How To Make Money From Luno In South Africa

What is Luno?

Luno is the simple crypto investment app for everyone. We make it safe and easy to explore, buy and store crypto – no experience needed. Our mission is to put the power of cryptocurrency in everyone’s hands. That means cutting through the hype and helping you to decide for yourself.

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Frequently Asked Questions

How do I make money on Luno?
You can earn up to 1.5%* interest on your Bitcoin**, 2% on your Ethereum**, and up to 7.6%* interest on your USDC** per annum. Your earnings are then paid in crypto directly into your correlating Savings Wallet on the first day of each month.

What is the minimum deposit for Luno in South Africa?

What Is The Minimum Deposit For Luno In South Africa? As long as USD10 is maintained as the minimum threshold.

Can you lose money on Luno?

The volatility and unpredictability of the price of cryptocurrency relative to local currency may result in significant loss over a short period of time. Buying and selling cryptocurrency could result in a complete loss of your funds. Luno’s Supported Cryptocurrencies are not backed by any entity.

How long does it take to get money from Luno?

How long does it take, exactly? The minimum expected receive time ranges from five minutes to two hours

Can you get scammed on Luno?

You receive an SMS that you weren’t expecting telling you to update, verify or validate your Luno account. The link will direct you to a fake Luno website. When you try to sign in to this fake site, you’ll get an error message – but the scammer has just collected your sign-in credentials.

What is the minimum amount to invest in Luno?

The Minimum Threshold is USD10. 00, or its equivalent in any applicable Supported Cryptocurrency calculated on the day on which the liquidation is performed

Which bank does Luno use?

To make it a little easier for you, if you bank with ABSA, Standard Bank, Capitec, FNB or Nedbank, you can just search for “Luno” under “Public Beneficiaries”, instead of manually entering our bank details. More about that here.

How does Luno work in SA?

Luno’s brokerage service facilitates the buying and selling of cryptocurrency through a dealer network, as opposed to a centralised exchange. A Luno broker connects sellers with buyers and pairs them for a sale. Cryptocurrency is sold or bought at a quoted exchange rate which includes a brokerage fee.

How do I know if I’m being scammed on Luno?

Signs-up for a trading website or with expert scammer. Offers unrealistically high or guaranteed returns in a short space of time. As soon as the first deposit is received another deposit is immediately required.

Which country owns Luno?

Luno Pte. Ltd. (2012 0954 5R) is incorporated in Singapore, with its registered address at 5 Shenton Way, #10-01 UIC Building, Singapore (068808).

Is Luno legit in South Africa?

Yes, Luno is available in South Africa and is very much legit. According to the exchange’s official website, Luno is registered with the Financial Intelligence Center.

How do I withdraw money from Luno?

Choose Wallets from the menu.
Select your local currency wallet and then WITHDRAW.
Select your bank account (If you haven’t linked your bank account yet, you will be prompted to do that.
Enter the amount you’d like to withdraw and select NEXT.