Luno 2023. 6,003 Users Review - Is It Safe?
Cryptocurrency trading is a trend that started around 11 years ago. In the early years of Bitcoin's existence, its trading was carried out in lower volumes, and not many people showed interest in it. As new coins began to appear on the market, interest increased. With that, some kind of commercial service was needed.
In the world of stock trading, these types of services were already widely used, but none of them could have been adopted to work with cryptocurrencies. The solution to the problem was the development of cryptocurrency trading platforms. Luno was one of those first trading platforms to be developed.
Now, let's dive into the Luno review.
What other people are saying in video:
- What is Moon?
- Moon Features
- Fee Structure
- Conclusion
What is Moon?
Luno is one of the first cryptocurrency exchanges that launched in 2013. Back then, it was called BitX, a name that was changed in 2016 for Luno. Over the years, the company saw a steady growth in transactions and users, thanks to the new technologies implemented and the advanced security it offered. The steady rise in popularity saw a significant increase in 2019, where Luno started appearing on many top lists.
Since its initial launch, Luno has managed to spread and is comprised of experts from Google, Morgan Stanley, Amazon, Barclays, and more. Today, they have offices in 8 major cities around the world.
Luno claims to process more than 5.5 million in Bitcoin daily, and since its launch, it has processed more than 17 billion in transactions on its platform. Right now, it supports residents of more than 40 countries around the world.
Moon Features
There are only two aspects to Luno: the exchange and the wallet. Despite that, there are many features implemented that make this a highly desirable platform.
Moon Exchange
For many years, the only two cryptocurrencies available on Luno were Bitcoin and Ether. A few years ago, they included XRP, Bitcoin Cash, and Litecoin. Today, the service supports more than 30 trading pairs with some fiat currencies included.
Liquidity is one of the main characteristics of the Luno bag. It provides a spread ensuring that the trade will be executed at the price you want. There may be some small tradeoffs, but the difference is negligible. This is achieved by the lowest fees and the amount of volume in combination with the number of active users.
Next up is speed, something Luno likes to brag about. Low latency ensures that each transaction takes place in mere milliseconds. This, in return, means that you are getting a secure and reliable platform for your trading endeavors.
When it comes to usability, Luno is not the platform that will make you want to read a manual to find out how it works. While you will need to have some basic knowledge to be able to understand the charts and information it has, you won't need a ton of experience to start trading. The way I see it, Luno took some design cues from Binance and made it much easier for even the novice trader to understand.
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Moon's Wallet
As with most trading platforms, Luno offers a wallet to store your cryptocurrencies. The benefit of this is that you avoid moving your assets back and forth between the platform and your wallet. The advantage of this approach is that it saves time and fees.
Speaking of, transfer fees is another thing Luno seems to get right. If you want to transfer assets to another person, you can do so free of charge, as long as the receiving person uses Luno. Even though the platform doesn't support tons of cryptocurrency, sending it to another wallet without fees is a nice feature.
When it comes to security, Luno cares about its users' coins and how protected they are. The wallet, which we'll talk about in a minute, has the best of the best protections, ensuring that only you can have access to your assets. Its deep freeze storage option keeps wallets with multi-signature protection that sits behind multiple layers of encryption.
Moon Rewards
Recently, Luno added a new feature to the platform called Luno Rewards. This option runs through your existing Luno VIP, where a select number of merchants can be a part of. Essentially, as part of the program, you get some benefits like monthly bonuses, VIP support, trading signals, cashback, and more. While there are some strings attached to being a part of this program, if you're active and your portfolio is growing, you shouldn't miss out.
Luno Learning Portal
When it comes to a knowledge base, most trading platforms seem to provide a lot of information, but most of it focuses on the platform itself and how it works. Luno takes a different approach with its learning portal, giving you tons of information about the cryptocurrencies you can trade there.
#Bitcoin be
⚪️Giant
Garbage️Giant-nothing Burger
Eleven Once again a trillion 1 trillion dollar asset
— Luno (@LunoGlobal) March 9, 2021
The first section gives you an in-depth guide on what cryptocurrencies are, where you get an introduction to the first cryptocurrency on the market, Bitcoin. On top of that, you get some information on other types of blockchain networks, as well as some information on wallets. The other 5 sections cover a large amount of information about each cryptocurrency available on the trading platform. The information is well packed into relatively short articles, and for each one, you can get a decent amount of information and a comparison between that crypto and bitcoin.
One of the best additions to this section is the fact that some of the content is also available in video format.
moon app
The Luno Services can be accessed from your computer's browser, which means you are not limited on where you can access them. Apart from that, you can also download their mobile app and use the services on the go. The app is available for Android and iOS, so compatibility won't be a problem for you.
On the functionality side of things, regardless of which option you choose, you will be unrestricted.
moon shop
Something that we don't see very often is a store that is part of a trading platform. Luno has cooperation with 6 third-party merchants where you can get products. Some of them sell hardware wallets, while others offer gift cards or an option to pay for another service using cryptocurrency.
Fee Structure
Just like any other trading platform, Luno has fees for its users. There are several types of rates, and each one has some limitations. While you do not have fees for some actions, such as sending assets to another Luno wallet, other actions do have fees. Some fees have a fixed percentage, while others may be dynamic. Another thing to consider is that the price or percentage of the fees will depend on the location.
Unlike some of Luno's competitors, the fees seem more affordable, and for a platform that's been around for so long, it may be worth it.
Conclusion
Luno is the type of trading platform that may not get as much popularity as the others, but it's still an excellent service that shouldn't be overlooked. With it, you get tons of features baked into the exchange and wallet, as well as the flexibility to use it wherever you want. As a bonus, you have the option to learn a lot about the world of crypto through their learning platform, which comes in the form of articles or videos. A VIP program is available to the successful trader, where they will get tons of perks, which means making successful trades will pay off. Finally, Luno's partnerships with third-party merchants mean you can get a few extra goodies without leaving the website.
To sum things up, Luno is the trading platform you should visit. If you like what you see, you should create an account and start trading.
- Ease of use
- Fiat money support
- Low fees
- limited functionality
别的交易所转入USDT，Luno 会收到吗？
Easy to understand for newbie, only trusted and stable coin Gamu
"Thank you for this insightful review! Luno seems like a game-changer in the crypto world, offering a seamless platform to buy, save, and manage cryptocurrencies all in one place. Your detailed analysis provides valuable information for anyone looking to navigate the crypto landscape with confidence. Keep up the great work!"
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