South Africa – LUNO grows by a million users in a year

The South African platform exceeds all expectations

, South Africa’s biggest platform, has reached 3 million customers, gaining 1 million more in the last 12 months alone. Although the customers of the company hail from 40 different countries, the majority of them remain South African.

was founded in 2013, by two South African friends, a former investment banker and Tim Stranex formerly a software engineer working for . The company’s headquarters are located in London and it has hundreds of employees working from their , Malaysia, Indonesia, and offices.

grows by a million users in a year – Finleaks

In a recent interview to South African media, CEO Marcus Reitz said “ is one of our strongest markets and appetite for trades is still growing – we are seeing new customers learning about and buying every day. Reaching 3 million wallets demonstrates the growing adoption of cryptocurrencies across the globe and reinforces our aim of reimagining a financial system where money is cheaper, faster and safer with open and equal access for everyone”. While his words sound like a typical Tech executive boast, there is quite a lot lying behind them

High Liquidity Rates

LUNO’s liquidity rates than any other exchanges. This means that more clients are looking to buy and sell on LUNO, which, inevitably increases the volumes of being traded. The unusually high volume of trade results in a narrow difference between the asking price and the purchase price of .

This means that in LUNO, the cryptocurrency is indeed cheaper than in many of its competitors, which ensures that in a continent, and country, suffering from financial difficulties, cryptocurrencies offer a cheap alternative to traditional currency.

In order to increase its appeal, LUNO’s design is very user friendly, its online and mobile platforms are extremely east to use, the company is offering bank-grade security and works closely alongside regulators and banks in order safely increase access to cryptocurrencies.

This is a great African success story, quickly changing the shape of African economy and presenting the young generation of Africans with wonderful new opportunities. We hope many other entrepreneurs will follow LUNO’s example. 

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