Luno Review 2021

Luno Review‌ ‌by Newsflurry their History, Features, Pros and Cons Deposite Rules, Withdraw Policy and lots more fact about Luno

Among several, Luno is one of the top-rated Cryptocurrency exchanges available in the United Kingdom. According to us, the exchange seems to be one of the reliable trading companies found in Luno review.

The company headquartered in London. Its offices are spread across Singapore and Cape Town (South Africa). 

The exchange only accepts trading in Bitcoin (BTC) and Ethereum (ETH). In the Luno review, we found that it is one of the authentic exchanges in the United Kingdom. 

It has made it official that the entire of its products, services have been built on highly secure bank-position technology platforms. 

The designated platform undergoes regular financial audits to provide customers a better exchange for extensive trading.

Luno Review

Luno works with one of the leading investors in the United Kingdom.

The review on Luno found that Digital Currency Group, Balderton Capital, AlphaCode Club, Venture Capital, PayU, and Ariadne Capital Limited. This list does not contain the name of investors investing restricted coins in the exchange.

History of Luno

Luno was established in the year 2013. The company was recognized as BitX in its early days.

A former Google employee, Timothy Stranex, and Marcus Swanepoel are the co-owners of the company. 

BitX was rebranded to Luno and set up two new offices in the UK in the year 2016.

Features of Luno

In the Luno review, we found that there are three key features of Luno impressing every new customer. Regulation, verification process, and security features are the most valued keys of Luno.

  1. Regulation – It is a registered business, registration number: 1038885, operating from the UK. It adheres to the entire Cryptocurrency industry regulation to provide a secure platform to the users. 
  2. Verification Process – Luno seeks email addresses, mobile numbers, and identification of government-approved documents to open an account. The strict verification process ensures the authentic completion of KYC.
  3. Security – Luno supports 2-factor authentication. This feature ensures better protection of accounts and stores from authorized access. This is an amazing feature found in the Luno review.

Popular Countries of Luno

Luno is a European-based company trading in 43 countries, which includes three major continents Europe, Africa, and Asia. 

This is the list of countries supporting Luno found in the Luno review. 

  1. Austria
  2. Belgium
  3. Bulgaria
  4. Canada
  5. Croatia
  6. Cyprus
  7. Czech Republic
  8. Denmark
  9. Estonia
  10. Finland
  11. France
  12. Greece
  13. Guernsey
  14. Hungary
  15. Iceland
  16. India
  17. Indonesia
  18. Ireland
  19. Isle of Man
  20. Italy
  21. Jersey
  22. Latvia
  23. Liechtenstein
  24. Lithuania
  25. Luxembourg
  26. Malaysia
  27. Malta
  28. Monaco
  29. Netherlands
  30. Nigeria
  31. Norway
  32. Poland
  33. Portugal
  34. Romania
  35. San Marino
  36. Singapore
  37. Slovakia
  38. Slovenia
  39. South Africa
  40. Spain
  41. Sweden
  42. Switzerland
  43. United Kingdom

Pros & Cons of Luno

Every coin has two sides, therefore, Luno also has the Pros and Cons of its services.

Pros of Luno

  1. Luno provides a user-friendly interface to begin trading in Cryptocurrencies
  2. It takes a few minutes to convert crypto coins
  3. User can send emails regarding payments on fiat and crypto
  4. Luno business accounts can pay in crypto and fiat
  5. For beginners, it provides an extremely user-friendly interface and services

Cons of Luno

  1. Luno supports only Bitcoin and Ethereum
  2. It lacks a lending margin
  3. Good for beginners
  4. Luno not available in the United States
  5. It is not regulated.

Luno Scam Over the Years

In the Luno review, our research team found that Luno has not listed a single fraud in the world of Cryptocurrency exchange. 

For the past 5 years, the company holds a reputation as an honest and reliable Bitcoin and Ethereum exchange trading company in the United Kingdom. 

It has a limited trading option, yet it ensures that traders find a high-secure platform for their exchanges.

Luno App Review

Luno is an excessive app for cryptocurrencies; it permits one to trade. Stress-free to use, fast, and highly secure. 

Transactions are spontaneous and getting currency in and out is fast. 

Luno App Review [Google Play Store]

Luno App for Android has been downloaded for 57,329. The user rating it achieved is 4.3 stars on Google Play Store.

Luno App Review [Apple App Store]

Luno App for Apple (iPhone) has been downloaded for 161,329. The user rating it achieved is 4.5 stars on Apple Play Store.

Fees Structure of Luno

In terms of fee structure, Luno charges are considered quite competitive in the Cryptocurrency trading industry. 

EURSEPA TransferEUR 0.30
IDRBank TransferIDR 6,500.00
MYRInterbank GIRO / IBFTMYR 0.10
NGNBank TransferNGN 200.00

Deposit Rules of Luno

Luno lets you deposit fiat currency through wire transfer.

CurrencyAccepted MoneyFee
EUR (Euros)Ideal , Card , SEPA Transfer, Sofort , Debit Or Credit Card DepositFree
IDRInternet Banking , ATM , Mobile Banking , SMS , Other Bank TransferIDR 4000Free 
MYRBank Deposit , Card Deposit , Paystack 1.58%(max NGN 2070)1.50%(max NGN 2000)
NGNInterbank GIRO/ IBFTFree
ZAREFTFree ZAR 20.00 + 5%
ZMWBank TransferFree

Withdrawal Rules of Luno

According to the Luno review, Luno has a fixed withdrawal fee, which differs in accordance with exchanges. 

The global industry average withdrawal fee is arguably around 0.0006 BTC, and Luno charges 0.0005 BTC per withdrawal.

Region / CountryAccepted MethodFee
Europe /EURSEPA TransferEUR 0.30
Indonesia /IDRBank TransferIDR 6500.00
Malaysia / MYRInter-Bank GIRO / IBFTMYR 0.32
Nigeria / NGNBank TransferNGN 200.00
South Africa/ ZAREFTZAR 8.50
Zambia / ZMWBank TransferZMW 10.00

Maker and Taker of Luno

Luno has reduced Taker’s fees to 0.10, and Maker’s fees to nil across the board.

Summary of Luno

Luno is a leading Cryptocurrency exchange from the United Kingdom. According to Luno review, it offers to trade on Bitcoin and Ethereum only.

There is no other virtual currency supported by the platform.

The exchange offers extensive security measures to protect all transactions.

We discovered and tested the interface and found in Luno review that, for beginners, Luno supports limited traded fiat currencies.

Luno is used in the countries like Malaysia, Indonesia, and Nigeria.

Luno is among the exchanges in the United Kingdom that provide a user-friendly interface to the users.Luno allows an average trade to convert and spend in cryptocurrencies.

According to us, the exchange seems to be one of the reliable trading companies found in Luno review.

About the author

Tina verma

I'm a dynamic and passionate blog writer who brings words to life with her unique perspective and engaging writing style. With a deep love for storytelling and a keen eye for detail, I crafts content that not only informs but also captivates readers from diverse backgrounds.