Luno to Become a Game Changer in African Cryptocurrency Sector?

Headquartered in London, UK, Luno, today stands tall as one of the world’s most powerful and trusted cryptocurrency exchange and wallet service providers. The elite team of dedicated professionals and their striving efforts to develop the emerging markets in under-developed or developing economies has made Luno earn a brand name for itself in the crypto space.

Luno entered the African market back in 2013 when it started its operations in the name of BitX. Despite being small in comparison to other globally reputed & top crypto exchanges, Luno became a hot-shot destination for the African investors because of its path-breaking technological competence clubbed with a goal-oriented strategic approach. The crypto exchange allows its global customers to buy, sell, and store Bitcoin, Ether, and other digital currencies in a secured, transparent, and open network.

As a major achievement, Luno has now become the first cryptocurrency trading exchange to be bestowed upon with a positive approval from the Securities Commission of Malaysia. The crypto exchange is keen to put in its best efforts to explore the opportunities of success in the African region. The excellent resources provided by Luno have made it earned a strong client base, which includes renowned names like Barclays, Google, Amazon, Morgan Stanley, etc.

The crypto exchange is adamant about bringing a revolution through cryptocurrencies in developing countries like Africa by making transactions convenient for every person. Marcus Swanepoel, the CEO of Luno, addressed a gathering at the AfricaCom 2019 and stated that “Africans using traditional currencies face high transaction costs, inflation and currency devaluation, exorbitant interest rates and high levels of fraud. Coupled with all this – accessing the existing system (despite many have a mobile phone and conduct other elements of their lives online) is still incredibly restrictive.”

The team of Luno is directed to help the African economy come out of its unfortunate condition by popularizing cryptocurrencies in the region and providing the best tools to take advantage of these digital currencies. At present, Luno serves more than 3 million customers in over 40 countries with its unparalleled excellence, which allows a successful execution of transactions of over $8 billion on its platform. It has the lowest transaction fees among other crypto exchanges in nigeria.

How to Use Luno?

The interested investors can enjoy the services of Luno in three simple steps:

  • Firstly, sign-up for the LUNO wallet on the web, iOS, or Android.
  • Create your profile.
  • Transfer funds through a credit card or bank transfer on to the Luno wallet.
  • Use the funds deposited to buy Bitcoin and Ethereum. The digital holdings are stored securely in the wallet and can be used as per convenience.

Why Choose Luno?

Luno promises to offer the best security standards to its clients. The platform has affirmed that the digital holdings on the exchange are stored in multi-signature cold storage wallets. These wallets are secured by such a technological system that requires the signatures of several Luno executives before giving access. In integration with BitGo, Luno also stores its funds in hot wallets which are also multi-signature wallets.

As exchange hacks are becoming quite common, Luno has added an additional security layer to combat any such unwanted incident. This can also be proven with the fact that the exchange has never been subjected to such attacks since its inception.

Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

Related Articles

Back to top button