I have been using Localbitcoins.com for the last 18 months to buy more bitcoin whenever I needed too. I joined Luno.com just after they changed their name from Bitx.
I never started using Luno, because I had to first fund my wallet with Rands before I could exchange it for Bitcoin. I did not like that idea. This is the reason I stuck with Localbitcoins, because the transaction is immediate. I would find a trader on Localbitcoins that has the same bank account as me and cheapest price. The trade will take less than 5 min. This is very helpful when you see new lows in Bitcoin price and want to buy fast.
Last week I decided to deposit funds to my Luno account to test it out. I transferred funds from my FNB back account to the Luno bank account in the morning at about 7am. At about 12pm I noticed the funds in my Luno account. That was a big surprise to me as I expected it to take 24 to 48 hours.
Because I had Rands in my account I could test the exchange process to Bitcoin. It was super easy and immediate. The exchange rate was slightly better than the best trader on Localbitcoins too.
What do you think of Luno.com? Have you used them?
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Regards
Colin Brazendale
Email: cwb197@gmail.com
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