Buying Bitcoin in South Africa is made easier by Luno. Gone are those days when Bitcoin obtention in South Africa was a nightmare. Luno is a well-known and highly credited Bitcoin Exchange platform in South Africa. Upon registering on this platform from South Africa, you can securely, quickly, and easily buy any desired amount of Bitcoin.
Relax because the process is not complex and we’ll show you a detailed step-by-step guide. In order to purchase and sell Bitcoin on Luno, you’ll need to first register. Once you’ve registered yourself, the rest becomes easier due to the platforms user-friendly nature. Stick to the following steps if you want to purchase Bitcoin using Luno in South Africa:
- Sign Up on Luno
Use your email address and pass word to sign up for a user account at www.luno.com. Once this step is completed, you’ll need to check your email inbox for the confirmation email that will be sent to you. Upon opening the confirmation email, you’ll need to click on the blue “Confirm Email Address” button. Once this is done, you’ll be taken back to the Luno website where you can proceed by pressing the continue button.
- Verifying your identity
All new users on the Luno Bitcoin Exchange platform are at a Level 0 account. In simple terms, this means that they haven’t yet verified their accounts or provided their personal details. Do your best to verify your account as soon as you can. All those who are in Level 1 account are limited to a total of R15,000 deposit and withdrawal. Those who are in Level 2 account are limited to R50,000 per deposit and withdrawal per month. Benefit from an unlimited account by verifying your identity. Verification is carried out by submitting your ID and proof of residence.
- Depositing Rand so that you can buy Bitcoin
Upon verifying your account, you’ll be able to deposit money in your Luno wallet which can be used to buy Bitcoin. Immediately your deposit has cleared in the Luno bank account, it will display in the Rand wallet. By checking your wallets in the Luno website, you’ll find this money which can be used to purchase Bitcoin. To make a deposit, you’ll need to click on “Wallets” which is located in the left menu of the website. This will take you to the wallets page where you can click on the “Deposit” link that is situated at the bottom of your ZAR wallet.
- Buy Bitcoin with “Instant Buy”
Luno offers two ways through which you can buy Bitcoin on its platform. The first way is to make an “instant buy” which is ultra-fast but you’ll need to pay a premium for your Bitcoin. The second way which happens to be slow has to do with making a “buy order” on the exchange and waiting for someone to fill the order.