People buy Bitcoin and Ethereum for various purposes especially exchange of funds and for the use of recreational purposes like playing games etc. (there are some other uses as well which are not mentionable in public domains though). Luno is one of the popular wallets which allow people a safe trading, easy buying, and store Bitcoin and Ethereum from all countries of the world in a safe environment.
People use Luno Wallet to store, exchange and for investment purpose since the rate of virtual currencies are too volatile therefore short term trading might bring good results at a very reasonable fee.
Joining the Luno Wallet is a simple process with confirming your email and phone and country of residence. The transaction value depends on your level which is determined by the residency of a member.
Beside Luno Wallet permits transaction in different methods according to the rule of the land. For instance Europe enjoys the exchange benefit by SEPA that allows all 36 countries consisting of 28 of the European Union including 19 states in the Euro-zone.
Fees structure is easy to understand with no maker fee but exchange ranges in between 0.20% to 1% each transaction. Supported currencies are Bitcoin and Ethereum, (Ethereum attracts no receiving charges either by email or wallet address). The withdrawal methods include Bank Transfer, EFT and SEPA Transfer, (For European Union countries).
Luno provides a very good transaction with the help of few clicks through their App so it makes Luno even more useful for their customers to use the service on the move. However, the method of deposit and withdrawal is most favorable to certain countries especially the European Union while some countries have restricted methods therefore it’s advised to check your options.
As per the Luno Fees structure is different for different countries and transactions are according to customers’ verification level in the category of basic, Level-1, Level-2 and Level-3 with different credential required for verification of Identity that allows them transactions in the different range, therefore read the Account Level section.
My verdict- Luno Wallet is perhaps best in the transaction and exchange benefits but they need to improve their customer support service to make it even more attractive. The Wallet has no direct support/customer service that connects customers with this platform so that is a matter of concern.
Please also note that some countries have no exchange facility available therefore advised to check it before joining Luno.