What is Luno?
Luno is a user-friendly cryptocurrency exchange designed to simplify access to digital assets for beginners and experienced traders alike. Established in 2013, Luno operates in over 40 countries, serving more than 9 million users with a mission to demystify crypto trading. The platform supports buying, selling, storing, and trading cryptocurrencies, alongside educational resources to guide users.
Key Details About Luno
- Website: Luno
- Headquarters: London
- Mobile Apps: iOS & Android
- Supported Fiat Currencies: USD, EUR, AUD, GBP, IDR, and others
- Popular Cryptocurrencies: BTC, ETH, XRP, SOL, ADA, LTC, BCH, USDC
- Deposit Methods: Bank transfers, credit/debit cards (varies by region)
- Deposit Fees: Free for most methods
- Trading Fees: Varies by country (e.g., 0.10% for spot trading in Australia)
Pros and Cons of Luno
Advantages
✅ Beginner-friendly interface with instant buy/sell options.
✅ Low trading fees (e.g., 0.10% spot trading in select regions).
✅ Educational resources, including tutorials and market guides.
✅ Secure storage with offline "deep freeze" cold wallets.
✅ Mobile apps for on-the-go trading.
Disadvantages
❌ Limited crypto selection (only ~10 major coins).
❌ Not available globally (excludes parts of Asia, Africa, and the Middle East).
Services Offered by Luno
1. Instant Buy/Sell
- Purchase crypto with as little as $10.
- Supports multiple payment methods (e.g., SEPA, PayID).
2. Advanced Trading Interface
- Professional charts (TradingView integration) with 50+ indicators.
- Customizable order types and depth charts.
3. Luno Wallet
- Built-in hot/cold wallet for secure storage.
- Free withdrawals for some fiat currencies (e.g., USD, GBP).
4. Educational Hub
- Guides on crypto basics, market analysis, and platform features.
Fee Structure
| Fee Type | Cost |
|---|---|
| Deposits | Free (except PayID in Australia: $1.30) |
| Trading | 0.10%–0.50% (varies by country) |
| Instant Buy/Sell | 0.75%–2% |
| Crypto Withdrawals | Network-dependent (e.g., BTC gas fees) |
Top Alternatives to Luno
| Exchange | Supported Cryptos | Fees (Spot Trading) | Fiat Deposit Methods |
|---|---|---|---|
| Binance | 350+ | 0.10% | Card, Bank Transfer |
| Coinbase | 150+ | 1.49% | PayPal, Debit Card |
| Kraken | 120+ | 0.26% | SEPA, SWIFT |
FAQs
Is Luno available in the US?
Yes, but only for instant buy/sell (0.75% fee). Spot trading is unavailable.
What security measures does Luno use?
- Two-factor authentication (2FA).
- Offline cold storage ("deep freeze").
Can I earn interest on Luno?
No, Luno doesn’t offer staking or interest products.
Final Verdict
Luno excels as a beginner-focused platform with robust security and educational tools. However, its limited crypto options and regional restrictions may deter advanced traders.
For a broader selection, consider alternatives like Binance or Kraken.