I'm curious to know, what kind of fees does Luno impose on its users? Are there any transaction fees, withdrawal fees, or any other hidden charges that I should be aware of? As someone looking to invest in cryptocurrency, understanding the costs associated with using a platform like Luno is crucial in making an informed decision. Can you elaborate on the specific fees that Luno charges and how they compare to other cryptocurrency platforms?
5 answers
CryptoVisionary
Thu Oct 10 2024
As a reward for enhancing
market liquidity, Makers enjoy a significant advantage in the form of a 0% fee when their orders are matched by other traders. This policy incentivizes traders to place more orders, thereby fostering a vibrant and liquid trading environment.
TaegeukChampion
Thu Oct 10 2024
Conversely, traders who match existing orders on the market are referred to as Takers. These traders take advantage of the liquidity provided by Makers and execute trades against their orders.
Arianna
Thu Oct 10 2024
In recognition of the utilization of existing liquidity, Takers are subject to a 1% fee on their trades. This fee helps to sustain and maintain the operation of the exchange while also encouraging a balance between Makers and Takers.
SumoPride
Thu Oct 10 2024
Luno, a prominent player in the cryptocurrency sphere, operates under a distinct fee structure known as the maker-taker model. This model categorizes traders based on their order placement and execution dynamics.
Valentino
Thu Oct 10 2024
In this framework, traders who initiate new orders on the market, either denominated in local currency or Bitcoin, are designated as Makers. These individuals contribute to the liquidity pool by adding fresh orders to the market.