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.

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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.