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Luno Exchange Review for 2020 – Can You Trust It?

Luno Review

Luno is a simple-to-use cryptocurrency exchange that offers a limited, but well-delivered range of services in a trusted, reliable, and secure fashion. Luno is geared-towards newer users in the crypto market, with attractive and easy-to-use interfaces, as well as a wide range of knowledge and support services. Luno also offers some of the most competitive […]

Luno Exchange Review for 2020 – Can You Trust It? was originally found on Blokt – Privacy, Tech, Bitcoin, Blockchain & Cryptocurrency.

Republished by Plato



Luno is a simple-to-use cryptocurrency exchange that offers a limited, but well-delivered range of services in a trusted, reliable, and secure fashion.

Luno Review
Luno Review – A Trusted, Reliable, and Low-Cost Ethereum and Bitcoin Exchange

Luno is geared-towards newer users in the crypto market, with attractive and easy-to-use interfaces, as well as a wide range of knowledge and support services. Luno also offers some of the most competitive fee structures in the industry, reinforcing this focus on accessibility and functionality.

That said, with a limited number of supported countries and only 2 supported cryptocurrencies, cryptocurrency investors will need to open an additional account with another exchange to access the full crypto market (Read our ‘Best Cryptocurrency Exchange‘ guide to see our top 10 recommendations). Despite this, Luno does offer an advanced trading platform to work with for those who want to trade ETH and BTC.

2 supported crypto coins - Source:
2 supported crypto coins – Source:

Luno will appeal most to people who want a simple interface for performing fiat-to-crypto trades that involve major cryptocurrencies (ETH & BTC) and fiat currencies from Europe, Southeast Asia, and Africa.

If it sounds like Luno might be the best Bitcoin exchange for your needs, then please read on to find out more.

This review will cover the quick facts about Luno, its distinguishing features, its verification process, its fee schedule and will provide a quick pros and cons summary of what we have learned.

Armed with this knowledge, you will be able to decide if it’s worth your time to investigate Luno further.

“When you rest, you rust. That’s something we firmly believe at Luno, which is why we are always working to change and adapt. Disruptive technologies, like cryptocurrencies, can carry negative connotations and instill a sense of fear by the simple use of big-bad-wolf words like ‘disruptive’. Instead, you could consider this technological disruption a factor of positive change, especially when it comes to having more control over your own money.”

Team Luno,

Team Luno

Quick Facts

Luno Facts Sheet
Exchange Type: Centralized
Fiat-to-Crypto: Yes
Crypto-to-Crypto: Yes
Number of Fiat Currencies Traded: 5
Number of Cryptocurrencies Traded: 2
Number of Countries Supported: 40
Bank Transfers/Deposits: Yes
Credit/Debit Cards: Yes
Wire Transfers: No
PayPal: No
Exchange Wallet(s): Yes
Account Size Limits: No
Margin Trading: No
Spending Limit Periods Yes
Trading Fees: 0.2% – 1% taker fee depending on 30d volume and trading pair
Deposit/Withdrawal Fees: Negligible withdrawal fees and deposit fees with 1 exception
Headquarters: UK
Incorporated: Singapore
Luno Review Homepage
Luno Review Homepage

Cryptocurrency exchanges tend to come in a lot of different shapes and sizes, and Luno is no exception.

Luno presents itself as a secure place for people to buy, sell, and store Bitcoin and Ethereum, and also has a surprisingly advanced trading platform. So how is it different from industry leaders like Coinbase, Binance, FTX etc?

Lino Review Features - Source:
Lino Review Features – Source:

However, overall Luno’s best features are its functionality and the cost savings it offers to cryptocurrency users from its supported countries.

“While we and many other Bitcoin companies are actually fundamentally digital currency agnostic, Luno is currently very focused on Bitcoin, purely because there is no other digital currency that is as safe and widely used at this time.”

Marcus Swanepoel, CEO of Luno

Marcus Swanepoel

Luno Review Features
Luno Review Features

Low Fees Overall

Easily the best feature of Luno is its commitment to low fees in general.

Many deposit and withdrawal options are free, with only a nominal charge on the rest.

Luno’s transaction fees are also very competitive, with 0% maker fees for all currency pairs.

Anyone looking to transact in Bitcoin and Ethereum without having to worry about fees will be well-served by Luno, particularly those users looking to avoid the often high industry standard credit card fees out there.

Luno Review Desposit and Withdrawal Fees
Luno Review – Deposit and Withdrawal Fees

Go to Luno


Major African and Southeast Asian Fiat Currencies Supported

While almost all fiat currencies can be used on modern crypto exchanges, they generally need to be converted to a major currency, such as the USD or EUR, before they can be deposited and traded.

Major African and Southeast Asian Fiat Currencies Supported - Source:
Major African and Southeast Asian Fiat Currencies Supported – Source:

This means you have to pay the conversion fees with your payment providers on top of the fees the exchange charges itself.

However, Luno offers a range of major fiat currencies from Southeast Asia and Africa (ZAR, IDR, MYR, and NGN) which allows users from these populous nations to transact and trade in their own currency, and hence, avoid the conversions fees they would encounter with most other exchanges.

Relaxed Verification Restrictions

Luno lets users transact strictly in crypto with no identity documents required for its lowest level of verification, and even lets users from a small number of countries trade small amounts of crypto at this level.

While users who want to trade significant amounts of crypto will still need to meet industry standards of verification, this first level of access is helpful for people who only need to transact in small amounts of fiat currency or in strictly crypto transactions.

Luno Review Verification Limits
Luno Review Verification Limits

Registration and Verification

Luno’s verification process is slightly more relaxed than the current industry standard, allowing some users to buy and sell a small amount of crypto based only on account confirmation through a mobile device and the submission of some personal details without identity document verification.

This is in contrast to the growing trend among crypto exchanges that require identity document verification before any fiat currencies can be deposited and withdrawn or digital assets bought and sold. Which is increasing more and more today.

Registration and Verification - Source:
Registration and Verification – Source:

In addition, this first verification level is also adequate for people from both supported and unsupported countries to send, receive and transact with Bitcoin and Ethereum using their Luno wallet.

For the higher daily and monthly limits, users need to reach the second verification level by supplying a photo of their identification document and a selfie. This second verification level will increase the daily and monthly maximums slightly.

To get the industry standard daily and monthly deposit and withdrawal maximums for their account, users must undertake the third level of verification. This third verification level at Luno requires the photo of a proof of address.

The Luno daily and monthly maximums for this third level of verification are around what most exchanges will offer for both identification document and proof of address verification. Some exchanges will offer higher daily and monthly limits or unlimited accounts with income and asset verification, but Luno does not currently offer this higher level of verification.

Luno Review Verification Levels
Luno Review Verification Levels

Luno has a quite extensive deposit and withdrawal fee schedule based on the supported country that ranges from the best in the industry for almost all options to among the worst for one single option. However, overall the deposit and withdrawal fees are very competitive.

LUNO Fees Schedules
LUNO Fees Schedules

Luno’s transaction fees are also more complicated than most exchanges, being based on 30d volume and the fiat currency pairing. The Luno market maker fees are some of the best in the industry, while the market taker fees range from decent to very good.

Transaction Fees

Transaction fees at Luno follow a maker/taker model.

Market maker fees are a flat zero across all trading pairs, while they vary from 0.2% to 1% for market takers based on the fiat currency pairing and your 30d trading volume.

Even the high end of 1% is a decent transaction fee by industry standards, though far from the best, and the low end of 0.2% to 0.25% is very good.

Luno Review Transaction Fees
Luno Review Transaction Fees

Credit Card Fees

While only available for deposits in Euro (EUR) and Nigerian Naira (NGN), Luno’s credit card fees are extremely competitive at zero for EUR and 1.58% for NGN up to a maximum deposit fee of NGN 2,070.

Bank Transfer Fees

All of Luno’s bank transfer fees except one can be considered as nominal, coming in at less than €5 equivalent.

The one exception is Luno’s South African Rand (ZAR) cash deposit penalty of 5%+.

Pros and Cons

Here is our brief pros and cons breakdown of what this Luno review has shown us.

Luno Pros and Cons
Luno Pros and Cons

  • Very low fees
  • Simple and intuitive interface
  • Good range of crypto transaction services
  • Trading pairs with ZAR, NGN, MYR, and IDR
  • High quality trading platform

  • Only 2 cryptocurrencies supported
  • Limited countries supported

Closing Thoughts

Luno is a great option for people from the supported countries who only require transactions or trades that involve Bitcoin and Ethereum, or are looking for a low-cost fiat-to-crypto on-ramp. The simple interface and very competitive fees mean that there are few better options out there for people who fall into this group.

Closing Thoughts - Source:
Closing Thoughts – Source:

People from Indonesia, Malaysia, South Africa, and Nigeria will be particularly well-served by the ability to bank and trade in their native currencies.

However, users looking for more advanced trading features, more tradable cryptocurrencies or people from a large number of unsupported countries will likely be better off looking elsewhere for their cryptocurrency exchange services.

Go to Luno


Disclosure: Blokt strives to provide transparent, honest reviews, and opinions. The writer of this article is a user of the product(s) or service(s) mentioned in this article and was not influenced by the respective owners.

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There is something different this time around for MATIC and ETH

Republished by Plato



MATIC’s growth has been community and developer-driven. Trading at the $1.13 level and registering 27% gain in price in the past 24 hours, MATIC’s rally is an extended one, leading the altcoin season 2.0. However, there is something different this time around, MATIC is currently rallying alongside ETH, more as an ally, than a competitor. With ETH’s price above the $3700 level, and MATIC’s rally, the alt season has offered several opportunities, consolidating alts and rallies following closely after.

Here's why traders are bullish on MATIC and ETH

MATIC network || Source: Twitter

Since the release of the latest transparency report on Polygon Multisigs, Polygon has become more relevant and there is increased demand for the altcoin across exchanges. Multisigs are used by top projects that have the feature of updating smart contracts. This is not the case for Ethereum, since smart contracts on Ethereum are immutable by design ie. they can not be changed once deployed.

However, this feature also means that if there is an inherent error or potential exploit in the code, there is no way to fix it. Upgradeable contracts are needed and that’s where Polygon’s narrative fits in, making it a much-needed scaling solution and an upgrade on ETH.

The current network statistics for MATIC are looking bullish since there are over 65.8 Million total transactions in over half a million wallet addresses and at $10.4 Billion market capitalization. The trade volume has increased consistently since the beginning of 2021 and more buyers are lining up across spot and derivative exchanges.

The demand for MATIC and the number of transactions have increased and are expected to increase to the level of Ethereum before the end of the alt season. The increase in wallet addresses and unique users is a direct measure of MATIC’s demand as an L2 scaling solution for the #1 altcoin in the crypto market.

The competition with ETH is no longer as intense, considering the fact that ETH’s increasing popularity contributes to the network growth and inflow of investment to MATIC. MATIC’s transaction volume largely depends on ETH’s network and the fact that ETH needs a scaling solution despite the launch of L2, has led to a symbiotic relationship between the two altcoins.

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Litecoin price prediction: Litecoin trades above $300, attempt to break below later?

TL;DR Breakdown LTC retests the $300 support overnight. Lower local low set at $320. Next support at $280. Today’s Litecoin price prediction is bearish as the market rejected further upside around $320 earlier today and currently moves lower to attempt to break below the $300 once again. The overall market trades in the red today. […]

Republished by Plato



TL;DR Breakdown

  • LTC retests the $300 support overnight.
  • Lower local low set at $320.
  • Next support at $280.

Today’s Litecoin price prediction is bearish as the market rejected further upside around $320 earlier today and currently moves lower to attempt to break below the $300 once again.

Litecoin price prediction: Litecoin trades above $300, attempt to break below later? 1
Cryptocurrency heat map. Source: Coin360

The overall market trades in the red today. Bitcoin has lost more than 2 percent and trades around $48.900. Meanwhile, Ethereum is among the worst performers with a loss of more than 5 percent. Alternatively, Stellar (XLM) is among the best performers, with a gain of 5 percent over the last 24 hours.

LTC/USD opened at $300.11 today after a bearish close yesterday that resulted in another retest of the $300 mark. Over the past hours, LTC/USD rejected further upside, indicating that we should see another push lower over the next 24 hours.

Litecoin price movement in the last 24 hours

The LTC/USD price moved in a range of $297.59 – $323.76$, indicating a moderate amount of volatility. 24 hour trading volume has dropped by 7.15 percent and totals $5.2 billion. The total market cap stands at $20.6 billion, ranking the cryptocurrency in 12th place overall.

LTC/USD 4-hour chart – LTC prepares to break below the $300 support again

On the 4-hour chart, we can see moving lower over the past hours as bears attempt to finally break below the $300 mark. 

Litecoin price prediction: Litecoin continues trading above $300, attempt to break below later?
LTC/USD 4-hour chart. Source: TradingView

Overall, Litecoin price action momentum continues to be bearish as the market retraces after setting a new all-time high at $413 on the 10th of May. Previously, we saw Litecoin rally around 80 percent from the $220 major support area, indicating we could see a similar upswing over the following weeks.

First, Litecoin has to finish retracing from the current high. Support around the $300 mark was reached on Thursday. From there, Litecoin retested the $335 resistance and reversed to the $300 overnight. 

Over the past hours, LTC/USD moved higher and established another lower high around the $320 mark. Therefore, we expect Litecoin to attempt to push below this support over the next 24 hours. Once the $300 support breaks, the next support is located around the $280 mark. 

Since the $280 level previously acted as a very strong support, we should see the market price reverse back to the upside next week. From there, LTC/USD should move higher and try to establish another several-week upswing and set further all-time highs.

Litecoin Price Prediction: Conclusion 

Litecoin price prediction is bearish as the market continues setting lower highs over the past few days. LTC/USD currently attempts to move lower once again to break the $300 support. Therefore, we expect further downside over the next 24 hours, with the next support target at the $280 mark.

While waiting for further Litecoin price action development, read our guides on how to buy Ripple, mine Monero, and long-term Ethereum Classic price prediction.

Disclaimer. The information provided is not trading advice. holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decisions.

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Why Uniswap, Cardano, Solana, and Dogecoin Could Become Best-Performing Cryptos Of 2021

Republished by Plato



Why Uniswap, Cardano, Solana, and Dogecoin Could Become Best-Performing Cryptos Of 2021

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The year has been a good one so far for altcoins. There’s no denying Bitcoin’s pedigree and influence on the market as it is still the biggest cryptocurrency by far in the crypto space. Having said that, there are a lot of altcoins or relatively smaller and cheaper cryptocurrencies which have attracted investors and newbies looking to diversify their crypto portfolios. As crypto adoption continues to grow so has the interest in it which has been evident in the last few months. Institutional interest is at an all-time high as many traditional companies, firms and institutions are boarding the cryptocurrency bandwagon.

There are a lot of altcoins putting up impressive numbers guaranteed to give back good yields and this article sheds light on four of them.

Uniswap (UNI)

Uniswap is one of the dApps based on the Ethereum blockchain. The project allows users to trade Ethereum tokens through liquidity pools. The DeFi coin boasts of being the first decentralized exchange with the option of a margin and leverage trading.

The UNI coin has two main services, thus delivering and utilizing liquidity. Although it is new in the crypto space as it was released into the market last year, its performance has made it one of the leading DeFi coins on the market.

UNIUSD Chart By TradingView

Uniswap v3 was released days ago, an upgrade of its protocol and aims to provide better oracles, new fee tiers as well as give users more control over the liquidity they provide. Many analysts believe the coin is expected to blow and with its price at $36, it would be a steal compared to others.

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Cardano (ADA)

Cardano has been one of the popular coins on the crypto market for some while. Its network has a smaller footprint which makes it flexible, more adaptable, and secure. Transactions are faster as it requires less energy, and have interoperability and scalability among its pros.

ADAUSD Chart By TradingView

Cardano’s recent update has equipped it with the ability to build smart contracts which have attracted a lot of dApp developers, a sector that is blowing up this year. The coin is 4th on the crypto ladder with a trading price of $2.32 which has seen a 27.35% rise within the last seven days.

Solana (Sol)

Another coin that is making a name for itself in the fast-growing DeFi ecosystem is Solana.

Launched in March 2020, the digital project has enjoyed a steady rise, making its way up the crypto ladder with impressive runs. Sol is currently at 16 on the crypto ladder with an impressive market valuation of $14 billion.

SOLUSD Chart By TradingView

Its Proof-of-History algorithm has the highest speeds of a transaction and offers relatively cheaper transaction fees as compared to other coins such as Ethereum. The digital asset currently trades above $50.

Dogecoin (DOGE)

DOGE has defied many odds to become one of the fastest-growing digital coins on the crypto market presently. Created as a meme coin back in 2013, it has seen a major resurgence taking its price from $0.0076 to an all-time high of $0.7 in less than 21 days led by Elon Musk’s never-ending endorsements.

DOGEUSD Chart By TradingView

Dogecoin has seen a surge of over 8000% so far this year and remains one of the cheapest coins to buy. It is currently trading at $0.5, and despite the many controversies surrounding DOGE, it does have what it takes to yield massive progress if adopted by Tesla for payments.

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