Luno Review 2025: Fees, Features, Safety, Pros & Cons

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Luno is a mobile-first cryptocurrency trading platform and digital wallet serving users across more than 40 countries, with a strong presence in South Asia, Africa, and parts of Europe. Designed with simplicity in mind, it caters primarily to beginners and casual investors looking for an intuitive way to buy, sell, and store major cryptocurrencies like Bitcoin (BTC) and Ethereum (ETH). However, despite its user-friendly interface and growing accessibility, Luno has faced scrutiny due to its corporate ties and limited functionality compared to larger exchanges.

In this comprehensive Luno review for 2025, we’ll examine the platform’s fees, supported assets, security practices, regional availability, and overall usability—helping you determine whether it aligns with your crypto goals.

Key Features of Luno

Luno combines a crypto exchange with a custodial wallet, offering basic but functional tools for new traders. Its core offerings include:

While these features are helpful, they fall short of the advanced charting, staking, lending, or derivatives trading found on platforms like Binance or Coinbase.

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Supported Cryptocurrencies and Trading Pairs

Luno supports seven core cryptocurrencies:

Some regions also support additional tokens such as Solana (SOL), Cardano (ADA), and USDC, though availability varies by country.

Trading pairs are limited. UK-based users can access up to 25 trading pairs, while U.S. customers are restricted to only BTC and ETH and cannot use the exchange’s order book—instead relying solely on Instant Buy.

This narrow selection makes Luno less suitable for traders interested in altcoins or diversified portfolios.

Fiat Currency Support and Payment Methods

Luno supports 11 fiat currencies, including:

Deposit methods vary by region:

Fiat deposits are typically free, though minimum thresholds apply. Banks or third-party processors may impose additional charges.

Geographic Availability and Restrictions

Luno operates in over 40 countries, including the U.S., U.K., Australia, Indonesia, Malaysia, Nigeria, Singapore, South Africa, and Uganda. It also serves nations within the Single Euro Payments Area (SEPA).

However, access varies significantly by location:

Restricted countries include Algeria, Egypt, Iran, Iraq, Russia, Syria, Cuba, and several Caribbean territories. You must reside in a supported country both during signup and ongoing use.

Understanding Luno’s Fee Structure

Luno’s fees depend on your region and transaction type. Here's a breakdown:

Instant Buy/Sell Fees

Ideal for beginners but come at a premium:

U.S. users pay around 0.75% per Instant Buy transaction, which is relatively competitive.

Trading Fees

Luno uses a maker-taker model:

Notably, Singapore and U.S.-based traders don’t have access to the exchange order book.

Sending and Receiving Fees

Deposit & Withdrawal Fees

Most bank transfers are free, but minimum amounts apply. Third-party providers or wire services may charge extra.

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Security Measures and Fund Protection

Luno employs industry-standard security protocols:

Despite no reported breaches since launch, some users have experienced account takeovers—often due to compromised email accounts or SIM-swapping attacks. As with all custodial platforms, users bear responsibility for personal account security.

Is Luno Regulated?

Yes—Luno is registered as a virtual asset service provider in multiple jurisdictions, including the U.S. (FinCEN), the U.K., South Africa, and Malaysia. You can view its official licenses on their legal page.

However, registration does not equate to full regulatory oversight or independent audits of reserves. Unlike some competitors, Luno does not publish proof-of-reserves reports.

Has Luno Been Hacked?

There have been no confirmed platform-level hacks affecting Luno’s infrastructure. All reported incidents involve individual user accounts compromised through phishing or social engineering—not systemic failures.

Still, the lack of audit transparency raises concerns about financial resilience—especially given its parent company’s recent troubles.

The Impact of Genesis Bankruptcy on Luno

Luno is owned by Digital Currency Group (DCG), the same firm behind Genesis—a crypto lending platform that filed for bankruptcy in January 2023.

Although Luno maintains it operates independently, it laid off 35% of its workforce shortly after Genesis collapsed—raising questions about financial interdependence.

While withdrawals remain active and operations continue uninterrupted, the association introduces perceived risk. If DCG faces broader liquidity issues, Luno could be affected—potentially leading to frozen assets or service disruption.

How Easy Is It to Sign Up?

Creating a Luno account is straightforward:

  1. Visit luno.com or download the app.
  2. Register with email or social login (Apple/Google/Facebook).
  3. Verify your email.

  4. Complete identity verification by uploading:

    • Passport
    • Driver’s license
    • National ID card

Verification usually takes 1–2 days. Full access requires KYC completion.

Mobile App Experience

The Luno app is available on iOS and Android with consistent functionality across desktop and mobile. The clean interface mirrors the web version, making navigation intuitive.

Users can trade, set price alerts, enable recurring buys, and access educational content—all from their phones. While app store reviews are average, most complaints relate to customer support delays rather than technical flaws.

Frequently Asked Questions (FAQ)

Q: Can I trade altcoins on Luno?
A: Limited options exist. Only seven core cryptocurrencies are supported, with few altcoins available outside major markets like the U.K.

Q: Are my funds safe on Luno?
A: Luno uses strong security measures like cold storage and third-party custody. However, as a custodial wallet tied to DCG, long-term financial stability remains a concern post-Genesis collapse.

Q: Why are Instant Buy fees so high?
A: These fees cover convenience and speed—similar to buying crypto via debit card on other platforms. They’re higher than standard market trades but avoid slippage.

Q: Can I withdraw fiat money from Luno?
A: Yes—depending on your region. Bank transfers are the primary method for fiat withdrawals.

Q: Does Luno offer staking or passive income?
A: No—unlike Binance or Coinbase, Luno doesn’t currently offer staking, lending, or yield-generating products.

Q: Is Luno better than Coinbase for beginners?
A: For basic BTC/ETH purchases in supported regions, yes—especially where Coinbase isn't available. But Coinbase offers more coins, lower spreads, and better liquidity overall.

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Final Verdict: Who Should Use Luno?

Luno is best suited for:

It’s not ideal for:

With solid security infrastructure but limited scope and lingering financial uncertainty, Luno remains a niche player—valuable in specific regions but outclassed globally.

For traders wanting broader opportunities and enhanced transparency, exploring alternatives may be wise.

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