November 8, 2020
Luno is a Bitcoin and cryptocurrency exchange that operates across a number of different jurisdictions. Mainly, Luno offers users to buy, sell and trade Bitcoin and cryptocurrency in many countries across Europe, Asia and most notably Africa. Similar to Coinbase and Kraken, it offers a crypto wallet as well as an exchange.
Signing up with Luno is simple, all you need to do is head to their website and navigate to the top right where you can press the “Sign-up” button. You will be asked to enter basic verification details such as country of residence, email address and your chosen password. After you verify your email, you will then be asked to enter your mobile number. From there, you will receive a verification sms on your mobile and be prompted to enter the details.
Once you have completed this first stage of signing up, you will need to complete your KYC identity information to get started trading. The documentation required will be dependent on which jurisdiction you are registering from. Please visit this Support Documentation Page for further details.
To transfer funds onto Luno, simply click on the wallet button in the navigation menu. This will then lead you straight to the page where you can see your account balance for both crypto and fiat. In our case, we are using ‘Euros’ as we signed up from Europe - so click on the Euros button to deposit the Fiat.
Once you click on the currency wallet, you will then see a range of different payment options depending on your jurisdiction. If you want to keep your fees low, Buy Bitcoin Finder recommends you go for the bank transfer option as Credit Cards and Debit Cards can get expensive. From there, simply follow the instructions to deposit funds into your account.
Once you have deposited fiat into your account, buying Bitcoin or crypto is easy with this exchange. To get started, click on the “Exchange” tab highlighted in the screen shot provided above. To quickly buy crypto, there is an instant buy option that will purchase any Bitcoin or crypto for you at market price. This is our recommended option for newbies entering the market.
Otherwise, the orderbook section of the exchange will enable you to set a “limit buy”, which means that it will execute a purchase if Bitcoin or any other crypto hits a certain price. For example, if the current price is $10,000 USD and you want to execute a purchase at $8,000 USD - simply set a “limit buy” order at $8,000 USD and the exchange will automatically execute the trade when it hits that price.
Buy Bitcoin with Luno here.