Best Cryptocurrency Exchange

Luno Review: Pros, Cons, and More

Luno Review: Pros, Cons, and More
Written by publisher team

The most important advantages

Beginner-friendly crypto trading

As an exchange, Luno makes cryptocurrency trading easy and accessible. It has a web platform and an easy-to-use mobile app for beginners, so if you’re new to coding and want to exchange without much of a learning curve, Luno is an excellent choice. You can register and verify your identity in minutes. After that, you just deposit funds through one of the accepted payment methods, and you can buy cryptocurrencies.

Earn interest on cryptocurrency savings

Luno offers a savings wallet where you can earn a variable interest rate on your crypto holdings. There are three types of cryptocurrency savings wallets available:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Dollar coin (USDC)

If you are investing in any of these cryptocurrencies, putting them into a savings portfolio is a simple way to generate passive income.

low fees

Luno’s trading fees are competitive with the fees of the best cryptocurrency trading platforms. Maker-taker fees start at 0% and 0.1%, and can go down for investors with high monthly trading volume. There are not many platforms that outperform cryptocurrency trading fees by 0.1% or less.

safe storage

Security is important to any crypto exchange, and this is an area where Luno excels. It uses what it calls crypto storage to “deep freeze” the majority of client funds. The keys to this encryption are encrypted, and are kept in bank vaults within safe deposit boxes. The small portion of the cryptocurrency that Luno uses for daily operations is held in a combination of cold (offline) and hot (online) wallets.

unexpected events

Luno has some of the best educational contents we’ve found from a cryptocurrency exchange. Their learning portal includes articles about cryptocurrencies in general, and about each of the cryptocurrencies they offer. It also contains videos accompanying several articles, and a blog with the latest cryptocurrency news.

Luno’s content is informative and understandable. It’s also not overly complex, which is a common problem in the crypto world.

About the author

publisher team