Luno is arguably the OG of centralised cryptocurrency exchange in Malaysia. If you’ve just recently started exploring crypto like Bitcoin and Ethereum, there is no better exchange I can think of for beginners. Read my exclusive Luno Malaysia review article to find out how to get started buying your first RM250 in Bitcoin and get RM25 as bonus.

Luno Malaysia Review

What is Luno?

Luno is a cryptocurrency exchange which started its operations in Malaysia in 2019. It was one of the first to be granted Securities Commission Digital Asset Exchange license. Luno is backed by Digital Currency Group.

How does Luno Malaysia work?

Luno is a centralised exchange based on order book. This means that it operates an exchange based on buy and sell orders posted by traders like you and me. These orders are aggregated then matched.

Luno Malaysia operates 24/7 so you can buy and sell Bitcoin anytime of the day. However, do bear in mind that liquidity issues may occur if you trade outside of active hours as there may be fewer buyers or sellers available that can match your orders.

What pairs does Luno Malaysia support?

As of the time of writing, Luno Malaysia only supports the following cryptocurrency:

• Bitcoin
• Ethereum
• Ripple
• Litecoin
• Bitcoin Cash

This is in stark contrast to many of the unregulated exchanges like Binance or Huobi which offers hundreds if not thousands of pairs to purchase.

How does Luno make money?

Luno makes money every time someone trades. Each trade incurs a fee which goes to Luno. This fee varies, depending on your tier volume, and whether you are buying or selling the crypto. Luno imposes a maker fee when you post an order, and a taker fee when you fill an order.

Advantages of Luno Malaysia

Even if Luno doesn’t support many cryptos currently, there are certain advantages when you buy via Luno:

1. Luno is licensed by Securities Commission Malaysia, so should the unfortunate happen, you can get legal recourse
2. Currency pairs are quoted in MYR, so you save the hassle of loading you account with a USD stablecoing like USDT. Fewer steps mean better user experience

Disadvantages of Luno Malaysia

1. The type of cryptos supported is very limited
2. Fees are slightly higher compared to non-Malaysian centralised exchanges

Advanced tips for using Luno

There are a lot of ways you can use Luno Malaysia as a power user. I list out a few below:

1. Use the Exchange instead of Instant Buy / Sell to save on fees. Fees start from 0.5% and trend lower on the exchange instead of 2% if you use the Instant transaction feature.
2. Use Post-only order type on the exchange so you don’t have to pay Taker fee.
3. If you have the capital and the patience, use Arbscanner by Sinegy to see if there are any profitable arbitrage opportunities between the different exchanges in Malaysia like Tokenize and Sinegy. As long as the margin is good (more than 2%), arbitrage can be a good side income. As this is a Luno Malaysia review article, I won’t go too in-depth on the mechanics.
4. If you are an active user of other exchanges such as Binance, you can topup your wallets there by buying XRP, send it to Binance and sell it for USDT. This is an alternative to the P2P and credit card topup options. Ripple transfer fee is cheap.

How to register for Luno Malaysia?

That’s easy! You can register by clicking on this button below:

Luno Malaysia Bonus

Did you know if you sign up through the link above, you can get extra bonuses? Here’s how:

1. Sign up with my invite link
2. Deposit and buy MYR 250 in BTC (using the instant buy feature, Luno Exchange not included)
3. We both get MYR 25.00 free BTC!