Luno Bitcoin Exchange Review

Luno is most defiantly a scam. PLEASE do your research, they will respond to these comments and say the complaints are not true but I will gladly supply documents to show they have stolen a whole lot of user’s funds. They recently stole 1300 from me and I am working on different options to try to recover my funds. I am also on working on a website I will be putting to help people like me that have been a victim of this company’s scams. There are a lot of posts on the internet where people have deposited their money and Luno locks them out of their account and keeps their money. That is what they did to me October 13th 2022 and in just a few short days I have talked with 78 people that had virtually the same experience I did,

I purchased 1300 dollars in bitcoin and sent it to my personal wallet, however it never arrived and when I contacted Luno they said they needed to verify my identity again. After days of sending pictures, videos and messages they send me message saying my account will be closed. They will not return my 1300 and will not answer my messages or emails. I get no responses from them. But they will find my reviews and leave comments saying it is not true. Like I said I will produce documents to show it is most defiantly true. Soon I hope to have website up where people can post their proof also, DO YOURSELF A FAVOR AND STAY FAR AWAY FROM THESE THIEVES….

Luno.com is absolutely a SCAM. First time i was trying to invest with them. after i sent 4500 EUR i received an email that i should provide more information to them about my ID. Of course that i did and still i has been 10 days with no answer. they dont reply to my mail and they just close my tickets without explanation. Also they blocked the WITHDRAW and i cannot get back my OWN money. DON’T USE THIS EXHCANGE

they fees has incredibility high just for sending 0.00025 they charge me R126.00 for just R30.00 and they say it is dynamic fee i suggest using other wallet.

Yes, instant-luno.com is the biggest scam I’ve ever seen. 😡😡 they don’t pay out!

We just lost all our bitcoun on Luno. The are no contract details or any option fot recoirse.

As far as I can see it’s a total scam.

Hello
Can you check instant-luno.com
If it is a scam?
I think they ar, because you have to register other people to payout your win. 😩😢

Luno-pay .com is ur company too?

Hello,
Please kindly take my review as a high priority.
Firstly,i think your service in terms of security of accounts/funds is very good,really good.
Your KYL and other verifications before an account could be upgraded to level 2 or level 3 is also very good,really good.

All these said,i think once an account has been verified and all is good,and a customer sends money from his/her bank account to his/her account on luno (with both bank account and luno profile showing the same person as the owner,hence not a third party),then a customer can have a smooth usage of your service considering the nature of the rapid change of bitcoin prices,considering bank payments to have gone through some verification by the banks before finally getting to luno,most bank payments have a 2FA-like features which it is so hard for a third party or hacker to possess. And even if there would be an issue,i believe this issue should be solved by your team within few hours of the same day. I think this should be highly taken into consideration because of the losses it can amount to,due to bitcoin’s volatility.

And if after-all you think something is fishy,you should contact the customer for further details or you should make a refund back to the funding account with adequate email/phone notifications to the registered email/phone. These two steps should be taken before the customer could decide to convert the fiat money to cryptocurrency. Once the conversion has taken place,i think the customer has the right and privilege to use his/her cryptocurrency as desired. You already have a KYL about this customer,so why delaying his trade and making him/her losing money while you are making money.

My personal issue for writing this review is because since friday 1/march/2019,i made a payment from my bank account using SEPA payment,i received this payment on my luno account the same day. After a little while,i tried to buy bitcoin with this fund and then send the bitcoin to my other wallets where i hold the backup phrase keys,considering the recent hack from luno-like exchanges,cryptopia.co.nz ,This is why it is always advisable to have your bitcoin in a wallet you control the backup phrase keys. Back to my ordeal,since friday and till now,the bitcoin transfer from luno to my other wallet shows “pending” . I thought maybe because i didnt make the transfer during business hours,so i decided to wait till monday morning. And after the friday SEPA transfer,i had made some money transfer from my bank account to luno account with the knowledge that the money will be shown in my luno account by monday so that i can buy bitcoins and ethereum. On monday,the whole batches of my SEPA transfers came into my luno wallet. And then after,i converted them to bitcoin,then after i tried to move my bitcoin to my desired wallets. Today is Wednesday,all my bitcoin transfers are still showing “pending”
However,i contacted their support via chat and emails because luno cant be reached by phone except they call you. So on tuesday,a mail was sent to me to ”
Your identity document.
A handwritten note with today’s date and ‘For Luno Use Only’. ”

I did that and sent it to them,very clear and readable !
And they also stated that if all is good then they will send my bitcoin to my desired addresses,or maybe place a fone call to me,which i expected to do but they didnt call ,neither was any email sent to me.
This was on tueday !!

I didnt hear from them,not even an email for acknowledging that they have received the documents/photos,or email notification to communicate to you if the photo was acceptable or not,or maybe a further (simple or complex) step is required. Please note,some exchange do complain of photos/documents sent to them not being too clear enough,so i always make sure i sent a very clear document/photo with high resolutions so that when you zoom it then you would see clearly every little information. But honestly,you guys please dont compare the camera qualities of a phone to a professional digital-camera,moreover 99.9% of customers use their phone camera to snap these documents/photos. So a high consideration should be considered as regards to the general populace usage.

On wednesday,i didnt hear from them, then i sent another required photo to them again showing the current date which is wednesday and not the previous (tuesday).

Still,no respond from them,not even an automated email to acknowledge the received mail,i think this is really bad for a company like luno who is charged with the responsibilities of our funds and our personal data.

Later that same day which is today wednesday,i decided to login into my luno account, to my dismay my account shows that it has been temporarily suspended. Why would you do such a thing without any notification of any sort? This is really very ridiculous !!

Immediately,i contacted one of their agents on their chatting platform,his name is mihail. Mihail approach was so good and concise,i told him everything,then he saw that i already contacted them and that i was already assigned a ticket,he read this ticket and he told me they are working on it and that i would have to wait between 2 business day for a resolution (another 2 days? ). My issue with luno is firstly,they are not fully communicative and secondly,they are not timely !! And these two factors are not good for a cryptocurrency dealing considering the high volatility of bitcoin and also the case of a hacker taking down your account,luno’s late or slow response could make things so tensed for you.

For clarity,my ticket ID is: #604732 and i have more than 2.0 BTC “pending” on luno. Already i have lost some money in the conversion and also in luno’s charges and fees. Will i keep loosing considering i am not being able to trade when i should have ?

Please put yourself in my situation. This is so sadden.
In conclusion,i think luno is good in terms of security of accounts/funds,they are very good,really good because they have a 2FA password feature. I will look forward to see luno adding a backup seed to their wallets,i dont know how this is possible,or not.

But what i’m really looking forward to is to be in possession of my bitcoin.
Please i want all the team leaders/departments in luno to read this,this could/should be a wake-up call for them so that they can improve their services.

Regards.

Hi. I live in Johannesburg south Africa. Im interested in bitcoin but don’t know how and where to start. Will the system generate money fore automatically if i buy the bitcoin as I do not have any idea on how to run it

Luno is a scam don’t use it. No customer service, no fraud department, no investigations. They owe me money that I’m trying to recover in other ways because they are scammers. Don’t use it keep your money safe. Luno is not safe at all. I was scammed on their app. Never again and I’m already spreading the word as far and wide as possible. Appalling

My wife opened up an account a few months back. It started well. No complaints untill a few weeks back when 0.03 btc simply ‘vsnished’. I had sended her the btc into her account. After more then 700 confirmations her account only showed ‘pending’. She resides in the USA I in Europe but I will join her in a few weeks.

Because of this I opened an account as well. Leveled it up. Made a transfer so far so good until I asked helpdesk where the so called ‘pending’ transaction was. I was a lucky customer I received a reply. My wife was unlucky her account became ‘suspicious’.

Ater several contacts and repeated sending the transaction ID I received word she finally had received the btc. While I read the message she called me upset and in any state. Luno had blocked her account! I inmediate sended a message and received a call. If I was aware that my wife is a Nigerian Scammer trading in Nigeria in Lagos!!!!!!!

I can asure you that the USA is not even near Nigeria!. I had to answer several Questions and send in proof which I dit. But instead of answering any question they just blocked my account as well. No notice, no message. The phonenumber is blocked and the btc? Well gone.

After doing a short google search I noticed the number of bad reviews and scam notifications increased intensly over a period of 6 weeks.

My conclussion? Its a scam stay away from it

We are happy to announce we start our Investment Campaign to public users.

Now you can invest with Luno Corporation and grow your coin portfolio.

Luno will apply your investment in bitcoin and ethereum mining equipments and chips, and in our BTC-ETH Wallet structure. Our shares will pay 27% profit in your Ethereum investment base each Monday at 12:00 GMT, for 4 months.

To Signup as a Luno Investor please visit our Investment page here: luno-invest.com

I have only had really good service from Luno. It is my preferred platform for BTC trading.

I have deposited a few times, and also withdrew money. I have not had any problems with Capitec Bank South Africa yet, and I am entirely satisfied with Luno.

The nice thing is when you give your code as a refferal to someone and as soon as they have traded more than R500 they recieve R10 free bitcoin.

My referral code: ZVJRD

Feel free to use it any time.

Selling BTC at liviacoins is easy and reliable.

I like the Luno exchange – it’s easy to use and I have had no issues with transactions thus far. Recently when BTC took a nose dive, the robustness of the exchange was tested but it held up reasonably well.
I would like to see more features added to the graphical displays like is available on Bitstamp, Coinbase etc. but I guess that these features must be on the cards for implementation in 2018 as the site is growing.
Also – Luno please review your taker fees structure in line with current BTC pricing. Do that and this site will grow exponentially.
About the ‘premium’ on this site, this ‘premium’ exists on both sides of the equation. One might buy at a higher price but one also sells at a same premium.
**** 4 stars for you.

Dear Luno,

i am having trouble withdrawing money to my Malaysia maybank account since mid of December , there is a alert saying you guys a facing a trouble for withdrawal and deposit from maybank , but i have tried withdrawing to another bank in Malaysia such as CIMB or HSBC also there deposit keep pending for almost 10 days now , i wanted to know the way forward on this , the last update from luno team was on 28th dec 2017 , since then there is no updates on the page about the withdrawal issue , and i have seen there the response from ticket is a automated response , with a such profile company operating in many counties i don’t expect such a low follow up on a issue that put the customer nerve on a knife , its a about money issue , pls guys , wake up and make a response , you guys having bunch of people and your salary is been payed from customer transaction , but when we need in your service , you guys are neglecting , what going on ?? I need know the updates on my withdrawal money

Luno is scammer. I never received my money back. Keep pending.

Interestingly my Mum deposited money into her account in early December and it still doesn’t show as a deposit yet twenty ish days on, I however deposited money and missed the correct ref number but alerted them to this and it was picked up and it reflected as a deposit, maybe it was a five day wait, but Mum has raised three support tickets and had nothing back for a response.

Trying to withdraw my money from my luno account in Malaysia. Been few days, all I get is standard response of technical problem. What I don’t understand is I don’t have problem depositing money into anybody’s bank account.

Totally scam, just know to auto resolve your case and ask u wait and wait. So you need to reque again and again. Case can’t settle eventhough a month already. Scam! Scam! Scam!

I would agree with many people that it’s the biggest scam company. I have sent deposit of ££500 from my bank account to my UK account. It’s been 9 days now, funds gone from my account but nothing shows up in my Luno wallet. Raised 2 tickets so far, not a single reply. A total scam, would suggest people to avoid this exchange.

Hi friends please don’t deposit i deposit 22/12/2017 but I’m still waiting I don’t receive anything and I send mail also not reply me please finds don’t deposit otherwise you lose your money
It’s fake

Dear luno.
It’s been 3 weeks now that I have deposited money into your guys account and it is not reflecting as yet.. I did check the waiting period on luno and it said 48 hours. I tried again to deposit money on Thursday and till today still nothing. I also have a ticket # 326477.
Your assistance would be highly appreciated

Hi there,

This message is intended for any prospective South African investor interested in purchasing Bitcoin and/or Ethereum through Luno – our local cryptocurrency exchange. If you are still condisering use this service, I implore you to seriously reconsider.

This is a highly unethical company – and that’s to say the least. There are three main issues with this business, namely:

1) Dubious Price Setting

Luno sells Ethereum and Bitcoin at a 20% markup compared to most global cryptocurrency exchanges. They are absuing their position as the only South African exchange to charge people far more than what they should. What this means is that when you purchase currencies through this platform you are paying considerably more for the coin that what an investor in the US, UK and Europe would pay. From the moment you purchase through their exchange you have lost money as you paid more than what the going rate actually is for the currency. To make matters worse, the price hike only seems to apply to purchases made, however, when you sell off your holdings for FIAT then miraculously your coins seem to depreciate in value to the globally accepted norm – which means you’re selling for the going rate. Luno has published two articles which refer to local supply and demand in this respect, however, it would be wise to treat these articles with circumspection. Obviosuly the people lining their pockets by charging 20% more than what they should will say something to substantite their actions, so they can keep doing it.

2) Terrible. Non-existent customer Support.

This company has no contact details. There are no landline numbers or physical addresses listed on their website or any other web address for that reason. The only contact you could have with this business is through this email address support@luno.com. If you ae able to get a response with regard to any query you might have then count yourself luky. Personally I have sent this email 5 qeury mails in the past, to which I received no reply. This company has taken every measure to ensure that you are unable to contact it. It leaves all customers that are able to discern what is really going on with the inablity to get hold of anyone. I have tried to find out what the founder and CEO’s contact details are so I can have my lawyer deliver a legal letter to him, however, as expected the company was not forthcoming with any details. These actions are in total breach of the consumer protection act, but not to be unexpected from a group of people that have something to hide and dont want to come out.

3) They are thieves

This company will flat out steal from you. To put you in the picture, I set up a recurring payment from my bank account to Lunos accountevery Friday afternoon sothat I could automate my investments. It was working smoothely until I found out how much they hiked their prices by when i compared the price i was paying for a coin to numerous other exchanges. I subsequently sent the aformentioned legal mail to support@luno.com but recived no response. However, I forgot to cancel my weekly scheduled payment to Luno. The Friday morning following that mail my payment was deducted from my checking account and subsequenlty transferred to Lunos account(this is instant because we both bank with FNB) and I received my normal sms. Lo and Behold that money never reached my Luno wallet, although they took my money they felt no need to allocate it to my account – that money has still not been allocated to my account to this day and has not been returened to my account. I can’t speak for everyone but in my books that is theft.

There are numerous other issues with this company, but those are the three most notable ones I would other inquisitive investors to be aware of. Please do not consider this exchange, you will truly be doing yourself a disservice. Furthmore, you will allow this unethical company filled with immoral people to grow bigger without consequence.

If you want to begin investing in the digital economy then i could suggest the follwoing global sites that will allow you to purchase and hold Bitcoin and Ethereum using your credit or debit card:

Spectrocoin
Coinmama
Localbitcoins

These are all reputable exchanges that you will be able to find with a quick Google. Some of their fees can be slightly high, however, you can rest assured your’re dealing with an ethical company and purchasing your coins at an acceptable rate.

That’s my 2 cents on Luno. I believe it is just a matter of time before you hear about them in the news for finacial misconduct and consumer abuse. If you do decide to use this company then be prepared to be financially exploitated, receive poor service and if you’re lucky, have your money stolen as well.

Best of luck with your endeavours. Oh, and if anyone from Luno is reading this, how does it feel good to be a criminal? Let me know, would be nice to hear from you. You’ve got my customer support tickets.

Hi Luno team. Having a problem signing into luno. This has never happened before. I signed in around 3 times, one after the other and now it says ‘maximum verification code attempts exceeded’ and it won’t allow me to sign on. Please help. How do I retrieve my money or check current Bitcoin now?

Good day LUNO. A certain amount of bitcoins was transferred to my bitcoin address earlier today. However it’s still showing PENDING on the sending wallet account. Without so much as a notification on my own account. I’ve sent an email with reference number 328507. No response yet. Kindly resolve this issue ASAP. I find it disconcerting. And improve your customer service. Sometimes we want quick response and someone to talk to from your end. Thank you.

Newbie here
UI is clean, lvl 1 verification doesn’t require photo, only ID no. and exp. date,

feel free to use my code: [removed]

Hi Luno Team. Kindly note i’m seeking your urgent assistance to look into my ticket reference #311449. Its been almost 2 weeks since I deposited the money into my account but its still not reflecting. I never encountered this problem the fist time I used your platform, its great platform but just try to improve your customer service.

Hello Luno team, seeking your urgent attention to look into my ticket reference #293951. It has been almost 2 weeks since I deposited the money to my Luno account but it is still not reflective yet. At the same time, my account is still under review for about 2 weeks, exceeded the promised timeline

Dear Luno,

I have sent my 0.5 BTC at 11pm GMT+8 yesterday and the status now is still PENDING (after more than 12 hours). I have open ticket #309377 but received no feedback at all. Please help to check on my issue and revert soonest possible. This is very worrying.

Not sure is it scam or not but I withdraw money to my local bank from 7 December until now not yet been reflected yet. I open ticket at help center #290546 on December 8 no single reply and it auto make as resolve on 14 December. Also also ticket number #301073 also no single reply. While my few thunsand ringgits money just gone like that. I feel like I am being cheated. I don’t know any other of you guys got the same issue like me?

I’ve been using Luno for a couple of months now and it’s worked brilliantly for me. I’ve bought Bitcoin and Ethereum instantly and through their exchange platform; paid someone in bitcoin; sold bitcoin on the exchange and had the money transferred back into my bank account in less that 24 hours.
In conclusion, i find the platform super easy to use. I’ve had no issues and I’ve learnt a lot through their step-by-step instructions.
It was the easiest way for me to enter the cryptocurrency market. At the same time of joining luno- I also tried to register on the other recommended South African platform and that wasn’t a smooth process for me at all!
I’m completely satisfied with my luno experience.

Transferred money to luno direct bank transfer two weeks ago Bitcoin still not in my wallet and had zero reply from two emails and a ticket I opened with them. Awful customer service and long transfer times of Bitcoin. Seems like they are holding money and not giving people the bitcoins.

Hi Luno,
money still not transfer in my account.
i have raise another ticket #281113
for the issue, please help me too…
thanks you luno support!

Hi am not happy with Luno I withdraw money from my wallet the it did not go to my bank account the back said they can not see nothing . Am from South africa and my Email Is Kingmusa 5(at)gmail.com

It seems that there is a minimum to sell/send bitcoins with luno. I tried Lino for a few days and now I will send bitcoin to another wallet but thuis is moet possible.
Sometimes he asks to deposit money before send OR sell. Why?

hey luno..im cant do anything with my wallet..cant sell or buy eth n btc..already submit ticket to your support..but no feedback at all..

danny
Luno Account Compromised
I opened an account with Luno last month and all was well.
However, this morning I received an email from Luno (7:55am Malaysia time) stating that “You have created an API key linked to your Luno account”
But I did not create this API and this is the first time I heard of API.
Then at 7:56am, I received an email from Luno that I had transferred all my BTC to another address and at 8:01am I received another email from Luno that I had transferred somemore BTC (apparently cash available in my wallet is used to purchase BTC and transferred out).
I sent a report to support@luno.com as I cannot find a Luno telephone number to call to.
I considered this as SERIOUS but support@luno.com replied that it may take upto 4 working days to respond to my message and assign a Ticket Reference Number to me (#280372).
QUESTION :
1)Why was an API created and linked to my Luno account without my knowledge?
2)I have “two-factor authentication” enabled and how come my account can be compromised?
3)Should I file a Police Report with my local Police station?

Any advice you you can give is most appreciated.
Thank you
danny

my transaction is pending transaction more than 12 hours. what is going on this trading platform??

Absolute nightmare do deal with. Initiated a withdrawal last week and it still haven’t arrived in my account. Support ticket not replied. Basically after they received your money they just forgets about you. Replying is slow, no live support, no phone number to dial. Imagine this, you have withdrawal 10K RM worth of bitcoin and it did not arrive in your bank and you have no means of contacting Luno.com leaving you with sleepless nights. So do yourself a favour. AVOID THEM AT ALL COST AND SPARE YOUR SLEEP!!!

Have no problem with them. received deposit quickly and verification was made on the weekend. recommend.

Hi Luno,
money still not transfer in my account.
i have raise another ticket #268580
for the issue, please help me too…
thanks you luno support!

Hi Luno,

I have been waiting for my deposit over 7 days ago, and my old ticket #258015 has been close without any update and response!! Isn’t got any problem on your side support team? And right now i have raise another new ticket #267689 for the issue, please help me to take a look thanks you luno support!

I think Luno is 100% scam. Make a withdraw for a week until now but my money still not transfer in my account.

I was linked to a guy here on luno after being scammed twice by all these sites . He sold his coins for me at a discount and today all my friends now buy coins from him via [email removed]

I sent 0.98 ETH from Luno wallet to another wallet funds bought from Luno. Its been 7 hrs waiting and transaction pending in Luno and tx is not even in etherscan yet. Cant even have an instant ETH transfer? Common what needs to be pending for ETH transfers? Ticket #261530

Hi Luno, so far I am, but it’s becoming very difficult to stay patient if another company is sitting with your money. Support #254301

Hi Luno,

I made a deposit of RM7000, until now the deposit never arrive at my luno wallet… deposit was done on 18th Nov,

There is support ticket open but there is totally no response from luno team! Feel so insecure as there is no response from luno. Already pass the time limit as mention in help section.. totally no live chat or call for contact

Support ticket is: #253236

Thanks,
Ash

I have tried to withdraw my money since last week. Including today, it has been 4 failed withdrawal with fees charge every 4 transaction. Have submitted my report with ticket number #250494 . Waiting for Luno’s reply? Take ages!

Was planning to give another 2 days for them to solve this then I want to go make a police report if not solve. Is Luno a scam?

Frustrated User

I have transferred RM500 since 11th Nov 2017, and it has not been reflected in my wallet until today!
I have submitted my first ticket on the 15th of Nov #247448 and second ticket today and have not gotten a reply from your support staff either.

I am deeply disappointed in your services.

I have deposited rm500 on the 17/11/2017 . as at today nothing is shown in my account .My ticket number is # 252734.
Appreciate if your response team can take immediate action soonest possible.

I transferred RM10,000 to Luno the 14th November, with all the correct reference codes. Funds were confirmed transferred to Bitx Malaysia by my bank.
I issued ticket 248946 the 16th Nov. No reply, not even a mere acknowledgement.
I send an email to support@luno.com the 20th November. Still no answer. And still no money in my wallet. After 7 days! And of course no phone line to call.
Beyond the appalling customer service, I worry about the necessary reactivity when one want to trade efficiently.
Luno please take care of my case urgently. Thank you

Hi , on the 15th I paid R5000 , then R2000 and then R1000 , total R8000 . Nothing showing in my account . From my capitec account . No1 is getting back to me .
Ticket number #249134
Please get back to me ASAP

Luno don’t give reason why verification is rejected. And no customer email/phone. Very bad service! I have keeping sending my documents even AHV which was not stated for Europe/Switzerland. Are they bias or think foreigners living in Europe are All criminals. It’s being almost 2months they keep requesting to resend documents or we don’t provide service for what? What is alll this!!!!! I sure hope you guys read this!

Until now I am very happy with luno. EASY to use, and I do my trading a lot. Deposit fund no problem at all. Withdraw to send to my bank also no problem. I introduced Luno to my Singaporean friends, unfortunately why do nt have Sin $? Understand that Luno also can use in Singapore right?

I have problem with this luno wallet, I send out btc from luno wallet to another btc account and up till now it didn’t reflect on that particular account despite the fact that luno change me $8.16 sending fee alone still I didn’t see the btc I send out up till now so I think luno people are scammers and nothing more

Hey Luno,

My ticket is #238494. Why don’t you have any support phone or live chat for member to contact?
It takes decades to get your reply. We never heard reply from luno for my ticket swhich already 6 days and the count still going on. NO REPLY, NO FOLLOW UP, NO STATUS UPDATE. As a member who facing problem with my account, we feel very nervous and insecure. Does LUNO actually receive our ticket? Are they actually handling our case? Well, to LUNO it may just a support case, but to us, it is our hard earn money that lock in the account.
Lastly, we strongly suggest LUNO to implement live chat support or support phone to increase the efficiency to solve member problem. In the world of cryptocurrency, it changes every second, respond time is ultra important.

I’ve used LUNO now on a number of occassions and haven’t experienced any problems. Their platform is so user- friendly. I trust their service and will continue using it. They haven’t let me down yet.

Dear all

Has anyone withdrawn actual money from Luno to their own bank accounts? Large amounts?

Hey Luno, please respond to ticket #230590. It’s been 8 days since I wrote in the support inbox and I haven’t even gotten a reply from help centre apart from an automated message!

Hi There. recently opened a Luno wallet to transfer BTC to another account. After three attempts with different email addresses, eventually managed to go through the process, albeit the BTC price had gone through the roof.
So far the transaction process has been quick and efficient but it is a bit disappointing that there are no contact details if you have a problem…(eg: trying to open an account!)
The platform is easy to use and straightforward.
My only concern (apart from the battle to open an account) is the apparent difference between the Luno exchange rate when depositing (ie: live) and the live exchange rate using the XE currency converter. In the same currency to BTC the difference was 10-11% which seems rather large. Would appreciate an explanation for this…but of course there is nobody you contact or email!!

Luno and everyone,

Hi all, anyone have problem with withdrawal due to name mismatch? For example,
Name as per ID/Passport: Lee Ah Seng

When u full in details in Luno or any exchange, it’s gonna be given field to input:
First Name/Given Name: Ah Seng
Family name/Last name/surname: Lee

That is the way name is given and written at least in some countries.
So in Luno account it will show Ah Seng Lee instead of Lee Ah Seng as per ID/passport. Will this be a problem? Or it’s accepted??

Dear Luno

Can I visit your office in Cape Town please?

Kind Regards

Hi, plz follow up this case #234944 immediately…

Deposited to my Luno acc on 2 Nov 17 RM10,100 but till now not appeared in my Luno acc. Email to support 3 times – my first ticket #233067- asking Luno to expedite the deposit. Hope, to see this deposit appear soon. I will take all necessary steps, to get my deposit money still not in my Luno account.
I have done the deposit before this and no problem encountered.

Pls expedite Mr Luno- Bitx Malaysia – failiing to do so, will proceed with police report and submitted to my bank for investigation and get back the money.

Luno- if your company want to grow- one of the criteria you should seriously action, is providing effective /efficient support team.
This transaction ie from my bank to Luno- all required – Reference no- done. With no mistake. But wondering why Luno is delaying
This important action their customers.
Hope to get the response soon. Tq

I have an issue on deposit and until today it’s been 5 days without any response or reply. Deposited 11k still not reflected. Could someone please respond to my issue? Ticket number #228537. While waiting bitcoin already went up over the past few days.

How do I cancel my wallet?

I had a Bix x wallet on my android and just received a text message stating my luno password has been updated and I didn’t initiate it..and I just checked my wallet and it now shows no balance..Wtf?
Rick

hi , can ur team plz check #223178 ? both of this payment made on wednesday but it still doesnt credit to my id. thanks

I’ve used Luno for a few months and I’ve never had an issue with it. Why? Because I read their terms and condition like any normal, rational individual would when it comes to matters that involve large amounts of money. Also, impressive customer service Luno. Keep it up.

I have withdrawn my money twice so I can’t be scammed for that.

hi , can ur team plz check #220271 and #220266 ? both of this payment made on wednesday but it still doesnt credit to my id. thanks

hi luno customer servicer ,please check my ticket ( 220555 ) hopefully get respond from u soon , thanks.

Luno,
I have deposited a fund of RM30,700 on last Friday , until now I haven’t received in my luno wallet. I’ve been created a lot of tickets to ask about it but NO RESPONSE at all after they retify the initial msg. I very nervous and worried on this matter. Kindly help find out as soon as possible. Thanks
My ticket #216487

I lost my Google authenticator app details, have been unable to get login keys for my Luno account… have requested 2FA be removed from my account on the 29th September via Luno website, ticket #208630, and still not response from Luno. Email reply stated 4 days max to resolve issue… its now been 16 days! PLEASE respond… I need access to my account.

Ok so after using Luno for a while here is my honest review.

Yes Luno is not a scam. Yes they provide direct access to SA ppl to deposit and get funds “instantly” +30 min but thats not what the kicker is with Luno

Luno tends to sell BTC high to you. Eg if the current market price is R66000 per BTC (listed on their site even) when you instant buy the price spikes magically to R68000 and you actually pay way more for the BTC than you should have thats market indicative.

Secondly when you actually want to sell again and you want to convert it back to Rand then you only get R57000 per BTC.

This the write up as “Yea but you want to instantly get your money” so they sell your BTC at the lowest possible price someone is willing to pay for it.

Now there is no indicative “market” or Luno that is browsable like with any other exchange. There is also no indication of what the current buy vs sell orders are on Luno. There is also no listing of ask prices so you know what you can specify what the price should be or what you want to sell at.

Conclusion – Luno is hedging the BTC selling them at a premium and giving you min possible for them and hiding behind “Yea but you want to get your money instantly”. Their reasoning that if you are willing to wait for the BTC or Fiat then it will be market related BUT that process at time of transfer is so hidden and unclear that they dont want you to do that.
In my honest opinion they are being scaly in their exchange practices and manipulating the users due to some users not knowing better. Unfortunately we in SA dont have alternatives and you know what happens when someone has the monopoly over a certain process…. They take full advantage

Luno,
i had transfer deposit for RM2000 and RM3000 on 10 October 2017
1st deposit RM2,000 (Deposit Time : 9.26am) fund is not reflect in my luno wallet
2nd deposit RM3,000 (Deposit Time : 10.25cm) fund is reflect in my luno wallet
but why my first deposit is not reflect in my wallet ?

i already create ticket No : 213959 yesterday. until now no reply and no aswer from your side. I am still new in Luno ,first time facing this kind of problem

Please help me to settle my problem

I’ve been trying to get someone to respond to me since 6th October regarding non reflective deposit after my bank transfer. Until now there’s no response. Money is not in for few days. How long does it take to get this rectified or a response? My ticket is #212202

Been trying to login to account for two weeks now and no luck. When requesting password via e-mail I receive the password e-mail two or three hours after request an by then my session has expired. No support or contact and looks like this is the only platform
for feedback? Please update?

Hi Luno,

ticket #210960, the status show processing and the date of the withdrawal keep changing and delay. Can you help to update the status please? thanks

FURIOUS, cannot speak to anyone, no phone numbers listed, who do you speak to for technical support.
While the site is a self help, there are times you need to speak to someone.
Very dodgy that no telephone numbers listed.
Very poor.
I was told you were connected to FNB in someway, calling there FOREX desk, this don’t know who LUNO is!!
I will advise the person that referred me to your company that I feel hopeless and will look for another avenue to invest.

What is this new “specified amount contains fractional units” error I am receiving now that I want to sell my BTC? Please help!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!!

Hi LUNO,

I wonder why your BTC/MYR exchange rate is much different than current rates? For example in XE (1BTC = RM18,469). The exchange rate differences in other platforms are only within RM50-RM100 more or less.

While your current exchange rate is RM17,999. I have monitored your exchange rate in one to two weeks, it turns out that your difference with the others is about RM500-RM700.

I’m not happy with this. Need your explaination. Thanks

Hi LUNO

Why don’t you have any support phone or live chat for member to contact?

Me and my wife had submit my support ticket (#203004 and #203008) and it takes decades to get your reply. We never heard reply from luno for my ticket since 20th September, which already 6 days and the count still going on. NO REPLY, NO FOLLOW UP, NO STATUS UPDATE. As a member who facing problem with my account, we feel very nervous and insecure. Does LUNO actually receive our ticket? Are they actually handling our case? Well, to LUNO it may just a support case, but to us, it is our hard earn money that lock in the account.

Lastly, we strongly suggest LUNO to implement live chat support or support phone to increase the efficiency to solve member problem. In the world of cryptocurrency, it changes every second, respond time is ultra important.

Thanks,
Tony

Dear Luno support, I transferred RM10,000 to Bitx Malaysia Sdn Bhd account on 23.18 20 Sep 2017. But until now I havent receive any credit in my account. I created a ticket #204431 about 9 hours ago but yet receive any response from support. Please look into this ticket #204431

Luno just ruined my day. I just made a transaction of depositing 20, 000 Satoshi I spent days and night to earn, which I planned to use in paying my intuition fee but Luno took all 20,000 satoshi as a transaction levy? Comon guys, this is ridiculous. Luno of course u know what 20,000 satoshi is, when converted to Naira. Luno, this is my worst day ever.

Now for Malaysia example i withdraw by 13 September when i can get my fund transfer from wallet to my bank account?

Hi Luno, I have make a withdrawal since 9th till today 11th still not receive my money. The status show pending and the date of the withdrawal keep changing and delay. May I know what is the reason of the delay, thanks.
Support ticket: #198763 , #199012

hello i would like to know why is your price currently 63,923 ZAR for 1BC and its only worth 58795.35 ZAR? where does the extra money come from ?
do you take a cut or what

LUNO.com SUCKS!!! It’s soo hiden and so buggy! So hard to understand what compnay this is. They have ANY licence!!!!! SO how they can get my personal data -my passport, my money from bank. They keep our wallets with MILLION of dollars and nobody regulates them!!! Their BTC price always SUPER bad. Always SUPER slow to update to real value. DO NOT USE IT!

i made 2 deposit for RM100 and RM1000 and it is still not in my wallet for more than 5 days, and there is no reply from Luno. my Ticket #189459

Hi Werner

I see you have helped a few people out so far, hoping you can advise me. I made a payment into my Luno account more than a week ago and still haven’t recieved payment. I contacted the support team last week already and they haven’t gotten back to me.

Here is my ticket number #186897

Regards
Alec

I just got my inheritance from my father and some of it were some bit coins I really do not know what to do with them . I have been adviced to sell them to individuals at cheaper rates so I can get buyers quickly , so I will be selling my bit coins for $3800 .

Hi Werner,
I hope you still monitoring the site.
I have made an withdrawal on 4 Aug 2017 and I have have yet to received my fund until today 21 Aug.
Support ticket # 178202 I made on 10 Aug, not reply not helpful at all.

I seriously consider making a police report if I still not receive my fund after a month of withdrawal request made.

Hope you can assist.

Joe

I have been using Luno for many months and was actually very happy until yesterday when I sold 0.6302 bitcoin and should have received R41 000… however when the transaction went through I was paid just under R36 000 so was effectively conned out of Around R5000!!

I have sent four messages on the Luno help center and have screen shots of everything which clearly illustrates that I have been conned… I received some one line generic response and nothing since.

The rate that my bitcoin was converted at was less than market value and is much less than the lowest rate shown on lunos graph across the entire day letalone the time that my transaction was concluded..

I am still waiting for Luno to renfund me my bitcoin or pay me the balance of my rands… I will be withdrawing all my money from their account and cautioning everyone I know about Lunos MO when it comes to processing sell orders as this is a Scam!!

Greetings Werner*
Truly appreciate your time taken to rectify the tech problems we faced at LUNO..
Now I had problem accessing my LUNO account after many failed attempts yesterday 10th Aug, 2017 midnight. I did not experience this problem before…

Now my LUNO account has been “blocked” after trying many times to access it.. and now its written “RESET 2-FA” whenever I try to sign in.. Kindly help… Urgent!

Hi, im anuar, why i buy the bitcoin shon rate is low but when i buy it, its higher than the shown rate.. And why when i sell bitcoin, its cheaper than shown rates? … Why.? Seems the rates is scamed…

Good service from Luno.No complaints.Happy with them.

It has been 3 days I made a RM 500 transaction from my saving account however I didn’t use the reference code instead I copied paste the luno Malaysia account number

I’m getting very nervous that there’s no reply after they acknowledge the first reply

Also I bought a lot of btc.. I’m seriously having doubt this luno

Attached proof bank in slip as well

This is Werner, Head of Marketing at Luno. Thanks a lot for the thorough review, websites like yours are needed to help keep the ecosystem clean.

I’d like to elaborate on the “scam” comments you quoted. Unfortunately, when new customers don’t immediately receive their local currency or bitcoin –due to banking delays, normal operational procedures or Bitcoin network congestion– they usually freak out, thinking that their money got stolen/lost. Note that we have never been hacked or otherwise compromised (but as with any financial company/bitcoin exchange, some customers have been victim of phishing attacks).

We spend most of our time and effort to make sure the platform is safe and secure.

We are a fast-growing company in a combination of established and emerging markets (such as Nigeria, Indonesia, South Africa and Malaysia) and we’re constantly striving to provide the best security and service to our customers. I’d be happy to discuss operations further with the ScamBitcoin editors and looking forward to more Luno reviews by our customers and more ScamBitcoin reviews of other Bitcoin exchanges in the markets highlighted above 🙂

To the moon.