Luno Malaysia Review: Reliable Platform to Invest in Bitcoin

What is Luno Malaysia, and why do so many Malaysians use it to buy Bitcoin?

Luno Malaysia is a regulated cryptocurrency exchange that allows Malaysians to buy, sell, and hold digital assets like Bitcoin and Ethereum using Malaysian Ringgit (MYR). Founded in 2013, it has become one of the most recognisable crypto platforms locally thanks to its simplicity and approval by the Securities Commission Malaysia.

Well, we’ll be going over:

What Luno Malaysia is and how it works for Malaysian users
What features, fees, and cryptocurrencies Luno Malaysia offers
Who Luno Malaysia is best suited for

Let’s dive in.

New to Crypto? Start Investing Safely in Malaysia Today

Luno Malaysia – Buy Bitcoin and Ethereum easily on a local, beginner-friendly app and get RM75 worth of Bitcoin when you invest RM250. Start with Luno.
Hata Malaysia – Invest in crypto with low fees, simple DCA, staking rewards, and access to global markets via Hata Global. Start investing here.
KDX Malaysia – Use a regulated Malaysian exchange and get RM25 worth of Bitcoin after completing KYC and trading RM200. Sign up & trade.
Worldcoin – Claim free crypto by completing verification and receive up to 50.2 WLD at no upfront cost. Claim free crypto.
Ledger Wallet – Secure your crypto offline with a trusted hardware wallet used by millions to protect long-term holdings. Get your wallet now.

Table of Contents

What is Luno Malaysia?

Luno Malaysia is a cryptocurrency exchange that allows Malaysians to buy, sell, and hold digital assets such as Bitcoin (BTC) and Ethereum (ETH) using Malaysian Ringgit (MYR).

Founded in 2013, Luno operates globally with a strong presence in Asia and Africa. In Malaysia, Luno stands out for one key reason: it is regulated by the Securities Commission Malaysia (SC). This makes it one of the few crypto platforms locally that operates within a clear regulatory framework.

For Malaysian investors, this regulation matters. It means Luno follows local compliance standards, including identity verification (KYC) and reporting requirements, which adds an extra layer of trust and accountability compared to unregulated overseas exchanges.

Key Features of Luno Malaysia

Regulated Platform – Luno Malaysia is regulated by the Securities Commission Malaysia, giving local users more confidence compared to using unregulated overseas crypto exchanges.
MYR Support – Users can easily deposit and withdraw funds in Malaysian Ringgit (MYR) through local bank transfers without worrying about foreign exchange fees.
Beginner-Friendly App – The app has a clean and simple interface that makes buying, selling, and tracking cryptocurrency easy, even if you are completely new to crypto.
Instant Buy & Exchange Options – Luno allows users to choose between Instant Buy for convenience or the Exchange for lower fees and more control over pricing.
Recurring Buy (Dollar-Cost Averaging) – Users can automate regular Bitcoin purchases at fixed intervals, helping to build long-term holdings without trying to time the market.
Built-In Custodial Wallet – Luno provides an in-app wallet that securely stores your cryptocurrency, removing the need to set up or manage an external wallet yourself.

Why I Still Use Luno Malaysia

I’ve tried and explored different platforms over the years, but today, I only use Luno for one purpose: buying and holding Bitcoin.

I’m not actively trading, chasing altcoins, or trying to time the market. My approach to crypto is intentionally boring — I buy Bitcoin, hold it long term, and let time do the heavy lifting. For this strategy, Luno does exactly what I need it to do.

What keeps me on Luno is its simplicity and regulation. I like knowing that the platform is regulated in Malaysia, supports MYR deposits, and doesn’t tempt me with risky features. The clean interface also helps me stay disciplined so that I’m less likely to overtrade or make impulsive decisions.

Yes, Luno isn’t the cheapest platform if you’re optimising every single fee, and it doesn’t offer advanced tools. But for long-term Bitcoin holding, I’m comfortable trading a bit of optimisation for peace of mind and ease of use.

In short, Luno fits my current crypto strategy well, simple, regulated, and focused on holding Bitcoin rather than constantly chasing after the next shiny object.

How Luno Malaysia Works

Luno Malaysia is designed to make buying and holding Bitcoin simple, especially for beginners. Below is a clear, step-by-step overview of how the platform works, from account creation to holding your crypto.

Step 1: Create a Luno Account

Start by downloading the Luno mobile app or signing up on the Luno website. The registration process is quick and only requires basic personal details such as your name, email address, and mobile number.

Step 2: Complete Identity Verification (KYC)

To comply with Malaysian regulations, Luno requires all users to complete identity verification before investing. You will need:

A clear colour photo or scan of your Malaysian identity card (MyKad)
A recent selfie taken within the last 24 hours

Once submitted, verification is usually completed within a short period, after which your account will be fully activated.

Step 3: Deposit Malaysian Ringgit (MYR)

After verification, you can fund your Luno account using Malaysian Ringgit (MYR). Luno supports several local payment methods, including bank transfer, FPX instant transfer or Touch ’n Go eWallet. This makes it easy for Malaysians to deposit funds without dealing with foreign exchange fees.

Step 4: Buy Bitcoin on Luno

With funds in your account, you can start buying Bitcoin immediately. Luno offers two buying options:

Instant Buy, which is fast and beginner-friendly but comes with higher fees
Luno Exchange, where you can place limit orders at your preferred price for lower fees

For long-term investors, the Instant Buy option is often sufficient, while the Exchange is better suited for users who want to optimize fees.

Step 5: Set Up Recurring Buys (Optional)

Luno allows users to automate regular Bitcoin purchases through its Recurring Buy feature. You can choose daily, weekly, or monthly intervals, making it easier to practise dollar-cost averaging and invest consistently without timing the market.

Step 6: Hold or Withdraw Your Bitcoin

Once purchased, your Bitcoin is stored securely in Luno’s built-in custodial wallet. You can hold Bitcoin long term, send Bitcoin to another wallet or withdraw funds back to your Malaysian bank account. For beginners and long-term holders, keeping Bitcoin within Luno’s wallet offers convenience and ease of management.

Types of Digital Assets Listed on Luno Malaysia

Instead of listing every new coin, Luno focuses on well-established and widely recognised digital assets, which generally appeal to long-term and beginner investors.

As of now, users can buy, sell, and hold 18 digital assets on Luno Malaysia:

While this selection is smaller compared to large international exchanges, it helps reduce complexity and limits exposure to highly speculative tokens.

All supported cryptocurrencies can be stored directly in Luno’s in-app wallet, so there’s no need to set up an external wallet or manage private keys. Users can also easily send and receive crypto within the app.

Luno’s Recurring Buy feature lets users automate daily, weekly, or monthly purchases, making it easier to practise dollar-cost averaging without trying to time the market.

Luno offers a simple Exchange with limit orders for users who want more control over pricing, but it does not support advanced trading features like margin or futures.

Staking is available for 6 assets (ETH, SOL, ADA, ATOM, DOT and NEAR), with rates and availability varying over time.

Fees and Charges

1. Crypto Buying & Selling (Instant Buy): Up to 2% per transaction, applied when buying or selling cryptocurrency directly from the Wallets screen for convenience.

2. Luno Exchange Trading Fees: 0.60% to 0.13% taker fee, depending on your 30-day trading volume, with lower fees for higher volumes.

3. MYR Deposits: Free, with a RM1.00 fee applied for deposits below RM100 via bank transfer, FPX, or Touch ’n Go eWallet.

4. MYR Withdrawals: RM0.10 per withdrawal, with same-day processing for weekday withdrawals made before the cut-off time.

5. Recurring Buy Fees: Uses Instant Buy pricing, meaning the same fees apply to automated purchases.

6. Staking Fees: Luno deducts a percentage of staking rewards before distribution (ETH: 30%, SOL: 35%, ADA: 20%, NEAR: 35%, ATOM: 40%, DOT: 35%).

7. Cryptocurrency Withdrawal Fees: Dynamic network fees apply when sending crypto, based on current blockchain demand (XRP has a fixed fee).

8. Account Opening & Maintenance Fees: None — there are no fees to open, maintain, or close a Luno account.

Pros of Using Luno Malaysia

1. Regulated by the Securities Commission Malaysia

Luno Malaysia is one of the few cryptocurrency exchanges regulated by the Securities Commission Malaysia, giving local users greater confidence compared to using unregulated overseas platforms.

2. Beginner-Friendly Interface

The clean and intuitive app design makes it easy for beginners to buy, sell, and hold cryptocurrency without feeling overwhelmed by complex charts or trading tools.

3. Easy MYR Deposits and Withdrawals

Luno supports deposits and withdrawals in Malaysian Ringgit (MYR) through local bank transfers, FPX, and Touch ’n Go eWallet, removing the need for currency conversion.

4. Suitable for Long-Term Bitcoin Investing

Luno works well for buy-and-hold investors who want a simple way to accumulate Bitcoin without actively trading or monitoring the market daily.

5. Recurring Buy for Dollar-Cost Averaging

The Recurring Buy feature allows users to automate regular Bitcoin purchases, helping investors stay consistent and reduce the risk of poor market timing.

6. Built-In Custodial Wallet

Luno provides an integrated wallet that stores your cryptocurrency securely, which is convenient for users who are not ready to manage external wallets or private keys.

7. Educational Resources for Beginners

Luno offers built-in guides and educational content that help new users understand crypto basics, security practices, and responsible investing.

8. Local Support and Familiar Platform

As a platform widely used in Malaysia, Luno offers localised support and payment methods, making it more approachable for first-time crypto investors.

Cons of Using Luno Malaysia

1. Higher Fees for Instant Buy Transactions

While convenient, Luno’s Instant Buy feature comes with higher fees compared to using the Exchange or some international platforms, which can reduce returns over time.

2. Limited Cryptocurrency Selection

Luno offers fewer cryptocurrencies than global exchanges like Binance, which may not appeal to users looking to invest in a wide range of altcoins.

3. Basic Trading Tools Only

The platform is designed for simple investing, so experienced traders may find the lack of advanced features like margin trading, futures, or complex order types limiting.

4. No Access to Private Keys

Luno uses a custodial wallet model, meaning users do not control their private keys, which may be a drawback for investors who prioritise full self-custody.

5. Not Ideal for Active Traders

With higher fees on Instant Buy and limited advanced tools, Luno is not well-suited for frequent trading or short-term strategies.

6. Limited Staking Options

Although Luno offers staking for selected assets, the options and rewards are more limited compared to platforms that focus heavily on yield-based products.

Who Should Consider Investing in Luno Malaysia?

1. Beginner Crypto Investors – Luno Malaysia is a good starting point if you are new to cryptocurrency and want a simple, easy-to-use platform to buy your first Bitcoin.

2. Long-Term Bitcoin Holders – If your strategy is to buy Bitcoin and hold it for the long term, Luno provides a straightforward and regulated way to accumulate BTC without unnecessary complexity.

3. Investors Who Prefer a Regulated Local Platform – Malaysians who value regulation and local compliance will appreciate that Luno is regulated by the Securities Commission Malaysia and supports MYR deposits and withdrawals.

4. Users Practising Dollar-Cost Averaging (DCA) – Luno’s Recurring Buy feature suits investors who want to invest consistently over time without trying to time the market.

5. Casual Investors Who Want Simplicity – If you are not interested in active trading, advanced tools, or managing private keys, Luno’s simple app and built-in wallet make investing easier. Individuals who appreciate engaging features like referral bonuses and price prediction games, offering fun ways to earn extra rewards.

Conclusion: Is Luno Malaysia Worth It?

Yes, Luno Malaysia is worth considering if you want a simple, regulated, and beginner-friendly way to buy and hold Bitcoin in Malaysia. It’s especially suitable for Malaysians who prefer a straightforward platform with local MYR support and minimal complexity.

Luno Malaysia is particularly suitable if you:

Want a regulated crypto platform approved by the Securities Commission Malaysia
Prefer buying and holding Bitcoin rather than actively trading
Need easy MYR deposits and withdrawals through local banks
Plan to invest consistently using dollar-cost averaging (Recurring Buy)
Value simplicity and ease of use over advanced trading features

However, if your priority is active trading, accessing a wide range of altcoins, or having full control of private keys, Luno may not be the best standalone platform for you. In those cases, you may need to complement Luno with another exchange or a self-custody wallet.

Overall, Luno Malaysia works well as a “boring but reliable” crypto platform. For long-term Bitcoin investors who want peace of mind, local regulation, and an easy-to-use app, Luno does exactly what it promises.

Luno Malaysia Review: Reliable Platform to Invest in Bitcoin

What is Luno Malaysia?

Key Features of Luno Malaysia

Why I Still Use Luno Malaysia