How To Create Luno Account

Details

Details

Product Name	Luno Cryptocurrency Exchange
Fiat Currencies	AUD, EUR, GBP, IDR, MYR, NGN, ZAR, SGD, UGX, ZMW
Cryptocurrencies	BTC, ETH, BCH, XRP, LTC, USDC
Deposit Methods	Bank transfer Credit card Cryptocurrency Debit card PayID SEPA
Trading Fee	Maker: 0% (up to 25% for MYR) Taker: 0.03-10% (0.08-0.20% for IDR) (0.15-0.50% for MYR)
Deposit Fees	Varies by payment method
Withdrawal Fees	Fee varies

Andrew Munro was the global cryptocurrency editor at Finder, covering all aspects of cryptocurrency and the blockchain. Andrew has a Bachelor of Arts from the University of New South Wales.

Disclaimer: This information should not be interpreted as an endorsement of cryptocurrency or any specific provider, service or offering. It is not a recommendation to trade.

Which fiat and cryptocurrencies are supported?

Supported fiat currencies: AUD, EUR, GBP, IDR, MYR, NGN, ZAR, SGD, UGX, ZMW
Supported cryptocurrencies: 6 cryptocurrencies

Which payment methods are accepted?

Bank transfer
Credit card
Cryptocurrency
Debit card
PayID
SEPA

Go to Luno's website

What's it like to use Luno?

1. Dashboard

You'll find everything you need on the dashboard after signing in.

2. Sending and receiving

You can send BTC and ETH to other Luno users through their email address, phone number or anywhere with a wallet address.

3. The market

Instantly buy and sell BTC or ETH. You can also go to the market to trade with others.

4. Help centre

Get answers to your questions at the Luno help centre.

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Fees and limits

Platform trading fees

Luno trading fees get vary based on your total trade volume over the last 30 days. After hitting IDR1 billion equivalent in 30 day trading volume you can start getting discounts.

30 day trade volume	Maker fee	Taker fee
< IDR1 billion	0%	0.2% – 0.1%
IDR1 billion+	0%	0.2% – 0.09%
IDR10 billion+	0%	0.2% – 0.08%

Deposit and withdrawal fees

Deposit fees

Deposit method	Fee
ATM, Internet banking, mobile banking	Free
Cryptocurrency deposit	Free (minus blockchain fees)

Withdrawal fees

Withdrawal method	Fee
Bank transfer	IDR15,000

Limits

The minimum instant buy/sell purchase is IDR15,000, the maximum purchase size is IDR120,000,000. There is no limit on the number of transactions that can be done, and these limits do not apply to the exchange.

How fast will my funds be available?

Deposits

Clock icon for transfer speed

Up to 48 hours

Deposit times vary depending on the currency and payment method. Bitcoin deposits are available in about half an hour, while credit and debit card deposits are typically available within minutes, as are IDR, GBP and SGD bank deposits. Other currencies will usually take one or two business days to arrive in your account.

Withdrawals

Clock icon for transfer speed

Within 24 hours

Withdrawals will typically be processed on the same day, with the potential exception of weekends and public holidays. While most supported currencies are available for withdrawal 24 hours a day, MYR, ZAR and UGX are processed in batches and may take longer.

Is Luno safe to use?

Regulation. Luno is a registered business (Company number 10388856) in the UK. Formerly known as BitX, its founders have a long history of calling for a safer and more tightly-regulated cryptocurrency industry.
Verification process. Luno offers several verification levels to suit different users. The level 0 verification prohibits trading and is the default after initial sign-up. To trade at all, users will need to confirm their mobile number and provide some basic details. The tiered verification level provides more flexibility to users, while still meeting Luno's commitments to compliance.
Security features. Luno supports 2-factor authentication to better protect your account and stores most user funds in offline cold wallets. In addition, it uses multi-signature wallets when unlocking hot wallets, meaning at least two different parties hold separate parts of the key, and all are needed to unlock the wallets.

How do I create an account at Luno?

Go to Luno's website

What else do I need to know about Luno?

Luno was founded in 2013, starting off in Cape Town, South Africa. Initially called BitX, it rebranded to Luno in 2017. By the start of 2018, Luno claims to have had over 2 million customers and to have processed over USD$5 billion.

It's known for its goal to serve unbanked populations, facilitate lower-cost remittance payments and otherwise make it easy for people to unlock the practical applications of Bitcoin. To this end, Luno has been a well-known and active voice in the regulatory development of the industry.

In a nutshell

Pros

Simple and straightforward. Luno can help people buy, sell and send BTC, ETH, BCH and XRP without fuss.
Easy transfers. Luno lets you send and receive BTC, ETH, BCH and XRP to and from other users for free, with email or phone number.
Tiered verification. The tiered verification structure helps keep sign-ups quicker.
Managed wallet. The built-in Luno wallet makes things simpler for first-time users.

Cons

Third-party wallet. By keeping your crypto on Luno, you're entrusting it entirely to Luno. This can be risky if something goes wrong.
Debit/credit card deposits not supported. Luno doesn't support debit/credit card deposits for IDR, so any deposits will have to be done via bank transfer, ATM, Internet or mobile banking.

Go to Luno's website

Frequently asked questions

Disclaimer: Cryptocurrencies are speculative, complex and involve significant risks – they are highly volatile and sensitive to secondary activity. Performance is unpredictable and past performance is no guarantee of future performance. Consider your own circumstances, and obtain your own advice, before relying on this information. You should also verify the nature of any product or service (including its legal status and relevant regulatory requirements) and consult the relevant Regulators' websites before making any decision. Finder, or the author, may have holdings in the cryptocurrencies discussed.