A large number of our customers do not send cryptocurrency on a daily basis, and prefer to store cryptocurrency in their Luno wallet. In light of this approach, we’re excited to share with you this security feature, that gives you the ability to disable the sending of cryptocurrency out of your Luno wallet.

If you have recently signed up with Luno, you will initially have cryptocurrency sending disabled on your wallet until it is enabled in your Security settings, which you can find by tapping Profile from the Menu.

Why should I disable the option to send cryptocurrency?

You will have complete control over the cryptocurrency that gets sent out of your Luno wallet, mitigating the risk of losing money if your account ever gets compromised. If you have sending disabled, you will also have the ability to enable it should you want to send cryptocurrency.

As with transaction authorisation, you will be required to authorise enabling the option to send cryptocurrency from your device via push notification, SMS or phone call.

How do I disable sending cryptocurrency from my wallet?

1. Open the Luno app and sign-in

2. Tap Profile from the Menu, navigate to Security and select “Show all”

3. Select “Send cryptocurrency”

4. Select the Disable button

5. You will be prompted to confirm this step

6. Success! You’ve secured your cryptocurrency and will be presented with a confirmation that you have disabled sending cryptocurrency.

How do I enable sending cryptocurrency from my wallet?

1. Open the Luno app and sign-in

2. Tap Profile from the Menu, navigate to Security and select “Show all”

3. Select “Send cryptocurrency”

4. Select the Enable button

5. You will be prompted to enter your 4-digit number if using mobile and two-factor authentication code (if enabled) using web to proceed. 

6. Once confirmed, we will send you a push notification or SMS with a link that will take you to an authorisation screen where you can authorise or deny the change.

7. Success! You will now be presented with a screen to confirm that you have enabled sending cryptocurrency.

Frequently asked questions

Why is cryptocurrency sending going to be disabled on my account?

As part of our ongoing effort to protect our customers from phishing and other security-related threats, customers new to Luno will have sending cryptocurrency disabled on their wallet by default. We have also set this default for customers who have never sent cryptocurrency, and those who have not done so in the last 12 months. However, should you wish to enable sending, this can easily be done in the Security Centre, followed by a 24-hour waiting period before sending is enabled on your account.

I’m holding my cryptocurrency as an investment, does this affect my wallet?

No, the cryptocurrency in your wallet will continue to be safe, but we do recommend that you visit the Security Centre to disable sending cryptocurrency once we have fully launched.  

I’ve recently sent cryptocurrency out of my wallet, will sending be disabled now?

No, cryptocurrency send transactions will continue to remain enabled on your account. We advise that you do disable the option to send cryptocurrency after sending money out of your wallet. 

Will there always be a 24 hour waiting period?

No, if your account balance is zero then there is no threat to your cryptocurrency and therefore no waiting period will apply to enable the option to send cryptocurrency once we have fully launched.


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