Today, we are looking at a delicate topic which is based on investment. And that, is, how to buy Ethereum crypto asset on the Luno platform.
Having already defined what Ethereum is and its uniqueness, in a simplified form, we understand that Ethereum is a global, open-source platform for decentralized applications.
With Ethereum, you can write code that controls digital value, runs exactly as programmed, and is accessible anywhere in the world.
This tells more on why many digital assets are built on the Ethereum network.
Where to store your Ethereum after purchase – the Luno Ethereum wallet
There is no doubt about it, any crypto place that transacts Ethereum has its own wallet
Also, if you already have a Trust Wallet from Binance, you can transfer your ETH and hold after the purchase on Luno exchange.
What is the Minimum Ethereum to Sell on Luno?
The minimum Ethereum to sell on Luno is USD10. 00, or its equivalent with any of the 5 Cryptocurrencies supported on Luno calculated on the day the transaction is to be carried out.
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Without further ado, let’s see how you can buy Ethereum on Luno.
How to Buy Ethereum on Luno in 5 Steps
Here are the core steps you need today.
1. Sign up and get a Luno account
To get started to buying Ethereum on Luno, you need to first of all sign up for an account.
➡ Click here to sign up for an account on the Luno crypto exchange.
2. Verify your Luno Account to Enable Purchase
The next step of action to enable purchase is to verify your account. It’s simple.
Just go the email address you used to sign up and click on the verification link sent to verify your Luno account.
3. Login to your Luno Dashboard
Upon clicking the link and verifying your account, the redirection will land you on the login page.
Go ahead and login to your Luno account.
4. Buy Ethereum by selecting the Amount
Having logged into your account, the next step of action is to select ETHEREUM on your dashboard.
Proceed by selecting “How much Ethereum you want to buy”.
Upon clicking it, you will be led to select payment option. For instant purchase, click on “Credit card with PayU.
5. Enter Payment Details
Proceed to enter your credit card details and finally click on “PAY” to make the purchase.
That is all.
After making the payment, refresh your Luno wallet page and see your purchased coin seated and balanced.
Just before we close, I want to bring to our notice that there are other best ways to buy Ethereum on Luno crypto exchange and that’s what we are about to see now.
4 Best ways for Buy ETH on Luno
Here are the top 4 ways you can use and purchase ETH on Luno.
- Use Naira or Local Currency to Buy ETH on Luno
- Use Bitcoin (BTC) to Buy ETH on Luno
- Use Altcoins to Buy ETH on Luno.
- Use Your Mobile App to Buy ETH on Luno.
Let’s see how to work with every one of them.
1. Use Local Currency – How to use Naira or local currency to buy ETH on Luno
This is pretty simple.
Instead of choosing to use credit card to make purchase on step 4, select Naira or your local currency (if you had already added Naira) to your Luno wallet.
2. Use Bitcoin (BTC) to buy ETH on Luno
If you already had BTC in your Luno wallet, instead of using local currency or credit card to purchase ETH, select Bitcoin (BTC), and follow the same prompts to make purchase.
But what if you don’t already have Bitcoin (BTC)?
Let’s say you had BTC on Binance and you want to use Luno for ETH.
To make the transfer, you will have to copy your BTC address on Luno to Binance and make BTC transfer to your Luno BTC wallet.
When done, use the transferred BTC on your Luno wallet to buy ETH.
That is, Luno address > To Binance > BTC transfer from Binance > Luno > Buy ETH on Luno.
That is all.
3. Use Altcoins – How to Use Altcoins to buy ETH on Luno.
Also, let’s say you have an Altcoin like MITH on Binance and you want to buy ETH on Luno.
What to do is, go to Binance and select MITH/ETH pair, exchange MITH for ETH.
When done, copy ETH wallet address on Luno and paste on Binance and make the transfer.
On Binance, exchange MITH/ETH > Transfer the ETH on Binance > Luno.
With the above steps, you don’t need to buy ETH again on Luno since it was transferred as Ethereum.
4. Use Mobile apps – How to use your mobile app to buy ETH on Luno in 5 steps
Step 1. Using your mobile app to buy ETH on Luno is as simple as the main site. What to do is first sign up for a Luno account if you’ve not.
Step 2. Verify your account. Upon clicking the verification sent to your email it will redirect you to Luno homepage.
When there you will get a link to download the Luno app. Download same and move on.
Step 3. Log into your Luno account using your mobile wallet app.
On your dashboard you will see “how much do you want to buy Ethereum”.
Kindly note: the steps are all the same process whether on mobile or web. Let’s just continue.
Step 4. Enter amount of Ethereum you want to purchase, with the payment option.
Step 5. Enter your credit card details – using credit card.
Upon selecting the amount you want to purchase ETH, go ahead and enter your payment details to process the transaction.
Upon making payment for the ETH asset, refresh the Luno app and you should see your ETH investment logged in there.
That’s it on “how to buy Ethereum using the Luno app”.
How to Sell Ethereum Today
Just before we call it a day, let’s answer the next big question which is “How to SELL Ethereum on Luno”.
Now, selling Ethereum on Luno means 2 things.
#1. It might be that you purchased ETH and held in your Luno wallet and it’s time to sell it – withdraw it, which is exactly what we will see.
#2. On the other hand, if want to sell out after a successful trading which this can only be possible if you traded on the Luno Exchange platform.
#1. How to SELL Ethereum on Luno from the ETH wallet
Assuming you bought ETH and held and its’s time to withdraw to fiat – local currency, here are the steps.
Step 1. Login to your Luno wallet.
Step 2. On your dashboard, click on ETH and select “SELL”.
Step 3. Choose the currency you would like to sell for.
As in, do you want to sell ETHEREUM and get Bitcoin (BTC) or you want to sell and get fiat (Naira) – select your local currency as well.
Based on what you want to do, select the same and proceed.
Using Naira – fiat as a case study (you can replace NGN with your local currency).
Step 4. Select Naira and proceed to enter how much Ethereum you want to sell.
Step 5. Follow the prompt and select your (Local) Nigerian Bank account and you will have gotten the money.
The last transaction I did dropped after 3 minutes. So, you should get your resold ETH from Luno immediately.
#2. How to SELL Ethereum on Luno from the Trading Exchange
Let’s say you traded ETH and with your profit you want to withdraw the same, here are the steps.
Step 1. Login to your Luno account and go to Exchange.
Step 2. Select ETH and “MARKET” which gives the best available prices to sell the coin fast.
Step 3. Click on “SELL ETH”. And from there you will receive BTC, which you can exchange to Fiat and withdraw.
That is all.
Frequently Asked Questions on Buying and Selling Ethereum/Crypto using Luno
See a few answers to some questions.
Q. Can I transfer Ethereum from Luno to Binance’s Trust Wallet?
Ans. Yes. To transfer Ethereum from Luno to Trust Wallet, you first of all need to download the Trust app.
Step 2. Launch the app and go to ETH and copy the wallet address as shown.
Step 3. Come back to your Luno wallet app and paste the address from Trust Wallet.
Step 4. Enter the amount of Ethereum you want to transfer from Luno wallet to Trust Wallet.
Lastly, verify the transaction and you’re done.
Q. How do I buy Ethereum on Luno?
Ans. All you need to do to buy Ethereum on Luno is first of all, funding your wallet account using your credit card or any other payment options, and from there, you go on to buy ethereum on Luno.
Q. How can I receive Ethereum on Luno?
Ans. Copy the wallet address of Ethereum from your ETH tab/app and give to the sender.
From there, the sender will paste your Luno wallet address in his or her ETH wallet and send the amount of ETH he/she wishes. That is all about the whole process.
It’s wrap on how to Buy and Sell Ethereum in Luno
When it comes to buying or selling of ETH or other currencies on Luno, the above as discussed are all you need to know.
If you are here, I can say that we’ve swiftly brushed the issue of how to buy Ethereum on Luno.
And the big question, can I use this guide to buy Ethereum on Luno in Nigeria, South Africa” and other places?
The answer is yes.
As far as your region falls in the Luno user regions, this guide is all you need.
➡ To get started, click here to register on Luno exchange.
Over to you. Like me, have you ever used Luno? If yes, tell us your experience so far.
Read also – how to make money with Luno Investment Platform.