Which cryptocurrencies does Luno support?

Currently, Luno supports these cryptocurrencies:

Why does Luno not support more cryptocurrencies?

Great question! It’s one we get often, and one we often ask ourselves. With thousands of alternative cryptocurrencies (altcoins - all cryptocurrencies other than Bitcoin) now in existence, and some crypto exchanges supporting as many as possible, shouldn’t Luno be adding as many as possible?

In short, our main priority is keeping our customers’ cryptocurrency safe, and ensuring that the platform is simple to use for everyone.

We’re open to adding more cryptocurrencies, if and when appropriate; however, any new additions will need to be considered against our criteria.

Security, utility, and market traction

One of the first things we look at is the security of the network. We take extra care to ensure the network isn't vulnerable to issues such as:

• 51% attacks

• Double spending

• Security breaches

• Technical glitches

• Pump and dumps

Beyond security, we also take a few other things into consideration:

• Does it solve a clear and unique use case? Does a working solution already exist?

• Does it have a large community of people who will be willing to adopt this solution?

• Is it decentralised? i.e. is it controlled by a single organization or person?

• What does the team look like? Do they have experience?

• Does it have associations with pump and dump schemes or fraud?

Cryptocurrency forks

Our priority is to keep our customers' money safe, which is why we do not support a large number of cryptocurrency forks that occur. Many fork proposals don't add significant value and just add complexity and confusion to the market.

Keeping it simple

We want to make sure our customers can use Luno with ease. That means we think seriously about anything we add because we don’t want to overcomplicate it. It can all be a little overwhelming if you’re new.