Cryptocurrency exchange
I use Luno for trading altcoins alongside the majors. Their coin selection is extensive and they're usually quick to list trending tokens. The staking rewards program is a nice passive income feature. Trading fees are reasonable and decrease with volume. Good exchange overall.
Pros: Wide coin selection, staking rewards, volume discounts
Cons: App can be slow during high-traffic periods
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
I've been buying and selling crypto through Luno for over two years now. The security is excellent - two-factor authentication, cold storage for majority of assets, and instant notifications for any account activity. The interface makes it easy to trade and track my portfolio. Very satisfied.
Pros: Top-notch security, user-friendly interface, good notifications
Cons: Fees slightly higher than some alternatives
For serious crypto traders, Luno is hard to beat. Advanced order types, deep liquidity, margin trading, and excellent API for algorithmic trading. Their fee tiers are competitive and the platform has never gone down on me during volatile periods. This is what professional crypto trading looks like.
Pros: Advanced features, deep liquidity, reliable uptime
Cons: Complex for casual users
What sets Luno apart for me is the regulatory compliance. In a space full of questionable operations, they've obtained proper licenses and maintain high standards. Proof of reserves is published regularly. Trading is smooth and withdrawals to my cold wallet have always been fast.
Pros: Regulated, proof of reserves, fast withdrawals
Cons: Sometimes new coins are listed later than competitors