Luno

Luno is a centralized cryptocurrency exchange founded in 2013, making it one of the longest-standing crypto platforms globally. Headquartered in London, UK, Luno has built a strong presence, particularly in emerging markets across Africa (e.g., South Africa, Nigeria) and Southeast Asia (e.g., Malaysia, Singapore, Indonesia). It is focused on providing a user-friendly and secure way for individuals to buy, sell, and store cryptocurrencies.

Key Features:

• Pioneer in Emerging Markets: Luno has played a significant role in bringing crypto adoption to regions like South Africa, Nigeria, and Malaysia, often being among the first fully licensed platforms there.
• Strong Regulatory Compliance: Luno has a proactive approach to regulation, working closely with authorities in its operating countries. It is fully approved and regulated by the Securities Commission Malaysia (SC), and similarly licensed in South Africa and Singapore. Note: It is not regulated in the UK for crypto assets, which are high-risk and largely unregulated there.
• User-Friendly Interface: Designed with simplicity in mind, making it highly accessible for beginners to buy, sell, and learn about crypto. Available on web and mobile apps.
• Security Focus: Employs robust security measures, including storing the vast majority (95%) of customer crypto in "deep freeze" multi-signature cold storage wallets managed by institutional custodians like BitGo Custody and Fireblocks. Luno also conducts monthly security audits and provides Proof of Reserves.
• Fiat Integration: Offers convenient fiat deposits and withdrawals in supported local currencies (e.g., MYR, ZAR, NGN, IDR, SGD).
• Limited Crypto Selection (Historically): While expanding, Luno historically focused on a smaller selection of major cryptocurrencies (like BTC, ETH, XRP, LTC) to ensure security and compliance, though it has been adding more assets over time (e.g., SOL, ADA, MATIC, LINK, UNI).
• Educational Resources: Provides extensive educational content to help users understand cryptocurrency and invest responsibly.

Recent Developments & Reputation:

• Ongoing Operations: Luno remains fully operational, although like any large exchange, it occasionally experiences planned maintenance or minor, temporary issues (e.g., recent MATIC send/receive unavailability, IDR API issues in May 2025), which are typically resolved quickly and communicated via its status page.
• Layoffs in 2023: Luno, as part of the Digital Currency Group (DCG), experienced global staff layoffs in early 2023 due to market turbulence. However, Luno Malaysia and other regional operations assured customers that services and fund safety were unaffected.
• Focus on Security & Transparency: Continues to emphasize its commitment to security, 1:1 crypto storage, and transparently publishing Proof of Reserves reports.
• Generally Positive Reputation: Luno is widely regarded as a reliable and secure platform, particularly for entry-level users in its target markets, due to its strong regulatory compliance and focus on safety. Some user feedback occasionally mentions higher fees compared to global exchanges or limited advanced trading tools.

Summary:

Luno is a well-established, regulated, and secure cryptocurrency exchange with a strong foothold in various emerging markets. Its emphasis on regulatory compliance, robust security practices (including deep freeze cold storage and Proof of Reserves), and user-friendly interface makes it a trusted gateway for millions entering the crypto space. While it may offer fewer advanced trading features or a smaller range of niche altcoins compared to some global giants, its commitment to safety and local regulatory adherence positions it as a highly reliable choice for users in its supported regions.