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How do I buy or sell Bitcoin?

To buy Bitcoin with Luno you need to have done two things:


Luno provides two ways to buy Bitcoin:

  1. Instant buy or sell (easy to understand, simple to use)

  2. Exchange order (more complex, more control)

1. Instant buy or sell

This feature allows you to instantly buy bitcoin at the current exchange rate.

Instant buy step-by-step guide

Select “Buy” or “Sell” from the top navigation on the home screen. You may have to click on the MORE button to see these options.

 

You will then see the Instant buy or sell page:


Steps:

  1. Make sure the BUY button is selected

  2. Choose the currency (your local currency or BTC)

  3. Enter the amount (in this demo, we are buying 0.01 BTC, which cost ZAR 114.95)

  4. Review the transaction (which shows the exchange rate and the amount of Bitcoin you'll receive)

  5. Click BUY


Choosing the currency:

  • If you choose BTC, you enter the amount of Bitcoin you want to buy and we'll tell you what it costs

  • If you choose your local currency, for example ZAR, you enter the amount of ZAR you want to spend and we'll tell you how much Bitcoin you can get for that amount


You'll notice a timer running down. Luno provides the current exchange rate for the transaction and it remains valid for one minute - as long as the timer bar takes to run out.


After your trade order has executed, you will see the Bitcoin reflects in your wallet. You can click on the transaction for more information:

2. Exchange order

This feature is for more advanced users. 


A limit buy order allows you to select a price at which you want to buy your Bitcoin. This order stays pending until the market (a Bitcoin seller in this case) reaches your price. Limit orders are done from the Luno exchange page.


To learn more about the Luno Exchange and how such a system works, click here.

Related articles

How do I deposit money?

How long until my deposit or withdrawal is processed?

What does it cost to use Luno? Does Luno charge any fees? 


Contact us for more help

It’s never too late to get started with Bitcoin. Learn, buy and use Bitcoin with Luno now.

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