Cryptocurrency exchanges are the vehicles of the cryptocurrency industry and they let you buy, sell, and trade cryptocurrencies. It is important for you to note that without access to a cryptocurrency exchange, you are unable to buy or sell digital assets. There is quite a number of crypto exchanges in the world including Luno and Revix and each exchange has its own strengths and weaknesses and it takes time to identify the best cryto exchanges you can Sign Up with. Some of the things you should consider when choosing a crypto exchange to trade with are trading fees, crypto currencies available, deposit options and the ease of registration. This article seeks to guide you on the similarities and differences between Luno and Revix.
What is Luno?
Luno is a seasoned international cryptocurrency exchange and payment service company which has been in existence for 9 years now having been founded in the year 2013. With Luno, you know that you are trading with a crypto exchange that has a wealth of experience because the company operates in over 40 countries including United Kingdom, Australia, South Africa amongst other countries. The main reason why Luno was created was to empower billions of people across the world by upgrading them to a more open, efficient, and inclusive financial system. Luno is just a platform where people use to buy and sell their cryptocurrencies, so in a way the company connects buyers to sellers. Luno offers a wide range of cryptocurrencies including Bitcoin, Ethereum, USDC, XRP, Litecoin amongst others. Luno offers a platform which is very easy to send, receive and spend your crypto and fiat, but if you are struggling to trade, there is a Learning Portal and blog and this serves the purpose of providing education for beginner bitcoin trader.
What is Revix?
Revix is a an international crypto investment company which is available in several countries around the world. The Revix platform makes investing in crypto safer, faster and easier and is backed by Sabvest, a company which is listed on the JSE. Revix has a minimum investment of only R500, the other good thing is that there are no monthly fees and you will only be charged a 1% transaction fee for both your buys and sells. You can sell your crypto investment at any time and withdraw your funds. And there are no lock-up periods like there are with other investment funds. Revix offers several cryptocurrencies such as Bitcoin, Ethereum, Gold, Cardano, Uniswap amongst other cryptocurrencies. Revix has a bitcoin rewards programme which allows customers to earn reward points which can then be converted into cash or cryptocurrencies. What happens is that after you have verified your account, you can then earn points, level up and get rewarded with lower fees and Bitcoin, each time you refer a friend, you will earn 150 points and your friend will receive R200 in cash deposited into their Revix account.
What fees are charged on the Luno and Revix platforms?
Before choosing the best crypto exchange to work with, it is vital to do a cryptocurrency exchange fees comparison first, as different companies tend to have different pricing models.
The Luno taker fee is between 0.03% and 0.10% whilst the maker fee is also 0%, Revix, on the other hand charges a 1% fee when you make or sell out of an investment. What this means is that Luno has better taker and taker fees compared to Revix.
How many cryptocurrencies does Luno and Revix offer?
You need a crypto exchange that offers you with several cryptocurrencies including the traditional cryptocurrencies such as Bitcoin and Etherium because this can be more comfortable and profitable. It is therefore important for you to know what kind of cryptocurrencies are supported by certain exchanges before you can start trading with them.
Luno offers a total of 8 cryptocurrencies on its platform, although they offer Bitcoin and Ethereum which are arguably the most popular coins, Luno has to try and offer more coins so that traders have options when trading. Below is a list of the coins on the platform;
Bitcoin
Ethereum
Ripple
Bitcoin Cash
Litecoin
Uniswap
Chainlink
USD Coin
Revix cannot compare with a few crypto investment companies in terms of the number of cryptocurrencies they offer, the good thing however is that Revix gives its customers some of the best cryptocurrencies namely:
Bitcoin
Ethereum
Cardano
Uniswap
Polkadot
Solana
Binance Coin
PAX Gold
Top Ten Bundle
Smart Contract Bundle
Payment Bundle
USD Coin
Both crypto exchanges do not offer as many digital assests as other exchanges, however, the good thing is that they both offer the most traded on cryptocurrencies such as Bitcoin and Ethereum.
What are the deposit methods for both Luno and Revix?
Having a crypto exchange supporting different types of payment methods could be a convenient option. You should make sure that the crypto exchange accepts various types of funding alternatives that suit your needs.
Buying cryptocurrency with Luno is easy. Depending on your region, you will first need to make a deposit using a bank transfer, EFT or any other method available to you. Once your deposit has reflected in your local currency wallet, you can proceed to buy cryptocurrency with those funds. On the other hand Revix accepts both FIAT and Crypto deposits. Depending on where you are located, your account will be either ZAR or GBP denominated. For Fiat deposits, Revix accepts any currency. The Cryptocurrencies currently accepted by Revix are BTC, ETH, BCH, LTC and USDC. In this regard, both Luno and Revix offer convenient payment methods.
How easy is it to register on either the Luno and Revix platform?
Both Luno and Revix have a simplified registration process and below are the steps to take when registering on both platforms;
How to register with Luno?
In order for you to use the services of Luno, you must sign up for an account on their website and this is a simple exercise. To Sign Up, you must:
Visit their official website at https://www.luno.com/en
Click on the blue ‘Sign Up’ button.
Fill in the provided registration form with your Email address and Password.
Confirm your humanity and click on the ‘Sign Up’ button.
ALTERNANTIVELY
You can also Sign Up using an existing Google, Apple or Facebook account.
You will have to go through a KYC verification before you can use the trading platform to the full extent.
How to register with Revix?
Revix requires you to first register for an account in order for you to start using their services. In order for you to register with Revix, you must;
Visit their official website at https://revix.com/
Click on the blue ‘Get Started’ button.
Fill in the provided registration form with the following details;
Password
Confirm your humanity and click on the ‘Continue’ button.
You will receive an email with a magic link that will sign you in to Revix, click the ‘verify email’ button to verify your account.
After that, there is need to fill inyour personal details;
Legal first name
Legal surnames
Country of residence
Date of birth
Before you can invest we need to verify your account. Get your passport or ID and a recent proof of address (not older than 3-months) ready. Then make sure you’re in a well-lit room so that you can take a clear selfie that we can use to match you to your ID using facial recognition.