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Guidance for customers in the US (March 2023)

As announced via email, from 25 April 2023, Luno’s services will regrettably no longer be available in the following states:

  • Arizona

  • California

  • Indiana

  • Kansas

  • Michigan

  • Missouri

  • New Jersey

  • North Dakota

  • Oklahoma

  • Pennsylvania

  • Tennessee

  • Utah

  • Virginia

  • Wisconsin

  • Wyoming

To make this process as smooth as possible for you, we’ve outlined the steps you can follow below.


What you’ll need to do

We ask that you please clear your account of any crypto or money by 24 April 2023.

To do this, you can either send your crypto out to another wallet or exchange, or you can sell your crypto and withdraw the money.


Option 1: You can send crypto out to another exchange or wallet

If you're choosing this option, follow the steps below.

Note

We recommend you send out your crypto well ahead of the 24 April deadline. For security reasons, there’s a waiting period to enable crypto sends, and there are also daily send limits to keep in mind.

For added security, cryptocurrency sends are disabled by default. You can enable sends in two ways:

  • By selecting SEND anywhere in the app

  • Or by navigating to Profile, then Security and enabling it from Send cryptocurrency

Once you’ve authorized this action, there will be a waiting period before sends are enabled.

Tip

Before sending a large amount of crypto, it’s best practice to make a test send. Crypto transactions are irreversible, so send a small amount first to confirm that you’ve got the correct address and that your funds arrive as expected.

How to send

  1. Go to your Wallets screen

  2. From the menu near the top, select SEND

  3. Choose the cryptocurrency you’d like to send

  4. Paste in the wallet address you want to send crypto to

  5. Enter the amount you want to send and select NEXT

  6. Review the transaction and select CONFIRM

  7. Authorise the send via email or push notification

Tip

Follow this link to learn more about how to send crypto.


Option 2: You can sell your crypto and withdraw money to your bank account

Here's how:

  1. Go to your Wallets screen

  2. Under YOUR INVESTMENTS, select the wallet for the crypto you want to sell

  3. Select SELL from the menu at the top of the crypto wallet

  4. Choose USD wallet from the currency options

  5. In the Amount field, select MAX to sell the full amount, then press NEXT

  6. Finally, select CONFIRM to complete the sale

Repeat these steps for all crypto wallets that have a balance.

Tip

You can find a step-by-step video guide for selling crypto in this article.

Here's how:

  1. From your Wallets screen, open your USD wallet

  2. Select WITHDRAW from the menu at the top of your USD wallet

  3. Select your bank account (If you haven't linked your bank account yet, you will be prompted to do that)

  4. Enter the amount you’d like to withdraw and select NEXT
  5. You’ll see a screen showing your withdrawal amount and fee. Select CONFIRM to complete your withdrawal
  6. Enter your Luno PIN (if you’re using the mobile app) and you’re all done

Tip

Follow this link for more info about withdrawing money to your bank account.

Need assistance?

We’re here to help if you’re having any trouble withdrawing your funds. Get in touch with us here.


What happens after 24 April?

On 25 April 2023, your Luno account will be closed, and you’ll no longer have access to it. Any crypto you have left in your account will be sold at the prevailing market price. The money in your Luno Wallet will then be returned to your verified bank account. If you have not yet linked a bank account and we can’t contact you, money may be handed over to your state for safekeeping

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