Website Review: SCAM or PAYING?

Luno.com Review SCAM or Paying?

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Luno.com Review SCAM or Paying?

Summary

User Management/Design: Custom / web / apps
Company transparency: Transparent
Site Security: SSL
Deposit options: BTC, ETH, XRP LTC, Bank Cards, Bank Transfers, IBFT, Paystack, EFT, iDeal, Sofort, and Flutterware 
Affiliate: $15 per new wallet user joining 
Withdrawal: within 24 hours 
Investment: N/A
Profit: N/A

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User Review
0 (0 votes)

Status: PAYING and Legit

pros

  • Low fees
  • No verification required for small amount of trading
  • A popular brand in South East Asia and Africa

cons

  • Just 4 crypto currencies available for trading
  • Only 40 countries supported

Company

Active since 2013  Luno has a physical presence in the United Kingdom, South Africa, Singapore, Malaysia, Indonesia, and Nigeria. Their team consists of employees from a wide range of backgrounds. These are finance, engineering, and many other industries. 

Their aim is to revolutionize the mode of using money among people. Many of Luno’s team members have worked with large global companies such as Morgan Stanley, Amazon, Google, and E&Y. Luno has received funding from some of the leading venture capital companies around the globe, such as Alphacode, Balderton Capital, Naspers, Digital Currency Group, and Venturra. They have received $13.8 million in funding so far. 

Products

 There are multiple products under the belt of Luno. Their customers can avail of multiple services from them and these include a crypto trading platform, a Bitcoin Wallet, a brokerage service, an API that can be useful for the developers. 

#1. Trading Platform

Currently, Luno offers BTC and ETH for trading against a few fiat currencies. Users are likely to find Luno’s features such as API access and advanced charting useful. They can use these features for automated trading and in-depth report creation. However, you must note that the trading volume at Luno is minuscule when compared to its larger peers. 

#2. Brokerage Service

A user can opt for Luno’s easy to understand the platform to quickly buy Bitcoin or Ethereum. They sell you BTC & ETH directly and charge a premium on it. However, there’s not much information about how much premium they charge on their brokerage service. We believe that they charge a premium fee on the basis of the amount you are purchasing and the country where you are from. 

#3. Luno Mobile Wallet

Luno currently offers a mobile wallet for Bitcoin, Litecoin, Ripple, and Ethereum. It is available for both Android and iOS users. These wallets can be useful for you as you can access your Luno accounts anywhere and wherever you want. However, you must keep in mind that these wallets are custodial ones. It means that the coins in the wallet are actually under the control of Luno. 

#4. Luno for Business users

Trading companies, professional miners, and startups can use Luno to transact, trade, and store cryptocurrencies. They can use Luno’s API to execute automated trading strategies. 

Luno.com Review SCAM or Paying?

Conclusion 

Luno has targeted a niche that other crypto exchanges have ignored and that is the emerging markets. They are currently operating in countries that are not the focus of the leading crypto exchanges around the world.

They have a user-friendly website, have backing from some of the world’s leading VC firms, and a team that is both skilled and passionate to take Luno at the top of the crypto trading market in the emerging countries. However, we suggest that you check the fee that Luno charges in your country. It is because their fee depends upon the country of the user. 

Our verdict is that Luno is a credible company and has established itself to be the leading crypto trading company in the emerging markets. 

Disclaimer: @hashant has no connection to the sites we performed reviews and has not invested in any of the sites we perform a review on and we will never endorse or recommend you to invest in any of this sites. A review is made to help you find a good site among the many. Still, there are no guarantees that the site will perform well over time or are truly legal.

You can ask us to make a review on a particular website. To do so please leave a comment and the site URL on our suggestion page.
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