The Promise of Luno Cryptocurrency Exchange
Timothy Stranex is identified alongside Marcus Swanepoel as the founders of Luno Exchange.
Since neither Stranex nor Swanepoel had previous experience with cryptocurrencies, it’s difficult to consider any companies as related to Luno, excepting the usual ones – that being the other crypto exchanges that make up its competition.
However, while in the case of other exchanges you’ll generally see they’ve both influenced and been influenced by other exchanges, that’s not quite the case with Luno:
Luno has been influenced by others, but its influence in the crypto market is also not obscure.
Just as before, Luno’s founders had no prior experience with cryptocurrencies – and even after Luno’s founding, they both have kept their focus on the exchange itself.
Due to this, there are very few things around Luno that could be considered another crypto project.
The two things that stand out are standard ones: Luno has its own crypto wallet, which helps any newcomers to the scene get set up, yet that at the same time is rarely a unique offering, considering most exchanges have either built-in or separate wallets.
The second one is also standard, although less common: Luno has an API that allows people to connect to the exchange and perform operations without necessarily using the website.
Operational spread and strength
While Luno’s main headquarters are located in London, the company also has offices in Cape Town and Singapore, giving them representation in the main areas the exchange serves – as Luno’s main markets are indeed Europe, Africa, and Asia.
Even with its three offices, Luno is a relatively small business, having only around a hundred employees spread through its three offices.
However, its userbase is hardly small, consisting of over two million customers spread through 40 countries – those being the only countries the exchange serves.
To use Luno, be ready to complete your KYC/AML checklist. Once this is done, you are ready to trade.
Another notable feature is that in territories where it operates, you can expect same day credit to your bank account when withdrawing crypto.
However, sometimes, a day or two delay might set in. Apart from this, you can expect a good experience.