This article contains affiliate links. If you sign up or make a purchase through our links, we may earn a commission at no extra cost to you.
Luno Malaysia Review 2026: Is This the Best Crypto App for Beginners?
⚡ Quick Answer
Luno is one of the most beginner-friendly cryptocurrency exchanges in Malaysia, fully licensed by the Securities Commission Malaysia (SC). It supports Bitcoin, Ethereum, and a handful of other coins, with a clean app and simple buy/sell interface. If you’re new to crypto and want a regulated, easy-to-use platform, Luno is a solid starting point — though its fees are higher than some competitors for active traders.
Cryptocurrency has gone mainstream in Malaysia, and if you’ve been searching for a safe, regulated platform to start your crypto journey, Luno keeps coming up. But is it actually good in 2026? And is it the right choice for you?
I’ve been using Luno personally and in this review I’ll break down everything — fees, security, coin selection, ease of use, and how it compares to the competition. No hype, just facts.
What Is Luno?
Luno is a global cryptocurrency exchange founded in 2013, now operating in over 40 countries. In Malaysia, it is licensed and registered with the Securities Commission Malaysia as a Recognised Market Operator (RMO) — meaning it’s one of the few legally compliant exchanges you can use in the country.
That SC licence matters a lot. It means Luno must follow strict rules on customer funds, AML/KYC compliance, and reporting. If you’re parking real ringgit into crypto, you want that protection.
Supported Cryptocurrencies on Luno Malaysia (2026)
Luno keeps its coin list deliberately short — a design choice aimed at beginners. As of 2026, supported assets in Malaysia include:
- Bitcoin (BTC)
- Ethereum (ETH)
- Ripple (XRP)
- Litecoin (LTC)
- Bitcoin Cash (BCH)
- Solana (SOL)
- Uniswap (UNI)
- Polygon (POL)
If you want access to hundreds of altcoins or DeFi tokens, Luno is not the right platform. But for anyone starting out with BTC or ETH, the focused selection is actually a feature — it removes decision paralysis.
Luno Fees Explained
Fees are where Luno draws the most criticism — and it’s worth understanding how the two fee structures work.
Instant Buy/Sell (Wallet)
When you use the simple “Buy” or “Sell” button in the Luno wallet, you’re using the Instant Buy feature. Luno charges a spread of approximately 1–1.5% built into the price — there’s no explicit fee line item, but you buy slightly above market rate and sell slightly below.
Exchange (Order Book)
Luno’s Exchange mode uses a maker/taker fee model. Maker fees start at 0% for new users and taker fees start at 0.10%, dropping as trading volume increases. This is competitive and comparable to other licensed exchanges.
Luno Fee Comparison: Malaysia’s Licensed Exchanges (2026)
| Exchange | SC Licensed? | Taker Fee | Maker Fee | Instant Buy Spread |
|---|---|---|---|---|
| Luno | ✅ Yes | 0.10% | 0% | ~1–1.5% |
| MX Global | ✅ Yes | 0.20% | 0.10% | ~1.5–2% |
| Hata | ✅ Yes | 0.15% | 0.05% | N/A |
| Tokenize Xchange | ✅ Yes | 0.25% | 0.10% | ~2% |
| SINEGY | ✅ Yes | 0.10% | 0% | N/A |
Fees are approximate and may change. Always check each platform’s fee schedule before trading.
How to Get Started on Luno Malaysia
Getting started is genuinely simple. Here’s the process:
- Download the Luno app (iOS or Android) or sign up at luno.com
- Verify your identity — you’ll need your MyKad and a selfie. This usually completes within minutes.
- Deposit ringgit via FPX bank transfer. Minimum deposit is RM1.
- Buy your first crypto — use the simple Wallet mode or switch to Exchange for lower fees.
The whole process takes about 10–15 minutes. And right now, if you sign up through my referral link and buy RM250 of crypto, we both get RM75 in Bitcoin — not a bad deal for getting started.
Luno Security: Is Your Crypto Safe?
Security is the number one concern for any crypto holder, and Luno’s track record is strong:
- 95% of funds held in cold storage — meaning your crypto is kept offline, away from hackers
- Two-factor authentication (2FA) is available and recommended
- SC-licensed — subject to Malaysian regulatory oversight
- No major hack or security breach in Luno’s history in Malaysia
- Biometric login supported on mobile
One important caveat: like all exchanges, Luno holds your crypto in a custodial wallet. This means Luno technically controls the private keys, not you. For long-term holding of large amounts, many experienced crypto users prefer moving assets to a personal hardware wallet. For beginners and small amounts, Luno’s custodial setup is fine.
Luno’s Earn Feature: Grow Your Crypto Passively
Luno offers a savings-like feature called Luno Earn, where you can lend out your crypto and earn interest. Returns vary by asset and market conditions — BTC yields have historically been in the 1–4% range annually, while stablecoin-like assets can yield more.
This is a convenience feature for passive holders. Just be aware that lending your crypto carries counterparty risk — if borrowers default, your yield could be affected. Luno has not faced this issue, but it’s worth understanding the mechanics.
Who Is Luno Best For?
| User Type | Is Luno a Good Fit? |
|---|---|
| Crypto beginner in Malaysia | ✅ Excellent — simple, regulated, easy FPX deposits |
| Long-term BTC/ETH holder | ✅ Good — clean interface, Earn feature available |
| Active trader | ⚠️ Acceptable — use Exchange mode, fees are competitive |
| Altcoin hunter (100+ coins) | ❌ Not ideal — limited coin selection |
| DeFi/Web3 user | ❌ Wrong tool — Luno has no DeFi integration |
Luno Pros and Cons (2026)
Pros
- Fully SC-licensed and regulated in Malaysia
- Very beginner-friendly interface
- Fast FPX bank transfers (deposit in minutes)
- Competitive Exchange fees (0% maker)
- Strong security track record (cold storage, 2FA)
- RM1 minimum purchase — great for small amounts
- Luno Earn feature for passive income
Cons
- Instant Buy spread (~1–1.5%) is high if used habitually
- Limited coin selection (no altcoins)
- No staking or DeFi features
- No desktop trading terminal
Final Verdict: Should You Use Luno in 2026?
Yes, for most Malaysian beginners, Luno is the right place to start. It’s regulated, safe, easy to use, and you can be up and running with your first Bitcoin purchase in under 20 minutes. The Exchange mode keeps fees reasonable for those who trade more actively.
If you’re a power user who wants 200+ altcoins or DeFi access, you’ll eventually outgrow Luno — but there’s no shame in starting here and expanding later. Many experienced Malaysian crypto investors still use Luno for BTC and ETH because of its reliability and local compliance.
Frequently Asked Questions
Is Luno legal in Malaysia?
Yes. Luno is licensed by the Securities Commission Malaysia as a Recognised Market Operator (RMO), making it one of the few legally compliant crypto exchanges in the country.
What is the minimum amount to invest on Luno Malaysia?
You can start with as little as RM1. There’s no minimum account balance requirement.
How do I deposit ringgit into Luno?
Luno supports FPX bank transfers, which are instant and free from most Malaysian banks. You can deposit from Maybank, CIMB, Public Bank, RHB, and more.
Is there a referral code for Luno Malaysia?
Yes — use referral code MFUWBE when signing up. Buy RM250 worth of crypto and both you and I receive RM75 in Bitcoin as a bonus.
Related Articles
- Moomoo vs Webull Malaysia 2026: Which Trading App Should You Use?
- How to Invest RM1,000 in Malaysia (2026): A Beginner’s Step-by-Step Guide
- Best Money Market Fund in Malaysia (2026): Webull vs Versa vs Moomoo
➡️ Binance vs Luno vs MX Global Malaysia 2026: Which Crypto Exchange Should You Use?
