Selling on Luno

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kaaskop

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Some help please.
If I sell let say 1 bitcoin on Luno from my wallet, I presume the value of it will be credited back to my wallet. In what currency is it while in the wallet?

I am unable to find answers on Google and cannot open an account at Luno to test since I am currently on a ship in the China sea.

Thanks
 
kaaskop said:
Some help please.
If I sell let say 1 bitcoin on Luno from my wallet, I presume the value of it will be credited back to my wallet. In what currency is it while in the wallet?

I am unable to find answers on Google and cannot open an account at Luno to test since I am currently on a ship in the China sea.

Thanks
Click to expand...
That depends on what you sell the BTC for. Here are the Link options although personally I'd rather sell on valr.

Screenshot_20220124_043058_co.bitx.android.wallet.jpg
 
I thought is was going to be something like a fiat currency. All good.

Thanks for the replies and suggestions.
 
kaaskop said:
I thought is was going to be something like a fiat currency. All good.

Thanks for the replies and suggestions.
Click to expand...
ZAR is fiat. So you can sell and leave it in that, or you can choose to rather sell for something like USDC
 
Is there a luno rep still on the forum? Nothing seems to pop up with @ and I'm sure there was.

If not, anyone know if there is a deposit limit for luno. Transfer failed due to recipient account not valid, even though it is
 
acidrain said:
Is there a luno rep still on the forum? Nothing seems to pop up with @ and I'm sure there was.

If not, anyone know if there is a deposit limit for luno. Transfer failed due to recipient account not valid, even though it is
Click to expand...
You have updated to their Standard Bank account after FNB shut theirs down?
 
acidrain said:
Is there a luno rep still on the forum? Nothing seems to pop up with @ and I'm sure there was.

If not, anyone know if there is a deposit limit for luno. Transfer failed due to recipient account not valid, even though it is
Click to expand...

There is a verification level and I believe the deposit amounts change with that.

They need more KYC details to take larger deposits.

However this wouldn’t block the deposits. In fact I can’t think that there would be any way they can block an EFT deposit so most likely as mentioned above the account details are wrong.

The problem is in your banking platform right? No way Luno could impose limits there.
 
Here's the screenshot

1646077389584.png

Account number is right. For the record the payment isn't being made by me but I would think they would have the right bank. That is the next thing I am asking, how ever SBSA is clearly stated on the deposit request they received.

Edit: Looking at their help section, they mention "Deposits must be made using a bank account that belongs to the same person who owns the Luno wallet" which is not the case here. (long story there) Maybe they have some way to match names? or that is just to make allocation easier?
 
Last edited:
It’s possible I guess that could be the reason but not sure if they get that kind of data up front.

Guess we’ll see if my debit order works tomorrow morning.

The account number is correct.

Could they have chosen the wrong account type maybe? It should be Current/Cheque.
 
acidrain said:
Here's the screenshot

View attachment 1256640

Account number is right. For the record the payment isn't being made by me but I would think they would have the right bank. That is the next thing I am asking, how ever SBSA is clearly stated on the deposit request they received.

Edit: Looking at their help section, they mention "Deposits must be made using a bank account that belongs to the same person who owns the Luno wallet" which is not the case here. (long story there) Maybe they have some way to match names? or that is just to make allocation easier?
Click to expand...
Not sure at what stage the payment is failing, but the mismatch names will be an issue
 
acidrain said:
Here's the screenshot

View attachment 1256640

Account number is right. For the record the payment isn't being made by me but I would think they would have the right bank. That is the next thing I am asking, how ever SBSA is clearly stated on the deposit request they received.

Edit: Looking at their help section, they mention "Deposits must be made using a bank account that belongs to the same person who owns the Luno wallet" which is not the case here. (long story there) Maybe they have some way to match names? or that is just to make allocation easier?
Click to expand...
DONT EVER EVER MESS WITH A CRYPTO EXCHANGE AND NOT YOUR ACC ITS PLAYING WITH FIRE

They are super strict here could have funds frozen acc blocked etc
 
Will just do the long way round and fund the receivers own bank account instead of Luno wallet.
 
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