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 Luno Malaysia, Your experience, reviews, thoughts

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jack2
post Jul 28 2020, 12:06 PM

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LUno takes high fee on BTC withdrawal but it has been 45 mins and the status is still in processing... it means they have yet to broadcast to the blockchain.

mad.gif ranting.gif

This post has been edited by jack2: Jul 28 2020, 12:18 PM
jack2
post Jul 28 2020, 11:35 PM

Mr
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QUOTE(KCY3701 @ Jul 28 2020, 10:24 PM)
I noticed that too. They charged me 23775 satoshis for the transaction but they actually only used around 22k, while also combine with other 4~5 transactions together, which is around 5k sats each. Worse that the Xapo wallet I used moons ago. It's around RM9 for just fees. We would expect fast transaction with that premium, sadly not.

If I am not in hurry to get the funds, I hope Luno gives us a cheaper option to send BTC, so that I can send at night and get the next morning (a bit of an extreme case). But if a trader wants the funds transferred very fast, eg. to trade on exchanges, he can choose to pay a higher premium for a fast service.
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Someone has highlighted this before and hope Luno would implement it. Otherwise, it is too expensive to pay such and Luno earns on it.

As what you said, we paid for high fee and it is not on a single payer whereby there are many....
jack2
post Jul 29 2020, 10:48 PM

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QUOTE(mrluno @ Jul 29 2020, 04:40 PM)
Hi jack2,

Yes, Luno wallet to Luno wallet is free.

Do let me know if you have any other questions.
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Not true. IN the preview window, I can see the fee is shown with RM20_

NETWORK FEE
help
BTC 0.00054719
Approx. MYR 25.64
jack2
post Jul 30 2020, 02:05 AM

Mr
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QUOTE(!@#$%^ @ Jul 29 2020, 11:00 PM)
well, they have 'SC backup' so u know la. there are better options out there
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May be can report to SC to find out about the fee charges if they do earn on it but undisclosed...huhu
jack2
post Jul 30 2020, 09:25 AM

Mr
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QUOTE(!@#$%^ @ Jul 30 2020, 07:33 AM)
no use one.
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Never try never know.

But one thing I am sure that they allow robot usage in the platform. Either by themselves or the customers.
jack2
post Aug 2 2020, 02:20 PM

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QUOTE(881118 @ Aug 2 2020, 01:39 PM)
zzz server so lag when price crash, cannot sell
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Baxause robot ki siao
jack2
post Aug 4 2020, 01:24 AM

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QUOTE(oranjeguy @ Aug 3 2020, 08:47 PM)
Hi Mr. Luno, any idea whats the hold up on the fund withdrawal done over the last few days? giving me jitters again... sad.gif
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Yes, the withdrawals supposed to be processed by today but it is not.
jack2
post Aug 4 2020, 10:23 PM

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QUOTE(881118 @ Aug 4 2020, 09:27 PM)
new fees so expensive, pls revert back to 0.2%
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yes, I don't like the new fees.
jack2
post Aug 6 2020, 09:58 AM

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Trading bitcoin is still.prohibited by banks now?
jack2
post Aug 6 2020, 06:49 PM

Mr
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QUOTE(mrluno @ Aug 6 2020, 10:34 AM)
Hi jack2,

Are you noticing something on your end? To our knowledge because we are regulated DAX under the Securities Commission Malaysia and the banks should have no legal standing to disallow THEIR customers from using banking accounts for trading.

Thanks!
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No, I am just asking. Afraid if I withdraw to Maybank and maybank knows this is bitcoin withdrawal, then they close my account
jack2
post Aug 11 2020, 12:00 PM

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it happened to my friend:

QUOTE
Remitano is not safe at all nowadays whereby there is one case that the buyer forged the fake M2U receipt to buy from someone during midnight and hoping the seller is sleeping and did not response and they released the BTC.

The seller has submitted all proofs together with video to record the bank account history and also the Maybank2u reference number is not in order but Remitano is still dragging the case to wait for buyer to show video.

The buyer gave reason that the M2U history is not accessible and can't make video and she will need to go bank to get hardcopy to prove.

Again, hardcopy can be forged as well.

Please stay away from Remitano from now.

jack2
post Aug 12 2020, 01:12 AM

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QUOTE(!@#$%^ @ Aug 12 2020, 12:47 AM)
how to hijack email number? what is email number?
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i guess he is from China and using china email with 123456@qq.com tongue.gif
jack2
post Aug 17 2020, 01:05 PM

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QUOTE(frequency @ Aug 17 2020, 09:49 AM)
My KYC has been processing more than 3 days..and now they no bother reply me.

Every second counts when come to crypto trading

I will never use Luno again
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QUOTE(!@#$%^ @ Aug 17 2020, 10:46 AM)
wise choice
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wow... nod.gif


QUOTE(tanariz @ Aug 17 2020, 12:12 PM)
mrluno,

Could you ask your backend team to enable feature like remember this internet browser. i know this is good for security ,  but im lazy to keep keyin password/MFA whenever i switch to vpn or idle for sometime.
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second it
jack2
post Aug 18 2020, 10:42 AM

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MrLuno,

Can you answer this question?

Why I placed large quantity of maker order and then there must be another large quantity order queued on top of me?

Why Luno does allow robot trading used by users? Is this allowed by SC?
jack2
post Aug 18 2020, 11:23 AM

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QUOTE(!@#$%^ @ Aug 18 2020, 11:20 AM)
no need ask 1.
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Why? I remembered I asked many times here but this question was skipped.

I don't mind Luno itself practises to use robot to control price but definitely not for users to use it and control.
jack2
post Aug 19 2020, 07:47 AM

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QUOTE(mrluno @ Aug 18 2020, 11:56 AM)
Hi jack2, it seems that you keep forgetting that I've answered your question here: https://forum.lowyat.net/index.php?act=ST&f...post&p=96174228

user posted image

The SC has no restrictions against trading bots. In so far that an exchange has OPEN APIs ANYONE, including yourself can programme a trading bot and link it to exchanges that have these OPEN APIs.

Kraken, Poloniex, Liquid, Binance, Liquid and other international Exchanges all have OPEN APIs.

Thanks.
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Thanks for the clarification.

But one thing I must highlight here that it happened to me many times on this situation.

Current order book price:

Buy: 50800
Sell: 50999

I queued to sell at 50801 so I will be the maker at 50801 on next sell price and once I posted in just few seconds, end up that the trade became taker trade and I need to pay for taker fee.

It happened many times.


jack2
post Aug 19 2020, 10:00 AM

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QUOTE(mrluno @ Aug 19 2020, 09:48 AM)
Hi jack2,

You're welcome.

Well that's because it's an algorithm, it's a lot faster than a human, hence why people prefer using a trading bot, also because it's automated.

Thanks.
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I know that it is faster than human but it is not right that your platform is not fast enough to publish the queue on the spot on its changes by robot?

Then those "human" need to play kalah to robot and pay for taker fee?

Or in short, Luno is designed for robot trading and not for human being?
jack2
post Aug 21 2020, 11:38 AM

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QUOTE(markedestiny @ Aug 21 2020, 10:34 AM)
Where do we find a summary of unrealised P/L in the app?
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Luno is spot trading and not margin trading. No unrealised trading P/L.
jack2
post Aug 21 2020, 02:44 PM

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mrluno,

how to upgrade to highest level from level 3 to 4?
jack2
post Aug 26 2020, 10:32 AM

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My Luno ACC is now 0% fee on maker

Anyone wanna buy through me, can PM

This post has been edited by jack2: Aug 26 2020, 10:33 AM

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