Comparison of Unocoin vs Luno [ 2024 ]

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

Your expert: Alejandro Borja

Unocoin

Your expert: Xavier Tarrasó

Luno

Main points

Fees

≈ 0,20%/0,70%

Earns

Yes

Customer service

3/5

≤0,10%

Fees

Earns

4/5

Customer service

Recommended for

Beginners

Yes

Trading

Passive income

Yes

Buy and hold

Yes

Beginners

Trading

Passive income

Yes

Buy and hold

Comparison of fees

Rating

3.9 – Reasonable fees with strong local support in India.

3.8 – Reasonable fees with strong local support in emerging markets.

Level

≈ 0,20%/0,70%

≤0,10%

Brief explanation

Unocoin’s commission structure is designed to facilitate easy entry into the cryptocurrency market, yet it’s important for users to be aware of the costs involved. The platform charges a fee for buying and selling cryptocurrencies, which can be considered slightly higher compared to other global exchanges. These fees are typically a percentage of the transaction value, and while they ensure the platform’s operational efficiency and security, they may impact users looking to execute frequent trades or those with smaller budgets. Understanding these fees is crucial for effective financial planning and maximizing potential returns from cryptocurrency investments.

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 Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction.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.

Unocoin

Year Founded: Established in 2013, Unocoin has been operational for nearly a decade, showcasing its resilience and sustained relevance in the rapidly evolving cryptocurrency market.
Security Methods: Unocoin employs robust security measures including two-factor authentication (2FA), a cold storage system for cryptocurrency assets, and SSL encryption, ensuring a high level of security for its users' investments.
Reputation and Reviews: With a strong presence in the Indian market, Unocoin enjoys a positive reputation among its users and has been featured in numerous mainstream media outlets, highlighting its credibility and reliability.
Customer Service: Known for its dedicated support team, Unocoin provides timely customer service and support, which is crucial for new users navigating the complexities of cryptocurrency investments.
Volume Managed: Handling a significant volume of transactions daily, Unocoin demonstrates adequate liquidity, which is vital for users looking to execute trades efficiently without substantial price slippage.

Read Unocoin review

Luno

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.

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Product selection

Native token

Earns

Yes

NFT marketplace

Cripto/debit card

Full name

Unocoin Technologies Private Limited

Luno Pte Ltd.

Regulation

Not regulated

Regulated in Singapur y Sudáfrica

Year founded

2013

Founder

Sathvik Vishwanath, Harish B V, Abhinand Kaseti, Sunny Ray

Marcus Swanepoel

Payment methods

Transfers

Yes

Mastercard

Yes

Wire transfer

Yes

Card

Yes

Comparative table

Unocoin	FEATURES	Luno
Unocoin offers a relatively low minimum trade amount, making it accessible for beginners to start trading without requiring a significant initial investment.	Minimum Trade	Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
The platform’s fee structure is on the higher side, which might be a deterrent for those looking to maximize their returns on smaller trades.	Trading and Transaction Fees	Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
Unocoin supports only a limited selection of major cryptocurrencies, which may not satisfy users interested in a broader array of options.	Number of Cryptocurrencies	Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
Offers some crypto-to-crypto trading pairs, but the options are not as extensive as those available on larger international platforms.	Crypto-to-Crypto Trading Pairs	Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
The website provides clear information regarding fees, policies, and security practices, aiding users in making informed decisions.	Website Transparency	The Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
Unocoin lacks an exchange card, limiting flexibility and benefits for users looking to utilize crypto for everyday transactions.	Credit/Debit Card	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.
Offers secure storage solutions including cold storage, which provides a high level of security for users’ digital assets.	Storage Offering	Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
Limited staking options are available for certain cryptocurrencies, providing users with an opportunity to earn rewards on their holdings.	Staking and Rewards	Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
Both mobile and desktop platforms are user-friendly and well-designed, making trading accessible at home or on the go.	Mobile App and Desktop	Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Provides a decent level of customer service with support available through multiple channels, though response times can vary.	Customer Service	Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
Supports a variety of deposit and withdrawal methods, but fees and processing times can be a drawback for some users.	Deposit and Withdraw	Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.

Key features

Analysis tools

Basic charting tools

Mobile APP

Security

High 4,6/5

High 4,5/5

Additional features

Staking, recurring buys, Unocoin Earn, bill payments

Savings wallets, fiat on/off ramps, staking, educational resources

Anonymity

Key points

Available cryptocurrencies

10+

User-friendliness

Unocoin provides a straightforward and easy-to-use platform that is ideal for beginners. The interface is clean and intuitive, making it easy to navigate and execute trades.

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.

Value for money

Provides decent value for money with competitive fees and strong local support in India, making it a good choice for regional users.

Provides decent value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and emerging market users.

Countries of operation

India

South Africa, Nigeria, Indonesia, Malaysia, Europe

Best for

Ideal for Indian investors seeking a reliable platform with competitive fees and strong local support.

Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.

Base currencies available

INR, BTC

ZAR, NGN, MYR, IDR, EUR, BTC

Account

Trading

Unocoin is a popular exchange in India, offering easy fiat integration and a user-friendly platform. It supports a decent range of cryptocurrencies but has higher fees compared to some other exchanges.

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.

Deposit and withdrawal

Unocoin is popular in India, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

Unocoin provides a straightforward and user-friendly account opening process. Users need to provide personal information and verify their identity. The process is efficient and typically takes less than a day to complete.

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.

KYC required?

Yes

Customer Service

Unocoin provides support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users in India.

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.

Security

Unocoin provides strong security with 2FA and encryption. Despite its robust security measures, the platform is not regulated by top-tier financial authorities, which could be a concern for some investors.

Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for investors.

Which of these exchanges is for you?

Alejandro Borja

As one of the analysts here, I recommend considering Unocoin if you’re starting out with cryptocurrencies, especially if you are based in India. The platform is user-friendly, making it less daunting for beginners to navigate the crypto space. Additionally, Unocoin’s unique offering of a Systematic Investment Plan for Bitcoin sets it apart, providing a structured way to invest in Bitcoin. However, keep in mind the higher transaction fees and the limited selection of cryptocurrencies, which might be limiting if you’re looking to explore a wide range of crypto assets.

Xavier Tarrasó

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.

View all comparisons against Unocoin

View all comparisons against Luno

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.

Comparison of Unocoin vs Luno [ 2024 ]

Unocoin

Luno

Main points

Recommended for

Comparison of fees

Rating

Level

Brief explanation

Unocoin

Luno

Product selection

Native token

Earns

NFT marketplace

Cripto/debit card

Company information

Full name

Regulation

Year founded

Founder

Payment methods

Transfers

Mastercard

Wire transfer

Card

Comparative table

Minimum Trade

Trading and Transaction Fees

Number of Cryptocurrencies

Crypto-to-Crypto Trading Pairs

Website Transparency

Credit/Debit Card

Storage Offering

Staking and Rewards

Mobile App and Desktop

Customer Service

Deposit and Withdraw

Key features

Analysis tools

Mobile APP

Security

Additional features

Anonymity

Key points

Available cryptocurrencies

User-friendliness

Value for money

Countries of operation

Best for

Base currencies available

Account

Trading

Deposit and withdrawal

Account opening process

KYC required?

Customer Service

Security

Which of these exchanges is for you?

How do we review crypto exchanges?

Risk Disclaimer

More comparatives Unocoin and Luno