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Frequently asked questions
Why should I choose Luno?
We're industry pioneers, having been in the cryptocurrency industry since 2013. We've facilitated more than 21 billion USD worth of transactions on our exchange for customers in over 40 countries. Today, we're trusted by over 8 million customers around the world and have received praise for our easy-to-use app, secure wallet, and range of features.
How secure is Luno?
At Luno, the security of your cryptocurrency is our highest priority. We've built one of the world's most sophisticated Bitcoin security systems and have industry-leading processes in place to make sure that these are never compromised.
Do I have to buy a whole Bitcoin?
No. Bitcoin and most other cryptocurrencies are divisible. This means you can buy or sell any amount of Bitcoin and it doesn’t need to be a whole number – whether it’s 0.1 Bitcoin, 1.7539 Bitcoin or something else. It’s completely up to you and your budget.
How do I actually buy Bitcoin?
You can buy Bitcoin through the Instant Buy function on our app, as well as on our Exchange. After you’ve signed up with Luno, you can deposit local currency to your account and then all you need to do is follow the instructions.
Buying crypto with AUD
How do I make a deposit with a Bank Transfer in Australia?
Sign in to the Luno app, select Wallets, then Deposit on your AUD wallet. From there, follow these easy steps:
- From the selection choose Bank Transfer
- Enter the amount you'd like to deposit
- Next, you’ll see a BSB and an account number - these are personalised for you. Whenever you make a deposit to Luno, please use these details
- Log in to your banking app and make a deposit using the bank details provided. You can leave the reference field empty
- Funds can take anywhere from a few seconds up to 2 business days to appear in your AUD wallet – this is dependent on your financial institution
- Once funds have arrived in your wallet, you’ll be able make your crypto purchase
Check out our help centre article for more information on funding your AUD wallet.
Can I use PayID to buy Bitcoin in Australia?
Our PayID deposit method allows Australian customers to deposit money directly into their Luno wallets, instantly. After verifying your identity, you can deposit money into your AUD wallet in a few easy steps. Sign in to the Luno app, select Wallets, then Deposit on your AUD wallet. For the step-by-step instructions check out this help centre article.