When you’re new to cryptocurrency and live in Nigeria, South Africa, or Malaysia, finding a crypto exchange that actually works for you isn’t easy. Most platforms feel like they were built for traders in New York or London - too complex, too expensive, or outright blocked by local banks. That’s where Luno comes in. It’s not the biggest exchange. It doesn’t offer hundreds of coins or futures trading. But if you’re trying to buy your first Bitcoin without getting lost in a maze of options, Luno might be the only platform that actually makes sense.
What Luno Actually Does
Luno isn’t trying to be Binance or Coinbase. It doesn’t compete on volume, speed, or advanced tools. Instead, it focuses on one thing: helping people in emerging markets buy and hold crypto safely. Founded in 2013, it’s been around long enough to build trust where others failed. In South Africa, it handles 87% of all crypto trading volume. In Nigeria, before the central bank ban, it was the go-to app for millions. Today, it serves over 12 million users across 10 regulated countries. Its core strength? Simplicity. You don’t need to understand order books, limit orders, or candlestick charts. You open the app, tap "Buy Bitcoin," enter how much you want to spend in your local currency, and confirm. Done. The money comes out of your bank account. The Bitcoin shows up in your wallet. No middlemen. No confusing steps.Supported Cryptocurrencies
Luno supports five major coins: Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), and Bitcoin Cash (BCH). That’s it. No Dogecoin. No Solana. No Shiba Inu. No altcoins with 10,000% pumps. Some users complain about this. And they’re right - if you want to trade meme coins or stake new tokens, Luno won’t help. But for someone just starting out, this limited selection is actually a feature. It removes the noise. You’re not tempted to chase hype. You learn what Bitcoin and Ethereum are before diving into the rest. In Q3 2024, Luno added Bitcoin Cash. That was its first new coin in over a year. Competitors added 15+ in the same period. Luno’s team admits they’re slow to expand. But their focus isn’t on listing coins - it’s on making the ones they offer easy to use.Fees: Transparent, But Not Cheap
Luno’s fees are where most users get surprised. There are two types:- Instant buy/sell: 1.5% to 3.5%, depending on your country. In South Africa, it’s usually 1.5%. In Nigeria, it’s closer to 3.5%.
- Exchange trading: 0.1% for makers, 0.2% for takers. This applies if you use the trading interface instead of instant buy.
Security: Built for Beginners
Luno’s security setup is one of its best features. 95% of customer funds are stored in cold wallets - offline, locked away, and protected by multi-signature keys. Luno holds one key. BitGo, a trusted third-party custodian, holds the other. You need both to move money. That’s stronger than most exchanges. All accounts require two-factor authentication (2FA). You can use SMS or an authenticator app like Google Authenticator. Mobile apps also support fingerprint or face unlock. No one’s getting into your account without your phone and your PIN. In a 2025 survey by the University of Cape Town, 78% of first-time crypto users in Sub-Saharan Africa chose Luno because they trusted it more than any other platform. That trust isn’t accidental. It’s built into the design.
App and Interface: No Learning Curve
The Luno app (iOS and Android) is clean, slow to change, and easy to use. It’s not flashy. It doesn’t have charts that look like stock market tickers. It has a big "Buy" button. A balance display. A history log. That’s it. New users complete their first transaction in under 24 hours - 82% of them, according to Luno’s own data. That’s faster than any other major exchange. But there are quirks. You can’t sell your entire wallet in one click. You have to type in the exact amount you want to sell. If you have 0.3472 BTC and want to sell it all, you need to manually enter that number. No "Sell All" button. That’s frustrating for users who’ve used other platforms. The web interface is just as simple. No advanced order types. No stop-losses. No margin trading. If you want to trade like a pro, you’ll need another platform. But if you just want to buy Bitcoin and forget about it? Luno does that better than anyone else in its markets.Customer Support and Learning Tools
Luno offers 24/7 chat support. Response times average 18 minutes, which is fast for crypto. Email support takes 24 to 48 hours - slower, but still better than most. They also have a full learning center: 47 video tutorials, 23 written guides, and a free "Crypto 101" course. It covers blockchain basics, how wallets work, and why Bitcoin is different from bank money. 42% of new users finish the course. That’s unusually high for a crypto platform. In Nigeria, after the 2022 central bank ban, users lost the ability to withdraw to local banks. Many left. But Luno didn’t vanish. They kept the app alive. They still let users hold crypto. They just couldn’t move money in or out. Now, they’ve promised a peer-to-peer marketplace for Nigeria by Q3 2025. If they deliver, it could bring millions back.Who Is Luno For? Who Should Avoid It?
Luno is perfect for:- First-time crypto buyers in Africa or Southeast Asia
- People who want to buy Bitcoin with their local bank account
- Those who value safety over speed or features
- Users who don’t want to deal with complex trading tools
- Traders who want to use stop-losses, futures, or leverage
- People who want to trade hundreds of altcoins
- Users in the U.S., Canada, or Europe - Luno doesn’t serve them
- Anyone who needs fast, cheap withdrawals to external wallets
How Luno Compares to the Competition
| Feature | Luno | Binance | Coinbase | |--------|------|---------|----------| | Available in 10+ countries | Yes | No (only 6 fully licensed) | No (limited in Africa) | | Instant buy with local bank | Yes | No (P2P only in some regions) | Yes (in U.S., Europe) | | Crypto selection | 5 coins | 500+ | 200+ | | Trading fees (maker/taker) | 0.1% / 0.2% | 0.1% / 0.1% | 0.5% / 0.5% | | Instant buy fee | 1.5%-3.5% | Not offered | 1.49%-3.99% | | Mobile app rating | 4.7/5 | 4.5/5 | 4.6/5 | | Beginner-friendly | Excellent | Poor | Good | | Regulatory compliance | High | Medium | High | Luno doesn’t beat Binance on features. It beats it on accessibility. In Nigeria, Binance is blocked. In South Africa, Binance doesn’t offer local bank deposits. Luno does.The Future of Luno
Luno is betting on one thing: financial inclusion. In 2025, Africa has the highest rate of crypto adoption per capita in the world. South Africa ranks fifth globally. Luno is positioned as the default platform for millions of people who don’t have access to traditional banking. They’ve started adding new features slowly: recurring purchases (buy $1 of Bitcoin every week), and even U.S. stock trading in select markets. But their growth is tied to regulation. If Nigeria’s ban is lifted, Luno could explode. If they fail to add more coins or a P2P system, they’ll get left behind. Fidelity Investments rates Luno highly for compliance but gives it a medium risk for technological stagnation. That’s fair. Luno isn’t innovating fast. But it doesn’t need to. It’s not here to win the crypto race. It’s here to help people who’ve been left out of it.Final Verdict
Luno isn’t the best crypto exchange overall. It’s not even the cheapest. But if you live in South Africa, Nigeria, Malaysia, or Indonesia - and you’re just starting out - it’s the best choice you have. It’s safe. It’s simple. It works with your local bank. And it doesn’t overwhelm you with options you don’t need. For 12 million people, that’s enough. If you’re ready to buy your first Bitcoin without reading a 50-page guide, open the Luno app. Tap Buy. Enter your amount. Confirm. You’ll be holding crypto in under five minutes.Is Luno safe to use?
Yes, Luno is one of the safest crypto platforms for beginners. It stores 95% of customer funds in cold storage with multi-signature security, requires mandatory two-factor authentication, and is fully regulated in 10 countries. It’s trusted by over 12 million users, especially in regions where financial scams are common.
Can I trade altcoins on Luno?
No. Luno only supports five cryptocurrencies: Bitcoin, Ethereum, Litecoin, Ripple, and Bitcoin Cash. It doesn’t offer Dogecoin, Solana, Cardano, or any other altcoins. This is intentional - it keeps the platform simple for new users who don’t need dozens of options.
What are Luno’s fees for buying Bitcoin?
Luno charges 1.5% to 3.5% for instant Bitcoin purchases, depending on your country. In South Africa, it’s typically 1.5%. In Nigeria, it’s closer to 3.5%. If you use the trading interface instead, fees drop to 0.1% for makers and 0.2% for takers.
Can I withdraw Bitcoin from Luno to another wallet?
Yes, you can withdraw Bitcoin to any external wallet. But the fee is high - around 0.0005 BTC (about $30 at current prices). This is higher than Binance or Coinbase, but common in regions with strict banking rules. Always check the fee before sending.
Is Luno available in the United States?
No, Luno is not available in the United States, Canada, the UK, or most of Europe. It only operates in 10 countries, mostly in Africa and Southeast Asia - including South Africa, Nigeria, Malaysia, Indonesia, and Singapore.
Does Luno offer staking or earning interest on crypto?
No, Luno does not offer staking, yield farming, or interest accounts. It’s designed as a simple buy-and-hold platform. If you want to earn interest on your crypto, you’ll need to use another service like Coinbase or Binance.
How long does verification take on Luno?
Verification usually takes 12 to 48 hours, depending on your country and the documents you submit. Tier 1 (email and phone) is instant. Tier 2 (ID document) takes up to 2 days. Tier 3 (proof of address) may take longer. Once verified, you can increase your weekly limits from $500 to $50,000.
Can I use Luno without a bank account?
No. Luno requires a local bank account to deposit or withdraw fiat currency. You can still hold crypto on the platform without a bank, but you won’t be able to buy or sell unless you link a supported bank.
Monty Burn
December 31, 2025 AT 09:01Luno isn't about making you rich overnight
It's about giving people who've been locked out of the system a way to hold something real
Most exchanges treat users like data points
Luno treats them like humans
That's rare
And honestly
That's enough
Kenneth Mclaren
December 31, 2025 AT 22:2395% cold storage? Yeah right
They're just hiding it in a server farm owned by the same bank that banned crypto in Nigeria
Who do you think controls BitGo?
Big Finance
They let Luno exist so they can monitor the masses
And when the crackdown comes
You'll be the one holding worthless tokens while they cash out
Wake up
This isn't freedom
It's surveillance with a friendly app
Jack and Christine Smith
January 2, 2026 AT 05:30okay so i just bought my first btc on luno last week and OMG
i was so scared i'd mess it up but it literally took 3 mins
my cousin in lagos did the same thing yesterday
we both cried a little
not from joy
from relief
finally something that doesnt feel like a scam
and no i dont care that it doesnt have dogecoin
i just want to not get robbed
Jackson Storm
January 3, 2026 AT 23:52For new users in emerging markets, Luno is basically the crypto equivalent of a bicycle
You don't need a Ferrari to get from point A to point B
Especially when the roads are bad
And the cops are corrupt
That's why it works
It's not about being the best
It's about being the only one that doesn't break down
Also
That 1.5% fee in SA? That's less than the bank charges you just to send money to your cousin
So really
You're getting a better deal
Raja Oleholeh
January 5, 2026 AT 22:06Prateek Chitransh
January 6, 2026 AT 10:05Oh look
A platform that doesn't try to turn crypto into a casino
How quaint
Imagine that
People just wanting to own a piece of the future without being sold a pyramid scheme
Maybe we should all be so lucky to live in a world where simplicity is valued
Instead of being told we need 500 coins and leverage to be 'serious'
Just saying
christopher charles
January 6, 2026 AT 17:19Can I just say how refreshing it is that Luno doesn't have a million confusing buttons?
Most apps feel like they're trying to trick you into trading like a hedge fund
Luno just says: Buy Bitcoin. Hold it. Don't panic.
And for once
That's enough.
Also
Their customer support actually answered me in under 20 minutes.
That's more than I can say for my bank.
Thank you, Luno.
You're not perfect.
But you're honest.
Vernon Hughes
January 7, 2026 AT 08:30Simple works
Complex fails
History proves it
Bitcoin was meant to be accessible
Not a derivatives playground
People in Africa and SE Asia don't need more options
They need trust
Luno delivers that
End of story
Alison Hall
January 8, 2026 AT 08:56I bought my first 0.001 BTC on Luno last month
My mom thought I was crazy
Now she asks me how to set it up for her pension
That's the real win
Not the price chart
It's the quiet revolution
One person at a time
Amy Garrett
January 10, 2026 AT 05:00so i tried binance first
got so confused i deleted it
then i tried luno
tap buy
done
my first btc is sitting there like a little digital rock
and i feel smart
not scared
and thats worth more than any altcoin pump
Haritha Kusal
January 10, 2026 AT 07:41i live in kerala and i was scared to start
but luno made it so easy
no one in my family understands crypto
but they all know i have bitcoin now
and they trust me
thats more than any app can give you
thank you luno
you made me feel safe
Mike Reynolds
January 12, 2026 AT 07:36I used to think crypto was just for tech bros
Then I saw my neighbor in Lagos use Luno to send money to his sister
No Western Union fees
No 3-day wait
Just a tap
And it was done
That's not finance
That's dignity
And Luno gave it to them
Without fanfare
Without hype
Just quietly changing lives
dayna prest
January 13, 2026 AT 14:45Luno is the crypto equivalent of a flip phone
It works
It's reliable
And it makes you feel like a Luddite
Meanwhile
Everyone else is flying in supersonic jets
But hey
If you like being told what to do and having your options limited
Then congrats
You've found your spiritual home
Brooklyn Servin
January 15, 2026 AT 06:03Y'all are missing the point
Luno isn't trying to be the future
It's trying to be the bridge
For people who've been told they don't belong in finance
That's why the fees are high
Because they're paying for compliance
For security
For legal teams in 10 countries
Not for flashy charts
And yes
It's slow
But slow is safe
And safe is what people in Nigeria and South Africa need right now
Stop judging it by Binance's standards
It's not competing with them
It's healing the damage they ignore
Ian Koerich Maciel
January 15, 2026 AT 21:13It is my firm belief that Luno represents a paradigmatic shift in the democratization of financial access within the Global South.
Its architectural design, predicated upon regulatory adherence and user-centric simplicity, constitutes a radical departure from the speculative excesses of mainstream exchanges.
One must consider, however, the inherent limitations of its technological infrastructure-particularly its lack of staking mechanisms and its constrained asset portfolio-as potential impediments to long-term scalability.
Nevertheless, the ethical imperative of financial inclusion outweighs the aesthetic appeal of market innovation.
Thus, while Luno may appear anachronistic to the crypto-elite,
it remains, in fact, the most morally defensible platform currently in operation.
End of discussion.
Andy Reynolds
January 16, 2026 AT 05:54Remember when people used to say 'the best technology is invisible'?
Luno is that.
You don't notice the blockchain.
You don't care about order books.
You just see your money turn into Bitcoin.
And that's beautiful.
It's not flashy.
It's not loud.
But it works.
And sometimes
That's all you need
Ryan Husain
January 16, 2026 AT 08:03While Luno's model is commendable for its focus on accessibility and regulatory compliance, it is critical to acknowledge that its technological stagnation may inadvertently entrench financial dependency on centralized intermediaries.
True decentralization requires not just ease of use, but also autonomy over custody and liquidity.
Luno's custodial model, while secure, is antithetical to the foundational ethos of cryptocurrency.
Therefore, while it serves as an excellent gateway,
it must not be mistaken for the end goal.
Progress must continue.
Rajappa Manohar
January 17, 2026 AT 05:01Abhisekh Chakraborty
January 17, 2026 AT 05:05They're not helping people
They're harvesting data
And when the government comes knocking
They'll hand over every transaction
And you'll be left with nothing
But a warm feeling that you 'trusted' the wrong people
Wake up
They're not your friends
They're middlemen with a cute app
Josh Seeto
January 17, 2026 AT 06:27So let me get this straight
You're praising a platform that charges 3.5% to buy Bitcoin
And doesn't even let you sell your entire balance in one click?
That's not user-friendly
That's lazy design
And calling it 'simple' is just code for 'they didn't bother to fix it'
There's a difference between simple and broken
And Luno is walking that line like a drunk tightrope walker
rachael deal
January 17, 2026 AT 17:43I used to think crypto was too complicated for me
Then I saw my aunt in Nigeria use Luno to send money to her kids
She didn't know what a blockchain was
But she knew she could send help
And that's all that mattered
Thank you, Luno
You made my family feel less alone
Elisabeth Rigo Andrews
January 19, 2026 AT 14:23Luno is the corporate facade of financial colonialism
They market themselves as saviors
But they're just gatekeepers with better branding
They don't want you to be free
They want you to be dependent
On their platform
On their fees
On their slow withdrawals
And when they finally add P2P in Nigeria?
They'll charge you 5%
And call it 'innovation'
They're not building inclusion
They're building a walled garden
And you're the gardener
Adam Hull
January 21, 2026 AT 12:40Oh look
Another 'beginner-friendly' platform that's just a glorified ATM for Bitcoin
With no real utility
No yield
No innovation
Just a 3.5% fee and a pat on the head
It's like giving a child a toy car and calling it a Tesla
It moves
But it's not transportation
It's a placebo
And the people who love it?
They're the ones who've been told they're not smart enough for the real game
And now they're proud of their plastic car
Pathetic
Mandy McDonald Hodge
January 22, 2026 AT 07:35i just want to say thank you to luno
my dad lost his job last year
we couldn't send money to my grandma in lagos
then i found luno
we sent 50k naira
she got it in 10 mins
she cried
i cried
and i finally felt like i could help
you don't need 500 coins to change a life
you just need one
thank you
Andrew Prince
January 22, 2026 AT 09:10It is my professional assessment that Luno's business model is predicated upon a fundamental misunderstanding of the decentralized ethos underpinning cryptocurrency.
By maintaining custodial control over 95% of user assets, Luno effectively replicates the very centralized banking structures it purports to dismantle.
Furthermore, its fee structure, while marginally lower than Coinbase, remains exorbitant relative to the cost of blockchain transaction validation.
Its limited asset selection constitutes not 'simplicity' but intellectual laziness.
Its lack of staking, yield, or advanced features is not a virtue-it is a strategic abdication.
One cannot build a financial revolution by offering a vending machine.
One must build a system.
Luno is not a system.
Luno is a crutch.
And crutches are for temporary use.
Not permanent residence.
Monty Burn
January 23, 2026 AT 10:04You don't need to trade 500 coins to be part of the future
Some people just need to hold one
And not get ripped off
And that's okay
It's more than okay
It's revolutionary