Luno Gains 1 Million Active Users In 1 Year - BlockNewsAfrica

Luno Gains 1 Million Users And Expands Services in 1 Year

One of the biggest cryptocurrency exchanges in Africa, Luno, now has 3 million users in over 40 countries.

Luno, a brand initially set up the world’s first fully-integrated crypto wallet and later developed into an exchange experience has seen a lot of growth in the last few years.

The company was started by two South Africans, Marcus Swanepoel, a former investment banker, and Timothy Stranex, who previously worked for Google as a software engineer.

Currently, Luno is headquartered in London with offices in offices in South Africa, Malaysia, Indonesia, Nigeria, and Singapore.

Speaking on the growth of the exchange, Luno’s General Manager, Marius Reiz said that despite Bitcoin’s volatility, cryptocurrency trades continue to rise.

In the last month, more than R80 million worth of cryptocurrency trades have been completed on Luno’s South African platform on a daily basis.

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Marius also went ahead to highlight South Africa‘s contribution to the growth of the platform. He said:

South Africa is one of our strongest markets and appetite for cryptocurrency trades is still growing – we are seeing new Luno customers learning about and buying cryptocurrencies every day. Reaching three million wallets demonstrates the growing adoption of cryptocurrencies across the globe and reinforces our aim of reimagining a financial system where money is cheaper, faster and safer with open and equal access for everyone,

Luno Adds Bitcoin Cash (BCH)

In a press release, Luno announced the expansion of cryptocurrencies offered to its customers, with the adoption of Bitcoin Cash (BCH). Commenting on the reason for adding Bitcoin Cash, Luno stated in their PR:

“There are over 2000 cryptocurrencies in the market. We take our role as a trusted platform very seriously and have therefore always been cautious about new coins. We only add new coins once we are confident of their security, credibility and market traction.”

The addition of bitcoin cash on Luno will allow users to buy, sell and store bitcoin cash on the Luno platform. Bitcoin cash joins bitcoin and ethereum as cryptocurrencies offered on the platform. 

Read Also: Luno Exchange Review and Guide 2019

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BlockNewsAfrica is a Ghanaian based media company that will provide information and data on the developments in the cryptocurrency and blockchain technology industry on the African Continent.

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