Hi IntensiveBytes,

I understand the frustration but please let me explain the rationale behind how the crypto sends feature works for people who have never enabled it before.

We put the 24-hour cool down for enabling crypto sends in place as a security measure. Say for example that a customer was lackadaisical in securing his/her Luno account and a hacker manages to obtain the customer's email and password. Assuming the customer did not use 2FA (2-Factor Authentication), the hacker would be able to access the account and all the funds within that account; meaning to say they could easily send crypto out IF the crypto sends were already enabled. This failsafe is put in place by default to ensure that this does not occur to new users, since by default the crypto send feature is DISABLED. Hence it gives a customer 24-hours to realise in the scenario that their account is compromised.

We also advise customers who DO NOT send crypto out often to keep their sends DISABLED.

It depends on what you use your Luno wallet for, if you were to be looking for arbitrage opportunities then feel free to enable crypto sends and leave it enabled BUT ensure that you secure your Luno account, your email accounts and even social media accounts with (at least) 2FA. I secure my personal account with 2FA and always ensure that my email accounts and social media accounts are secure as well; while my crypto sends are ALWAYS enabled.

Thanks and do let me know if you need further clarification.

Hi TheLegend27,

Nope. Once it's enabled, it'll stay enabled (unless you disable it) and you can send crypto out to external wallets without an issue. Only caveat is the speed of the transfer depends on how congested the blockchain network you're transferring on, is.

Do let me know if you have any other questions.

Thanks!

Hi Spawnster,

Apologies for not seeing this earlier, do note that this forum lowyat thread is not an official support channel.

You may contact the support team via this URL: https://www.luno.com/help/en/tickets/new

If this issue is still persistent, and you haven't already, do log a support ticket above and we'll look into it for you.

It's likely that you have yet to fully provide us with some information that we require before we can fully verify your account.

Thanks a bunch!

Hi Malaysian Psycho,

Please log a support ticket here: https://www.luno.com/help/en/tickets/new

If you already have a support ticket, please send it to me via this thread or PM.

I'll look into it personally for you.

Thanks!

Hi svchia78,

May I know why you would like to find these details?

Thanks!

Hi dayamin,

We do have a DCA function, however it's only available on the instant buy/sell (meaning you'll be charged higher fees = 2% per transaction). The Exchange if of course cheaper, however it's a manual process because you will need to manually place orders for your buy/sells, hence no DCA method.

Do let me know if you have any questions!

Thanks.

Yeah, I did raise a ticket and just received a reply at 9.00 a.m. and for now I'm able to convert from BTC to MYR. I will let you know if I have any problem. Thanks.

This post has been edited by fruitie: Jan 5 2021, 10:47 AM

say i wanna send 0.005 btc, how much the fee usually? the transaction fee? no fee from luno?

To write my Last Will 😂

I know the NRIC should be enough, but more details for my executor/ executrix will help.

Hi TheLegend27,

The fee is dynamic, it isn't set based on the size of your transaction.

Feel free to read about how it works here:
1) https://www.coindesk.com/bitcoin-transaction-fees-hashrate
2) https://support.blockchain.com/hc/en-us/art...ransaction-fees

I typically use https://twitter.com/CoreFeeHelper as a rough guide

Luno does not earn anything, it is purely paid to the miners/validators on the blockchain and as well as our institutional grade crypto custodian (BitGo).

Thanks!

Ahh, I see.

Please send us a support ticket here https://www.luno.com/help/en/tickets/new and my colleagues will assist you with your query.

Thanks!

Which deposit method is faster fpx or bank transfer?

FPX is real time.

Thanks!

2 time i deposit, the time is within 1 hour will reflect.

I prefer to pay RM0.70 fee for FPX to get it credited instantly other than to wait 1 hour. Price can't be waited... huhu

Luno instant buy/sell still got charge? For example if current price is 1000,
instant buy price is 1000, or 1000+charges (if charge, how much?)
then sell price is 1000-charges

if want better price, need to go exchange?

Hi chonghe,

Yes, there is a charge. We show the charge to you on the order confirmation screen. It's typically 2% +-.

If you would like to save on fees, head on over to the Exchange and just place a market order. It's the same as using the instant buy/sell but we charge up to 0.5% per successfully filled order.

This is how you can navigate to the Luno Exchange:

For web browser users that are using the computer - our current exchange is available here: https://www.luno.com/trade/XBTMYR (BTC/MYR market)

For those using their smartphones: to enable this on the Luno app (Android and iOS), just follow these steps below:

- Open your Luno app
- Click the three vertical dots (Android) / horizontal dots (iOS) in the top right corner
- Click Exchange

The charges of the exchange are available here: https://www.luno.com/en/countries
(Attached the screenshot for your ease of reference)



Do let me know if you have any other questions.

Thanks!

Hi all,

I'm just wondering how we can improve the copywriting for FPX, it seems that customers still don't understand that FPX is really instant deposits.

Any suggestions?

Would appreciate your insights

Thanks!

Hi..just wondering how long does account verification take normally? I submitted on documents on Mon night.