• Average rating of 82% based on 107,799 reviews.
• Founded 10 years ago in 2012.
• Headquartered in the United Kingdom.
• Bitcoin (BTC) savings rates up to 1.5% APR.
Luno is a cryptocurrency platform that offers savings accounts, loans, and some exchange services. Luno offers savings rates up to 7.6% APR on deposits, with no hidden fees and instant access to your funds.
The platform was launched in 2013 by Marcus Swanepoel. The company was founded as BitX aiming to help adoption of Bitcoin in emerging markets and later changed its name to Luno which means moon in Esperanto. Luno become a part of the parent company Digital Currency Group company when acquired in 2020. The company is managing $21B USD with its over 8 million users from more than 40+ countries. The company has 2.1M users in South Africa alone. The company is headquartered in London, United Kingdom, and focuses on developing countries including South Africa, Nigeria, Indonesia, Malaysia, and Zambia. The company has raised almost $14M USD in fundings.
Luno is a good start for beginners. The platform is beginner friendly, easy to use, and has simple tools to use. Luno offers both web app and mobile app where you have a wallet that you can use to earn interest from your funds. Deposited funds start earning interest right away. You can also manage your wallet on the web platform. Both apps are fairly easy to navigate and simple to use. Luno wallets support BTC, ETH, XRP, LTC, BCH, and USDC only. Luno doesn’t accept fiat currencies. You can deposit crypto currencies from other platforms.
Luno doesn’t provide loans for individuals. Loans are issued only for institutional customers.
Luno has excellent reviews overall. People love its easy to use interface, a simple concept, and lack of any hidden fees. Both the Luno iPhone App and Android App have very good reviews. The platform supports only a few major crypto currencies. The company’s policy is being simple and easy to use to make sure beginner crypto investors don’t get confused. The company's main targeted markets are developing countries' emerging markets. Luno is pioneer crypto finance company with dedication to Bitcoin adoption. If you are looking for expert level, experienced trader tools, Luno is not for you. Giving out loans to institutional borrowers only makes the company safer against default risks.
Luno has a big impact on Bitcoin adoption in some developing countries. The company focuses on emerging markets. Users are required to save their phone numbers to be able to deposit funds. Luno is not available worldwide. They operate only in 40+ countries.
Users are generally satisfied with their experience using Luno platforms. Most reviews are positive. Customer service is fast and helpful.
Based on a total of 107,799 reviews across the web for Luno we gave the platform an overall rating of 82%.
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Luno offers savings accounts in major cryptocurrencies and stable coins with interest rate up to 7.6% APY in crypto. Interest rates vary as market conditions change. The platform supports BTC, ETH, XRP, LTC, BCH and USDC only. Interests are accrues daily and paid out monthly. As soon as you deposit your crypto assets to Luno wallets on the platform, your funds start earning interest right away. You are required to complete some verifications depending on the location. after completing verification, you can deposit funds and then move funds to saving account wallets to start earning, not all wallets bear interest automatically. Paid interest compounds for following months.
You can deposit local currency to your account and then convert them to any crypto supported on the platform. Luno has local partners to process deposit and transfers easier. You can always convert cryptos to local fiat currency and withdraw back to bank account with a small fee. Deposits and withdrawals limits change depending on the country and verification level. Some countries require more verification, some doesn't. There are different verification levels. For example if you complete 3. degree verification in Indonesia, deposits and withdrawals are unlimited. All the savings accounts offer instant access with no fixed terms, no hidden fees and unlimited deposits and withdrawals.
All Luno savings accounts payout interest in the same currency as you deposited. So if you deposit Bitcoin your interest will be paid in Bitcoin, if you deposit USDT, you will receive interest in USDT.
Luno was acquired by Digital Currency Group (DCG) in 2020 and partnered up with Genesis Prime Brokerage company which is one of the leading crypto asset brokerage company in the world. Partnership with Genesis increased the security of assets hold within the company. Luno has high security standards and it is very hard to break in to their platform. Users will required to use a password of they choose. Users are responsible to keep their passwords safe in case of they are hacked and their password is stolen. Luno warns its cumstomers about it.
Luno stores most assets in deep freeze, multi-signature wallets with many layers to achieve the highest security for your cryptos. Deep freeze wallets are offline and offsite. The heys are generated and managed by Bitgo Custody, leading crypto security company. Sending funds to other Luno users is free of charge.
You can calculate your potential earnings on Luno using our Luno interest rate calculator.
Luno does not provide loans for ordinary retailer customers. Loans are available for intuitional customers and savings deposits are loaned out via Genesis Trading to traders looking to trade on margin.
Luno has no hidden fees. It is completely free to deposit and withdraw funds from the platform any time you want. The minimum amount for deposits and withdrawals is $10 USD or equivalent amount of local currency.
There are various fees when you deposit local currencies to the platform. You can check details on the company’s web site. The platform doesn't allow users to add debit or credit card. You can transfer funds by using banks. Withdrawing local fiat currencies subject to local regulations and limits may vary. There is also a fee of withdrawal, deducted from the amount withdrawn.
|Exchange maker fee||0%|
|Exchange taker fee||0.1%|
|Fiat deposit fee||Free|
|Fiat withdrawal fee||Free|
|Crypto deposit fee||Free|
|Crypto withdrawal fee||Varies according to current market|
|Savings crypto account withdrawal limit||$120,000 USD per day, £600,000 USD per month|
Luno does not offer a debit card and we are not aware of any plans for the platform to start offering debit cards.
As of 30 June 2022, savings products are no longer available to UK users due to regulatory reasons.
Luno's supports the following languages: English, French, Italian and Indonesian.
Luno's services are available in the following countries:
|Legal name||Luno Pte. Ltd|
|Country incorporated in||Singapore|
|Headquarters country||United Kingdom|
|Number of employees||400|
|Number of users||8,000,000|
|Total assets under management||$21,000,000,000USD|
|Crypto to crypto exchange||Yes|
|Fiat to crypto exchange||Yes|
|Pro exchange marketplace||No|
|Instantly buy crypto with fiat||Yes|
|Integrated crypto wallet||Yes|
|Fast account verification||Yes|
|Cold storage custodian||BitGo|
|Two factor authentication||Yes|
|Know your customer||Yes|
|Fiat deposit fee||Free|
|Crypto deposit fee||Free|
|Luno Pte. Ltd - 5 Shenton Way, #10-01 UIC Building|
|Luno Money Limited - 3rd Floor, Paul Street, 86-90, London, EC2A 4NE|
|Luno Australia Pty Ltd - Level 12, 90 Arthur Street, North Sydney, New South Wales, 2060|
|Bitx Payments Limited - 6th Floor Re-insurance House, 46 Marina, Marina, Lagos|
|PT Luno Indonesia Ltd -|
|Luno Malaysia Sdn. Bhd. -|
|Luno (Pty) Ltd -|
|Luno Technology Uganda Limited -|
|Luno Technology Zambia Ltd -|
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