Luno fees and limits in Nigeria

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• Bank transfer: You’ll be charged a 2% payment provider fee per deposit capped at ₦1,200 (excl. VAT). The final amount you receive in your account is after the payment provider has deducted VAT.

• Voucher deposits: You’ll be charged a 2% provider fee capped at ₦2,000 (excl. VAT) per deposit up to ₦5 million. For deposits over ₦5 million, you will be charged a provider fee of ₦3,000 (excl. VAT). The final amount you receive is after the payment provider has deducted VAT.

• The limits above are per transaction, and may vary depending on your verification level. You’ll see your limit when entering the amount you want to deposit.

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• You’ll be charged a ₦500 provider fee (excl. VAT) per withdrawal. The final amount you receive in your account is after the provider has deducted VAT.

• The withdrawal fee is deducted from your NGN wallet if it has a sufficient balance. If there aren’t enough funds in your NGN wallet to cover the withdrawal fee, the fee will be deducted from the withdrawn amount instead.

• The limits above are per transaction, and may vary depending on your verification level. You’ll see your limit when entering the amount you want to withdraw.

You can find out what verification level you’re on by going to your Profile and selecting Settings. Under Verification, you’ll see Level 1, Level 2, or Fully verified.

The following deposit and withdrawal limits apply for each verification level:

These fees and limits apply when you buy or sell crypto from the Portfolio screen.

They do not apply to transactions on the Luno Exchange.

Fees

Limits

These limits are applied per transaction. There is no limit on the number of transactions you can make.

The fee you pay when buying or selling crypto on the Luno Exchange depends on your total 30-day trading volume, and whether you’re placing a maker order or a taker order.

Your tier (NG) is calculated once per day by summing up all of your trading activity across all markets on the Luno Exchange platform over the last 30 days (converted to your primary currency). You are then assigned a fee tier based on this total 30-day volume according to the table below.

A taker order is an order that trades at market price. A maker order trades at a limited price.

We have special fees and rebates for USDT/NG and USDC/NG pairs. If you trade these pairs, the stablecoin pair pricing below applies.

When placing an order on the Luno Exchange, each currency pair (or market) has minimum and maximum volumes and prices you can set.

Volume refers to the size of the order you can place, applicable to all order types.

Price refers to the range within which you can specify the price for an order. It does not apply to market orders, which are automatically set at the current market price.

The Luno Large Cap bundle is a collection of some of the largest cryptocurrencies. It automatically rebalances once per quarter to reflect market changes. Here are the fees and limits involved:

Fees

Limits

* If you’re selling your whole bundle, there is no minimum (you’re able to sell it even if your bundle balance is less than ₦ 2,500).

Luno charges a dynamic fee for crypto sends. The only exceptions to this are:

• XRP, which has a fixed 0.03% send fee

• USDT sent on Tron, which has a fixed $0.90 send fee

You’ll always see the exact fee amount before confirming you want to proceed with the transaction.

Luno may limit the amount of cryptocurrency you can send during 24-hour and 30-day rolling periods.

These limits form part of our anti-financial crime measures, and they are in line with best practices in the industry.

US dollar amounts are converted to the equivalent crypto that you’ve selected.

It's free to receive cryptocurrency, with one exception:

• We charge a nominal fee if you receive “dust” – a tiny amount of crypto, usually much lower than minimum buy or sell amounts

• This fee combats dusting attacks, where attackers send small amounts to many wallet addresses in an attempt to de-anonymise them