Comparison of Luno vs Bitbns [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Luno vs Bitbns comparison!

Your expert: Alejandro Borja

luno

Luno

  • Threenvest valuation: 3,6/5
  • US legal: Yes
  • Security: High 4,5/5
  • Mobile App: Yes
Go exchange

Your expert: Xavier Tarrasó

Bitbns

Bitbns

  • Threenvest valuation: 3,4/5
  • US legal: No
  • Security: High 4/5
  • Mobile App: Yes
Go exchange

Main points

Fees

≤0,10%

Earns

No

Customer service

4/5
0.25%

Fees

Yes

Earns

3/5

Customer service


Recommended for

Beginners

Yes

Trading

No

Passive income

No

Buy and hold

Yes
Yes

Beginners

Yes

Trading

Yes

Passive income

Yes

Buy and hold


Comparison of fees

Rating

3.8 – Reasonable fees with strong local support in emerging markets.
3.8 – Competitive fees with some additional costs for specific services.

Level

≤0,10%
0.25%

Brief explanation

Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the platform.
Bitbns employs a straightforward fee structure that aligns well with industry standards, charging both takers and makers a uniform fee of 0.25%. This flat rate is fairly competitive when compared to global averages, ensuring that traders can engage in transactions without the worry of fluctuating fees based on their trading volume. This consistency in trading fees helps in maintaining transparency and allows traders to plan their trading activities without unexpected costs.

Luno

luno
Go exchange
  • Year Founded: Since its inception in 2013, Luno has built a long-standing reputation in the cryptocurrency market. This longevity serves as a testament to its resilience and adaptability in the ever-evolving crypto landscape.
  • Security Methods: Luno prioritizes the security of its users' assets through robust security protocols, including state-of-the-art encryption and secure storage measures. These efforts ensure that users' investments are protected from external threats and vulnerabilities.
  • Possible Regulation: Luno’s commitment to regulatory compliance in each market it operates in reinforces its reputation as a trustworthy platform. By adhering to local financial regulations and guidelines, Luno provides a secure trading environment that aligns with legal standards.
  • Reputation and Reviews: The platform has garnered positive feedback from users globally, reflected in its favorable reviews across various consumer platforms. This positive reputation highlights user satisfaction with Luno's services and its effectiveness in meeting trader needs.
  • Trading Volume and Liquidity: Luno maintains a healthy trading volume and liquidity, ensuring that users can execute trades efficiently without significant price slippage. This reliability in trading performance makes Luno a preferred option for many traders looking to buy and sell cryptocurrencies.
  • Pros
  • User-friendly interface for beginners.
  • Strong security protocols enhance safety.
  • Supports a variety of cryptocurrencies.
  • Cons
  • Limited global reach.
  • Fewer advanced trading features.

Bitbns

Bitbns
Go exchange
  • Security Methods: Bitbns places a strong emphasis on security, implementing multiple layers of protection including 2-factor authentication, cold storage of digital assets, and encrypted user data. These practices help in safeguarding users’ funds and personal information against unauthorized access and potential security threats.
  • Transparency: Bitbns is known for its transparent operational practices, including clear communication regarding its fee structure, trading processes, and the storage of users’ funds. This transparency helps build trust by ensuring that users have a clear understanding of how their investments are managed.
  • Customer Service: The exchange boasts a responsive and knowledgeable customer service team that is accessible through multiple channels. This responsiveness ensures that users’ queries and concerns are addressed promptly, enhancing user satisfaction and trust in the platform.
  • Reputation and Reviews: Since its inception in 2017, Bitbns has built a strong reputation within the Indian cryptocurrency market. Positive reviews from users and industry experts highlight the platform’s reliability, ease of use, and excellent service, contributing to its credibility
  • Number of Users: Bitbns supports a large and growing community of users, indicating a broad acceptance and trust in the platform. A large user base not only reflects the platform’s capability to meet trader needs but also enhances liquidity, which is crucial for the efficient execution of trades.
  • Pros
  • User-friendly interface for beginners.
  • Extensive security measures enhance trust.
  • Robust customer support system.
  • Cons
  • Relatively high trading fees.
  • Limited to Indian rupee transactions.

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Product selection

Native token

No
No

Earns

No
Yes

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

Luno Pte Ltd.
Buyhatke Internet Private Limited

Regulation

Regulated in Singapur y Sudáfrica
Not regulated

Year founded

2013
2017

Founder

Marcus Swanepoel
Gaurav Dahake

Payment methods

Transfers

Yes
Yes

Mastercard

Yes
Yes

Wire transfer

No
Yes

Card

Yes
Yes

Comparative table

Luno FEATURES Bitbns
Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
Minimum Trade
Bitbns allows users to start trading with a low minimum trade amount, making it accessible for small investors.
Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
Trading and Transaction Fees
Fees are competitive within the Indian market, but can be considered high internationally.
Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
Number of Cryptocurrencies
Supports a diverse range of over 100 cryptocurrencies, catering to varied investor interests.
Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
Crypto-to-Crypto Trading Pairs
Offers a solid selection of crypto-to-crypto trading pairs, enabling versatile trading strategies.
The Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
Website Transparency
The website provides clear information on fees, trading processes, and security measures.
The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
Credit/Debit Card
Bitbns lacks an exchange card feature, which could enhance user convenience and offer additional benefits for in-store purchases.
Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Storage Offering
Provides secure cold storage options, enhancing the safety of digital assets.
Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
Staking and Rewards
Offers competitive staking options and rewards, encouraging user participation and investment.
Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Mobile App and Desktop
Both mobile and desktop platforms are well-designed, offering full functionality and user-friendly interfaces.
Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
Customer Service
Excellent customer service with multiple channels for support and quick response times.
Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.
Deposit and Withdraw
Efficient deposit and withdrawal processes, though options may be limited compared to international standards.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,5/5
High 4/5

Additional features

Savings wallets, fiat on/off ramps, staking, educational resources
Margin trading, futures trading, staking, SIP investment plans

Anonymity

No
No

Key points

Available cryptocurrencies

10+
90+

User-friendliness

Luno offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.
Bitbns is known for its simple and user-friendly interface. It is designed to make cryptocurrency trading accessible to everyone, including those who are new to the market.

Value for money

Provides decent value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and emerging market users.
Provides good value for money with low trading fees and a wide range of supported cryptocurrencies, making it an affordable choice for traders.

Countries of operation

South Africa, Nigeria, Indonesia, Malaysia, Europe
India, United States, United Kingdom, Canada, Australia

Best for

Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.
Ideal for Indian investors and others looking for a cost-effective platform with low trading fees and a wide range of cryptocurrencies.

Base currencies available

ZAR, NGN, MYR, IDR, EUR, BTC
INR, USDT

Account

Trading

Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has competitive fees but lacks advanced trading tools.
Bitbns is a good platform for Indian users, offering a wide range of cryptocurrencies and easy fiat integration. Its trading fees are competitive, but it lacks some advanced features and tools available on larger exchanges.

Deposit and withdrawal

Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.
Bitbns offers bank transfers and cryptocurrency deposits. Withdrawals are processed quickly, typically within 24 hours. Fees are competitive, making it a good choice for Indian users.

Account opening process

Luno offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes less than a day to complete.
Bitbns has a straightforward account opening process. Users need to submit personal information, verify their identity, and address. The process is efficient and usually takes less than a day, making it accessible for new users.

KYC required?

Yes
No

Customer Service

Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users needing immediate help.
Bitbns provides support through email, live chat, and a help center. The response time is quick, and support is available 24/7, making it reliable for users in India and beyond.

Security

Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for investors.
Bitbns employs comprehensive security measures, including 2FA, encryption, and cold storage. However, it is not regulated by major financial authorities, which might be a concern for some investors.

Which of these exchanges is for you?

alejandro-borja-analista-de-brokers.webp

Alejandro Borja

As an expert on our website, I recommend Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.
Xavier-tarraso-mascarell.jpg

Xavier Tarrasó

As an expert on our website, I recommend Bitbns for traders in India seeking a user-friendly and secure platform to dive into cryptocurrency trading. The exchange excels in transparency, customer service, and a robust mobile experience, making it highly suitable for both beginners and seasoned traders. However, potential users should consider the higher trading fees and limited international accessibility when deciding if Bitbns meets their trading needs.

Read luno review

View all comparisons against Luno

Read Bitbns review

View all comparisons against Bitbns

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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