Luno now offers South Africa an option to buy ether with fiat

Luno is a renowned cryptocurrency exchange headquartered in London, they enable crypto storage and transactions but are known particularly as a bitcoin-related company. The Luno platform has now enabled crypto traders in South Africa to buy ether using Rand.
The exchange offers its, over 3 million customers across 40 countries, an easy and safe place to buy bitcoin and ether and to learn about cryptocurrencies as their website states. An Ethereum centered series has been running on the platform to help users make informed investment decisions.
Marius Reitz, Luno’s General Manager in Africa, commented on the new launch saying: “The direct Ethereum/Rand pair will make it quicker, simpler, and cheaper for customers to interact with and use Ethereum on the exchange. We are working on a number of enhancements to our platform and this pairing has been introduced in response to demand from our customers. Previously, customers could buy Ethereum through our instant buy option but having this ability directly on the exchange makes it faster and cheaper for traders.”

Luno certifies that every coin listed in its exchange has undergone due diligence according to the Manager’s comment: “There are over 2000 cryptocurrencies. However, many of these are scams, so customers need to trust that the exchange they use has verified the track records of cryptocurrencies available on their platforms. Luno limits the currencies on offer to those on which we have completed extensive research and due diligence and we are satisfied with their credibility in terms of security and adoption. Luno will be adding additional cryptocurrencies to its platform later this year,” he explained.

The company believes from their findings that emerging markets and maybe particularly South Africa would like the current financial system to change. The people therein could be looking to the existence of cryptocurrencies to make this happen.
“Individuals in these markets cannot afford to, and should no longer need to, pay high exchange rates, accept national currency devaluation or lose out when they simply transfer money. Access to a more inclusive financial system will enable people everywhere to think of new and better ways of exchanging value and technology allows this,” Reitz explained
Luno has also made known that it intends to upgrade its platform and expand its team and office locations, envisaging a surge in the value of cryptoassets.

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Credits- Angeline Mbogo

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