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✅LEGIT Luno.com Reviews: SCAM or LEGIT?

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nyc3650

nyc3650

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Luno.com Review.jpg

Luno is a secure cryptocurrency wallet and exchange that makes it easy to buy, sell, store and trade cryptocurrencies like Bitcoin and Ethereum. It is a beginner friendly wallet/exchange that support buying/selling of BTC and ETH directly with your Bank Account.

Currently, Luno provides support to over 40 countries across Europe and Africa. You can check the list of supported countries here: luno.com/en/countries

Pros:
1. Beginner Friendly: You basically don't need to learn how to trade cryptocurrencies to buy and sell BTC/ETH.
2. Work With Your Local Currency: Buying and selling of BTC/ETH are handled according to it current value in your local currency.
3. Low Minimum Purchase: This varies depending on your country but generally after funding your Luno local currency wallet, you can purchase bitcoin or ethereum worth < $1.
4. Fast Bank Transfer: Bank transfer is really swift, i once requested a bank transfer of my fund in my luno local currency wallet and i was told payment will be processed maximum of 3 days, surprisingly enough, I got paid the following day.
5. Reasonable Fee: Service fee of Luno is pretty reasonable compared to what some none beginner friendly exchanges offer
6. Nice Interface: Luno mobile wallet interface is very clean, intuitive and usable even for a beginner.
7. Great Support: Support normally take few hours to respond to a ticket as long as it not on a weekend.

Cons:
1. Limited Cryptocurrency Support: Currently only BTC and ETH can be sold/bought/traded using Luno, they were plans to add LTC in the past but for reasons unknown to me it was dropped.
2 Limited Number Wallet Address: You are limited to the creation of 5 wallet addresses altogether (BTC & ETH)
3. Ethereum Smart Contract Issue: Your ETH addresses are built with smart contract, so whenever you receive payment in any of your eth address, it gets transferred to a wallet with information associated with your luno account. So generally you can have multiple ETH Addresses that fund your Luno eth wallet. This is good but can really be an Issue with exchanges that doesn't support sending eth to wallet with smart contract and might result in a failed transaction.

Luno also has a referral system in which if someone signup using your referral link, after the person makes certain amount of deposit both of you will get paid bonuses in your local currency.
Luno is a wallet i use and highly recommend especially if coinbase is not supported in your country, i generally see Luno as the Coinbase of Africa.
 
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Luno is definitely legit and perfect for any South African users.

This is my proof of payment from yesterday and the funds should reflect shortly in my local bank account.

First I deposited some BTC from faucets which I have set up to earn passive income through the referral system (affiliate program). In other words I don't work anymore to earn this money, that's why it is such a low amount.

Luno BTC Received 19th Feb 2018.PNG


Then I transferred this amount to my local bank account and it should reflect later today in my bank account in ZAR (Rand).

Luno Local Bank Transfer Received 19th Feb 2018.PNG


You can JOIN LUNO for free and turn BTC to cash in your local bank account. That is IF your country is legible for this service.

Luno also offers an affiliate program and when people use your promotional code to signup and purchase R500 ($42.60) worth of Bitcoin then you will receive R10 ($0.85) worth of Bitcoin for free.
 
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Good one but I don' know if it is worth joining because i belong to india and need to check out if it works in my country too. Thanks for sharing.
 
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I'm going to have check and see if I can use this service from my country. I have all this bitcoin I would like to exchange to my local currency. Thanks for this.
 
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M.Shafeeq said:
Good one but I don' know if it is worth joining because i belong to india and need to check out if it works in my country too. Thanks for sharing.
Click to expand...
I'm not 100% sure if India is legible but here is a list of countries they do accept - https://www.luno.com/en/countries
Hope this helps other readers as well.
 
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TitusRangga said:
@Kambas i has started the Luno, but still confused bout how it work when do exchange. can u teach me so i can more understanding about Luno and Bitcoin.
Click to expand...
Hi
Not to sure how I can help?
Luno is simply a wallet for BTC and ETH there is no exchange but you can buy or sell your coins.

If you have any specific questions let me know.
 
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ThIs wallet is very friendly to Nigerians cos you exchange your bitcoin directly to Naira and the bank account will be credited on matter of minutes, it has been a reliable exchanger /wallet mostly friendly to African countries
 
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Kambas said:
Hi
Not to sure how I can help?
Luno is simply a wallet for BTC and ETH there is no exchange but you can buy or sell your coins.

If you have any specific questions let me know.
Click to expand...
so how u get more bitcoin or etherum. it is just feom buy or sell coins??

Kambas said:
Hi
Not to sure how I can help?
Luno is simply a wallet for BTC and ETH there is no exchange but you can buy or sell your coins.

If you have any specific questions let me know.
Click to expand...

so how u get more bitcoin or etherum. it is just from buy or sell coins??
 
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Kambas said:
Luno is definitely legit and perfect for any South African users.

This is my proof of payment from yesterday and the funds should reflect shortly in my local bank account.

First I deposited some BTC from faucets which I have set up to earn passive income through the referral system (affiliate program). In other words I don't work anymore to earn this money, that's why it is such a low amount.

View attachment 9327

Then I transferred this amount to my local bank account and it should reflect later today in my bank account in ZAR (Rand).

View attachment 9328

You can JOIN LUNO for free and turn BTC to cash in your local bank account. That is IF your country is legible for this service.

Luno also offers an affiliate program and when people use your promotional code to signup and purchase R500 ($42.60) worth of Bitcoin then you will receive R10 ($0.85) worth of Bitcoin for free.
Click to expand...

Good to know it works well for you and you have successfully converted BTC to your local bank account.

I am from Malaysia and I read that Luno allows us to convert BTC to our local bank account too, but I haven't do that yet as I don't have much bitcoin yet, and the fee is quite high, right? I'll need to accumulate more bitcoin, then I'll try it out. I am happy to see you have done so. :D
 
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TitusRangga said:
so how u get more bitcoin or etherum. it is just from buy or sell coins??
Click to expand...
@TitusRangga
There are many ways to obtain Bitcoin without having to buy it but I cannot explain everything here, that's why I have a website :)
Faucets are the most common way to get free coins without much effort, all you need is a wallet address and you can claim away.

kaka135 said:
Good to know it works well for you and you have successfully converted BTC to your local bank account.
@kaka135
I am from Malaysia and I read that Luno allows us to convert BTC to our local bank account too, but I haven't do that yet as I don't have much bitcoin yet, and the fee is quite high, right? I'll need to accumulate more bitcoin, then I'll try it out. I am happy to see you have done so. :D
Click to expand...
The fee is not really that much, for my last withdraw I paid about R8 to send R400 to my bank account so it's quite a small percentage.
 
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I earlier heard that Luno is available only for some countries and glad to see that now most of the countries from Asia can participate and earn from it and it's surely legit and working for most of the users.
 
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When sending bitcoin to local bank, the percentage is very small most time it depends on the network loads. @ THESUPERSINCH which can way can we earn from luno Wallet aside using it as wallet
 
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De-rector said:
When sending bitcoin to local bank, the percentage is very small most time it depends on the network loads. @ THESUPERSINCH which can way can we earn from luno Wallet aside using it as wallet
Click to expand...
Through the referral program.
 
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Bitcoin is the best eccurency that anybody can deal with but the real thing is that sometime the price of the market make it to be fluctuating.
Trading on this currency can be profitable but you need adequate knowledge and skills to balance your self against the market trend
 
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Humbu said:
This is where I started learning about crypto currencies. User friendly and 100% legit, Im also from South Africa and it comes highly recommended here. I have been with luno for almost 2 years now and I'm still happy with them, their app is the best.
Click to expand...
That is nice, I have also heard good reviews about it here. Please are you able to withdraw from the wallet to your local currency? Did it demanded for your bank verification number while you sign up?
 
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I downloaded the wallet filled all the necessary details but got stalk when it demanded for my bank verification number, I was not convinced to give it out because of the series of scam issues related to bank verification number as caused in my country but with this your review I will give a trier.
 
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Oh, I thought that this wallet works worldwide but unfortunately it doesn't, I wanted to withdraw my bitcoins but morocco isn't from the countries supported by this wallet. Do you have other alternatives?
 
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Aside luno wallet I doubt if there is any crypto currency wallet that support direct withdrawals in Africa countries except you have skrill account which you can swap your coins for dollar then you withdraw to local bank.
 
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