Luno aims for one billion customers in 10 years

The exchange’s Marius Reitz explains the reasons for its confidence.

Marius Reitz, Luno’s general manager for Africa, explains how the recent buyout of the crypto exchange by US-based Digital Currency Group is the first step in an ambitious campaign to acquire one billion customers in 10 years.

With that will come an entirely new way of delivering financial services, especially to the unbanked.

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Well maybe Luno can start by improving on its customer service :
Trust index rating is 1,8 out of 10
Hello Peter rating is 1,24 from 183 reviews.

I doubt they will get there, service and support is non-existent. Users trading in large numbers will lose money waiting for their staff to come back to them when problems arise. I have left them after experiencing exactly that, they are not the only option.

Wish Luno the very best…will require exponential innovation to achieve this target, given that the competing exchanges, like Binance, are light-years ahead.

Furthermore, ZAR is a major handicap; it is cheaper to buy BTC with credit card and pay the card fees than to buy in ZAR on Luno.

Another challenge facing centralised exchanges is over-regulation. Most savvy crypto investors are already turning to DEXs in droves.

To date, we like Luno and have used it exclusively for BTC/ETH to ZAR offramp.

End of comments.

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