remitano just double up their fee?

Hey guys, for someone who maybe wanna cash out some BTC to MYR, I've stumbled upon Remitano and Localbitcoins.

Now, I have some confusion about how all these trading works, I've read the FAQ but unsure if I got everything correct. Please correct me if I'm wrong, thanks!

I put BTC to escrow and wait for the buyer to transfer $ to my bank account. Once I confirmed that I've got the $, I'll release the BTC from escrow to the buyer. Is this as simple as I think it'll be?

Yes, just transfer your BTC to your LocalBitcoins Wallet, then when a trade is initiated, LocalBitcoins' system will automatically lock the specific amount of BTC in escrow, then the buyer may proceed to do a bank transfer to you, then once you confirm that you've received the payment, you may proceed to click "Release Escrow".

If you don't release, do keep in mind that the buyer has payment proof in which in the end - LocalBitcoins will still release the BTC to him/her.

So yea.. it's pretty secure for both buyer and seller.

Luno can now deposit? I tried to click deposit > MYR > Maybank and it is still showing the prevous MBB account.

After the news of Luno being investigated by LHDN. I've tried to get help from Luno but no replies all this while. I've just did a withdrawal from the app and hope that I will get my withdrawal to bank account soon.

Can anyone confirm we can withdraw from Luno?

Now can you start to unblock people that you have blocked on social media just because they were very critical of your silence over the past one month? No point talking how much you love your Malaysian customers when such faux pas exist in your PR. Come back to earth and be humble. Cheers

hi Kimberly, where will be the malaysia office located? 

Hi everyone,

Kimberly from Luno here.

I just wanted to clear up a couple of things. Firstly, I notice that there is some confusion as to why Bitcoin or Ethereum trades at a different rate on Luno’s exchange versus other exchanges worldwide. Please note that there is no global price for bitcoin or any other digital currency, and this is actually set by the users on the exchange. You can read more about that here: https://www.luno.com/blog/en/post/runaway-markets

Secondly, we are planning to open an office in Malaysia. We’re growing fast in the region, you can see the positions that are currently available here: https://www.luno.com/en/careers. We’re planning on adding more in the near future.

Lastly, please note we are working very hard to resolve the issue we are having with the banks. We love our Malaysian customers and are excited to get things moving again. Until this is resolved, you can still buy, sell, send and receive digital currencies as usual. Know that all your funds, local and digital currencies, remain safe at Luno. All other services remain unaffected. Keep and eye on our status page for the time being: luno.statuspage.io

If you have any issues, please contact support@luno.com and we will help you as soon as possible. We really appreciate your support and understanding during this time.

To the moon!
Best regards, Kimberly

What fee?

before this when i buy usdt, says 500, i get 495. now only 490.

Hi, thanks for your query.  While BNM has recently addressed regulation related to cryptocurrencies, including the release of reporting requirements that exchanges must adhere to, taxation is a separate issue.  Luno cannot comment or provide specific advice on the tax requirements applicable to customers in particular countries, but we do reiterate that all of our customers globally should make themselves aware of, and where necessary adhere to, their local tax laws. In case customers are unsure of their obligations, they should seek advice from a financial or tax adviser.

Hi Kimberly, it really means a lot to have someone from Luno reaching out to the people on the ground looking for news.

I have a question, since the Malaysian accounts are blocked at the moment, is it possible to withdraw my coins through a bank account in Singapore?

I don't think they allow you since their platform is for exchange of bitcoin among users and Luno is not the retail shop to buy or sell Luno to clients.

Thus, they are paying the funds to sellers from buyers'. Since the bank account is held by IRB, I dont think they will korek their own money to pay you.

Hi, thanks for your query.  While BNM has recently addressed regulation related to cryptocurrencies, including the release of reporting requirements that exchanges must adhere to, taxation is a separate issue.  Luno cannot comment or provide specific advice on the tax requirements applicable to customers in particular countries, but we do reiterate that all of our customers globally should make themselves aware of, and where necessary adhere to, their local tax laws. In case customers are unsure of their obligations, they should seek advice from a financial or tax adviser.

It is not very helpful at all!!

before this when i buy usdt, says 500, i get 495. now only 490.