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Luno Crypto Exchange Review (Luno.com reviews) – Is Luno.com Scam or Legit?

Read our Luno.com review to know everything about Luno Exchange. In this Luno review, you will get to know whether this crypto exchange is a scam or legit.

ShahZaib Ahmed

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Luno crypto exchange review

Introduction 

Luno logo

Luno.com, founded in 2013, the crypto exchange holds its position among the first to launch and operate for more than a decade in the cryptocurrency exchange industry. Being acquired by Bitfinial and further incorporated as Luno, the platform offers ease and customization of the user interface for beginner traders. 

luno interface

Luno Supported Cryptocurrencies

Luno exchange selects to have a narrow currency selection, which consists of Bitcoin (BTC) and Ethereum (ETH), the main coins. Similarly, to two previous major coins, Luno serves the purpose of many investors with its limited number of digital assets.

The lack of notable altcoins like Cardano (ADA) and Solana (SOL) could be a disadvantage for investors interested in even more different opportunities.

Luno Fee Structure

Luno trading platform guarantees the most transparency in terms of its fee structure, as it charges a 0.75% trading fee for the buy and sell of cryptocurrencies.

While this can be considered simple and attractive, it’s good to point out that some trade exchanges have lower commissions. High-powered Luno fees that vary and are highly dependent on the traffic on the blockchain may result in higher costs by users.

Features of Luno Exchange

Luno’s unique features include an easy-to-use interface, strong security systems, and educational content that helps effectively gain knowledge in the field of e-currency.

luno features

Luno crypto platform can remove the barriers that hinder investors from buying, selling, sending, and receiving digital assets, making it a good resource for beginners of cryptocurrencies.

luno features

However, for an experienced trader, Luno crypto exchange may appeal less as he might expect more advanced functions from a professional exchange, such as more advanced trading tools and the ability to stake coins.

Trading View

Luno.com cryptocurrency exchange’s tool empowers its users with a highly friendly interface for trading that is dispensable for both desktop and mobile devices. Although it does not feature high-end next-level charting and analysis that are most central to experienced traders, its ease of use and usability are probably the best features for beginners.

Also Read: XT Crypto Exchange Review (xt.com reviews) – Is XT.com Scam or Legit?

The platform’s trading view is equipped with basic tools for carrying out trades and tracking price action. However, it is considered insufficient for advanced traders who desire to use more in-depth analysis techniques in their trading.

Deposit and Withdrawal

Depositing funds into Luno.com can be done via debit card payments, with bank account transfers available in select regions. However, U.S. investors are currently limited to debit card payments only. Cryptocurrency deposits are free, but withdrawal fees vary depending on network traffic. 

Security and Privacy

Luno prioritizes the security of its users’ funds and personal information. Utilizing a combination of offline cold storage and multi-signature hot wallets, Luno ensures the protection of most cryptocurrency funds.

luno features

Advanced security measures, including two-factor authentication and transaction authorization protocols, bolster account security against potential threats. Additionally, Luno encrypts wallet backups and adheres to stringent privacy standards, safeguarding users’ sensitive data.

Mobile Application

Luno has a mobile version that stands behind a web platform, making it possible for users who opt for the convenience of trading. The mobile app retains the customer-friendly design and safeguards, making it possible for a user to access the full account functionality from a variety of smartphones or tablets. The application might not have some of the improved features that exist in the web version. 

Customer Support Services

Luno’s customer support services primarily rely on a help page and inquiry form for user assistance. Despite lacking live chat, Luno aims to address user inquiries promptly through its online channels. While basic support options are available, the absence of direct communication channels may pose challenges for users requiring immediate assistance.

Pros and Cons

Pros

  • Beginner-friendly interface
  • Transparent fee structure
  • Strong security measures
  • Educational resources for cryptocurrency learning
  • Availability of mobile application for convenient trading on the go

Cons

  • Limited selection of cryptocurrencies
  • Lack of advanced trading features
  • Absence of live chat or telephone customer support
  • Dynamic withdrawal fees based on network traffic

Conclusion

luno overall

Luno.com crypto exchange is a reliable trading platform that provides beginner investors with a user-friendly trading interface and security features. Luno’s connection to simplicity and reliability will convince buyers to try it out. The spotlight falls on accessibility and education as Luno aims to be the one place where users can learn and get equipped to conquer the unknown terrain of cryptocurrencies.

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