Luno, the South African Crypto Exchange expands into Australia after hitting 5 million customers

Luno is a South African Cryptocurrency Exchange which was founded seven years ago and not only cites a supportive fintech environment, but also a growing cryptocurrency awareness and adoption.

These were but a few reasons why Luno has made a conceited effort in expanding its services into Australia. This achievement finally became reality in late August when the exchange reached a client base of 5 million users.

This launch had come after Luno had announced that its services would be available in the UK while BitcoinKE exclusively completed registration of Pesabase remittance service in Australia at the same time to include Africa in its remittance services.

Bitcoin has seen a 59% rally despite the Covid-19 pandemic with Bitcoin trading breaking a new record in Australia in February. However, the numbers are lower than expected when taking the country’s economy and economic indicators into account.

In January, cryptocurrency-based merchant trade in Australia reached $44,000 and by February, it had skyrocketed to nearly $74,000.

In the past five years, Australia has experienced a five-fold increase in fin-tech companies along with continued support in its regulatory environment.

For these reasons, amidst numerous others, Australia has been an ideal expansion target for Luno considering its existing operations in several other markets including South Africa, Nigeria, and the UK.

Another driving factor behind the expansion is the young age of the Australian population in addition to the disposable income made.

When considering crypto trading in Australia, there are a few important statistics to note, namely:

  • 17% of the Australian population are in ownership of cryptocurrency
  • At least 1 in every 5 Australians are likely to purchase crypto within the next 6 months
  • At least a third of regular Australian investors spend between $100 to $500 per month on cryptocurrency
  • Most Australians aged 44 and younger believe that cryptocurrency will be widely accepted by people along with businesses
  • In all of Australia, Bitcoin remains the most recognised and owned of all digital currencies
  • More than half of millennials believe that cryptocurrency will be more widely accepted in the future
  • More than half of retirees believe that cryptocurrency is not likely to be widely accepted in the future, and
  • There are approximately 73% of cryptocurrency investors who currently hold Bitcoin, otherwise referred to as BTC.

Cryptocurrency adoption proceeds to grow in Australia and since May and there is a clear display of positive sentiments towards cryptocurrency.

Since the emergence and spread of Covid-19, Luno has seen its client base grow by a million users as the pandemic forced people to seek digital ways through which they could transact and limit contact with others.

Luno is now offering an incentive to its South African customers through connections in Australia and the UK.

With the current rate of adoption of cryptocurrency around the globe, the prospects of expanding further into other territories is one that is quite lucrative and achievable as Bitcoin, and other cryptocurrencies, gain popularity on a global scale.

January 2, 2021 Update: We have just announced our BEST STOCK NEWSLETTER of 2020 AWARD!

CLICK HERE to find out which stock newsletter was up 78% in 2020 (and whose 2019 picks are now up 113%).

*** Our Award for BEST STOCK NEWSLETTER of 2020 ALERT ***

Updated January 2, 2021

At WallStreetSurvivor, we subscribe to dozens stock recommendation and advisory newsletters. There is ONE newsletter that is constantly outperforming all of the others--The Motley Fool Stock Advisor.

Five of their 2020 stock picks have doubled and the average return of all 24 of their stock picks for 2020 is up 78%!

We have been tracking ALL of the Motley Fool stock picks since January 2016. That's 5 years and 120 stock picks. As of Friday, January 1, 2021 the Motley Fool's January stock pick (TSLA) is up 720%, their March pick (ZM) is up 172%, their April pick of SHOP is up 226% and their June pick CRWD is up 120%; and another two have more than doubled. In addition, 10 of their 2019, 12 of their 2018, 11 of their 2017, 15 of their 2016. Most impressively, over the last 5 years that we have been tracking every recommendation, their average stock pick is up 209%--tht means over the last 5 years their stock picks, on average, have TRIPLED!

Now no one can guarantee that their next picks will be as strong, but our 5 years of experience has been super-profitable. The important thing about the Fool stock picks is you have to buy them the day they are recommended because they usually pop 5-10% in the first 72 hours after the release their recommendation. You sure don’t want to risk missing out on their next pick.

Normally the Fool service is priced at $199 per year but they are currently offering a NEW SUBSCRIBER DISCOUNT that allows you to get theiir next 24 stock picks for just $99/year. HERE is the LINK to visit their New Subscriber Discount page.

CLICK HERE to get access to all The Motley Fool’s Stock Picks and their next 12 months of picks for just $99 per Year! 



Robinhood was the first brokerage site to NOT charge commissions when they opened in 2013. They just past 10,000,000 accounts and to celebrate they are offering up to $1,000 in free stock when you open a new account.

Here’s the details: You must click on a special promo link to open your new Robinhood account. Then when you fund your account with at least $10, you will receive one stock valued between $5 and $500. Then, you will get a link to share with your friends. Every time one of your friends opens an account, you will receive another free stock valued between $5 and $500. Click here to learn more about this Special Robinhood offer.

Claim your free stock NOW (before it’s too late)

Comments are closed.