Luno Review: Pros, Cons, and More

Top perks

Beginner-friendly crypto trading

As an exchange, Luno makes crypto trading easy and accessible. It has a beginner-friendly web platform and mobile app, so if you’re new to crypto and you want an exchange without much of a learning curve, Luno is an excellent choice. You can sign up and verify your identity in minutes. After that, you just deposit money through one of the accepted payment methods, and you can buy crypto.

Earn interest on crypto savings

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

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • USD Coin (USDC)

If you invest in any of these cryptos, putting them in a Savings wallet is a simple way to make passive income.

Low fees

Trading fees on Luno are competitive with those of the best cryptocurrency exchanges. Maker-taker fees start at 0% and 0.1%, and can get lower for investors with high monthly trading volume. There aren’t many platforms that beat crypto trading fees of 0.1% or less.

Secure storage

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

Educational resources

Luno has some of the better educational content we’ve found from a crypto exchange. Its learning portal includes articles on cryptocurrency in general, and about each of the cryptocurrencies it offers. It also has videos accompanying many articles, and a blog with the latest crypto news.

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

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