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Luno Malaysia, Your experience, reviews, thoughts
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jack2
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 May 5 2021, 08:58 PM
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QUOTE(xTatsuya @ May 5 2021, 08:56 PM) The spread is causing the mismatch no? If it’s tag to USD rates + 2% it won’t have spread. No.. what I’m saying is it doesn’t follow the market price at all. For example Binance currently BTC/USDT is 55,558 while Luno BTC/MYR is 235,662. This comes to a MYR/USDT of 4.24. And this will fluctuate at all times.. I can see it going to 4.40 at times. that why people is just + gao gao to show his knowledge. |
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jack2
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May 6 2021, 09:52 PM
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QUOTE(majorarmstrong @ May 6 2021, 09:49 PM) today luno send me email about Bitcoin cash What is Bitcoin Cash? Bitcoin Cash is similar in design to Bitcoin in many ways. The key difference between them is that Bitcoin Cash has a maximum block size of 32MB compared to Bitcoin’s 1MB. Why do they have different block sizes? Bitcoin Cash was built this way because, theoretically, it was thought that doing so would allow transactions to be processed faster. Should you buy it? Bitcoin Cash may have faster transaction times, but there are trade-offs that mean many are sceptical – particularly in regard to security. You can find out more about Bitcoin Cash here. Which side do you fall on? If you agree with Bitcoin Cash’s supporters, maybe it’s worth checking out? yes, bitcoin cash is faster and cheaper too. |
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jack2
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May 18 2021, 12:36 PM
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QUOTE(kimmyrulez @ May 18 2021, 12:19 PM) Hey guys, Wanted to share my overview on some Luno vs Binance overview in terms of functionalities, resources, and offerings https://youtu.be/tsLjqG4irXULet me know what you guys think  I watched 1 min and closed.  |
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jack2
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Jun 22 2021, 12:05 PM
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this bear market will last 5 months... so this 5 months we all eat grass
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jack2
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Jun 22 2021, 12:13 PM
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QUOTE(MrBaba @ Jun 22 2021, 12:07 PM) How u know it's 5 month ? past experience |
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jack2
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Jun 23 2021, 02:57 PM
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QUOTE(sendomike @ Jun 22 2021, 05:03 PM) luno's price seems to be a bit high. i checked luno and kraken, there's a usd 13 difference between bitcoin prices. any idea why? You didn't do research. Better you buy from Kraken and get the effective final cost. Then you will know the reason. |
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jack2
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Aug 8 2021, 07:04 PM
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QUOTE(underscore_lee @ Aug 8 2021, 02:52 PM) Anyone using the Luno Labs function to check your total profit/loss? I tried on my phone but still shows $0.00  My friends one all show correctly. where it is? |
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jack2
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Sep 18 2021, 06:39 PM
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QUOTE(RectangleX @ Sep 18 2021, 05:58 PM) All your coins transferred from Binance into LUNO could get confiscated. SC TAKES ENFORCEMENT ACTIONS ON BINANCE FOR ILLEGALLY OPERATING IN MALAYSIA https://www.sc.com.my/resources/media/media...ing-in-malaysiaThis is old news. |
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jack2
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Nov 12 2021, 12:18 PM
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QUOTE(xander83 @ Nov 12 2021, 04:05 AM) Definitely will have minimum 2% as it is charged by the banks so no choice to cough it up to buy in Luno Nothing do with the exchange but Luno banks charges them which the6 passed on to the users  wrong info. Luno's exchange is determined by buyers and sellers. It is nothing related to banks or whatever charges. |
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jack2
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Nov 12 2021, 11:55 PM
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QUOTE(xander83 @ Nov 12 2021, 10:30 PM) Nothing to do with demand and supply when the fluctuations is due to bank charges to Luno When RM drop today by 0.5% currently Luno it is charging rm4.26 from 4.23 so it is factored in when buying in Luno damn... you still do not understand the whole scenario and I don't know what is so called bank charges? Luno is not determined by bank charges? what is bank charges? bank fee? bank transfer fee? cheque fee? forex exchange rate lah.. bank charges pula it is not determined by any forex exchange rate!!!! It is truly by demand and supply i.e. willing buyer, willing seller basic.... This post has been edited by jack2: Nov 12 2021, 11:56 PM |
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jack2
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Nov 13 2021, 09:20 AM
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QUOTE(sleepwalker @ Nov 13 2021, 08:04 AM) You still don't get it. You are not buying/selling spot prices with LUNO. You are buying against seller in LUNO's exchange in MYR. The LUNO exchange is where everyone sets their buy/sell price just like Stock Exchange. That is why it is called an Exchange. You are confusing with buying/selling FOREX where you deal directly with the broker and not another person who is also buying/selling. Just look at LUNO's exchange and on the right column you can see the Order Book. Those are the prices and quantity that people are offering to buy and sell in LUNO exchange in MYR. There is no exchange rate to BTC. Go and read the article below on Binance own Exchange where BTC price plunged 87% to USD 8k on Oct21 but you don't see actual SPOT price of BTC making this move. It all happened within Binance's own Exchange. This is how LUNO's exchange operates too. https://www.straitstimes.com/business/banki...o-algorithm-bugThis topic or discussion has been discussed and answered many times and still wanna argue it is on bank charges... KNS |
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jack2
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Nov 13 2021, 11:43 PM
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QUOTE(!@#$%^ @ Nov 13 2021, 12:05 PM) haha he face palm himself too much until got brain damage Think too much and complicated the simple thing. Demand and supply - like share market in KLSE, buyers and sellers are queuing in the order book. Buyers - either buy directly from first available seller or queue. sellers -. Either sell directly to first available buyer or queue. Don't tell me the KLSE marks up the price like % in the exchange to buyers or sellers.. |
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jack2
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Dec 8 2021, 12:41 AM
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QUOTE(GymBoi @ Dec 7 2021, 11:58 PM) Nice .... Anyone tried to send btc out of Luno? It says dynamic charge but roughly how many % is that? Any idea? Do they have any exceptions for transferring to hardware wallet? Feels weird need to pay when just trying to secure the coins huhu Luno sending fee for BTC is the cheapest in the market. Just few RM3-5.... Unlike binance, eat you 0.0005 which is RM 110 if current BTC is priced at 220k |
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jack2
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Jan 4 2022, 03:11 PM
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QUOTE(BboyDora @ Jan 4 2022, 09:17 AM) hi all, Luno had replied me and they request the documents as follow 1. EDD form 2. 3 months bank statement 3. Explaination where the funds coming from 4. Proof of source of income, such as salary payslip, rental agreement etc etc is it normal? feel like taking a bank loan for house. They need to adhere to AML |
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jack2
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Jan 20 2022, 11:44 AM
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QUOTE(Giant @ Jan 20 2022, 11:25 AM) hi does anyone know how to buy USDC and use saving wallet for interest in luno malaysia? Luno Malaysia has yet to offer saving interest feature. |
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jack2
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Jan 20 2022, 01:06 PM
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QUOTE(Giant @ Jan 20 2022, 12:59 PM) thanks for the info, any great place for usdc with saving interest to introduce for malaysian , except biance.... A lot. PM me |
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jack2
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Jan 22 2022, 08:51 PM
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Luno earns over RM160k daily in its commission
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jack2
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Jan 31 2022, 12:22 AM
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QUOTE(zeilouz @ Jan 31 2022, 12:15 AM) Hi guys - for luno, is there a limit how much eth/btc u can sell instantly? For example if i were to sell 100 eth instantly to luno, does that work or it is limited to a certain amount? It costs 2% if using Instant. Why don't sell at exchange hut you need to wait buyers to take up or you can throw. |
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jack2
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Jan 31 2022, 01:04 AM
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QUOTE(zeilouz @ Jan 31 2022, 12:30 AM) Yup - at times i do sell at the market too, but was wondering if i were to sell 50-100 eth instantly, can the myr liquidity support? You try and see. But you will kena one thing.. |
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jack2
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Feb 1 2022, 01:27 AM
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QUOTE(zeilouz @ Feb 1 2022, 01:22 AM) Great post! Wasnt aware there were such liquidity in the market recently. Thanks for this! Have you upgraded to highest level with luno to lift the withdrawal limit of 300k per month? |
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