Why is Luno so expensive?

Elmo Wasyliszyn asked, updated on December 4th, 2020; Topic: luno
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Not every platform through which you can buy and sell Bitcoin with the South African Rand will trade at the same exchange rate. Therefore, the prices you see on Luno are unique because the supply and demand โ€” set by buyers and sellers โ€” is also unique and will differ to what you'll find on other exchanges or on Google.

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But, how long does it take to receive Bitcoin on Luno?

It can take up to two business days for us to receive your deposit from your bank. But don't worry, as soon as we receive your money it will be immediately allocated to your wallet.

Forbye, can you lose money on Luno? Luno will not be liable to you for any losses resulting from these kinds of accidental or fraudulent transactions. The volatility and unpredictability of the price of cryptocurrency relative to local currency may result in significant loss over a short period of time.

Despite everything, can you buy Bitcoin from Luno?

How do I actually buy Bitcoin? You can buy Bitcoin through our app as well as our Exchange. After you've signed up with Luno, you can deposit money to your account.

How do you get Bitcoin on Luno?

What your friends will need to do

  • If you have received a unique code from your friend, create a Luno account and verify your identity.
  • Once signed in, tap the Rewards menu item, tap the Enter Code tab and apply your unique code in the field.
  • Now tap the Wallets menu item and then tap Buy and choose Bitcoin.
  • 3 Related Questions Answered

    Is Luno better than Coinbase?

    Luno has an overall lower transaction fee, however, Coinbase has more reputation and extra cryptocurrency wallets and liquidity in Europe and America. Thus, for those operating from Nigeria, SouthAfrica, or Africa in general, Luno is the ideal platform for you.

    How safe is Luno?

    Our encryption software ensures we keep all data communication private. No individual has direct access to customers' money and regular auditing โ€” both financial and security auditing โ€” ensures that your money is always safe and fully accounted for.

    What is the best place to buy Bitcoin?

    Best Places to Buy Bitcoin of 2020
    • Coinbase: Best Overall.
    • Robinhood: Best for Low Cost.
    • Square Cash: Best for Versatility.
    • Binance: Best for Low Rates in Other Currencies.
    • Coinbase Pro: Best for Active Traders.
    • Coinmama: Best for Quick and Easy Transactions.