Introduction

There are many popular exchanges that exist in the crypto world, but only a few platforms enjoy the spotlight, exchanges like Binance, coinbase, uni swap, and kucoin are popular names, however, I am going to discuss my first contact with crypto and my transition to finance exchange. I would consider this exchange as my favorite local exchange because it provides a quick exchange for my local fiat currency.

I will be discussing these vital points that make Luno a standout platform in the Nigerian market :

• Fast Services.
• Optimal Account Security
• Easy and Friendly user interface.
• Zero transaction fees(Only on exchange platform)

Fast Services

Hundreds of thousands of Nigerians use luno as their gateway to the crypto world, the reason is largely because of the fast services operated by the luno. You could deposit funds in your luno account and purchase bitcoin in minutes and trade against other crypto assets or other fiats currencies, this particular feature has been the secret to luno prominence and success in the Nigerian market.

Local markets

Luno also offers a trading ground for trades who wish to trade and swap their assets for other cryptos, This exchange provides creative trading tools like an extensive price chart, an order book system where existing and filled others are recorded, zero trading fees for adding liquidity in the luno markets. These and many more are the advantages of using the luno exchange. Luno provides trading leverage for traders by providing these cool features:

Liquidity

Luno provides competitive liquidity that ensures the tightest spreads so that crypto trades are executed as close to the price you want as possible, maximizing your profits. Liquidity is driven by our low fees, high volume, and many active traders who make transactions daily.

Speed

Luno exchange provides light-speed trade execution, Trades are processed in microseconds without compromising reliability or security. Luno boosts of a low-latency trading platform have all the tools you need to make the most of market opportunities, whenever and wherever you are.

Ease

Enjoy an intuitive user experience designed for smooth, efficient trading. Luno is optimized for ease-of-use, offering simple order placement and high-quality charting tools to give you the best chance of success – whatever your experience level.

Optimal Security

Luno provides an unbreachable security door, building user accounts and the exchange as a whole. Unlike other exchanges that have been hacked and millions of investors assets are made aways with, luno has managed to maintain a hack free record, another demanding want in the Nigerian Crypto space. The majority of crypto investors in Nigeria are all new to the crypto ecosystem, so providing a security tight platform is a must-have in the Nigerian world and Luno is doing just that. Luno has these security checks in place for customer protection:

• Two-factor Authentication (2FA) is supported to provide another level of authentication and ensure complete peace of mind.
  With 2FA enabled, you will add an extra layer of protection to your account: a one-time code that can only be generated on your smartphone.

• All web services and communication happens over SSL-secured channels. Wallets are stored using PGP encryption. No individual has direct access to customer Bitcoin funds and regular auditing — both financial and security auditing — ensures that funds are always safe and fully accounted for.

All personally identifiable information, such as ID numbers, names, and identity document scans, are encrypted and securely stored. Access to this information is logged and strictly controlled on a need-to-know basis.

• Strong passwords are also a way to secure traders' funds. A password allows a trader to log in from any computer and access his funds seamlessly while providing optimal security.

Easy Interface

Luno is designed to interact with the user, a typical Nigerian user sing luno for the first time can migrate and place transactions on the platform due to the easy and friendly interface while operating on the highest level.

How to place a buy/sell order on Luno Exchange

• First select the preferred asset or coin you wish to swap or trade.
• Select your preferred price or sell price in Naira for Nigerian users.
• Select the amount of asset you wish to buy or sell, in this case, the preferred asset is BTC, so you select how much BTC you wish to buy.
• After observing these steps, you can go ahead and click the buy/sell button

For participating or creating an order, you automatically become a market maker and entitle to a zero transaction fee for any buy or sell transaction you make.

Low Trading fees

All the exchange fees in Luno exchange are almost Zero if you trade on the exchange platform. They feature some of the lowest transaction fees in the Nigerian sector.

Trading fee Scheme on Luno

Conclusion

I have been around this exchange for a few years now and I will say it's always my first option whenever I want to convert my cryptos to my local fiat currency.

1. What is the best exchange in your view and why?-Luno is my best local exchange because I can quickly convert my cryptos to my local fiat asset effortlessly and swiftly.

2. What are the best features of this exchange?- Zero transaction fees for the market makers and automatic withdrawal to the customer account.

3. Are there any features you think that the exchange needs to improve or add?- I think the exchanges should add more cryptos other than the top 5 coins.

4. How long have you used this exchange, and how did you find out about it?- I have been using
   more than 3 years now, I got introduced to luno by my boss @focusnow.

5. How often do you use the exchange and what sorts of transactions do you do on it?- I use it once in a while whenever I want to sell to fiat.

6. Has the exchange run any promotions or contests that you have taken part in?- Apart from the referral program, None.

7. Would you invite your friends to join the exchange? Why?- Of course.

8. If you didn't use this exchange what would be your next choice?- I think Binance is mt next option.