Introduction
This guide provides a step-by-step breakdown of trading cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), and Ripple (XRP) on Luno, a popular crypto exchange platform. Whether you're a beginner or an experienced trader, this tutorial covers essential strategies, fees, and security tips to optimize your trades.
Getting Started with Luno
1. Sign Up and Verification
- Create an account on Luno’s official website.
- Complete identity verification (KYC) to enable deposits and withdrawals.
2. Depositing Funds
- Link your bank account or credit/debit card to deposit fiat currency (USD, EUR, etc.).
- Alternatively, deposit existing cryptocurrencies into your Luno wallet.
3. Navigating the Dashboard
- Wallet: View balances and transaction history.
- Market: Check real-time prices of BTC, ETH, LTC, and XRP.
- Trade: Execute buy/sell orders.
How to Trade Crypto on Luno
1. Spot Trading
- Limit Orders: Set custom buy/sell prices (e.g., buy BTC at $50,000).
- Market Orders: Instantly buy/sell at current market rates.
2. Recurring Buys
- Schedule automatic purchases (e.g., daily DCA for BTC).
3. Withdrawing Profits
- Convert crypto to fiat and withdraw to your bank account.
Fees and Security
Luno Trading Fees
- Maker Fee: 0.1%–0.4% (reduces with higher volume).
- Taker Fee: 0.1%–0.5%.
👉 Maximize your trades with low fees
Security Tips
- Enable 2FA (Google Authenticator).
- Use cold storage for long-term holdings.
FAQs
1. Is Luno safe for trading?
Yes—Luno is regulated and employs encryption, 2FA, and cold storage.
2. Can I trade XRP on Luno?
Absolutely! XRP is among Luno’s supported assets.
3. How long do withdrawals take?
Bank withdrawals: 1–3 business days; crypto transfers: minutes to hours.
Conclusion
Mastering crypto trading on Luno involves understanding market trends, fees, and security measures. Start small, use tools like recurring buys, and gradually scale your portfolio.