Luno is a multifunctional service that offers a free multicurrency crypto wallet called the Luno Wallet, allowing users to easily exchange, buy, and sell cryptocurrencies such as Bitcoin, Litecoin, Ethereum, XRP, and more. With an investment system in place, Luno enables users to profit from cryptocurrency deposits potentially.
This Luno review will explore the platform’s features, security measures, and user experience. The platform provides a proprietary trading terminal accessible through web and mobile applications, ensuring convenient trading experiences.
Luno pros and cons
Traders Union explores the advantages and disadvantages of Luno, offering an unbiased viewpoint for aspiring traders to consider.
Pros:
- Convenient and functional trading terminal available on both web and application
- Free multicurrency wallet with complimentary service
- Investment system offering an annual interest rate of up to 7.6%
- High level of information security measures in place
- Extensive selection of significant cryptocurrencies and crypto-to-fiat trading pairs
- Large trading volumes and an efficient service speed
- One of the lowest trading commissions, with 0.00% for makers
Cons:
- No referral program is available
- Limited fiat options, with only EUR and GBP supported
Expert review of Luno
TU experts have thoroughly analyzed the Luno crypto exchange, operating since 2013. Here is a summary of their findings:
- Licensing and Main Investor: Luno is a licensed company whose leading investor is the DCG Group.
- Exchange and Sale Services: Luno provides cryptocurrency exchange and sale services, supporting a wide range of popular cryptocurrencies and fiat currency pairs, including EUR and GBP.
- Trading Volumes and Progressive Activity: The analysis confirms significant trading volumes and high progressive activity on the platform.
- Luno Wallet: The Luno Wallet offers standard functionality to users.
- Proprietary Trading Terminal: Luno has a standard trading terminal that lacks unique features.
- Luno Savings: The platform offers Luno Savings, an investment system providing annual interest on cryptocurrency deposits.
- Business Solutions: Luno provides proprietary solutions for businesses, including the API Luno.
- Security and Compliance: The analysis reveals no controversial situations, deceptions, or non-compliance with customer obligations. The security system for data collection and fund storage is considered reliable.
- Beginner-Friendly Trading: Trading on Luno is convenient for beginners due to the trading terminal’s simplicity and the Learning Portal’s presence.
- Low Commissions: Luno offers one of the lowest commissions in the segment for traders.
Analysis of the main features of this crypto exchange
TU analysts have evaluated various aspects of Luno’s performance and assigned scores based on their findings. Here is a summary of the scores given:
- Overall Score: Luno receives an overall score of 3.49 out of 10.
- Execution of Orders: Luno scores 3.91 out of 10 for the execution of orders.
- Investment Instruments: Luno scores 3.55 out of 10 for its range of investment instruments.
- Withdrawal Speed: The platform scores 3.85 out of 10 for withdrawal speed.
- Customer Support: Luno’s customer support work scores 3.33 out of 10.
- Variety of Instruments: Luno scores 4.07 out of 10 for various instruments available.
Broker comparison for Luno
Traders Union provides a concise comparison of investment options across multiple platforms:
- Bybit: A popular platform for cryptocurrency derivatives trading, offering advanced financial services such as futures and perpetual contracts.
- OKEx: Renowned digital asset exchange with various trading products, including spot, futures, and options trading.
- Binance: Leading global cryptocurrency exchange providing spot, futures, and token trading services.
- Huobi Global: Central digital asset trading platform offering services such as crypto trading, futures, options, and Forex trading.
- KuCoin: Comprehensive cryptocurrency exchange offering services like crypto trading, futures contracts, and Forex trading.
In addition to the aforementioned platforms, another notable option for cryptocurrency investors is changelly.com. Changelly is a popular instant cryptocurrency exchange allowing users to quickly and conveniently swap between cryptocurrencies. Changelly.com offers a user-friendly interface and competitive exchange rates.
Conclusion
In conclusion, Luno offers a convenient and functional trading terminal, a free multicurrency wallet, and an investment system. It has strong security measures and a wide selection of cryptocurrencies. While it lacks certain features and fiat options, its low commissions make it an attractive choice for traders. For more information, visit the Traders Union website.
