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Luno Review: Pros, Cons, Fees, Features, and Safety

Luno is a bitcoin cryptocurrency exchange and a payment service provider with a market capitalization of $3.7 million. But is it a reliable platform? Read on to find out why we think there are better options out there than Luno.
Rating 3.5/5
We do not recommend this exchange. Read on to find out why we think there are better alternatives out there.

Luno Pros and Cons

Pros:

  • Regulated
  • Quick and easy way to trade bitcoin against fiat currencies
  • Easily convert between crypto and fiat currencies
  • Send crypto and fiat email payments for free
  • Businesses can accept and pay in crypto with a business account

Cons:

  • Only six cryptos available to trade (Bitcoin and Ethereum)
  • No margin lending or advanced tradings tools
  • Low liquidity
  • Not available in the United States.
  • Exchange trades not available in Europe

Luno is a bitcoin exchange and payment service operating in 40 countries across Europe and several developing and middle-income countries. With a zealous mission to educate the world about cryptocurrencies and how to trade them, Luno has been compared to the E*TRADE of the online trading revolution of the 1990s. We have conducted an in-depth review of fees, features, and pros and cons to evaluate the demand for Luno’s crypto trading and payments services.

While Luno is providing a valuable service by helping the world easily exchange and spend crypto in the mainstream economy, investors may prefer an exchange like eToro for U.S. customers and Plus500 for UK traders which offer multiple assets and where you can trade in real-time trading across multiple assets classes.

eToro - Our Recommended Crypto Platform

Our Rating

eToro exchange
  • ASIC, CySEC and FCA regulated - 20 Million Users Worldwide
  • Buy with Bank transfer, Credit card, Neteller, Paypal, Skrill, Sofort
  • Free Demo Account, Social Trading Community
  • Free Secure Wallet - Unlosable Private Key
  • Staking Rewards for holding ETH, ADA or TRX
  • Copytrade Winning Crypto Traders - 83.7% Average Yearly Profit
eToro exchange
68% of retail investor accounts lose money when trading CFDs with this provider.

What is Luno?

If you are looking for an exchange to buy cryptocurrency pairs across dozens of different cryptos, Luno is not the best option. What Luno does do it does very well. The exchange offers trading in bitcoin, ethereum, Ripple, Litecoin, Bitcoin Cash and USD coin, across fiat currencies.

The Luno wallet and payment app make it easier than ever to send, receive and spend your crypto and fiat. Education is provided through the Luno Learning Portal and blog for the beginner bitcoin trader.

Luno makes using crypto in the real world easy. You can convert your crypto into your local currency at any time and spend it. Some exchanges offering over 100 crypto pairs to trade, on the other hand, do not offer any on-exchange option to convert to fiat.

Instead, you have to withdraw your funds to your own digital wallet and find your own crypto-to-fiat solution. Large crypto-to-crypto exchanges like Kraken and Binance come to mind. Luno is for the trader who foregoes purchasing a Ferrari to drive in a low speed limit zone when a Toyota will do. The alternative does the job and is cheaper and more efficient. Luno’s market capitalization is $3.7 million.

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for $1000 you get0.0495 BTC
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for $1000 you get0.0495 BTC
68% of retail CFD accounts lose money.
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68% of retail CFD accounts lose money.
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74% of retail investor accounts lose money when trading CFDs with this provider.
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The price and value of any investment in digital asset products can fluctuate.
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The traded price of digital tokens can fluctuate greatly within a short period of time.
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Market prices for digital tokens can be volatile and highly unpredictable.
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As with any asset, the values of digital currencies may fluctuate significantly.
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The value of digital currencies can go up or down frequently.
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71% of retail CFD accounts lose money.
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As prices of digital assets are highly volatile, users could lose all or a substantial portion of the value of any digital asset they purchase.
Rating
5.0
4.7
4.7
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4.5
4.4
4.3
4.1
4.0
Mobile App Rating
10/10
9/10
9/10
8/10
8/10
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9/10
9/10
10/10
Mobile App
Wallet
Number of Coins
14059223413535915115
Trading Fees
SpreadsSpreads0.1%0.1%0.1%0.1%0.50%Spreads0.2%
Deposit Fees
N/AN/AN/AN/AN/AN/AN/AN/AN/A
Withdrawal Fees
$5N/A0.0005 BTCN/AN/AN/AN/AN/AN/A
Regulated
ASIC, CySEC, FCACySECN/AN/AN/AFCAFCACBI, MiFIDN/A
Min. Deposit
$50100 EURN/AN/A$10$10$2$100N/A
Leveraged Trading
N/AN/A1 - 100x1 - 100x1 - 10x1 - 100xN/A1 - 30x1-200x
Bitcoin
$20196.41$20275.17$20209.54$40391.88$40393.04$40404.41$40416.27$20265.07$40377.55
Ethereum
$1136.99$1123.60$1116.63$2796.11$2795.55$2797.45$2796.59$1119.70$2795.54
XRP
$0.34$0.33N/A$0.23N/A$0.78$0.30$0.34$0.78
Tether
$1.00N/A$1.00$1.00N/AN/A$1.00N/AN/A
Litecoin
$54.84$54.09N/A$109.04N/A$109.10$109.04$54.14$108.99
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$108.83$108.19N/A$506.41N/A$295.12$295.07$108.13$294.96
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$6.44$6.39N/A$14.26N/A$14.68$14.67$6.47$14.68
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$0.48$0.48N/A$0.83N/A$0.83$0.83N/A$0.83
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$0.29$0.28$0.27N/A$0.70$1.91$1.91$0.28$0.70
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$225.97$220.79$220.74N/AN/A$385.92N/AN/AN/A
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$0.11$0.11N/A$0.19$0.08$0.19