I work for Luno, maybe I can shed some light on the fees and reasons for them
You can use Luno to send, receive, store, buy, sell and trade Bitcoin. These are*the fees:
- Sending BTC: A variable/dynamic fee, depends on network congestion, you will always see it before sending (same as most Bitcoin platforms).*
- Receiving BTC: A little complicated, but 0.0002 BTC per on-chain transaction. See*this article for more.
If sending to someone's email address/phone number, the transaction is off-chain (instant and free)
- Storing BTC: No cost.
- Buying/selling: You can use Luno Wallet to instantly buy or sell Bitcoin. This is a guaranteed price, always shown to you before you agree to the transaction. It's based on various factors, such as market liquidity, volatility. See this as the equivalent of buying forex at the airport: there's one flat rate that you can agree to or not.
- Trading Bitcoin: Not the same as buying and selling. If you use the Luno Exchange, you can trade Bitcoin as a*market maker*or a*market taker*(providing or taking liquidity -- BTC or your local currency). Market maker orders will only execute if someone agrees to that price, but there are no fees involved in those transactions (but, of course, your transaction is not guaranteed). Market taker orders have a maximum of 1% fee (and it goes down from there, based on how much you trade).
- Lastly, a lot of people still look at the "Google price" of Bitcoin (i.e. the Coinbase USD rate, without fees, to their local currency). Read more here:
https://www.luno.com/blog/en/post/bitcoin-price-different-different-countries*
