Use binance. If you want to liquidate your cryptos, recommend to use the P2P platform. At the moment, the P2P fees is 0%.

To put it simply.

I want to buy 1 Bitcoin

You have 1 Bitcoin to sell at RM6,969.

I say ok, I buy your 1 Bitcoin

You say ok, I reserve the 1 Bitcoin @ 69,69.

System locks your 1 Bitcoin until I directly make the bank payment to you.

I say ok, pay liao.

You see money inside your account, syiok liao can buy lolex.

You agree to release BTC to me. System transfers BTC to me.

Happy ending.

I also wanna move away from Luno

thought I could just easily send my cryptos from Luno's wallet to my Binance, but there's fee for this too and it's outrageously almost 50% of the amount I want to transfer.. jesus..

nah I was just trying to send RM100 worth of ETH first to my Binance that time.. Luno's fee was roughly RM56 for this.

it would be ridiculous if they charged a whopping 50% fee for every transaction, so what I think actually happen was they charge RM50ish fee for every transaction between platform's wallet (no matter how small the amount of transaction)..

so don't transfer small amounts then.. lulz

Luno has an exchange. You can use it to set limit order for buy/sell so when it hits that price and there's a buyer/seller, it will execute the trade. The fee is 0.25% for both maker and taker. You can also set post-only order so you don't have to pay taker fee. Meaning you only pay 0.25% fee.

IMO the only time anyone should use Luno's basic buy/sell is when you can use those RM25/RM50 free coupon etc. That's why they give those coupons. To promote the simple function. But that simple function comes at a cost and a way for them to make extra profits. After the coupon, exchange is a must.

I'm abit shocked that some of you did not know that there is an exchange in Luno.

In https://www.luno.com/, look for the word "Exchange" or "Trade (Don't know why in firefox is called Trade)".

In app, at the upper right, look for the 3 dots.