Luno Malaysia, Your experience, reviews, thoughts
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 Dec 30 2021, 02:30 PM
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#1
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor  
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QUOTE(TheLegend27 @ Dec 30 2021, 01:57 PM) what wallet u use? for storing xrp. Xumm for software wallet. If using hardware wallet use xrptoolkit.com. Both can add trustlines to get various airdrops of tokens in XRP ledger. For long term XRP holders it'll be a waste not taking advantage of this. |
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Nov 25 2022, 12:31 AM
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#2
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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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 pretty sure there's quite a bunch here. just shoot the question. |
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Jan 9 2023, 10:17 PM
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#3
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(John Chaser @ Jan 9 2023, 11:37 AM) guess only your MYR fiat is guaranteed, not your cryptos.QUOTE(abdrahib @ Dec 21 2022, 10:32 AM) I dont think Luno will go bankrupt.They got branches in UK and South Afrika. good luck.I got RM when I sold my Btc within 2 days.I will buy again when price drop below 60k. I still believe Btc will go up the next price halfing. |
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Apr 15 2023, 01:35 AM
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#4
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(Davidtcf @ Apr 14 2023, 10:03 PM) I can't send my XRP from Luno to Nexo. Anyone can advise how to bypass this? It gave me this error. The address and tag I input is all correct. Wth? Previously I send to Nexo from Luno no issue, suddenly got this restriction? not familiar with this error but looks like easiest way would be to use an intermediary wallet. i.e. send to other approved exchange/hot wallet/cold wallet/etc then only send to nexo. honsiong liked this post
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Jun 10 2023, 11:00 PM
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#5
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(KronenZerg @ Jun 10 2023, 09:59 PM) oh .. i thought they are pretty stabil. Can you enligthen me more abt the cold wallet? Luno is an exchange, not recommended to keep your assets in an exchange unless you’re a day trader.actually, what is that .. is the first time i heard of it. Luno is not a cold wallet nor hot wallet unlike previously explained. Google on self custody wallet, cold wallet and hot wallet to get the right information. Michael_Lee liked this post
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Sep 14 2023, 11:22 PM
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#6
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(!@#$%^ @ Sep 13 2023, 07:47 PM) is it cheaper to buy directly from luno? example when you are buying from different exchanges, you are buying from different orderbooks. it depends on the liquidity (how much buy and sell order) of each exchange.1. myr to xrp to binance to ada 2. myr to ada (directly in luno) anyway, when comparing, don't forget to include the trading fee everytime you buy/sell and also withdrawing fee (transaction fee). !@#$%^ liked this post
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Nov 9 2024, 10:02 PM
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#7
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(ultrajack @ Nov 9 2024, 05:14 PM) Hi guys, 1. when you have bought BTC, it doesn't matter anymore which currency you've used to buy it in the first place.I have been using Luno to DCA and buy BTC. However I just realized that this means I'm buying BTC/MYR instead of BTC/USD. Please correct me if I'm wrong. BTC/MYR has surpassed the All time high but BTC/Myr has not. This means that I'm losing gains? This has made me consider to switch platform. Question: - How do I switch platform and transfer the money? If I sell everything on luno and buy the equivalent amount on another platform, will I be in the same position as currently? Also if you can help to recommend me some good platform to buy crypto in malaysia I would really appreciate it! Thanks alot in advance! 1 BTC bought from BTC/MYR is equivalent to 1 BTC bought from BTC/USD, BTC/EUR, BTC/JPY, etc. 2. every exchanges has different order books. i.e. different buy & sell orders in every exchange. BTC/MYR in Luno may not have reached ATH because nobody set a buy order higher than ATH in Luno. but in Binance it may have reached ATH because there's more buy order over there. 3. yes you can switch platforms, especially because of item 2 explained above. but think back how you're going to convert back to your preferred fiat currency later on. it may or may not be worth it. |
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Nov 23 2024, 01:04 AM
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#8
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(Syok Your Mom @ Nov 22 2024, 08:16 AM) Luno price in RM something wrong. The price not same with USD price. Because orderbook (supply/buy order) of every exchange is different. It depends on the liquidity that its users provide. |
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Jan 11 2025, 11:47 PM
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#9
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Senior Member
809 posts Joined: Mar 2006 From: Ann Arbor
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QUOTE(colmi @ Jan 10 2025, 11:29 PM) I believe all crypto exchanges do not record their buy/sell/trade transactions on the blockchain. You are correct. This is normal for most if not all exchanges.Only send and receive crypto transactions are recorded. Please correct me if I am wrong. QUOTE(socratesman @ Jan 10 2025, 09:59 PM) As a beginner, I feel worried upon learning this. What could be the negative consequences of not having it recorded on blockchain, if any? The answer is obvious. Something else to ponder, what happens if the exchange suddenly disappears/bankrupt/MIA/etc.? |
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