I tested sending some XRP from Binance to Luno.

Filled up the source wallet address from the XRP transaction display

Then entered "Binance" as the source exchange platform.

Absolutely no issues

Actually binance (favoured by our members) and all other regulated exchange do also asked these for AMLA/CTF time to time. They even ask for a transaction like half year ago.

best is use self-custody wallet if worried.



This post has been edited by lkloon123: May 14 2024, 12:59 PM

Strange. I have used Binance for years and made some large USDT deposits but I never receive those AMLA letters from them

is luno apps frequently asked you to verify/approve "trust this device"?

I been doing this for many times. But from time to time it still pop up inside the apps ask me to approve by clicking the sms link. I feel not so comfortable to click links from sms.

Is it normal for luno to keep asking "trust this device" again and again? I only used one device to login to luna apps

This post has been edited by BladeRider: May 15 2024, 10:32 AM

No, I have never received this "trust this device" notification from Luno app.

I am also using only one device to login.

You should bring this issue to Luno Support.

maybe its randomly spot check, answering the queries is troublesome especially when the compliance team is not trained to understand blockchain or technical stuff well.

Come to think of it, most probably you kena a random spot check by the Binance AMLA compliance team.

AML or any other verification should be ok, if you need a bridge from a DEFI to CEX and as long as not involved in any dodgy transactions. i think normal users won't worry too much about it.
This is ensuring compliance on LUNO part - as all other businesses that require license to operate in any jurisdiction, however my confidence actually grew with development on Luno, also access to exchange charts to trading view is so much better, a stark improvement if compared to chart in the earlier days.

The main concern to every crypto investors is the security (this doesn't apply only to LUNO platform), in times of crisis (of course not something i hope to see or happen - but in view of a worst case scenario), Example of hacks, breach, etc. - taking example of binance (return of investor fund from the security breach suffered) all these increases investor confidence and so.
However the platforms (both binance and Luno) has had it's share of running with the authorities and effect by other collapse in the crypto verse.

Besides all the worries, by far, LUNO seems resilient and have had continuous improvement in addition to many selection of cryptos. Actually one thing i wish they don't do is exemplary of other exchange that would list and load out on any shit coin onto their platform - by far Luno has only listed few of the to 10s.

So hopefully they'll keep improving and be safe.

This post has been edited by plastiCube: May 15 2024, 01:56 PM

I recently sent a small amount of Solana to Luno in the hope they may soon introduce SOL staking, just like what they implemented for ETH and ADA.

I'm waiting for bitcoin stacking

Bitcoin is a Proof-Of-Work (PoW) coin. You can mine BTC but cannot stake.

ETH, SOL and ADA are Proof-Of-Stake (PoS) coins. These can be staked

I see, I'm new to this. Thanks for the info

If your last fund deposit into luno acc was say 2 years back and you don't have copy of the history bank statement, will luno still insist us to provide the doc?

If you fail to provide the info or further verification, what will happened to the Luno account?

This post has been edited by wl_n: Jun 17 2024, 11:16 PM

Today BTCUSD macam gg... will continue for another week before rebound?

Friend, I'm sorry. I don't have the answers to your questions right now. But, I hope that someone else can answer your questions.

For your information, the screenshot you saw was not mine. It's from someone else. I didn't do any crypto transfer using Luno after the absurd rule appeared.

Not bad la lately using Luno alot since alternatives method to buy getting less

Any more updates about the Guy who lost 600k coins in luno ?

What's the story? Luno MY?

If I got the one you mean correctly, the court decided Luno no need to pay

It seems it is user's fault, exposed his access or device or something. I don't remember the details.

Yes, Luno MY.

This post has been edited by Natsukashii: Aug 1 2024, 10:40 AM

Initially the session court awarded the man won the case. Luno appealed to high court and high court made another decision.