LUNO USDC Wallet / Exchange Rate

[ichocolate]

Hi @Lunomoney, is there a reason for the higher USCD price within Luno , as it does not equate to the same rate as the ZAR -> USD (spot rate).
So example, on Luno i would have to pay 14.70 instead of 14.30, there is such a huge difference

 

[Snyper564]

Hi @Lunomoney, is there a reason for the higher USCD price within Luno , as it does not equate to the same rate as the ZAR -> USD (spot rate).
So example, on Luno i would have to pay 14.70 instead of 14.30, there is such a huge difference

You will never get a spot rate usdt or usdc.

All coins have costs to bring into sa a swiftnis 500 bank spot fees as well. Fnb charges 60c a usd at times. That's what you are seeing luno doesn't set these prices ppl do who sell their own coins

 

[Snyper564]

Another way of looking at it is asking the banks to provide you the fx at spot not one will

 

[NarrowBandFtw]

add to the above, USDT and USDC don't actually trade at a perfect 1:1 with USD either, it's very close to it most of the time, but almost never exactly 1:1 (more like 1:1.003 or 0.999:1 etc)