Making money with Luno

We cannot talk about cryptocurrency exchanges and not mention Luno, that discussion will not be complete because Luno is one of the top crypto exchanges in the world. Luno is a popular cryptocurrency exchange and payment service which has been in the crypto industry for some time now having been launched in the year 2013, and this makes them a seasoned crytpo exchange. The exchange is available in over 40 countries across the globe including in South Africa, United Kingdom and Australia. Luno offers top cryptocurrencies such as Bitcoin and Ethereum and this is great because these are the two largest coins by market capitalization, across fiat currencies. It is important to note that 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 an instant buy/sell option and in this case, they will be acting as the broker. Luno is not a platform which is there to take advantage of you, but the real reason behind the creation of Luno was to empower billions of people across the world by upgrading them to a more open, efficient, and inclusive financial system. This article seeks to explain how Luno is to empowering people and how you can make money on the Luno platform.

How to make money with Luno?

The fact that the majority of people in the world are living in poverty suggests that making money is not as easy as most people think and in order for you to make money, you need to do your own research and make informed financial decisions. You might have probably heard that people are making real money investing in crypto, whilst that is true, you will also discover that there are several people who have invested in crypto and have not reaped any rewards, in fact they have made a huge loss and that is because they do not fully understand how it all works out and in order for you to trade in crypto, the first step is to do research in terms of which coins to trade with, which crypto exchanges offer better value, how much to invest amongst other things.

Firstly, it is important to note that Luno is not a financial services provider that offers personal finance products, such as insurance, investments, or loans, but they are just a cryptocurrency company which offers an exchange, wallet as well as the popular Luno Savings, which allow you to earn interest on your bitcoin, Ethereum and USDC holdings. 

You need to understand how the Luno market works and the simple way to understand how to make money on the platform is that the price you sell your crypto has to exceed the price you bought that crypto with in order for you to make a profit, if the opposite happens, you will realise a loss. In this case timing becomes something you must get right because it is better for you to hold on to your cryptocurrency if the price is bad and wait until the time when the price is good and then sell in order to make a profit. The price of a coin is ussually affected by demand, if the demand is high, the price of the coin usually increases and if you want to sell, this is probably the best time for you to sell.

The Luno Savings product works just like a savings account with a conventional bank, whereby you can earn up to 1.5%* interest on your Bitcoin**, 2% on your Ethereum**, and up to 7.6%* interest on your USDC** per annum. A number of crypto exchanges are offering a Savings product to their customers but what seperates the Luno Savings from the rest is the fact that there are no fixed terms, no admin fees, and your funds can be moved into your Luno wallet for local currency whenever you need. Please note that your earnings are then paid on the first day of each month in the form of crypto and they are paid directly into your correlating Savings Wallet. You have absolute control over the crypto paid into your Savings wallet as you can either choose to withdraw them straight away, or leave them in to compound and grow exponentially.

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