Luno adds Bitcoin Cash Trading
Luno Exchange Adds Bitcoin Cash Trading
September 30, 2019
Luno adds Bitcoin Cash Trading
Luno Exchange Adds Bitcoin Cash Trading
September 30, 2019

Luno exchange has added bitcoin cash trading to the platform following feedback from its client base. BCH is now only the third cryptocurrency that is available for trading on the exchange, in addition to BTC and ETH, but more options could be on the way once it confirms that they are credible enough.

Luno is formerly known as Bitx, recently announced that bitcoin cash was made available on its cryptocurrency exchange. Starting from September 23 (Monday), customers at Luno are now able to store, buy and sell BCH on the platform. Likewise, the reason given for adding BCH to the exchange is feedback from users in developing markets that convinced Luno to extend their offering from previously just BTC and ETH.

Marcus Swanepoel, the CEO of Luno, stated:

“We are in a new and exciting financial era. Developing economies are leading the large-scale adoption and application of cryptocurrencies. Luno has been part of this change and has listened to, and always worked hard to understand the needs of these developing economies. It is for this reason we have moved to expand our offering of secure and legitimate digital currencies to individuals, enabling cross-functional accessibility and transfer of funds.”

Marcus Swanepoel

However, the Luno team promised their clients that the offering will continue to extend after the addition of bitcoin cash, with new digital assets to trade on the platform. They also confirmed users that safety will continue to come first and explained that any new coins added to the platform will have been monitored by the company for several years, having the credibility to make it onto one of the world’s leading cryptocurrency exchanges.

Marius Reitz, General Manager for Africa at Luno

Marius Reitz, the General Manager for Africa at Luno, commented:

 “There are over 2,000 cryptocurrencies in the market and we take our role as a trusted platform very seriously. We are therefore very cautious about new coins. We only add new coins once we are confident of their security, credibility, and market traction.”

Marius Reitz

However, the company claims to have around 3 million users worldwide, spread across 40 countries. Luno also has local offices in South Africa, Indonesia, Nigeria, Singapore, and Malaysia, with a workforce of over 300 employees around the world.

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Ishita Bora

Ishita Bora is a Senior Content Creator at Digital Notice Media Labs with experience of 1.5 years. She has completed her Master's Degree in Language and Linguistics in 2019 from Gauhati University, India. Her interest lies in blockchain technology and cryptocurrency space. She loves writing about blockchain and other blockchain-related articles.