how to buy crypto with luno

To buy cryptocurrency with Luno, create an account, verify your identity, deposit funds, and select from a wide range of available cryptocurrencies to purchase.

Feb 01, 2025 at 04:54 pm

Key Points:

• Luno is a cryptocurrency exchange that allows users to buy, sell, and store cryptocurrencies.
• To buy crypto with Luno, you will need to create an account, verify your identity, and deposit funds.
• Luno offers a variety of cryptocurrencies to buy, including Bitcoin, Ethereum, Litecoin, and Bitcoin Cash.
• You can buy crypto with Luno using a bank transfer, credit/debit card, or SEPA transfer.
• Luno has a mobile app and a web platform that you can use to buy crypto.

How to Buy Crypto with Luno

1. Create a Luno Account

The first step to buying crypto with Luno is to create an account. You can do this by visiting the Luno website or downloading the Luno mobile app.

When you create an account, you will be asked to provide your name, email address, and phone number. You will also need to create a password.

2. Verify Your Identity

Once you have created an account, you will need to verify your identity. This is required by law in order to prevent money laundering and other financial crimes.

To verify your identity, you will need to upload a copy of your government-issued ID card or passport. You may also be asked to provide a proof of address, such as a utility bill or bank statement.

3. Deposit Funds

Once your identity has been verified, you will need to deposit funds into your Luno account. You can do this by using a bank transfer, credit/debit card, or SEPA transfer.

The minimum deposit amount is $10.

4. Buy Crypto

Once you have deposited funds into your account, you can start buying crypto. To do this, simply go to the "Buy" tab on the Luno website or mobile app.

You will then need to select the cryptocurrency that you want to buy and enter the amount that you want to buy. You can then click on the "Buy" button to complete the transaction.

Cryptocurrencies Available on Luno

Luno offers a variety of cryptocurrencies to buy, including:

• Bitcoin (BTC)
• Ethereum (ETH)
• Litecoin (LTC)
• Bitcoin Cash (BCH)
• Ripple (XRP)
• Stellar (XLM)
• USD Coin (USDC)
• TrueUSD (TUSD)
• Dai (DAI)

Fees

Luno charges a fee for each transaction. The fee varies depending on the cryptocurrency that you are buying and the payment method that you are using.

The fee for buying Bitcoin with a credit/debit card is 1%. The fee for buying Bitcoin with a bank transfer is 0.5%.

FAQs

Q: How long does it take to buy crypto with Luno?

A: It usually takes a few minutes to buy crypto with Luno. However, the time may vary depending on the payment method that you are using.

Q: What is the minimum amount of crypto that I can buy with Luno?

A: The minimum amount of crypto that you can buy with Luno is $10.

Q: Is Luno a safe place to buy crypto?

A: Yes, Luno is a safe place to buy crypto. Luno is a regulated exchange that has implemented a number of security measures to protect its users' funds.

Q: How do I store my crypto after I buy it?

A: You can store your crypto in your Luno wallet or in a hardware wallet. A hardware wallet is a physical device that stores your crypto offline, which makes it more secure than storing your crypto in a software wallet.