Luno makes it safe and simple to buy cryptocurrency (or crypto, for short). Find out how to do this below.
Tip
Are you completely new to crypto? Want to learn a bit more about it before you buy? We have you covered. Check out our Luno Discover to gain some crypto knowledge, then come back here whenever you’re ready.
How to buy cryptocurrency
If you’ve just signed up for a Luno account, welcome! Here’s how you can buy crypto in three easy steps:
Step 1: Verify your identity
Before you can make any transactions, we need to know a little bit more about you. If you haven’t already provided your details and documents to verify your identity, head over to Profile > Settings > Verification to get started.
Step 2: Make a deposit
Once you’re verified, you’ll need to fund your account with some regular money to buy crypto. To do this:
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Select Wallets from the menu
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Open up your local currency wallet
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Select DEPOSIT to get started
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Then follow the on-screen prompts to complete your deposit
Note
In some of our supported regions, you can buy crypto instantly without making a deposit first. For more info, click on the links below:
Step 3: Time to buy!
Now that your Luno account is funded, you can buy crypto by following these steps:
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Select Wallets from the menu
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Select the wallet for the crypto you want to buy (or add a new wallet if you don’t see the one you want)
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In your crypto wallet, select BUY near the top of the screen
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Decide whether you want to make a Once-off purchase, or set up a Repeat buy
If you selected Once-off:
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Choose the currency you want to pay with
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Enter the amount you want to buy
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Select NEXT
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Review your transaction details, including the service charge fee, then select CONFIRM
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If you selected Repeat buy:
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You’ll see a screen that briefly explains repeat buy. Select NEXT
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Enter the amount you want to buy in local currency
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Choose the Frequency and the Repeat date
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Select NEXT
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Then select CONFIRM if you’re happy with the transaction details
Congrats! You now own some crypto.
Frequently asked questions
Yes, you’ll pay a service charge when you buy crypto. This is a dynamic fee that varies depending on how much you’re buying and what the current market conditions are. We’ll show you the exact service charge before you confirm any transaction.
That’s completely up to you. At Luno, we don’t provide financial or investment advice. Consider how much or how little you’re personally comfortable spending and don’t invest any money that you can’t afford to lose.
The choice is yours. Each cryptocurrency has its own unique characteristics. You could focus on one or spread your funds out across many cryptocurrencies with multibuy, which enables you to buy all our supported coins at a reduced fee in one transaction.
There are multiple options available. You can:
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Buy some more crypto at a later date (or set up a repeat buy to do this for you automatically)
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Sell it any time (you can also create price alerts to notify you when it hits a certain price)
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Send some to a friend
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Or you can simply sit back and leave it