Luno Support and Queries Thread

acidrain said:
Based on no ETH/ZAR exchange I can only assume there is some calculation being made which is tied to the ETH/BTC exchange. With that said a coin value is normally stated as the mean price between last ask and first bid of the order book.

If you are doing instant sell, it will sell at the closest ask. If the ask is enough the order will complete but if not it will keep going down the order book until the order is complete. Long story short, don't go on the price you are shown as it's only an indication. This is why people are being burnt on the instant buy/sell.
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Thanks, I'm not a Luno user yet so was wondering if the UI is nice enough to show what the ask would be that I will be selling at? I don't want to be burned.
 
envo said:
Thanks, I'm not a Luno user yet so was wondering if the UI is nice enough to show what the ask would be that I will be selling at? I don't want to be burned.
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Unless there is a massive gap between the buy/sell order book, the mean price is generally spot on. The problem though is the price doesn't show how much is wanted at that price. If it's more than you got, then you would get that, if not then you would also be selling at the next ask ( which isn't shown ).

Let's say for example you have 1 ETH you want to instant sell. The price says R10 711 but the order book works out to:

10711 - 0.1
10710 - 0.2
10700 - 0.5
10650 - 1.5

You have instructed to instantly sell your 1 eth so the system will sell everything at the nearest "available" prices until the order is complete. With the above order book, you will see you only sold 0.1ETH at the price you were shown. The rest kept getting sold at the lower amounts until the order was complete.

I could be wrong and under correction from the rep but with no physical exchange it's hard to say how that works without assuming.
 
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acidrain said:
Unless there is a massive gap between the buy/sell order book, the mean price is generally spot on. The problem though is the price doesn't show how much is wanted at that price. If it's more than you got, then you would get that, if not then you would also be selling at the next ask ( which isn't shown ).

Let's say for example you have 1 ETH you want to instant sell. The price says R10 711 but the order book works out to:

10711 - 0.1
10710 - 0.2
10700 - 0.5
10650 - 1.5

You have instructed to instantly sell your 1 eth so the system will sell everything at the nearest "available" prices until the order is complete. With the above order book, you will see you only sold 0.1ETH at the price you were shown. The rest kept getting sold at the lower amounts until the order was complete.

I could be wrong and under correction from the rep but with no physical exchange it's hard to say how that works without assuming.
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Thanks for the insights, much appreciated
 
Thanks Luno, I have been verified!

Please can you verify my wife, also waiting more than a week now? Ticket 303655

Thanks
 
There is a major bug in the latest iOS app.
Even though Touch ID is enabled the app does not prompt for your finger print and simply opens.
 
envo said:
Hi, I'm just wondering, ETH is going at $669 currently and according to Luno it's worth R10711, which is $784.25 per ETH. Is that right? If I sell ETH now, I get paid @R10711?
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In your calculation, it appears you are using the google usd to zar rate of R 13.65 (10711divided by 784.25) Prices on a SA exchange never reflect that rate (generally 10 to 15% higher, sometimes up to 20%)

This is my experience with bitcoin, I haven't been following the ETH trend
 
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PM sent @Lunomoney

I can't access my account at all.

Ticket reference number is: 302662

Please can you assist?
 
Lunomoney said:
Our queues are fairly lengthy at the moment, but that does sound like a little too long to wait.
Please PM me a ticket ref# and I'll follow this up for you.
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Also delayed.. Mine was even earlier.. Submitted a ticket and the rely was that they prioritise those who reach the R15K restriction first.. I hit that some time last week already
 
Hi @lunomoney I've been waiting several weeks for my ID to be verified. No response. My wife's account was verified since within 2 days. I've sent you a PM. Could you please assist? Thanks
 
3Gee said:
There is a major bug in the latest iOS app.
Even though Touch ID is enabled the app does not prompt for your finger print and simply opens.
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This shouldn't be happening.
Have you raised the bug, along with your device and how we can replicate it so our team can take a closer look?
 
Lunomoney said:
This shouldn't be happening.
Have you raised the bug, along with your device and how we can replicate it so our team can take a closer look?
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When will the Andriod app get a fingerprint lock for the app?
 
@lunomoney, still waiting for assistance with ticket #275897.
Going on almost 2 weeks now. That's like a life time in the crypto world :cry:
 
Tweebeenvis said:
Whaha, So I get the stock standard Luno copy and paste reply after a month of waiting. All about how their system works and they don't set the price blah,blah. Completely missing the point of my query. To any interested, this was my reply:

"So after a month of waiting, I get a stock standard copy and paste reply that has nothing to do with my query? I FULLY UNDERSTAND HOW YOUR SYSTEM WORKS. I HAVE BEEN TRADING WITH YOU SINCE YOU WERE BITX. Your app had a glitch which cost me 0.7 ETH in fees. I accepted your FINAL PRICE entered my pin immediately and rates where changed after the fact. I'm tired of repeating myself and am tired of your useless customer support. If you are unwilling to refund your customers due to ERRORS ON YOUR SYSTEM I suppose there is not much to be done. I feel robbed."

Will never do another trade on Luno again. Very sad and unhappy. Such is life.
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Final answer from Luno was "Sorry we checked the system, you accepted the rate" case closed. 0.7 ETH (R8k today) lost. The annoying part is that I wasn't even being an ass and insisting that the trade be honored (where I would have made 30k). Just wanted the fees back. Not my fault their crappy app was glitching but I suppose I just have to take the hit.

That's what I get for being a loyal customer since BitX. Moving to Altcoin Trader. Hope this doesn't happen to anyone else.
 
Lunomoney said:
This limit is for on-chain transactions, not trades.
Exceeding 5 ETH per 24 hours means it's done manually. I'll chat to our team to see if we'll consider increasing this limit.

EDIT: Seems like our Help Centre articles are a bit out of date, the current limit is actually 20 ETH. We're updating the articles :) 20 ETH seems reasonable to me, are you looking for a higher amount?
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Hi Lunomoney

It is still a but out of sync that you can do 2.5mil of BTC and only now +-200k on Ether. It just sometimes happens that i want to transfer it out and it will be 30 Ether which is just slightly more than a bitcoin but it will get stuck until its manually authorised, whereas if i convert it to BTC then transfer no problem but have to pay the high fees of BTC and the slow transfer rates.
 
Just a question - But has anyone received their withdrawal the same day they did it. As in choose to withdraw to bank account say 2k and receive it in your bank account the very same day?

what are the turnaround times for cashing out?

Have some urgent cash that I need to withdraw and looking for faster means.
 
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