Luno Review 2027Core Trading Conditions and Fees

Luno review 2027: crypto for emerging markets

Luno began in 2013 under the name BitX, founded by Marcus Swanepoel and Timothy Stranex, and took its current name in 2017. Its headquarters are in London, but its heart is in the markets it serves: South Africa, Nigeria, Malaysia, Indonesia and a handful of others, where it has been many people's first experience of crypto. The company reports more than 14 million customers. Since 2020 it has been owned by Digital Currency Group, the US firm that also owns the asset manager Grayscale. Luno's proposition for 2027 is simplicity, local currency access and regulatory approval in places where both are scarce.

An app built for first-time buyers

The Luno app is deliberately spare. A new customer can verify identity, deposit rand, ringgit or naira where permitted, and buy bitcoin or another major coin in a few minutes. Educational prompts explain the basics along the way, and recurring purchases can be scheduled. Only around thirty assets are offered, chosen conservatively. For people who simply want exposure to the main cryptocurrencies without learning to use an order book, this restraint is helpful.

The exchange and its fees

Behind the simple screen sits a proper exchange. On the order book, makers pay nothing and takers pay from about 0.10% for most pairs, with reductions at higher volumes, although the exact schedule differs by country and market. The instant buy and sell function costs noticeably more, with a fee that has typically ranged around 1% to 2% or a spread built into the price. As at most consumer-focused platforms, learning to place a limit order on the exchange screen saves real money.

South Africa

South Africa is Luno's largest market. The country brought crypto under financial regulation by declaring it a financial product, and in 2024 Luno was among the first exchanges to receive a licence from the Financial Sector Conduct Authority as a financial services provider. Rand deposits by electronic transfer are free, and the rand order books for bitcoin, ether, XRP and USDC are among the most liquid in the country. Luno has also added tokenised US stocks for South African customers and supports a partner payments service that lets users spend crypto at major retailers.

Malaysia and other markets

In Malaysia, Luno was the first exchange approved by the Securities Commission as a recognised market operator for digital assets and remains the largest of the small group licensed there. Only tokens cleared by the commission may be listed. In Nigeria, central bank restrictions on banks serving crypto firms disrupted naira deposits for years, and conditions improved after the policy was relaxed and a licensing framework took shape. In the United Kingdom, tightened rules on crypto promotions led Luno to limit services for some customers, so availability there is narrower than elsewhere.

Security and proof of reserves

Luno has operated since 2013 without a major breach of customer funds. Most crypto is kept in multi-signature cold storage, with keys held in bank vaults across different locations. The company has published proof-of-reserves attestations prepared by an independent accounting firm and states that customer assets are held one to one and are not lent out unless a customer opts into a specific product. Accounts support two-factor authentication, and withdrawals to new addresses can be delayed as a safety measure.

The DCG question

Luno's parent has had a difficult few years. DCG's lending subsidiary, Genesis, filed for bankruptcy in early 2023, and DCG itself has faced litigation, including a suit by the New York Attorney General. Luno has said consistently that its operations and customer assets are ring-fenced from the parent and that it had no exposure to Genesis. Its local licences require segregation of client assets, which supports that position. The link is still worth knowing about when judging corporate risk.

Advantages and drawbacks

• Accessibility: an exceptionally simple app with local currency deposits.
• Licences: regulated in South Africa and Malaysia.
• Record: more than a decade without a major security incident.
• Selection: a short list of coins and no derivatives.
• Instant-buy cost: convenient purchases are pricey compared with the order book.
• Parent company: ownership by a group with well-publicised legal troubles.

Who should use Luno?

Luno is ideal for beginners in South Africa, Malaysia and its other core markets who want a regulated, uncomplicated way to buy major coins. Experienced traders will outgrow it.

Verdict

Luno does a narrow job well, and in several countries it is the most thoroughly regulated option available. For 2027 it remains a dependable starting point. Use the exchange screen to cut costs, and stay aware of developments at its parent.

Luno review: compare the alternatives

This Luno review is part of our Top 45 Cryptocurrency Exchanges in 2027 ranking. To compare, read the Bitvavo review and the Bitso review.