How to Trade on Luno Exchange

Luno is a popular cryptocurrency exchange that allows users to buy, sell, and trade cryptocurrencies such as Bitcoin, Ethereum, and others. Many new users are interested in learning how to trade on Luno safely and effectively. This guide explains, step by step, how to create an account, deposit funds, execute trades, and withdraw your earnings — all in a clear and beginner-friendly way.

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How to Trade on Luno Exchange

What Is Luno Exchange?

Luno is a global cryptocurrency exchange founded in 2013 and headquartered in London. The platform operates in several countries across Africa, Asia, and Europe. Its goal is to make cryptocurrency accessible to everyone, offering a simple interface for beginners and advanced trading options for experienced users.

As a centralized exchange, Luno acts as a middleman between buyers and sellers. Users can trade popular cryptocurrencies such as Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC) using local fiat currencies like USD, EUR, ZAR, NGN, and others, depending on their region.

Creating a Luno Account

Before trading on Luno, you’ll need to create and verify your account. Follow these steps:

  1. Sign Up:
    Visit the official Luno website or download the Luno mobile app. Click on “Sign Up” and enter your email address, password, and country of residence.
  2. Verify Your Email:
    After registration, check your email inbox for a verification link. Click the link to confirm your email address.
  3. Complete Identity Verification (KYC):
    To comply with financial regulations, Luno requires users to verify their identity. You’ll need to upload a government-issued ID (such as a passport or driver’s license) and, in some cases, a selfie for additional verification.
  4. Secure Your Account:
    Enable two-factor authentication (2FA) for extra security. This adds a second layer of protection when logging in or making withdrawals.

Once verified, your account will have access to all trading and withdrawal features.

Depositing Funds into Luno

After setting up your account, the next step is to deposit funds into your Luno Wallet.

  1. Choose a Deposit Method:
    Luno supports both fiat currency deposits and cryptocurrency transfers. The available options depend on your country.
    • Bank Transfer: The most common method for depositing local currency.
    • Credit or Debit Card: In some regions, Luno allows card payments for quick deposits.
    • Crypto Deposit: You can send cryptocurrency from an external wallet directly to your Luno wallet address.
  2. Add Funds:
    • Go to the “Wallets” section.
    • Select the currency or cryptocurrency you want to deposit.
    • Follow the on-screen instructions to complete the transaction.

Deposits made via bank transfer may take a few hours to process, while crypto deposits are confirmed once they’re verified on the blockchain.

How to Trade on Luno Exchange

Once your account is funded, you can start trading. Luno provides two main trading options: Instant Buy/Sell and Luno Exchange.

  1. Instant Buy/Sell:
    This option is ideal for beginners. You simply enter the amount of cryptocurrency you want to buy or sell, and Luno automatically completes the trade at the current market price.
    • Go to “Buy” or “Sell.”
    • Choose your cryptocurrency (e.g., Bitcoin or Ethereum).
    • Enter the amount and confirm the transaction.
  2. Luno Exchange (Advanced Trading):
    For users who want more control, the Luno Exchange offers a live trading interface with market data and charts.
    • Open the “Exchange” tab.
    • Choose a trading pair, such as BTC/ZAR or ETH/NGN.
    • You’ll see an order book, price chart, and trade history.
    Luno supports two types of orders:
    • Market Order: Executes immediately at the current best available price.
    • Limit Order: Allows you to set your desired buy or sell price; the order executes only when the market reaches that price.

After placing your order, you can track its progress in the “Orders” section.

Withdrawing Funds from Luno

Once you’ve completed your trades, you can withdraw your funds either in fiat or cryptocurrency.

  1. Fiat Withdrawals:
    • Go to “Wallets” and select your local currency wallet.Click “Withdraw.”Enter your linked bank account details and withdrawal amount.Confirm the transaction.
    Bank transfers typically take 1–3 business days, depending on your region and bank.
  2. Crypto Withdrawals:
    • Select the cryptocurrency wallet (e.g., Bitcoin Wallet).
    • Choose “Send” or “Withdraw.”
    • Enter the recipient’s wallet address and the amount to send.
    • Confirm the transaction and verify via 2FA if required.

Withdrawals are irreversible, so always double-check wallet addresses before confirming.

Trading Tips for Beginners

While Luno provides an accessible way to trade cryptocurrencies, it’s essential to follow safe and responsible practices:

  • Start Small: Begin with small amounts to understand how the platform works before trading larger sums.
  • Use Secure Networks: Avoid using public Wi-Fi when logging into your account or making transactions.
  • Enable 2FA: Always keep two-factor authentication turned on.
  • Stay Informed: Keep an eye on crypto market trends and Luno’s official updates.
  • Avoid Sharing Login Details: Never share your passwords or verification codes with anyone.

Trading on Luno Exchange is a straightforward process that involves creating an account, verifying your identity, depositing funds, and executing trades using the Instant Buy/Sell feature or the advanced Exchange interface. By following each step carefully and prioritizing security, users can navigate the platform with confidence. Remember, cryptocurrency markets can be volatile, so understanding how the system works is key to trading safely and effectively.