To buy cryptocurrency with Luno you would first need to have verified your identity, a simple process to let us know it’s you who is using your Luno account.
Next, you will need to make a deposit. When you sign up for Luno you receive:
1. A local currency wallet (for example, a wallet that holds € if you’ve been verified to use Luno in the EU)
2. A cryptocurrency wallet that holds currencies such as Bitcoin.
Your deposit will be made to your local currency wallet, and once that money reflects you will be able to buy cryptocurrency with that balance. Once the cryptocurrency has been bought it will be stored securely in your cryptocurrency wallet.
This is the standard way to buy cryptocurrency with Luno. Learn more about making a deposit before you buy cryptocurrency.
If you already have a balance in your local currency wallet you will be able to immediately buy cryptocurrency by simply tapping on the amount you’d like to buy from the Home screen—or specifying your own amount—then following the steps to pay. You’ll instantly have cryptocurrency in your Luno wallet.
Alternatively, you can buy cryptocurrency directly with your credit card, debit card or with Google Pay. If you do not yet see the feature to instantly buy cryptocurrency using this method, please be patient as we are continually expanding to new regions.
Another way to buy cryptocurrency is by using the Luno Exchange, an advanced feature available only for Bitcoin and customers in South Africa, Malaysia, Nigeria, Indonesia and Zambia.
Using the Luno Exchange you are able to place limit orders. This allows you to select a price at which you want to buy your Bitcoin, and this order stays pending until the market (a Bitcoin seller in this case) reaches your price.
Read more about how to use the Luno Exchange to trade cryptocurrency.