Home » Investment » Cryptocurrency » Luno Malaysia Review (with Apr 2024 RM75 Promo Code)

Luno Malaysia Review (with Apr 2024 RM75 Promo Code)

In this Luno Malaysia review, I’ll share all I know based on my experience using the crypto platform.

This includes Luno’s features and benefits, and how you can get RM75 worth of Bitcoin using my Luno Promo Code (PAWHVW, valid through 2024, applicable to all Luno participating countries).

Table of Contents

[Disclaimer: I am not a certified financial planner. My sharing is purely based on my own research and personal experience. To make the best financial decision that suits your own needs, you must conduct your own research and seek the advice of a certified financial planner if necessary]

Luno Promo Code

Many of my readers are here for the Luno promo code. So, let’s start this Luno Malaysia review with the latest Luno promo code.

First of all, do not enter any Luno referral code without knowing the details. Because once you’ve entered a Luno code, you can’t enter another code that come with better rewards (Hints: Look for Luno Level 3 promo code that comes with the highest referral reward – RM75 in Bitcoin).

Remember to verify the Luno code through its referral link such as my Luno referral link where you can see the code and the free Bitcoin rewards.

The Luno promo code in this review is valid through 2024 and confirmed works!

Make sure you enter the Luno referral code at the ‘Reward’ tab and aware of the requirements to claim the Luno reward code successfully.

Luno promo code PAWHVW (RM75 in Bitcoin)

Currently, I am a Luno Level 3 user.

That means, when you register for Luno and enter my Luno promo code, PAWHVW, both of us are eligible for RM75 in free Bitcoin (highest Luno reward code).

Luno promo code PAWHVW worth RM75 free Bitcoin rewards.
Luno promo code PAWHVW with RM75 free Bitcoin rewards

As mentioned earlier, you may check the validity of the above screenshot through my Luno referral link. You will be able to see the Luno code and the details of the offer.

To redeem the RM75 Luno rewards, all you need to do is:

  • Register for Luno Malaysia (web-based or app);
  • Enter my Luno promo code PAWHVW at the ‘Rewards’ tab;
  • Deposit and buy RM250 of cryptocurrency through Luno Instant Buy (Luno Wallet).

Once you’ve completed the RM250 cryptocurrency purchase, both of us shall be rewarded with RM75 in Bitcoin.

At the moment, the above Luno code that offers ‘buy RM250 receive RM75 Bitcoin rewards‘ is the best Luno signup bonus offered. To compare, the standard Luno signup bonus is ‘buy RM250 receive RM25 Bitcoin rewards‘.

This means you shall receive additional RM50 rewards in Bitcoin (or 30% returns on investment) when you register and redeem through my Luno promo code.

Thus, sign up now and apply the Luno promo code today to redeem RM75 referral rewards in Bitcoin.

Although at the moment there is no specific duration or expiry date to complete the minimum crypto purchase, do take note that Luno reserves the full right to amend the term and conditions of the Luno referral program.

So, it’s best to complete the minimum purchase as soon as possible to receive the signup bonus.

Further details on how to use the Luno promo code as below.

How to use the Luno promo code?

Once your Luno account is approved, immediately redeem your Luno promo code for RM75 worth of Bitcoin.

To redeem the Luno code, click on the ‘Rewards‘ menu on the Luno webisite or app.

Then, look for the Enter Code‘ tab and enter my Luno promo code PAWHVW. Click ‘Apply Code‘.

Here is the screenshot to redeem through the Luno website or Luno app.

1. Look for Luno ‘Rewards’ tab

On Luno’s ‘Rewards‘ tab, look for the ‘Enter Code‘ tab.

Luno's Rewards tab where user can enter a promo code.
Luno‘s Rewards tab

2. Enter the Luno promo code

Add my Luno promo code PAWHVW as shown in the screenshot below.

Adding a Luno promo code to the reward tab.
Enter my Luno promo code PAWHVW

3. Take note of Luno’s ‘Get your reward‘ screen

Once you click ‘Apply Code‘, the next screen on the Luno app should show something like the ‘Get your reward‘ screen below, an example based on the previous Luno promotion.

Luno promo code activation screen.
An example of a successful Luno promo code activation screen (previous promotion)

As long as you see the ‘Get your reward‘ screen above with ‘Buy MYR 250 worth of crypto‘ and ‘You get MYR 75 in Bitcoin‘, it means your RM75 promo code is successfully activated.

4. Buy a minimum of RM250 of crypto through Luno Instant Buy (Luno Wallet)

Next, you may continue to click ‘Buy‘ and make your first deposit to Luno Wallet. Or, you may make the deposit when you are ready to do so.

Once your crypto purchase through Instant Buy reaches RM250, you’ll see another screen, mentioning you’ve been rewarded with RM75 in Bitcoin. At the same time, you’ll receive an email notification from Luno, mentioning the Bitcoin rewards.

Previously, the Bitcoin rewards immediately credited into our Luno Bitcoin wallets. But now, there’s a 30-days waiting period before the RM75 Bitcoin rewards available for use.

Thus, the sooner you complete the minimum purchase, the sooner you’ll receive the free Bitcoin rewards.

Important notes on the RM75 Luno promo code

Do take note of some of the T&Cs to be eligible for the RM75 Luno code:

  1. Applicable to new Luno Malaysia users
    • including existing Luno users who have not made any transactions through Luno Instant Buy.
  2. You MUST enter my Luno promo code PAWHVW at the ‘Rewards‘ tab.
  3. Buy RM250 of cryptocurrency through Luno Instant Buy (Luno Wallet)

Other details that might help you to redeem the RM75 Luno code successfully:

  1. You can buy RM250 crypto in one transaction or buy in a few transactions until you hit the RM250 crypto threshold.
  2. You can buy any cryptocurrencies offered by Luno.
  3. The promo code is not valid on the Luno Exchange.
  4. The promo code cannot be combined with other promotions.

For any issue that you can’t find on Luno Help, you may write a support ticket to Luno through the Luno customer support link.

The complete Promo Rules are available on Luno’s website, under Luno Rewards.

Just in case you’re having any questions about my Luno promo code, please leave a comment below or send me an email. I’ll get back to you as soon as possible.

(Note 1: To check the latest Bitcoin rewards and minimum crypto purchase amount, click on my Luno referral link. Remember to enter my Luno promo code PAWHVW in the “Rewards” tab.)

(Note 2: Readers who had entered my previous Luno promo code LNMICH50 (buy RM500, receive RM50 Bitcoin rewards), you are still eligible for the RM50 Bitcoin rewards.)

Luno promo code PAWHVW (applicable globally to all new Luno users)

My Luno referral code PAWHVW is also applicable globally to all new users where the Luno service is available.

For example, if you are a Luno users in Australia, Indonesia, South Africa, or the United States (US) and you are looking for a Luno referral code, you may use my Luno code PAWHVW.

Here is the list of the countries where the Luno service is available:

  • Australia
  • Europe
  • France
  • Indonesia
  • Malaysia
  • Nigeria
  • South Africa
  • Uganda
  • United States
  • United Kingdom

For the updated list, you may refer to the country listing on the Luno website.

Do take note that the Bitcoin rewards and the minimum crypto purchase rewards vary, depending on the participating countries.

To know the Bitcoin rewards, click on my Luno referral link.

And to redeem the signup rewards, you must enter my Luno referral code PAWHVW on the ‘Rewards‘ tab. Then, follow the requirements on the promotion screen.

Luno promo code after the first transaction

If you forgot to enter a Luno promo code upon registration and had made transactions using Luno Instant Buy (Luno Wallet), you are still eligible for the Bitcoin rewards if you are within the 14-day grace period upon signing up.

So, you can use my Luno promo code PAWHVW for the RM75 signup bonus in Bitcoin.

With the Bitcoin rewards, I hope you’ll find the Luno promotion exciting and encouraging.

If you’ve questions regarding the invite code, please comment below. I’ll try my best to assist. Or, you may reach out to the Luno customer support team.

Who is Luno Malaysia?

Now, let us learn more about Luno Malaysia.

Luno is a leading global cryptocurrency platform with its headquarters in London and a local presence in the countries below:

  • Malaysia
  • Capetown, South Africa
  • Kuala Lumpur, Malaysia
  • Johannesburg, South Africa
  • Jakarta, Indonesia
  • Lagos, Nigeria
  • Sydney, Australia

As of the time of writing, the service is available in more than 40 countries, including Malaysia.

Next, what is a cryptocurrency, or crypto in short?

It is a type of currency that appears in digital format instead of the physical paper money we use daily.

This means you can’t physically hold a cryptocurrency, but you will be able to see it through digital devices such as smartphones, laptops, desktops, or tablets.

Just like paper money, you can use cryptocurrency as a medium of exchange.

Some of the well-known cryptocurrencies include the following:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple XRP (XRP)

One of the ways to own cryptocurrency is to buy through a crypto platform such as Luno.

Thus, Luno is a digital platform where its users can safely and easily buy, store and learn about cryptocurrencies.

Is Luno Malaysia legit and safe?

With the happenings in the crypto space such as the FTX collapse, Voyager, and Celcius Bankruptcy, crypto investors are becoming more cautious about the safety of their crypto assets.

This is a good thing.

As crypto owners and crypto investors, we should prioritize the safety of our crypto assets.

If you are wondering if Luno Malaysia is legit and safe, here are my thought about it.

Luno Malaysia has full approval from SC

The main reason I registered for a Luno account is because Luno received full approval from Securities Commission Malaysia (SC) to operate as a registered Digital Asset Exchange (DAX) operator in Malaysia.

Luno Malaysia is regulated by Securities Commission Malaysia.
Luno is regulated by the Securities Commission Malaysia (SC)

In fact, Luno is the first cryptocurrency exchange approved by the SC to run a DAX in the country.

Are you curious about the details of the approval? You can read the SC guideline on digital assets on its website.

With SC approval, I feel more confident when buying cryptos such as Bitcoin through Luno Malaysia. I believe the approval shall reduces some of the risks of my Bitcoin investment.

Luno Malaysia shares proof of reserves

As a crypto exchange where it acts as a custodian for its customers, Luno knows the importance of transparency. Thus, Luno Malaysia shares its proof of reserves on its website and app.

This improves my confidence in Luno.

What are the coins available on Luno Malaysia?

Compared with other approved DAXs in Malaysia, Luno is the crypto exchange that support the most cryptocurrencies.

Currently, these are the cryptocurrencies available on Luno Malaysia platform:

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Bitcoin Cash (BCH)
  • Ripple XRP (XRP)
  • Litecoin (LTC)
  • Cardano (ADA)
  • Solana (SOL)
  • Chainlink (LINK)
  • Uniswap (UNI)
  • Avalanche (AVAX)
  • Polygon (MATIC)

Any new coins added, shall be updated in this review.

You may also join the official Luno Malaysia Facebook group for the new coin offerings and the recent happenings in Luno.

What are Luno Malaysia fees?

This Luno Malaysia review is incomplete without mentioning its transaction fees.

Below are the fees for the Luno Malaysia platform.

Deposit fees

Luno offers free deposits for RM100 and above.

For a deposit below RM100, there is a flat rate of RM1 fee per transaction.

Deposit and withdrawal limit

The deposit and withdrawal limits are based on the verification level below:

  • Verification Level 1: Confirm your mobile number and your basic personal details
  • Level 2: Submit a photo or scan of your government-issued ID and a selfie photo
  • Level 3: Enter your residential address and select your employment status, occupation, and source of funds

The screenshot below shows the deposit and withdrawal limits for the crypto exchange.

RM10,000 (per month) deposit and withdrawal limit for level 2 user while RM300,000 (per month) deposit and withdrawal limit for level 3 Luno Malaysia users.
Luno Malaysia deposit and withdrawal limits

Instant buy/sell fees

For Instant Buy/Sell using the Luno Wallet, the fee is 2%.

Luno Malaysia instant buy and instant sell fee is 2%.
Luno instant buy/sell fees

You will be able to see the 2% fees before you confirm your buy or sell order.

If you wish to save on fees, you may consider using the Multi-Buy feature that offers 1.75% fees.

Fees for sending crypto from the Luno wallet

For sending crypto from your Luno wallet, take note of the fees as per my screenshot below.

Sending crypto from Luno wallet has a dynamic fees except 0.03% for Ripple XRP and no fee for sending to email address or mobile number.
Send crypto fees

Dynamic fees mean the fees vary depending on the network traffic.

Fees for receiving crypto to Luno wallet

For receiving cryptos to its wallet, Luno charges an equivalent transaction fee if you receive 0.000100 or lower Bitcoin to your BTC address.

It is free to receive crypto to Luno wallet except for receiving BTC 0.000100.
Luno’s receiving crypto fees

The equivalent transaction fee for receiving BTC 0.000100 and lower is to combat dusting attacks. A dusting attack is a tactic used by hackers and scammers to determine the identity of the person or company behind a crypto wallet.

Withdrawal fees

Luno withdrawal fees (from Luno wallet to bank account through Interbank GIRO) is RM0.10 per transaction.

Trading fees

Below is Luno Exchange’s trading fees based on the Maker and Taker fee model.

Luno Exchange trading fees
Luno Exchange’s trading fees

Generally, Maker fees are between 0% to 0.35% depending on the assigned tier based on the total 30-day trading volume.

As for market Takers, the fees are between 0.13% to 0.60% depending on the assigned tier based on the total 30-day trading volume.

All the above-mentioned fees might change from time to time. Thus, it is best to refer to the fee schedule on the Luno website.

How to buy Bitcoin through Luno Malaysia?

Through this Luno Malaysia review, let me share how to buy Bitcoin via the Luno wallet aka Instant Buy.

As cryptocurrency is often related to volatility and risk, before you proceed to buy or invest in Bitcoin or other altcoins (digital currency other than Bitcoin) via Luno, please take two minutes to read through the Luno Risk Warning page.

1. Register for Luno Malaysia

First, register for a Luno Malaysia account.

As for me, I registered for Luno Malaysia back in 2020. I entered a friend’s Luno referral code that offer RM25 Bitcoin rewards with RM250 crypto purchase. After I bought RM250 of Bitcoin, I immediately received the RM25 Bitcoin rewards credited to my Luno wallet.

Here is the screenshot of the free RM25 in Bitcoin:

Screenshot of receiving free RM25 worth of Bitcoin through Luno referral program.
I received RM25 Bitcoin rewards through the Luno referral code

That 0.00090535 BTC signup bonus is worth RM312 when the Bitcoin price was at its recent all-time high of RM347,647.

So, the free Bitcoin you received through the referral program or special Luno promotion could turn into a significant amount in the future.

Thus, don’t miss out on the opportunity to earn free Bitcoin through my Luno referral code PAWHVW (RM75 Bitcoin rewards).

And here’s the process of getting on board Luno Malaysia. You can either register through the Luno app or the Luno website.

Register through the Luno app

  1. Download the Luno app on your device;
  2. Enter your email address;
  3. Create a password;
  4. Choose the country;
  5. Click ‘SIGN UP’;
  6. Check your email inbox to verify your email address.

Register through the Luno website

  1. Click ‘Sign up’ on the Luno homepage;
  2. Enter your email address;
  3. Create a password;
  4. Choose the country;
  5. Click reCaptcha ‘I’m not a robot’;
  6. Click ‘SIGN UP’;
  7. Check your email inbox to verify your email address.

And here is a brief description of the rest of the procedure to complete your Luno Malaysia registration:

  1. Upon signing up, Luno will send you a verification email.
  2. Follow the instructions to verify the email address.
  3. For the Luno Wallet setting, enter your mobile number so that Luno can send you security alerts.
  4. Then, verify your mobile number by entering the one-time password (OTP) sent to your mobile.
  5. If you are using web-based, the next step is to set up Two Factor-Authentication (2FA) for additional security:
    • You can use either Authy or Google Authenticator app for the 2FA.
  6. If you are using the Luno app, the next step is to set up 4-digit codes for confirmation of the transaction.
  7. Lastly, upload two personal documents:
    • Malaysian NRIC (front and back)
    • a selfie

Then, wait for your Luno Malaysia account activation. It can take up to five business days for the verification of documents.

As for my Luno registration, it took about three business days for activation.

2. Deposit money to Luno wallet

When your account is approved, the first thing is to redeem a Luno reward code, such as my Luno code PAWHVW for the RM75 Bitcoin rewards.

Once the unique code is applied successfully, you can start depositing money into your Luno account through FPX, eWallet or bank transfer.

Below are the procedures on how to make a deposit through the FPX Instant Transfer.

1. Go to Luno Wallet. Click on the ‘MYR’. Select ‘Deposit’.

How to make a deposit to Luno wallet as part of Luno Malaysia review.
Making a deposit to Luno wallet

2. Choose the type of deposit.

Making a deposit either through an FPX instant transfer or a Bank transfer.
Luno deposit options

3. Enter the deposit amount.

Entering the deposit amount.
Entering your deposit amount

4. Make sure to deposit from your own account.

Reminder to only make a deposit from own bank account.
Only make a deposit from your own bank account

5. Complete the deposit through FPX.

Making a deposit via the FPX Instant Transfer.
Continue the deposit with FPX Instant Transfer

Once you’ve completed the FPX transfer through your preferred bank, keep a copy of your transaction. The deposit should appear in your Luno wallet within a minute or two.

From my experience, the deposit was reflected immediately after I completed my FPX instant transfer. As for bank transfers, your deposits could take between 2 to 3 business days.

If you are making the deposit for the first time, you may consider depositing a small amount just to try out the whole process.

3. Buy Bitcoin through Luno Instant Buy/Luno Wallet

Below is the step-by-step on how to buy Bitcoin through Luno Instant Buy.

1. Tab on the ‘Wallets‘ on either Luno apps or web-based.

2. Select ‘Buy‘.

3. Choose to buy once-off.

4. Choose how to pay for your Bitcoin.

Choose ‘MYR Wallet‘ if you are buying Bitcoin for the first time on the Luno platform. You might need to create a Bitcoin wallet to store your Bitcoin if you haven’t created one.

5. Enter the amount you wish to buy.

How to buy Bitcoin through Luno Instant Buy as parts of Luno Malaysia review.
Buying Bitcoin through Luno Malaysia Instant Buy feature

You can enter the amount in MYR or in BTC.

6. Buy order confirmation screen.

Luno's buy order confirmation screen.
Luno Malaysia’s buy order confirmation screen

7. Confirm your buy order.

Once you’ve checked and are satisfied with the order confirmation details, click on ‘CONFIRM’.

8. Successfully bought Bitcoin.

Next, you’ll see a screen mentioning you’ve successfully bought the amount of Bitcoin.

Successfully bought MRY1 worth of Bitcoin through Luno Malaysia.
Successfully bought Bitcoin through Luno Malaysia

9. View the Bitcoin balance in your BTC wallet.

A transaction showing newly bought Bitcoin in Luno Bitcoin wallet.
Newly bought Bitcoin in Luno’s Bitcoin wallet

Finally, you can now view the newly bought Bitcoin in your BTC wallet.

If you are buying for the first time, I would suggest trying out your first purchase in a small amount, just to experience the buying process.

After all, Luno allows you to buy Bitcoin with just RM1.

The buying process will be the same for other cryptos available on the platform. Do take note that you’ll need to store each crypto in its own wallet.

How to withdraw money from Luno?

Once you’ve made some good profit from your Luno crypto investment, you might be wondering how to withdraw your money from your Luno wallet to your bank account.

In this Luno Malaysia review, let me show you the complete withdrawal procedure.

Luno Malaysia withdrawal procedure

The step-by-step below is based on my experience.

1. Tab on the ‘Wallets

Luno wallets on mobile web-based.
Luno wallets

2. Choose your ‘Local Currency‘.

Local currency MYR on Luno wallets.
Local currency (MYR) on Luno wallets

In my case, Malaysian Ringgit (MYR). Make sure you have sufficient balance for withdrawal.

3. Tab on the ‘Withdraw‘ button.

Luno Malaysia review with instruction on how to withdraw money from its wallet to bank account.
Luno withdrawal tab

4. Choose which bank you want to withdraw your balance from.

Chose the bank account for withdrawal process.
Chose withdrawal bank

If you have not added your bank account, choose to ‘Add new bank account‘ option.

  • Make sure your bank account name is the same as your Luno account holder’s name.
  • Choose your bank from the drop-down list.
  • Enter your bank account number.

Once you’ve submitted your new bank account details, wait for the Luno team to approve your bank account. Then, you can proceed to make a withdrawal from your wallet.

To expedite your Luno withdrawal, add your bank account details earlier. Preferably right after your account is activated.

5. Enter the amount you wish to withdraw.

Entering withdrawal amount.
Enter withdrawal amount

You’ll see a withdrawal confirmation screen. Check if the details are ok, then click on ‘Confirm‘.

6. Enter your 6-digit 2FA code.

Enter your 6-digit 2FA code to verify your withdrawal request.

7. Withdrawal request completed.

Once you’ve completed the withdrawal request, Luno will immediately send you an email notification.

Next, Luno will send you another email notification mentioning they’ve processed the withdrawal and transferred the amount to your bank account.

How long does Luno withdrawal take?

Luno stated that it can take up to two business days before the withdrawal amount is reflected in your bank account. This is due to interbank payment schedules.

So far I’ve made several withdrawals from Luno and I received my fund within one day.

What are Luno Malaysia withdrawal fees?

The Luno withdrawal fee is RM0.10 per transaction. The fee is deducted from your Luno Wallet.

What is Luno Malaysia’s withdrawal limit?

Luno’s maximum withdrawal amount is:

  • RM10,000 per month for Level 2 customers.
  • RM300,000 per month for Level 3 customers.
Luno Malaysia maximum withdrawal amount.
Luno Malaysia’s maximum withdrawal amount

And Luno’s minimum withdrawal amount is RM1.

Luno minimum withdrawal based on country.
Luno minimum withdrawal amount

Why is Luno withdrawal delayed?

If your withdrawal is delayed, you can check the timeline of your withdrawal request.

Luno Malaysia withdrawal schedule.
Luno Malaysia withdrawal schedule

Next, check your interbank payment schedules.

What to do if I still haven’t received my withdrawal?

If you are concerned about your delayed withdrawal, you may reach out to the Luno support team through a Luno ticket/inquiry form.

How to expedite Luno withdrawal?

Below are some of my personal tips for a smooth withdrawal procedure:

  • Update bank accounts information right after you signed up for your Luno account. This can save on bank account verification time.
  • Plan your withdrawal (avoid withdrawal during public holidays or weekends, but plan your withdrawal during business days, preferably early in the morning).

Luno features and benefits

In this Luno Malaysia review, I will also share the features and benefits of the crypto platform.

1. Low minimal purchase

As mentioned earlier, you can buy cryptocurrencies with just RM1 through Luno Malaysia instant buy (Wallet).

If you are new to crypto investing, you can first try out the crypto exchange with a small amount. From there, you can decide if you want to include crypto in your investment portfolio.

2. Price alerts

When I first got my Luno account, I immediately created a few alerts. I find that the Price Alerts have been helpful and useful for my Bitcoin investment strategies.

Luno Malaysia review showing Luno price alerts.
Some of my Luno price alerts

As Bitcoin prices swing up and down, I no longer worry about missing out on critical Bitcoin buying or selling opportunities.

3. Attractive Luno referral program

I also find Luno Malaysia offers an attractive referral program through the new tiered Reward Levels.

Luno tiered Reward Levels

Instead of the previous RM25 Bitcoin rewards for every friend or family who successfully signed up through your Luno referral code, now you can earn up to RM75 per referral through the new tiered Reward Levels.

Luno referral program with the new Rewards Levels that offers up to RM75 Bitcoin rewards per referral.
Luno’s Reward Levels

The new tiered “Reward Levels” introduces three different reward levels and rewards you for using Luno:

  • Level 1: Once you signed up for Luno and verified
    • Rewards: Both referral and referee earn RM25 in Bitcoin
  • Level 2: Buy or sell once a month for a total of 6 months
    • Rewards: Both referral and referee earn RM50 in Bitcoin
  • Level 3: Buy or sell once a month for a total of 12 months
    • Rewards: Both referral and referee earn RM75 in Bitcoin

Luno tiered Reward Levels important notes

Here are the important things about Luno’s tiered Reward Levels:

  • The referee must enter your Luno referral code in the Rewards column upon registration.
  • The referee is required to complete the minimum crypto purchase specified (the current amount is RM250).
  • All buy or sell must be through Luno Instant Buy (Luno Wallet).
  • Each new month that you buy or sell crypto counts towards the progress.

Do take note that Luno reserves the right to change or amend the referral program at any time. So, grab the opportunity while it last!

If you are new to Luno, sign up now and use my Luno promo code PAWHVW to receive RM75 Bitcoin rewards when you buy RM250 of any crypto on Luno.

You can find more details on the Luno website for the tiered Reward Levels.

4. Luno Repeat Buy

I also find the auto-invest through the Luno Repeat Buy feature practical and convenient.

Luno auto-invest through the Repeat Buy feature.
Luno’s Repeat Buy feature

This feature is helpful for crypto investor who prefers the dollar-cost-averaging strategy.

5. High performance Luno Exchange

Luno Exchange

Luno Exchange is a great platform for crypto traders and investor to buy and sell cryptocurrencies.

Some of the exchange’s features worth mentioning in this Luno Malaysia review are:

  • Competitive fees structure
  • High security with deep freeze storage
  • Deep liquidity with high volume and many active traders
  • High quality charting tools for better trading experience
  • Fast transactions

Depending on the situations, occasionally I use Luno Exchange to buy and sell my cryptos. Not only I can set my desired buy or sell price, I get to enjoy lower fees as well.

6. Luno Multi-Buy option

The Multi-Buy option is a new feature where users can buy multiple coins in one transaction.

Luno Multi-Buy feature.
Luno Multi-Buy feature

Currently, the Multi-Buy feature offers three options:

  • Preset combo 1 – Luno’s most popular coins (as shown above)
    • consist of Bitcoin, Ethereum and Ripple
  • Preset combo 2 – a piece of everything
    • consist all the coins offered on Luno
  • Choose your own coins
    • you get to create your own favorite coins (a minimum of two coins from all the coins offered on Luno).

Do take note that, when you invest through the Multi-Buy feature, your investment will be split equally across all coins.

Here are the benefits of Luno Multi-Buy feature:

  • Save on fees
  • Convenient
  • Diversify your crypto portfolio

To access the feature, you just need to select the “BUY” tab on “Wallets” for both Luno app and Luno web-based.

7. Crypto staking

Luno also offer crypto staking for Ethereum and Cardano. This is where users earn crypto rewards in a few simple steps.

You may read more about the features in my other blogpost on crypto staking.

Final thoughts

I hope you find my Luno Malaysia review helpful.

At the moment, I believe Luno is the best crypto exchange in Malaysia. Other than approved by the Securities Commission Malaysia, the platform offers many helpful and useful feature for both crypto investors and traders.

If you haven’t signed up for Luno Malaysia, register a Luno Malaysia account today and use my Luno promo code PAWHVW to receive RM75 in free Bitcoin.

Get your Luno account ready, so that you can start investing when the right opportunity comes.

Image credits

Featured image courtesy of Luno Malaysia
All screenshots were taken by the author

24 thoughts on “Luno Malaysia Review (with Apr 2024 RM75 Promo Code)”

    1. Hi Murni,

      Thank you for your comment.

      No, you can’t use my RM50 Luno promo code if you registered through another referral code.

      Because the referral code is activated right when you registered through the other referral code. And these kind of promotion code can only be applied once per user.

      Hope my explanation helps.

    1. Hi, again Zahran,

      My Luno promo code LNMICH50 should be working now.
      You may try to apply it again. Should there be any issue, please let me know.

      Thanks again for letting me know the issue. Really appreciate that. Wishing you a great weekend ahead.

  1. hi michelle, may i know how long does it take for the RM50 to be reflected in the account after hitting the purchase threshold of RM500 pls? many thanks in advance..

    1. Hi Daph,

      Thank you for your comment.

      By using my Luno promo code (LNMICH50), right when your crypto purchase through the Instant Buy feature reaches RM500, you’ll immediately receive the RM50 in Bitcoin. At the same time, you’ll receive an email notification from Luno as well.

      Then, you can view the free Bitcoin in your Bitcoin wallet.

      You may refer to the print-screen in my write-up above, where my husband received the free Bitcoin worth RM49.99 (a difference of RM0.01 due to quick Bitcoin price movement).

      Hope this helps.

  2. When applied LNMICH50 promo code, it prompted “This type of promotion code can only be applied once per person.”

    1. Hi Chin,

      Thank you for your comment.

      My promo code LNMICH50 is only valid for NEW Luno Malaysia customer who has never use any other similar promo code when signing up, including the Luno Refer A Friend promo code.

      For the details of the promo code Terms & Conditions, kindly refer to Luno Rewards and Promotions.

      Hope my explanation above helps.

  3. Hi, I realised that based on the USD price for Bitcoin the exchange rate to buy in RM is about 4.6. Not able to find any info on the site on the exchange rate. Since, you have bought and sell, hope you can share the info on what the exchange rate used when selling. Appreciate it. Thank you.

    1. Hi Mor,

      Thank you for your comment.

      When I registered myself as a Luno Malaysia customer, all my trade (buy/sell) on the Luno platform will be conducted in local currency, that is Malaysia Ringgit (RM). There is no exchange rate involved.

      For example, when I want to sell my Bitcoin, I can either choose based on the Bitcoin amount or the RM amount. And the Bitcoin sell price will be based on the current Bitcoin price published on the Luno Malaysia website. I attached a print-screen below:

      Luno Malaysia Instant Sell Bitcoin

      So, there’s no exchange rate involved for all my trades on the Luno platform.

      Hope this helps. Do let me know if you still have enquiries. Thank you.

    1. Hi Nancie.H,

      Thank you for your comment.

      May I know, after you entered my luno promo code LNMICH50, did you see the next screen showing ‘buy myr500 worth of crypto’ and ‘you get myr50 in Bitcoin’?

      If yes, may I know if your crypto purchase is completed through Instant Buy?

      If yes and if it is ok for you, please drop me an email at yan6500 [at] Gmail [dot] com. I’ll try to guide you further from there.

      Hope this helps.

  4. Hello Michelle, I’ve decided to put don’t $500 on crypto. How much is the fees difference between putting $100 into 5 types of crypto vs all $500 into Bitcoin?

    1. Hi Daniel,

      Thank you for your comment.

      Based on my experience, I was charged about 2% for all my crypto transactions (buy and sell) through Luno Malaysia Instant Buy/Sell feature. I’ve bought and sold Bitcoin, Ethereum, Ripple and Litecoin through Luno Instant Buy/Sell. So, you can do some calculation before confirming your crypto purchases.

      Before you proceed to confirm your crypto purchases, Luno will show you a screen with the service charge stated. You may refer to the print screen in my write up above for the service fee of about RM5.98 (2%) when I tried to buy RM299 worth of Bitcoin on Luno Instant Buy. And for buying Ethereum through the Luno Instant Buy, please refer to another print-screen as below.


      After you agree with the service charge, you may proceed to click confirm.

      Luno also offers buying crypto through Luno Exchange with a different set of trading fees. But, to be eligible for the promo code of free RM50 worth of Bitcoin, the new user is required to complete a minimum of RM500 crypto purchase through the Instant Buy feature. And please take note of all the Terms & Conditions as mentioned in my write up above to be eligible for the rewards of RM50 worth of Bitcoin.

      Hope my explanation above helps. Let me know if you still have any enquiries.

  5. Finally last week Saturday I register,n today been verify account…..so Michelle I have been using ur promo code and I did it first….I have see the same page that it say I did it….lucky yesterday I read your post here……by the way,after I deposit money….should I use instant buy/sell to qualify for the rm50?

    1. Hi Tan,

      Thank you for your comment and for using my Luno Promo Code. Great to know your Luno account is now verified.

      Yes, after deposit your money in Luno wallet, please use the Luno Instant Buy/Sell feature to be eligible for the RM50 free Bitcoin.

      Do let me know if you have further enquiries. Thanks again.

      1. What is the plan u have in Luno? Buy n hold long term? Is there any tax been taxed on the price appreciate or from trade transactions n make a profit? Since it is regulated by SC?

        1. Hi again Tan,

          I mostly buy and hold long term for my cryptos. But, occasionally I do take profits.

          As for the tax part, currently, active traders are required to declare their gains to be taxed.

          For more details, you may refer to the article from The Edge Market, TheWall: Profited from trading bitcoin? Find out if you need to pay taxes.

          Personally, I still think it’s best for crypto owners to keep a proper record of all crypto transactions. Because tax requirements might change from time to time.

  6. I see the withdrawal fee structure only show Giro RM0.10. Can withdraw cryptocurrency? What if I want to transfer my Eth to my cold wallet?

    1. Hi Van,
      Thank you for your comment.

      If you withdraw MYR currency from your Luno Malaysia wallet to your Malaysia bank account through Interbank GIRO (IBG), the fee is RM0.10. It may take up to two business days for the fund to reflect in your bank account.

      From my experience, I made the withdrawal request on a Friday at noon, the request was approved at about 5:30 pm. On that same late evening, the fund is available in my bank account. The fee of RM0.10 was deducted from my Luno MYR wallet.

      As for transferring your ETH to your cold wallet, the fee is ‘dynamic’. This means the fee varies depending on the network traffic.

      Hope my sharing above helps.

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