Cryptocurrency Q&A
How does Luno work for beginners?
How does Luno work for beginners?
EmilyJohnson
Mon Sep 30 2024
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7 answers
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Hey there, I'm curious about how Luno works for those who are just starting out in the world of cryptocurrency. Could you walk me through the basics of how a beginner can get started with Luno? What kind of features does it offer that cater specifically to new users? Also, how secure is Luno when it comes to storing and managing digital assets? I'd love to hear your thoughts on these questions and any other tips you might have for a crypto newbie looking to give Luno a try.
7 answers
Sara
Wed Oct 02 2024
The process of purchasing Bitcoin on the Luno Exchange begins with the buyer making a deposit in their local currency. This deposit serves as the funds to be utilized for the acquisition of BTC.
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JamesBrown
Wed Oct 02 2024
After the deposit is successfully made, the buyer faces a decision: they can either choose to match an existing order on the exchange or wait for a new order to emerge.
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SamuraiCourageous
Tue Oct 01 2024
Matching an existing order involves paying the specified amount, in this case, 215,000 ZAR, in exchange for 1 BTC. This type of order is commonly referred to as a "taker order."
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BonsaiVitality
Tue Oct 01 2024
Another reputable cryptocurrency exchange worth mentioning is BTCC, which offers a comprehensive range of services to its users. Among these services are spot trading, futures trading, and a secure wallet solution.
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Alessandro
Tue Oct 01 2024
A taker order effectively removes liquidity from the market, as it consumes an existing offer that was previously available to other potential buyers.
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