Cryptocurrency Q&A
How much can you deposit on Luno?
How much can you deposit on Luno?
Daniela
Sat Sep 28 2024
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5 answers
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I'm curious to know, just how much can one deposit on the platform known as Luno? Is there a specific limit or ceiling that users need to be aware of when it comes to adding funds to their accounts? It would be great to have a clear understanding of the deposit capabilities offered by Luno, so that I can make informed decisions regarding my cryptocurrency investments. Is there a range of deposit amounts that are typically seen on the platform, or does it vary widely depending on individual user needs and circumstances?
5 answers
GwanghwamunGuardianAngel
Mon Sep 30 2024
For users who have fully verified their Luno account, there are no transaction limits on bank transfers. This allows for greater flexibility in managing funds and executing trades, as users can deposit larger amounts of money as needed.
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Maria
Mon Sep 30 2024
Bank transfers are a common method for depositing funds into cryptocurrency wallets, including those denominated in South African Rand (ZAR). When using this method with Luno, users can expect the funds to be credited to their ZAR wallet within two business days. However, if the user's bank is Standard Bank, the process may be faster.
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KimonoElegance
Sun Sep 29 2024
In addition to bank transfers, Luno also offers instant deposits as an option for funding cryptocurrency wallets. These deposits reflect in the user's account immediately, making it a convenient option for those who need access to their funds quickly.
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KimchiQueenCharm
Sun Sep 29 2024
However, it's important to note that not all banks are supported for instant deposits. Users should check with their bank to confirm whether they are able to use this service.
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Tommaso
Sun Sep 29 2024
For instant deposits that are supported, there is a limit of R15,000 per deposit. This is a security measure in place to protect users from potential fraud or unauthorized transactions.
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