If you are looking to diversify your portfolio, chances are that you are looking to invest in crypto. The hype around crypto is growing, and finding the best avenue to invest is by researching. This guide will give you a step-by-step guide on investing in crypto assets from the Luno app. Luno is a regulated crypto exchange platform ensuring your investment is not at risk.
Step 1: Open an Account With Luno
Luno is a Malaysia-based app, but given its decentralized nature, the exchange can be accessed from most countries that have not outlawed crypto. The mobile app is available on the App Store and the Google Play store. The website version offers more functions compared to mobile apps.
Signing up is straightforward and involves standard account opening procedures such as secure passwords and email. The app is highly regulated, and users need to follow some KYC procedures, which include uploading a selfie and your ID to complete the process.
Step 2: Familiarize Yourself With The App
The app is very well-designed, and the user experience is top-notch. As a user of any technology, the interface should be easy. The home screen offers an overview of your account from prices and lets you buy and sell crypto. The wallet function in the app helps users store their crypto and receive and sell crypto like any other wallet.
Step 3: Deposit Fiat
The logical next step is to deposit fiat currency into your wallet. Bank transfers take 2-3 days, while direct deposits are instantaneous.
Users must tap on the wallet icon to deposit and choose their local currency to exchange. Input your preferred amount and click on the deposit button to get started. Follow the prompts on the screen to complete your transaction, and now you are ready to trade.
Step 4: Buying Crypto
Before you proceed, it is essential to note that you can create multiple wallets in the wallets section. It is because you must create a new wallet each time you want to buy a new crypto token. You can add wallets in the wallets section.
To buy crypto on Luno, users click the buy button on the home screen and select between a one-off or recurring purchase, known as a repeat buy. Choose your preferred crypto and the amount in fiat to use. Review the transaction details, and then click on confirm. Congratulations, you are a crypto owner.
How To Buy Multiple Coins in One transaction
The platform recently rolled out a new feature that lets users buy diverse currencies in one transaction and offers some options in the categories. The categories include the most popular coins, a piece of every coin, and choose your combination. The 1.74% fees are charged once, allowing you to save a lot while investing.
The Reasons Why You Should Consider Luno
The platform provides some of the best apps that help users quickly navigate the complexities by keeping it simple. The token’s minimum buy-in is also one of the lowest in the industry, remaining as low as RM1.
In addition, the platform offers some of the most sophisticated and layered security protocols that safeguard all aspects of the platform, including trading and storage of crypto. The biggest draw to the platform is the regulation by the Malaysian government, which protects the investors’ interests.
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