LUNO - luno.com REVIEW, TRADING VOLUME AND PAIRS
Although LUNO is a small cryptocurrency exchange, it is quite ambitious. It has offline offices in Cape Town, London, and Singapore. The company's mission is to change the international financial system through the introduction of Bitcoin into mass circulation. According to coinmarketcap.com, the daily trading volume, at the time of writing, is just over $1 million. This is not much, but it is enough to provide sound liquidity.
Among crypto-assets, you can find only Bitcoin, Ethereum, and Bitcoin Cash. There are only 5 confirmed trading pairs, all tied to fiat currencies – the Euro, the South African Rand, the Nigerian Naira, the Indonesian Rupiah, and the Malaysian Ringgit. At the same time, you can replenish your account both through the SEPA system and through bank transfers and electronic payment systems. Interbank settlement is also provided.
Exchange is available in the web version and as a mobile application. The interface includes the following elements:
• Overview of the exchange and transactions;
• Personal trading cabinet;
• Settings menu;
• Deposit management menu;
• Analytics tools;
• Funds deposit/withdrawal.
The platform is perfect for new traders because the interface is quite convenient and minimalistic, and the functionality is very informative and useful for the user.
According to the developers, the official website of luno.com is well protected. The main advantage is that the money is stored on the cold accounts, which prevents intruders from accessing your data. We should also mention the mobile wallet, which works on multi-signature technology. Some funds are stored on hot wallets under the control of BitGo. The system provides two-factor authentication, which is an additional "gateway" of customer funds' protection.
To start trading, you need to go through the registration procedure. To do this, click on the SIGN UP button and fill in the registration form, specifying your e-mail, full name, and place of residence. And then generate a complex password. You can also register an account through Google or Facebook. When you confirm the registration by clicking on the link sent to the email address, you can already start trading.
Before starting to trade on luno.com, any crypto-investor should first choose the market. As we said above, here are only a few of the coins and currency pairs that are all tied to the fiat currencies. It should be noted that LUNO provides a wide range of tools for market analysis, which allows you to make informed decisions about buying or selling currency. In this sense, the platform meets the minimum requirements of an experienced investor.
If you are a resident of one of the countries whose national currencies are available on the exchange, it is quite reasonable. Besides, the platform sets moderate commissions for transactions. But in all other respects, we would not recommend working on the exchange since there are a lot of other projects offering a much more serious choice of digital assets to buy.