At times people do not just want cheap products or services which cements why a lot of crypto users love Coinbase which has eventually kept them in profits over the years.

For instance, Coinbase made over $100 million in the year 2019, which is solely due to its authority in the cryptocurrency industry.

Being one of those that loved Coinbase, not just for its quality but for the intuitiveness and simplicity of the platform, when I discovered Luno some time ago (since Coinbase doesn’t allow Nigerians and Africans to trade), I quickly signed up for an account, went through 1st level verification, having seen how simple it was to use as a beginner, I had no other choice than to become an official Luno crypto user from Coinbase. 😎 


In today’s Luno review, we will break down everything you need to look out for when using the cryptocurrency platform.

Lookout because we will review the Luno Nigeria withdrawal modalities,

the limits, fees, and everything you need to know.

But before that, here is a concept I think you need to consider or adopt.


How I Decided to Work in the Cryptocurrency Industry

I may not know your goals and how you want to go about your transactions and platforms to use, but for me, I decided that a few and quality crypto platforms were better. 

That is, when it came to the game of buying, selling, and trading digital assets, all I needed were 3 crypto services.

Those were:

1. A simple crypto exchange to buy Bitcoin using my debit card or bank transfer – Luno as one of them or Blockvilla then – before Nigerian users could buy cryptos on Binance directly.

2. A core crypto wallet that holds many altcoins – Binance wallet or a more versatile, the Trust wallet, still a product of Binance).

3. A flexible and simple crypto trading platform with both beginners and advanced facilities – Binance.

So, before you go into crypto, kindly decide what you want. Do you want to jump from one crypto website to the other because too many may mean less focus?

Should you need help on the best to use, see the pros and cons of top crypto platforms here.

Well, that was just by the way in case you needed direction on how to make sense of the cryptocurrency industry.

With that being said, let’s jump right at the review.

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Luno Nigeria Review 2021, the Best Beginner Friendly Crypto Website?

luno bitcoin website review

Here are a number of things you need to know about Luno.


1. Luno Nigeria, why it’s a Deal Breaker

Like me, if you need a clean cryptocurrency website to buy, sell, trade, store, and use cryptocurrencies (Bitcoin, Ethereum, Ripple, and Litecoin), then you can be sure to get an account on Luno and start your journey.

Beginning with its user-friendly interface, when you go to the official Luno homepage at, you will meet an intuitive interface that is not messy like what we see on most crypto exchanges.

luno nigeria review


2.  Simplicity and Majoring in a few

The second reason I chose to go with Luno was due to the fact that they offered only Bitcoin and Ethereum transactions back then. As in, you could only buy BTC and ETH and use the same to trade other crypto assets of your choice.

All I wanted was a crypto exchange to swiftly buy crypto using my credit card or bank account here in Nigeria.

But the story is quite different today as Luno now offers more crypto coins apart from Bitcoin (BTC) and Ethereum (ETH) as it was.


3.  Luno security, is Luno safe?

Because I was okay using Coinbase as a wallet without having any issues since it is super safe to use, I needed to be conscious of the next crypto platform to stick to.

Having jumped at Luno as the Coinbase for Nigerians/Africans, and also having used it for some time now, with the security structures in place for you, I can say that Luno is super safe for crypto users.

While Luno works hard to secure your Luno crypto wallet and account, on the other end, you have to be proactive and take good care of your crypto accounts.

For instance, if you expose your sign-in details and are stolen, they can be used to steal Bitcoin or Ethereum from your Luno wallet.

At that point, there is nothing you, Luno, or any crypto exchange in the world can do to get it back.

Just to answer the question of if Luno is safe, as a Luno user, they have provided security measures such as two-factor authentication, email and device security authentications, all to secure your wallet account.


By the way, if you are integrating 2FA on your Luno account I recommend you use Authy mobile app as a better alternative to Google Authenticator because the latter is a pain to reactivate accounts when you lose your mobile device.

Secondly, Biometrics and Touch ID / Face ID. Again, Luno has provided this security feature to give users the option to set up biometric authentication (Touch ID or Face ID if you use iOS).

The essence of these security features is to tighten unlocking your Luno app and authorizing certain actions.

Thirdly, the integration of OTP.

Luno also makes use of the OTP – a one-time password, also known as a one-time PIN or dynamic password that is valid for only one login session or transaction, on a computer system or other digital device.

As per your transaction on Luno, an OTP will be sent to your email account or mobile phone number wherefore you can enter before being able to access and process your crypto account and transactions successfully.


The use of a strong Email Password

Now apart from the above security measures by Luno, you must use a strong password for both your crypto wallet and email account to which the OTP will be sent.

If you don’t know how to create a strong password see an example below.


To see a complete guide on password creation, check out Webroot later on.

Apart from using a strong password, also avoid clicking questionable links sent to your email disguising as from Luno – to stay safe from phishing websites.


Report Suspicious Activity

The last security option offered by Luno is the ability to report any form of suspicious activity as witnessed with your trading account.

If for any reason you have doubts about the safety of your account, use this link to learn more on what next.


4. Luno Nigeria Sign Up & Registration

Starting with as little as N500 to transact, to create a cryptocurrency account where you can easily buy, sell & trade different cryptocurrencies plus a solid wallet account on Luno, click here to sign up on the official site.

luno nigeria sign up

When you click the link above, hit on “get started” to enter your account details.

luno nigeria customer care number

Enter your email and preferred password.

When done hit the “sign up button” and click the verification link sent to your email address.

luno withdrawal time in nigeria review 2021

Upon verifying your email account, your Luno account would have been created.

That is all about signing up on Luno from Nigeria.

 💡 Click here to go to sign up today


5. Luno Nigeria login, it’s always been simple

Like signing up for a Luno account, signing in is as simple as clicking the “sign-in” button on the Luno homepage.

Luno nigeria login

Upon hitting the sign-in button, you will be prompted to enter your email, and then your password.

When you do, you will be told to go to your email and get your OTP before accessing the crypto account.

Luno wallet account

Enter your password and move on.

Luno support nigeria

Get your OTP from your email account.

Luno in nigeria

Copy the 4 digits OTP code and paste it to access your account. 

How to know that you’re signed in is when you see your profile at the top right corner of your dashboard.

Luno charges in nigeria

Setting up your Luno Profile

It is on the profile that you can configure your Luno account the way you want.

Luno office in nigeria

And when I talk about configuring your account, I am talking about setting up security options, getting price alerts options if you’re trading, and other preliminary account settings as dim fit by you.


6. Luno Wallet Nigeria, how to use it

Another reason I have stuck with Luno for years now is the simplicity of the wallet account that comes with your main account. 

Luno wallet account

Clicking on the navigation on your top-right you will be open to clean crypto wallet accounts.

luno nigeria limit

Due to the simplicity of this wallet, I was encouraged to add my banking details to use the crypto account to aid direct transactions.

One thing to look out at is, if you are not trading cryptocurrencies then you don’t need a multi-crypto wallet yet like the Trust wallet.

With Luno, you are very okay to master the industry before going further when you are set to advance.


Adding more wallets on Luno

By default, Luno provides you with just 2 crypto wallets (BTC & ETH) plus a local currency in Naira.

To add more crypto wallets, click on “Add a new wallet” to do that. When you do, select the next crypto wallet you want to create and move on.

crypto wallets account on Luno

The last wallet known as “BTC savings” is for those who prefer a kind of fixed depositing with Luno to get interest on their crypto assets.


How to Deposit Naira on Luno

To deposit Naira or fund your Luno wallet by buying Bitcoin or any other crypto of your choice, click on “Local Currency”.

Deposit Naira on Luno

Click on deposit and choose how you would like to add money to your Luno wallet.

I like using “Debit or Credit card with PayU” but you can choose other payment options of your choice like Instant transfer with Paystack – they are the same and swift.

fund luno account in Nigeria

Enter your amount and click on “Next”.

deposit money into luno account

Lastly, enter credit card details and click on “CONTINUE TO PAYU” to finalize your transaction.

Luno nigeria withdrawal time

On this account, I can only deposit a maximum of N200,000 based on my 1st Level verification.


7. Luno Exchange Nigeria, how to use it

Apart from offering other basic transactions and a wallet, Luno also offers a crypto exchange platform for anyone willing to trade and make money.

One of the advantages of a trading exchange platform over using direct deposits is that you can actually buy cryptos cheaper from other traders plus you are charged lower.

To access the exchange, click on “Exchange” on the dashboard from the home page.

Luno Exchange Nigeria

Here is the interface of the trading platform.

Luno Exchange Review Nigeria

To buy Bitcoin or trade other cryptos, you can use any order variable like Limit, Market, and Stop-Limit.

Just before we call it a day. Let’s see the cost of using Luno in Nigeria.


Related how to understand and use Stop-Limit/Stop-Loss


8. Trading Fees on Luno Exchange

Should you want to base your crypto trading on Luno exchange, the good news is that you will be paying less in terms of the transaction fees.

The introduction of the new fee structure on October 2nd, 2020 means that you’ll now pay significantly lower taker fees, no matter the volume you trade every month.

Trading Fees on Luno Exchange

The highest fees that any customer will pay per trade will be 0.10%, while the lowest will be 0.03%. Nice.


9.  Luno fees & charges for Naira Deposits

When you deposit or fund your Luno local currency wallet before using it to buy Bitcoin or other coins, the charges are as follows.

  • NGN 300.00 if you are using Flutterwave or Paystack.
  • 1.58% if you are using PayU Card Deposit. The Max they can charge you here is NGN 2,070.

For instance, if you fund with N5,000 you will be charged N79 only. That is 1.58/100 x N5,000.


10. Luno Fees and Charges for Cryptocurrencies deposits

Whether you are depositing BTC, BCH, ETH, XRP, or LTC, Luno does not charge you because it’s all free.


11. Luno Fees & Charges for Naira Withdrawals

For all Nigerian users, the withdrawal fee on Luno is N300 only no matter the amount. That is less than a dollar although it was always N200.   

Luno Nigeria withdrawal limit

However, I did a recent withdrawal as of the time of writing and I was charged N200 only (not N300 as stipulated above). 


12. Luno withdrawal & Deposit limits in Nigeria

  • The withdrawal and deposit limits overall time for Luno users in Nigeria on Level 1 verification is N200,000.
  • The withdrawal and deposit limits per month for Luno users in Nigeria on Level 2 verification is N500,000.
  • Level 3 is not stated which means you have the freedom to transact without limits until you are notified of when to stop.

You can always check out their fee structure here.


13. Luno Nigeria withdrawal time in Nigeria

Withdrawal on Luno to your Nigerian bank account should be between 1 min and maximum of 24 hours.

For the withdrawal above, I received the funds under 4 minutes.


14. Luno investment in Nigeria

Recently, Luno has added a new transaction feature for those who are willing to earn passive income via lending.

For Nigerians who are in for the Luno investment, all you need to do is create a Luno investment account called “Bitcoin Savings Wallet“ and fund it with Bitcoin, and get your interests paid into it per month which totals 4% per year.

Luno investment in Nigeria

This Luno investment for users means that if you deposit let’s say, 1BTC as of the time of writing, you will get $760 more at the end of the year.

That is more than N3450,000 when exchanged for Naira.

Interested in investing in Luno? If yes, then click here to get started.


15. Luno level 3 verification in Nigeria, what to do

After successfully confirming your mobile number and basic personal details and a selfie photo (no older than 24 hours) for Level 1 verification, and submitting a photo scan of a government-issued ID for Level 2 verification, to go limitless on level 3 verification, you need to submit proof of residential address.

As stated by Luno, you can use your electricity bill, statement of account from your bank, or even a Letter from a university or tertiary institution, stating that a student resides on campus, and more.

Most importantly, all the documents must be less than 3 months.

P.Sbefore you use Luno, I recommend you go through Level 1 verification – a must, if you ask me for fluent transactions.


16. Luno Nigeria Customer Care Number

Luno Nigeria does not offer a disclosed customer care number for customers to call except a portal to report any form of challenges.

When I was scammed on Paxful by a trader having transferred money to his Paxful crypto account, a swift responsive route I used was emailing them.

So, if you have any issues and want quick response use this email address:

Again, another hack is using their social media handles. In fact, I prefer social media because they wouldn’t want to keep a bad reputation.

But as a gentleman, I recommend you follow the steps below before ramping up their social media accounts.

If you are sure that your issue is not treated here, they’ve not responded to your emails, the next way to get their customer support attention is to lay a complaint by DMing them on Twitter here or Facebook here.

Luno Nigeria customer care number on Twitter


17. Luno Nigeria Review Summary

Having used Luno for some years now, the review summary is that Luno is the simplest platform for beginners to buy cryptos/fund their digital asset accounts in Nigeria with the flexibility of using different payment methods, plus it is secure with security systems in place and cheap fees and charges based on the route used.

However, a less notable con is relative high fees on Bitcoin transfer (which is due to the Bitcoin network and not really on Luno), and ultimately, no instant chat or phone line for customers to converse.

All in all, I like it simple, and has been useful ever since, and now we are in 2021.


Like I always say. If you are like me, you don’t need too many crypto services.

Luno exchange to fund your wallet from a bank or credit card.

Binance trading website for trading or hold your cryptos assets.

Optional – Trust wallet to hold your assets – as you can use the Binance wallet that comes with your account for this.

The Ledgers or Trezor wallet to hold cryptos on a long term basis.

Personally, I am not using Trust wallet yet because I am okay with Binance as it comes with multi-altcoin wallets.

To join millions of users and traders on Luno, register below.

Frequently Asked Questions about Luno Crypto Exchange

Frequently Asked Questions about Luno Crypto Exchange

Q. How many cryptocurrencies can I trade on the Luno Exchange?

A. 5. Those are Bitcoin (BTC), Ethereum (ETH), BitcoinCash (BCH), Ripple (XRP), and Litecoin (LTC).


Q. Does Luno have an Office in Nigeria?

A. No. From all indications it does not seem that they do apart from offering its services in Nigeria.


Q. What are the main disadvantages of Luno?

A. Instant chat Support. Personally, I like working with companies that offer an instant support for their customers.

However, I have used them without issues plus the avoidable channels to communicate with them, I think the issue of communication can be handled using her social media handles.  


Q Is Luno a Nigerian company?

A. No. Formerly operating and known as Bisq as of 2016, Luno’s major base was in South Africa. So, it makes sense to say that it is not a Nigerian crypto company.


Q. Luno alternatives in Nigeria

A. Blockvilla for local exchange, and Binance for international. Based on usage, a local recommended crypto change apart from Luno in Nigeria is


Q. How Effective is the Luno Wallet App?

A. 98% if you want. By 98%, I mean that it is necessary to get the Luno app if you are a mobile user.

In fact, as a beginner crypto trader, just the Luno wallet app and Binance trading app might be all you need to get started, mostly for crypto business beginners.

And that is all about the ultimate guide to Luno review.


 💡 Try Luno for free


It’s been over 5 hours doing this. Over to you.

If you have any questions, leave them below. Also, for you that have used Luno, so far, what has been your experience(s)?


References: Graphics –, Luno Taker fees, Trade Crypto, Free Alts, BTC in Nigeria.

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