno Fees

Luno offers an open fee structure that strikes a balance between competitiveness and sustainability, and encourages trading while guaranteeing top-quality services to clients.

Although specifics may differ depending on your exchange, fee systems should always be designed with simplicity in mind, to allow users to engage with it freely without feeling bogged down by complicated pricing models.

Luno’s fee structure is similar to an adjustable comfort valve found on high-quality air mattresses, offering users flexibility and personalisation while preserving core experience without becoming compromised due to fluctuating pressures. This approach ensures accessibility for a diverse audience ranging from those looking for affordable sleeping surfaces with minimum investments up to experienced traders searching for extra room for expansive trading strategies.

Fees without hidden costs or complicated tiered systems provide users with clarity to confidently engage with the platform without incurring unexpected costs or confusion over hidden costs or confusing tiered systems.

Type Fee
Deposit Fee (Bank Transfer) 0%
Deposit Fee (Credit/Debit Card) Not Listed
Trading Fee 0.00% - 0.10%
Withdrawal Fee (Bank Transfer) 0%

Luno supports a range of different cryptocurrencies with varying withdrawal fees. When looking at Bitcoin, they don't charge anything above the standard Bitcoin network fee. Across all the crypto exchanges we've reviewed, the average Bitcoin transaction fee charged is 0.000415 BTC compared to the actual network fee of 0.000067 BTC. This means you are saving 83.76% on Bitcoin transactions by using Luno instead of other exchanges.

Luno has a maker/taker fee schedule which you can see below.

Tier 30-day volume Taker fee Maker fee
1 €0 –
€250,000
0.10% 0%
2 €250,000 –
€500,000
0.09% 0%
3 €500,000 –
€1,000,000
0.08% 0%
4 €1,000,000 –
€2,000,000
0.07% 0%
5 €2,000,000 –
€4,000,000
0.06% 0%
6 €4,000,000 –
€8,000,000
0.05% 0%
7 €8,000,000 –
€16,000,000
0.04% 0%
8 Over €16,000,00 0.03% 0%

Security - Is Luno Safe?

Luno prioritizes security as part of their business operations, with an elaborate framework in place to safeguard assets. Cold storage, multi-sig wallets and stringent verification processes all demonstrate Luno’s dedication to safeguarding user investments.

Regulation and compliance are taken seriously to build greater trust with our customers.

Luno operates with the vigilant vigilance of a camping fan to keep pests at bay all through the night. Cold wallets provide a strong defense against external threats by offering resilient protection.

These wallets, similar to safe deposit boxes, are fortified against vulnerabilities to safeguard users’ assets against unauthorised access. Luno utilizes multi-tiered security measures similar to multi-sig wallet systems with layers as durable as 300 denier Oxford fabric known for its protection.

This security fabric is tightly woven, leaving no room for slow leaks of information or breaches that might compromise users’ holdings.

Luno Customer Support

Luno customer support is like having an expert co-pilot. Always quick to respond and knowledgeable, this team works tirelessly to make every user’s experience as smooth and relaxing as possible.

Be it an inquiry about a transaction or assistance with verification, our support team is always there to provide assistance and answer any queries that arise.

Luno’s customer support acts as a pump that quickly restores their confidence, solving their queries without long wait times and offering guidance and solutions that could ruin a great experience for users.

Luno’s support team provides responsive assistance similar to a camping fan: always there to ensure a pleasant camping experience, whether it is simple questions or more complex problems requiring assistance. Their knowledge spans across each aspect of Luno services and ensures assistance that is both pertinent and effective.

Luno support

Luno Support Channels

  • Facebook
  • Twitter
  • Instagram
  • Live Chat
  • Help Center Articles
  • Support Ticket

How to Sign Up on Luno

  1. Create Account - Visit the Luno website and fill out the create account form. You'll need to include a valid email, set your password and type in other details like your phone number and name.
  2. Verify Account - Confirm your email, you should get an email asking you to verify your account creation.
  3. Transferring Funds - Once your account has been verified, you'll be able to deposit using the deposit methods listed below.
  4. Start Trading Crypto - That's it! You should now have everything in place to start trading.

Deposit Methods

  • Bank Transfer
  • Debit Card
  • Credit Card
  • Cryptocurrency
  • Paypal
  • Apple Pay
  • Google Pay
  • PayID
  • FPX

Luno Alternatives

Binance logo

Binance

3.23
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
394+

Trading Fees
0.10%

Fiat Currencies Supported
USD, GBP, CAD, EUR, NZD + 75 others

Visit Binance
Kraken logo

Kraken

3.44
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
253+

Trading Fees
0.08% - 0.40%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR + 1 other

Visit Kraken
OKX logo

OKX

3.57
Crypto Head Rating
Our review is based on the spot trading platform. Please check our methodology on how we rate exchanges for further information.

Total Supported Cryptocurrencies
365+

Trading Fees
0.08% - 0.10%

Fiat Currencies Supported
USD, AUD, GBP, CAD, EUR, NZD + 85 others

Visit OKX

Final Thoughts

Luno stands out as more than just an online trading platform – it provides access to an experience characterized by comfort, ease, and confidence that comes from using quality service.

Luno’s approach to crypto trading ensures a hassle-free journey for those looking to navigate digital currency waters.

Looking ahead, one can see that cryptocurrency exchanges play an essential role in digital finance landscape. As this sector matures – much like camping has gone from primitive tent camping experiences to advanced 4×4 camping expeditions – exchanges will likely become even more integrated, offering seamless experiences across various financial spheres.

Luno could play an invaluable role in this transition, helping guide users through an evolving financial ecosystem that increasingly values digital assets. Exchanges hold immense promise as key influencers of cryptocurrency adoption; just consider how air mattresses have transformed camping experience!

Luno FAQs

Luno is a cryptocurrency exchange that is recognized in the industry for providing services such as buying, selling, and storing cryptocurrencies. It operates in several countries and complies with local regulations and standards where it is available.

Like any platform that operates online, it is important for users to follow good security practices to protect their accounts.

As with any investment platform, there is always a risk of financial loss. The value of cryptocurrencies can be highly volatile, and customers may lose money if the value of their investments decreases.

Additionally, while Luno implements security measures, users must also ensure that they take steps to secure their accounts.

Luno, like any online platform, could potentially be a target for hackers. However, the company has implemented various security features to protect users’ assets.

It is also crucial for users to use strong passwords and two-factor authentication to minimize the risk of their accounts being compromised.

An individual’s Luno account could be at risk if that person does not follow good security practices. Users are advised to enable two-factor authentication, use strong and unique passwords, and be cautious of phishing attempts to reduce the likelihood of their account being hacked.

Withdrawal times from Luno may vary depending on the user’s bank and the processing times of the network for cryptocurrency withdrawals. It’s important to check the specific withdrawal times for the currency you are using and take note of any potential processing delays.

Transactions made using cryptocurrencies can typically be traced on the blockchain, which is a public ledger. However, the identities of the individuals involved in the transactions are not directly connected to the transaction data on the blockchain.

Determining which is better between Luno and Binance would depend on the user’s specific needs and preferences. Both are recognized cryptocurrency exchanges that offer a range of services.

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.

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Methodology

At Crypto Head we use a rigorous research and rating process to assess each platform. Our star rating system is out of 5 stars and is designed to condense a large amount of information into an easy-to-understand format. You can read our full methodology and rating system for more details.

About The Authors

James Headshot
Written by

Crypto Technical Writer

James Page, previously the lead writer at Crypto Head and a registered psychologist, brings a unique perspective to the world of blockchain and cryptocurrency.

His extensive experience in the industry and ability to present complex concepts in an understandable manner make his articles a valuable resource for readers seeking to navigate the ever-evolving crypto landscape.

Check James out on:
Adam Headshot
Edited by

Co-Founder / Managing Editor

Adam Morris, the co-founder of Crypto Head and a respected crypto expert, offers insightful commentary and analysis on cryptocurrency, NFTs, and the evolving digital landscape.

His extensive experience and features in top-tier publications like Forbes and CNN underscore his deep understanding of the crypto world and its future potential.

Check Adam out on: