Luno is a digital wallet used for cryptocurrencies such as Bitcoin, Ethereum, Litecoin, Ripple XRP and Bitcoin Cash. It’s a platform authorized by the Malaysian government and not a cryptocurrency provider. Transactions of buying, selling and storing cryptocurrencies can be done through Luno, and users can even convert cryptocurrencies to ringgit Malaysia using local bank accounts with a small service charge. Luno has been in operation since 2015 and has become the largest digital asset exchange platform in Malaysia in 2017. In 2018, Luno had some problems when its accounts were frozen by the Inland Revenue Board of Malaysia (IRB). However, at the end of 2019, Luno has also been fully recognized and certified by the Securities Commission (SC) Malaysia and this is a positive impact on cryptocurrency activities in Malaysia. Investors do not have to worry to perform any cryptocurrency transactions through Luno.
Storing digital assets in Luno is one of the newest methods nowadays. With as low as RM 3 investors can start investing and withdrawals can be done at any time. In fact, to attract more investors, Luno has offered free bitcoin worth RM 25 if they purchase worth RM 250. Investors can access Luno’s website at www.luno.com for the latest information and more. Through this website, investors can check the latest prices of cryptocurrencies as well as be able to monitor current trends. The Luno application can also be downloaded to mobile phones and is very easily accessible. As a user, you only need to register to log in to the account for any transaction.
Investors can make cryptocurrency purchases using internet banking services, credit cards or debit cards. Withdrawals can also be made directly to the user’s registered bank account. Currently only 5 types of cryptocurrencies are available on the Luno platform namely Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH) and Litecoin (LTC).