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ETH 1.06%




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CryptoUnits - 1539+ Best Cryptocurrency Websites & Bitcoin Sites List of 2023!

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Luno Wallet 0

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Overview of Luno Wallet

Originally branded as BitX, Luno wallet has been established since 2013, giving it a long history in the cryptocurrency industry. The wallet currently supports Bitcoin and Ethereum, which is a limited range compared to other wallets. However, Luno's key differentiator is its focus on supporting local currencies, making it popular in emerging markets in Asia and Africa. Users can connect their local bank accounts and deposit currencies such as ZAR, IDR, MYR, and NGN. Luno also enables instant buying and selling of cryptocurrencies.

Features of Luno Wallet

Luno offers some advantageous features for users, including the ability to send cryptocurrency via email addresses or phone numbers, eliminating the need for dealing with complex cryptocurrency addresses. Users can also enhance security by enabling two-factor authentication. However, Luno wallets lack hierarchical deterministic functionality, do not provide multi-signature options, and their code is not open-source.

Accessibility and Security

Luno can be accessed through web browsers and is available on iOS and Android devices. The platform actively promotes security by reminding users to verify the correctness of the website's URL to prevent phishing attempts.

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Pros & Cons

  • Established since 2013
  • Popular in emerging markets due to its extensive support for local currencies
  • Allows users to instantly buy and sell cryptocurrency
  • Enables users to send funds using email addresses and phone numbers
  • Offers the option to enable two-factor authentication for added security
  • Accessible through web browsers
  • Supports only Bitcoin and Ethereum
  • Requires users to relinquish control of their private keys
  • Does not employ hierarchical deterministic technology
  • Lacks the option for multi-signature functionality
  • Not open-source, limiting the ability to assess its security

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