Luno helps people explore growing world of crypto uses

The crypto industry continues to explore potential applications; at Luno, we offer a clear and guided approach that makes it simple and accessible to the world.

You may have heard Bitcoin and other cryptocurrencies described as ‘digital money’, but crypto technology is now being used in areas beyond currency. The same technology that Bitcoin is built on (blockchain) is being applied to very different opportunities – in everything from trying to make insurance payments easier to creating more immersive video games.

Over the coming months, you’ll be able to explore and invest in more of these newer cryptocurrencies and digital assets safely and securely with Luno. We wanted to explain a little bit about why we’re doing this and what it means for you. 

Your guide to crypto

Innovators and investors all around the world are exploring different uses for crypto technology. This significantly increases the potential impact of crypto, though it also means there’s a lot more for investors to understand. You can read more about this here. 

The first Digital Asset Classification Standard recently categorised the different cryptocurrencies, grouping them by shared features and uses in different areas to make this growing space easy to understand and invest in. These categories include Currency, Smart Contracts, Computing, DeFi and Entertainment. 

While it’s vital to note that these newer crypto applications are still in their very early stages, we at Luno feel that it’s important that we give you access to these investment opportunities, while offering you the careful guidance and rigorous security that our 10 million customers already trust and love us for. 

Always do your own research!

All the cryptocurrencies we add to our platform will meet our standards for safety, but being listed on Luno is never an endorsement of the future potential of an investment. We assess them based on factors like security, compliance, and utility, as well as using insights from experts, like CoinDesk. We will continue to provide clear and unbiased content to help you in your decision making, but you should always do your own research and exercise good judgement before investing. 

What’s coming, when?

We want to be clear that we’re not going to add every cryptocurrency requested by our 10 million customers. We also want to be clear that this is not all going to happen overnight. Support for any cryptocurrency requires careful technical and compliance review and may be subject to regulatory approval in some jurisdictions. Our priority remains ensuring the same simple and secure experience that has enabled us to successfully support so many people around the world as they get started with cryptocurrency. 

While we cannot guarantee whether or when any cryptocurrency will be listed on Luno in any jurisdiction and on what timeline, we can promise that we continue to work to offer you the simple and secure investment experience that you rely on us for.

You can also count on us to keep you clearly and quickly informed as we grow our digital asset offering in the coming months. Stay tuned!

And to further explore the different uses for crypto technology and decide for yourself how you might like to invest in digital assets, click here to read more.