There is no exchange MYR to USD, as all the exhanges is direct to MYR
BTC-MYR, ETH MYR, XRP-MYR ..etc

Rate in LUNO is US$1 = Rm4.12x
He asking about this lah !

If you are looking at the market charts, that is not the exchange rates. BTC/MYR is against local Malaysia market price and is not converted from BTC/USDC. If you take the 2 charts and compare, there is some co-relation but they are not exact conversion and there are some deviation. The BTC/MYR rates depends on what the local exchange is willing to set the BUY/SELL prices in LUNO Malaysia.

At times I check on the tying rates it's at RM4.16x, or few cents fluctuation.
Correct me if I am wrong.

It is around 4.23 atm

It will fluctuate by 2% due FX conversion so you be paying at 4.23

Meaning for every buy-in transaction, there will be this difference due to the exchanges?

Thansks for the heads up

If you have luno android app, at the home tab, upper right corner have three dots, click it and it will show the exchange to USD, compare it with MYR rate, and you will get the USD to MYR rate

How's your overall experience with LUNO so far?

This is what I noticed indeed

This should be the most accurate as it gets ... thanks!

This is what I noticed indeed

This should be the most accurate as it gets ... thanks!

At one time , ayam bz working for powder , no time play krypto. Just deal exclusively in LUNO and followed MYR charts all the way , was ok. Only when start looking at other exchanges in US$ then have to do the mental calculations

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

Hi everyone. Not sure if this is the place for this but Luno has RM300k monthly withdrawal limit. Had a chat with their support and they said currently there is no way to increase the limit.

If I used another exchange like Sinergy Malaysia, can I withdraw an additional Rm300k monthly from there? Or will Bank Negara come for my ass lol

wrong info.

Luno's exchange is determined by buyers and sellers. It is nothing related to banks or whatever charges.

if I'm not mistaken the limit is their own company policy only and nothing to do with any laws?

As jack2 said it is determined by demand and supply.

Volatility of the markets also play a role.


At times in May 2021 the rate was around 4.47.

but then 3 months ago when things were quiet it went below the actual exchange rate around 4.13.


Also check other exchanges like Tokenize Malaysia.

Right now ETH is cheaper in Tokenize Malaysia.

This post has been edited by zacknistelrooy: Nov 12 2021, 07:47 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

Just go convert Luno underlying and you know why got sucker paying 2% more in FX charges

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-bug

This post has been edited by sleepwalker: Nov 13 2021, 08:08 AM