In this post, I will show you the best 5 alternatives to Luno.
Luno, formally known as Bitx is the most used exchange in SouthAfrica. It also holds the second position in Nigeria in terms of trade volume coming only behind Remitano.
Luno supports 3 cryptos (BTC, BCH and ETH), it is present in 44 countries, has high liquidity and a very efficient and friendly interface in both web version and mobile apps.
I have done an extensive review of Luno in the past with a demo video on how to trade profitably on the platform.
However, in this post, I will be showing you the best 5 alternatives you can use in its stead.
Let’s dive right in
Top 5 Alternatives to Luno
Note: My selections are from exchanges that share similar characteristics as Luno or even better.
Also, I have extensively used each of the exchanges listed below.
1. Quidax
This a top Luno alternative based in Nigeria.
The two exchanges are very similar, they both support; instant buy/sell, trade room and crypto storage.
Also, deposit and withdrawal on Luno and Quidax are both instant.
However, Quidax’s edge over Luno is that it supports 3 more cryptocurrencies that Luno. While Luno’s edge over Quidax is that it has more liquidity, present in more countries and has a solid mobile app.
The table below shows more comparisons.
You can also read my review of quidax here => Quidax Review & Comparison – 7 Key Things to Know About the Fastest Growing Exchange
| LUNO | QUIDAX | |
| Supported Cryptos | BTC, ETH | BTC, ETH, XRP, LTC, BCH, BTG, DASH |
| Supported Countries | 44 Countries | Nigeria |
| Exchange Type | OTC, Trade room | OTC, Trade room |
| Customer Support | Good: LiveChat, Email, Twitter, Facebook. | Good: Email, Twitter, Facebook. |
| Coin Storage | Yes | Yes |
| Mobile App | Yes | Yes |
2. Remitano
Remitano holds the number 1 position in trade volume in Nigeria.
More cryptocurrencies are traded on Remitano in Nigeria than in any other exchange.
This exchange does not run the same business model as Luno instead it does a peer to peer.
Unlike Luno were I am limited to a maximum deposit and withdrawal of N10 million in bitcoins ( EUR 100,000) per month, It is unlimited in Remitano since it peer to peer.
Note that the limit on Luno only applies to fiat money (NGN, EUR, ZAR, etc) deposits and withdrawal. it is unlimited to for crypto deposits. Also, I can increase my limited by opening a business account.
These limits might be one of the reasons why Remitano has more trade volume that Luno in Nigeria.
other services offered on remitano include; invest and instant swap.
You can read my full review of remitano here => Remitano Review (2020 Update) – The Complete Review & Comparison
| LUNO | REMITANO | |
| Supported Cryptos | BTC, ETH | BTC, ETH, BCH, LTC. USDT, XRP |
| Supported Countries | 40 Countries | 60 countries |
| Exchange Type | OTC, Trade room | P2P |
| Customer Support | Good: LiveChat, Email, Twitter, Facebook. | Good: LiveChat, Email, Twitter, Facebook. |
| Coin Storage | Yes | Yes |
| App Type | Yes | Yes |
Also read: Remitano Vs Luno
3. Binance
Binance is one of the top 5 crypto exchanges in the world in terms of trade volume and liquidity. It was founded in 2017.
It supported over 300 crypto, over 600 trading pairs, multiple payment methods and a solid trade room.
On a candid note; every serious crypto trader should have a Binance account.
Binance in 2019 launched a campaign in Africa to increase crypto adoption.
Binance has everything Luno has and much more. but for a newbie, it could be overwhelming.
Read my full review of Binance here => Binance Trading Platform:- My Amazing Review
| LUNO | BINANCE | |
| Supported Cryptos | BTC, ETH | Over 300 |
| Supported Countries | 40 Countries | Over 150 |
| Exchange Type | OTC, Trade room | Trade Room |
| Customer Support | Good: LiveChat, Email, Twitter, Facebook. | Good: LiveChat, Email, Twitter, Facebook. |
| Coin Storage | Yes | Yes |
| App Type | Yes | Yes |
4. Coinbase
Coinbase is one of the first bitcoin storage and exchange.
My first bitcoin wallet was on Coinbase and I still use it to this day.
However, I cannot use Coinbase to buy and sell bitcoin directly on Coinbase because the feature is not supported in Nigeria.
But, if you are in the USA or Europe then Coinbase is a perfect alternative to Luno.
Coinbase has exchanged over $600 billion worth of cryptocurrencies and serving over 20 million users.
Read my full review of Coinbase here => Coinbase Review(2020)| How Safe Is it?
| LUNO | COINBASE | |
| Supported Cryptos | BTC, ETH | BTC, ETH, BCH, LTC |
| Supported Countries | 40 Countries | 42 countries |
| Exchange Type | OTC, Trade room | OTC |
| Customer Support | Good: Live Chat, Email, Twitter, Facebook. | Good: ChatBot, Email, Twitter, Facebook. |
| Coin Storage | Yes | Yes |
| Mobile App | Yes | Yes |
Also read: Coinbase Vs Luno
5. Coindirect
Coindirect is a South African Exchange launched in 2018. This exchange combined the features of Luno and Remitano.
It also supports more cryptocurrencies and countries than these two exchanges combined.
Users can buy and sell bitcoin by a P2P system or through a debit/credit card (SA only).
A user can also trade, swap and store over 34 other cryptocurrencies.
Coindirect also has an App for more flexibility. Coindirect is one of the best alternatives to Luno.
However, Coindirect has its downs. Depending on your country, the trading volume might be low.
This will definitely improve with more users joining. Also, unlike Luno where you can buy bitcoin using credit card/debit card of your country, you can only do this if you are in South Africa. Outside South Africa, you can only buy and sell via P2P.
Read my full review of Coindirect here => Coindirect Review: Buy And Sell Over 42 Different Cryptocurrencies
| LUNO | COINDIRECT | |
| Supported Cryptos | Bitcoin, Ether, Bitcoin Cash, Litecoin, and Ripple | Bitcoin, ETH and 33 others |
| Supported Countries | 40 Countries | 131 Countries |
| Exchange Type | OTC, Trade room | OTC, P2P, Trade room |
| Customer Support | Good: LiveChat, Email, Twitter, Facebook. | Average: Email, Telegram, Twitter, Facebook. |
| Coin Storage | Yes | Yes |
| Mobile App | Yes | Yes |
Conclusion on Top Luno Alternatives
Here you have it. These are my top 5 Luno alternatives. These exchanges offer a similar experience as Luno with some variation depending on your needs.
You can create an account with these exchanges to get a feel of it before you make a choice, it’s free.
If you are not in Nigeria, Quidax might not support features such as BUY & SELL but allow you to use its wallet for free.
However, outside Nigeria, Binance, Coindirect, Coinbase, and Remitano are superb alternatives.
That said…
Do you think I missed anything? Or maybe you have a question for me…..
Let me know right away in the comment section below.
Regards.
Also read:
this review is affiliate marketing oriented_ with luno u can link any naija bank with & receive alart without having to link atm card but binance doesn’t
Which app is the best time turn your bit coin to Naira bro GI bank
Luno Quidax Binance and Buycoins
please how about Busha wanted to know if its safe to trade there
What is the URL?
Paxful is Luno’s number 1 competitor, why is isn’t it here?
Paxful is a great platform. However, paxful does not function the way Luno does.
Paxful is P2P but luno is not exactly P2P the Paxful is. That is why it’s not included.