Cryptocurrency exchange
I've been using Luno for about a year. It works well for basic buying and selling. The app is clean and easy to navigate. My main complaint is the fee structure - the spread on buy/sell is quite wide and there are additional fees on deposits. For frequent traders, costs add up.
Pros: Clean app, easy to use
Cons: High fees, wide spread on trades
Had a reasonable experience with Luno for months until my account was suddenly restricted without clear explanation. It took three weeks and dozens of support tickets to get it resolved. Apparently it was a routine compliance check but the lack of communication was unacceptable. My funds were inaccessible during this time.
Pros: Works fine when your account is active
Cons: Random account freezes, terrible communication during issues
If you're just looking to buy and hold crypto long-term, Luno is fine. The security gives me peace of mind. But for active trading, the interface isn't great - limited order types, basic charting, and higher fees compared to dedicated trading platforms. Use it for what it's good at.
Pros: Good security for long-term holding
Cons: Not suitable for active trading, limited tools