Luno is a cryptocurrency exchange platform that allows you to buy, sell and store digital currencies such as Bitcoin. The platform is user-friendly and offers a range of features to help you earn Bitcoin. In this article, we will discuss how to earn Bitcoin on Luno.
1. Trading
One of the most popular ways to earn Bitcoin on Luno is through trading. Trading involves buying and selling Bitcoin for a profit. To start trading on Luno, you need to create an account and verify your identity. Once your account is set up, you can deposit funds into your Luno wallet and start trading.
Luno offers a range of trading pairs, including Bitcoin, Ethereum, and Bitcoin Cash. You can trade these currencies against fiat currencies such as USD, EUR, and NGN. Luno charges a trading fee of 0.25% per trade.
To earn Bitcoin through trading, you need to have a good understanding of the market trends and price movements. You can use technical analysis to identify the best entry and exit points for your trades. Luno also offers a range of trading tools such as charts, indicators, and order types to help you make informed trading decisions.
2. Luno Earn
Luno Earn is a feature that allows you to earn interest on your Bitcoin holdings. To use Luno Earn, you need to transfer your Bitcoin to the Luno Savings wallet. Luno offers a fixed interest rate on your savings, which varies depending on the currency and the duration of the investment. The longer you hold your Bitcoin in the Luno Savings wallet, the higher the interest rate.
Luno Earn is a risk-free way to earn Bitcoin as the interest rate is fixed and there is no market volatility to worry about. However, the downside is that your Bitcoin is locked in the Savings wallet for the duration of the investment, and you cannot withdraw it until the investment period is over.
3. Referral Program
Luno offers a referral program that allows you to earn Bitcoin by referring new users to the platform. To participate in the referral program, you need to share your referral link with friends and family. When someone signs up using your link and completes their first trade, you earn a commission in Bitcoin.
The commission amount varies depending on the country and the currency used in the trade. Luno also offers a bonus commission if your referrals continue to trade on the platform. The referral program is a great way to earn Bitcoin without any investment or risk.
4. Staking
Luno also offers a staking feature that allows you to earn Bitcoin by holding certain cryptocurrencies in your Luno wallet. Staking involves holding a certain amount of a cryptocurrency to support the blockchain network and earn rewards in return.
Luno currently supports staking for Ethereum, Cosmos, and Tezos. The staking rewards vary depending on the cryptocurrency and the staking duration. The rewards are paid out in the respective cryptocurrency, which can be exchanged for Bitcoin on Luno.
Conclusion
Earning Bitcoin on Luno is easy and accessible to anyone. Whether you want to trade, hold, or refer, there are multiple ways to earn Bitcoin on the platform. However, it is important to remember that cryptocurrency trading and investment involves risk, and you should always do your research and invest wisely.