Yes, the Luno exchange platform works in Iran.
That answered, let’s go to the main course for today
In this article, I will share with you;
- A brief history of the Luno exchange platform
- A review of the Luno exchange
- Some pros and cons that you need to know
- Finally some FAQS
If you’re ready, then let’s dive in
Brief history of the Luno exchange platform
The Luno crypto exchange started in 2013 having its headquarter located in London, England and the United Kingdom
It started out in 2013 with a great urge to empower billions of people across the world by introducing them to a more open and efficient financial system
Due to this desire, they built a platform(LUNO) as a method through which this dream will be achieved.
This quest for impacting lives with a better method of viewing finance in this digital age has made them grow very wide
Presently, Luno is represented in over 40 countries worldwide making them a popular exchange
With about 7 million users across 43 countries worldwide, they employed over 600 workers into their team.
But is the Luno exchange platform right for you?
Luno review, pros and cons
The Luno crypto trading exchange is a platform that has existed for a long time
Since its establishment in 2013, the crypto trading platform has successfully transacted $52 billion worth of trading volume
They have helped introduce a lot of people to crypto especially in its early days
This had paved way for their success
Well, back to the subject, is Luno worth it or not?
There are some things to look for in a trade exchange before buying into their idea
These things are very important and ranges from the more important things down to the less important
Nevertheless, we are going to view some of those things below:
1 Strong security
2 Low Fees
3 Free guides
4 Interest rates
5 Mobile app
#1 Strong security
You name it, there’s literally nothing important that you will involve yourself in without first checking the authenticity of their security
Right from online supermarkets to physical stores, there is no one that prefers an unsafe organisation
Luno is very safe for trading cryptocurrencies, whether in terms of buying, selling or even storing your crypto coins
If what you need in a crypto exchange is security, then Luno will make the list
Not only does Luno provide a safe environment for trading, they also provide free cold storage wallets to their users
According to them, most of the funds traded on their platforms are stored in cold storage wallets which are in secure safes kept in the bank
The rest of the money are kept in hot wallets to satisfy the daily trading needs
So far, this tactic has made Luno a no go area for most hackers who want to steal coins
As we all know that cold storage wallets are not connected to the internet which makes them less vulnerable to attacks.
#2 Low fees
Out of the hundreds or maybe thousands of crypto exchanges worldwide, Luno offers one of the lowest transaction rates
Luno transaction rates is about 0.1% which is even lower than the transaction rates of most exchanges
This transaction fees is not constant and may vary sometimes
Their transaction fees are affected by some factors which include; change in daily trading volume, amount of funds being traded and even region.
This is particularly good especially for those who carries out many transaction a day
The lower, the better!
#3 Free educational guides
Education is a very important factor in business
A business owner could lose his customers just because he forgot to inform them about what his business entails
The same way this works in business is the same way it works in Blockchain
Crypto is technical!
Take it as a fact, there’s no argument
Just the fact that more crypto courses have been created over the past few years alone is enough proof to show how technical crypto is
So imagine an exchange that is willing to sacrifice its useful time to explain what its customers could have paid for elsewhere…
This shows their commitment and willingness to their users worldwide
If you search thoroughly, you would see just how many guides Luno has curated for you
They broke complex topics into simple bits for you to understand properly
Their platform is out on the web to make this business fair i.e by empowering more people with the knowledge and skill to join the crypto craze.
So it is really wonderful to get to understand the basics and fundamentals of cryptocurrencies
Also if we should consider the area of user interface, they have a very simple user interface
Easy to navigate even for someone with little knowledge of the internet
It doesn’t take time for you to understand their user interface even if you are just new to their platform
This saves you the time and effort required to understand the interface and reveals enough time for you to kick off in your crypto journey faster
#4 Interest rates
In terms of this, the Luno exchange platform hosts a kind of earning program on their website
Such that interest rates (passive income) will be paid on funds of a user
The have their metrics for calculating the interest rates
#5 Mobile app and website
If this sounds like an advantage for you, then let me tell you
Luno has a mobile app for their users, so in case you want to use their services on your mobile device, they have you covered
They also have a website!
A website? Is that an advantage?
Yeah, let it be known to you that there are still crypto exchanges out there without a website
So if this does not sound absurd to you, they have a website
1 Minimum coin listings
#1 Minimum coin listings
As a crypto exchange, one of the areas where Luno lacks is in their coin listings
Despite the fact that they have existed for a long time, their coin listings is still very small
Unlike all other top crypto exchanges, Luno’s listing is very small
From a certain point of view their listings is smaller than even new exchanges
This in turn had affected their position in the rankings of crypto exchanges
They listed only seven cryptocurrencies for trade
1 Bitcoin (BTC)
2 Ethereum (ETH)
3 Ripple (XRP)
4 Chainlink (LINK)
5 Uniswap (UNI)
6 Bitcoin cash (BCH)
7 Litecoin (LTC)
And probably others
But from another point of view, you’ll find out that though the coin they listed is small, they are the top notch coins in the crypto industry.
So it is like they are very thorough with their listings i.e they only list a coin if they are sure enough that it will benefit their users.
Frequently asked questions
Below are some frequently asked questions:
Alternatives to Luno?
If you are looking for an alternative to Luno, then these might be a fir for you
1 Binance: This is the biggest crypto exchange in the world by trade volume which is over $76Billion.
Unlike Luno, they have a massive listing of cryptocurrency as well as NFT’s.
They have low transaction rates and offer faster transactions
You can sign up here.
2 Coinbase: This is the second biggest crypto trading platform in the industry lagging right behind Binance.
They also have a huge listing and fast transaction rates.
How much is Bitcoin?
After the crypto market experience a huge crash, a lot of people have been constantly checking for the price of.Bitcoin
Well, the price of one BTC is $21,026.32 per (BTC / USD) today with an increase in price of about +2.09% in the last 24 hours
With a circulating supply of about $19.08Million, it has a current market cap of $401.09 Billion.
You can check Bitcoin’s current price here.
How much is Ethereum?
The price of.one Ethereum is $1,149.01 which is due to an increase in price of about +5.08% in the last 24 hours.
With a circulating supply of $121.28M, it has a current market cap of $139.36 Billion
You can re-check Ethereum’s current price here
How much is Binance coin?
One BNB is valued at $233.50 per (BNB / USD) today due to an increase in price of +4.67%.
With a circulating supply of $163.28 million, it has a current market cap of $38.13 billion.
You can check BNB’s live price here
Is Luno available in the US?
No, the Luno exchange is not available in the US.
This is why they are not as popular a top exchanges; they are not providing their services to the region that houses most of their target audience
Where to buy Bitcoin in Iran
If you are looking to buy Bitcoin in Iran then there are some exchanges you could use to buy BTC.
Some of these exchanges include:
Over to you
There are many things to consider when determining if a crypto exchange is right for you or.not
These things ranges from top notch features like security to less important things
These factors are further divided into sectors that suggests what is more important to you as an individual investor
As an individual investor, you may find solace in venturing loosely into different crypto tokens regardless of the risk involved while for another, being cautious before making the least of his actions might be his preference
So if you love investing in multiple coins, then LUNO may not be right for you because of their little coin listings.
But from what we know, Luno is best for beginners who are just starting out not for intermediate and advanced learners who have gained some knowledge already
Over to you, the decision is yours! not ours!
DISCLAIMER: No information on this site should be perceived as an investment advice
No matter what, you should only invest what you can afford to lose