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 Luno Malaysia, Your experience, reviews, thoughts

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dark_axl21
post Nov 22 2022, 03:39 PM

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QUOTE(Shanks747 @ Nov 22 2022, 03:37 PM)
Luno is bad ? Malaysia can access binance right ? So coinbase is safe or not ?
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Previously it was blocked.
But somehow weeks ago it appeared back on Google Play and was available for an update.
Did something change when CZ visited Malaysia?
tshihmin
post Nov 22 2022, 08:16 PM

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QUOTE(Shanks747 @ Nov 22 2022, 03:37 PM)
Luno is bad ? Malaysia can access binance right ? So coinbase is safe or not ?
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Luno is not bad. Securities Commission Malaysia is bad. Securities Commission Malaysia make Luno look bad by putting that ridiculous rules.

Yes, Malaysia can access Binance.

About Coinbase, I'm not sure. I didn't use Coinbase. I got plan to use Coinbase but Coinbase don't support Malaysia.
Shanks747
post Nov 22 2022, 08:35 PM

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QUOTE(tshihmin @ Nov 22 2022, 08:16 PM)
Luno is not bad. Securities Commission Malaysia is bad. Securities Commission Malaysia make Luno look bad by putting that ridiculous rules.

Yes, Malaysia can access Binance.

About Coinbase, I'm not sure. I didn't use Coinbase. I got plan to use Coinbase but Coinbase don't support Malaysia.
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Then why I cannot access Binance ? I think its ban in Malaysia last I heard....still cannot access it
tshihmin
post Nov 23 2022, 12:13 AM

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QUOTE(Shanks747 @ Nov 22 2022, 08:35 PM)
Then why I cannot access Binance ? I think its ban in Malaysia last I heard....still cannot access it
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Use this Binance link https://www.binance.me/en to access Binance.
Shanks747
post Nov 23 2022, 05:52 AM

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QUOTE(tshihmin @ Nov 23 2022, 12:13 AM)
Use this Binance link https://www.binance.me/en to access Binance.
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thanks
Shanks747
post Nov 23 2022, 05:53 AM

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Anyone here got extract cryto coins to cold wallet before ? external drive like a nano ledger
tshihmin
post Nov 23 2022, 10:29 AM

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QUOTE(Shanks747 @ Nov 23 2022, 05:52 AM)
thanks
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You're welcome.
NextDoorMan
post Nov 24 2022, 03:03 PM

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Any suggestion on platform for trading crypto, with low transaction fees and high safety?

tshihmin
post Nov 24 2022, 10:25 PM

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QUOTE(NextDoorMan @ Nov 24 2022, 03:03 PM)
Any suggestion on platform for trading crypto, with low transaction fees and high safety?
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If you want to buy and sell crypto, I highly recommend you Huobi P2P. It has no transaction fee and very safe.
AtMostFear
post Nov 25 2022, 12:31 AM

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QUOTE(Shanks747 @ Nov 23 2022, 05:53 AM)
Anyone here got extract cryto coins to cold wallet before ? external drive like a nano ledger
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pretty sure there's quite a bunch here. just shoot the question.
icemanfx
post Nov 29 2022, 10:56 PM

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The largest lender in crypto, Genesis Global Capital, engaged in the same kind of high-risk lending practices that have brought down similar firms, a Quartz investigation found.

Genesis abruptly halted operations last week, blaming crypto market declines and a crisis of confidence in the industry. It warned potential investors that it could face bankruptcy if it can’t raise more capital. The lender, which is owned by Digital Currency Group, an influential crypto conglomerate, said it had $2.8 billion worth of outstanding loans at the end of September (pdf).

https://qz.com/genesis-global-capital-unsec...oans-1849808185


Crypto trading firm Genesis, a renowned crypto lender listed among the world’s top lenders, is reportedly under the lens of regulators in Alabama and other U.S. states. The state securities department is undertaking a careful look at aspects that also concern the “interconnectedness of crypto firms.”

According to reports, the Alabama Securities Commission is looking into determining if the crypto firm has violated securities laws by failing to file the proper registrations. Genesis is pursuing a capital raise of at least $500 million to fill its funding gaps.

https://bitcoinist.com/genesis-under-scruti...ate-regulators/

jett138
post Dec 1 2022, 06:22 AM

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QUOTE(Ross_Luno_MY @ Nov 17 2022, 02:56 AM)
Hello

1. My reply was to someone who was asking regarding the Travel Rule regulation

2. But your reply is dealing with tranparency/blockchain/etc.
- This is not related to the Travel Rule regulation that my reply is addressing

Nevertheless I am happy to address some of your points

a) People who use properly regulated CeFi exchanges are not exposed. For example at Luno we strictly practice PDPA and hence all your personal information is kept private.
- This therefore ensures that you are not exposed.

b) Luno is not a blockchain or a Web3
- Often times people believe just because a platform offers crypto that automatically means it must be decentralised
- I can give you an example, pretty much everyone who accesses crypto must access it through an internet provider
- But internet providers are centralised right? On one hand the blockchain was indeed made to provide a trustless system, but in the end we often rely on centralised systems to allow us to access the blockchain easily

Luno is exactly like this, we are not a blockchain, we are a crypto exchange which allows people to buy/sell/trade in cryptocurrency safely.
We also allow people to buy & sell crypto directly into RM

Ringgit Malaysia is a centralised currency which comes from banks
In order for Luno to allow users to use their centralised currency to buy crypto we must be able to bridge the gap in between centralised and decentralised.

c) You said it's not hard to get "papers" for LHDN to come knocking
- Actually this is NOT TRUE
- You can google a recent case of Genting Highlands vs LHDN.
- LHDN asked Genting to give customer information BUT Genting Highlands refused
- Guess who won the case? = Genting!

It is a common misconception among people that LDHN can simply just ask for information and get it
I am happy to reassure you this is NOT the case.

Luno protects customer privacy and data  thumbup.gif

I hope my answers have provided more clarity to you regarding 2 things:
a) The role of Luno as a platform to allow people to get access to crypto, especially in the safest and fastest way possible with RM.
b) The fact that Luno strictly protects customer data privacy

If you have further questions I am always happy to answer  cool2.gif
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Thank your for your clarification on the points above.

what we are hoping for is actually running from the centralized system already in place. travel rule kinda bring everything back to where we are at.
Never the less thanks for bridging the gap and getting more onboard.
icemanfx
post Dec 4 2022, 02:50 AM

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Crypto broker Genesis and its parent company Digital Currency Group (DCG) owe customers of the Winklevoss twins' crypto exchange Gemini $900 million, the Financial Times reported on Saturday.

https://www.reuters.com/technology/crypto-e...-ft-2022-12-03/

This post has been edited by icemanfx: Dec 4 2022, 02:50 AM
GalaxyV
post Dec 8 2022, 03:46 AM

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So sad, Luno's price is lower than any (market rate with current exchange USD/MYR rate)
juan22
post Dec 16 2022, 02:37 AM

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Does anybody know what will happen to RM stored in Luno if they go bankrupt?
John Chaser
post Dec 16 2022, 09:42 AM

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QUOTE(juan22 @ Dec 16 2022, 02:37 AM)
Does anybody know what will happen to RM stored in Luno if they go bankrupt?
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Your investment gets burned.
juan22
post Dec 20 2022, 01:16 PM

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QUOTE(John Chaser @ Dec 16 2022, 09:42 AM)
Your investment gets burned.
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DCG filing for bankruptcy, you all not scared ah?
icemanfx
post Dec 20 2022, 04:09 PM

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QUOTE(juan22 @ Dec 20 2022, 01:16 PM)
DCG filing for bankruptcy, you all not scared ah?
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💍 ✋ 🚀

This post has been edited by icemanfx: Dec 20 2022, 05:29 PM
juan22
post Dec 20 2022, 05:32 PM

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QUOTE(icemanfx @ Dec 20 2022, 04:09 PM)
💍 ✋ 🚀
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wait until your withdrawal frozen and Luno file bankruptcy. diamond hands also cannot save u
icemanfx
post Dec 20 2022, 06:33 PM

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QUOTE(juan22 @ Dec 20 2022, 05:32 PM)
wait until your withdrawal frozen and Luno file bankruptcy. diamond hands also cannot save u
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Many of those lost money in crypto still believe in crypto will bring them fortune of the lifetime, won't give up hope and willing to buy more for 🚀🚀🚀🌙

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