LUNO is a bitcoin-related company headquartered in London. Luno facilitates bitcoin storage and transactions such as buying, selling and paying through their bitcoin wallet services. They also operate exchanges between traditional currencies and bitcoin.
History of Luno
- Luno was founded in 2013
- In 2016, Luno took part in the FCA Sandbox programme. This allows businesses to test financial products with regulatory supervision.
- In September 2017, Luno raised $9 million in order to introduce its bitcoin wallet, exchange and services in Europe.
- Since November 2017,Luno has also supported ethereum.
- At the start of 2018, Luno announced they had reached nearly 2 million customers and processed over $5 billion. They are pro-regulation.
- In April 2018, Luno registered with the bank Negara Malaysia as a reporting body for the digital currencies.
Benefit of Luno
- It’s makes safe and easy to buy, store and learn about cryptocurrencies in Malaysia.
- It’s a better way to move money
- It’s true financial freedom
- New type of investment
Why are people from all over the world choosing Luno?
- Trusted – Luno is early industry pioneers and have been around since 2013, and its successfully processed more than 8 billion dollars in transactions.
- Buit for People – People love their easy-to-use products. From local payment methods to customers support in many different languages, Luno make the best one.
- Global expertise– Luno’s team has worked all over the world for top tech and finance companies such as Google, Amazon , Morgan Stanley and Baclays. Plus they are backed by some of the world’s to investors.
- Secure– Its built some of the world’s most sophisticated Bitcoin security systems and have never been compromised.
Privacy and Security
In the light of the spate of hacking activities that have been going on, Luno takes the security of its exchange very seriously. To safeguard the funds stored on the exchange, Luno has taken the following security initiatives:
- Deep Freeze Storage – The bulk of the Bitcoin funds are kept in cold storage in multi-signature wallets. Private keys are stored in different locations in different banks.
- Encrypted Backup Wallets – As a further security precaution, Luno also encrypts the wallet backups.
- Multi-Signature Hot Wallet – The hot wallet used to facilitate instant withdrawal is a multi-signature type. This means no single party will have control over the wallet as the private keys are held by different parties.
- Passwords – Luno stores all passwords in hashed form. Users are also required to provide a strong password when signing up for an account at Luno.
- Two Factor Authentication – An additional layer of protection is provided through Two-factor Authentication. Your smartphone will generate a one-time code to authenticate any transaction.
- SSL Secured Channels– All communications and web services are transmitted through SSL secured channels.
- Employee Background Checks – All employees of Luno have to pass a background check before they are employed.
Where is It available?
Before beginning, you will need to make sure that your country is supported by the Luno platform.
Currently, Luno is only available to users in:
- South Africa
- Select European countries
While Luno is just one of the many online cryptocurrency exchanges, it offers some unique features. This has made Luno especially popular in countries such as Indonesia, Malaysia, and Nigeria.
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