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 Luno Malaysia, Your experience, reviews, thoughts

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spyrr
post Dec 30 2020, 07:58 AM

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Would Luno suspend or delist XRP? Some exchanges are already doing that.
spyrr
post Jan 23 2021, 07:08 PM

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QUOTE(LA757 @ Jan 23 2021, 06:58 PM)
I just invested in luno a few days ago when the price crash.

How can i check how much my investment in bitcoin is today if i sell?
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It's stated in your wallet.
spyrr
post Jan 31 2021, 10:30 AM

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QUOTE(Seng_Kiat @ Jan 31 2021, 10:15 AM)
Can I transfer from btc to xrp for example? Meaning buying xrp using btc instead of cash.
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No, crypto/crypto pair is not enabled.
spyrr
post Feb 22 2021, 05:46 PM

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QUOTE(SAVER @ Feb 22 2021, 05:26 PM)
Yes any Sifu can explain ? I curious oso. Frustrating using Luno chart to trade real time.
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Price is dictated by buyers and sellers. Different buyers/sellers, different trading pair, different volume. How can you compare pricing between exchanges?
spyrr
post Feb 27 2021, 03:52 PM

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QUOTE(Shang123 @ Feb 27 2021, 08:44 AM)
Is it me or are the coins' prices way higher in MYR than in USD?
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You're not wrong.
spyrr
post Apr 3 2021, 05:00 PM

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QUOTE(crecar @ Apr 3 2021, 04:47 PM)
Anyone who have problem using Luno, I suggest trying other DAX like Tokenize and Sinegy. I also have problem with Luno, cannot find Luno support email, so I register for Tokenize. So far no problem with Tokenize, I withdraw more than RM 10,000, take one day to reach my bank account. I haven't tried Sinegy so cannot comment.
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How's the trading volume over there? Last time I checked, much much lower compared to Luno.
spyrr
post Apr 22 2021, 12:21 AM

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QUOTE(lawrencesha @ Apr 21 2021, 09:43 PM)
Can I use Luno to transfer coins to other wallets like Exodus/TrustWallet?
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Yes you can.
spyrr
post May 10 2021, 05:23 PM

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QUOTE(Sherman Kong @ May 10 2021, 02:25 PM)
hi just wanna ask, is it to safe to keep my bitcoins just in luno?
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There's no one place truly safe to keep your bitcoin. What important is to understand what are the risks and weigh up the pros and cons.

Centralized exchange like Luno is custodial, meaning you give your bitcoin to them for safe keeping, you do not have the private key, your Bitcoins are not truly yours. If they are compromised, they might not able to give back your Bitcoin. This has happened even to the biggest crypto exchange in the world. You are also subjected to the local law and their terms of use. They can prevent access to your Bitcoin if you are "suspected" doing any malicious thing.

The upside is, it's easy to buy and sell, relatively low trading fee and there is a customer support to help you if you are facing problem with your account.
spyrr
post May 15 2021, 03:38 PM

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QUOTE(nick_linz @ May 14 2021, 04:52 PM)
I think not only that, LUNO's exchange rate is high too. Example: The ETH/MYR price = 17k, while you can get ETH/BUSD at 3.9k. This exchange rate used is 4.5+ which is higher than the market rate for USD/MYR. If I were to use Binance and after included all the costs such as credit card including bank fees for currency exchange + binance fees, I still get to buy more ETH than using LUNO for the same amount of money.

Agree?

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Edited exchange rate
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If your base currency is MYR and you are planning to cash out in MYR, I don't see much sense in doing this comparison. The most important thing is your sell price is higher than your buy price to make profit.

Yes, the ETH buying price in Luno is higher relative to MYR/USD exchange rate but remember, it means your selling price is also higher in Luno, which is great. Buying with USD in Binance means you have to consider MYR/USD fluctuations when you want to cash out. If you want to transfer your ETH to Luno to sell, you have to bear the high ETH transfer fee. So all things considered, you might end up having less monies with Binance vis-a-vis Luno when you cash out in MYR. I see merits in using Luno if you don't want to deal with all these things.

But of course, in terms of liquidity, number of coins listed and trading fee, Binance is much better.
Luno has the advantage of local regulation. Nobody knows where Binance HQ is located. But then again, maybe that's not a bad thing whistling.gif

As the saying goes: Tepuk dada, tanya selera.



 

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