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Luis Clark
Luis is a personal finance expert who has been passionate and writing about crypto for more than five years.
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    AltCoinTrader vs. Luno 2023: Features and Fees

    Altcointrader Review

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    luno crypto wallet south africa

    AltCoinTrader and Luno are two of the biggest cryptocurrency exchanges for South Africans. Both platforms allow investors to easily buy, sell, and trade cryptocurrencies using the South African Rand (ZAR).

    AltCoinTrader vs. Luno: Verdict

    After our usage and research of both crypto exchanges, we discovered that AltCoinTrader is a more comprehensive and affordable exchange than Luno. In this AltCoinTrader vs. Luno comparison, we reveal how the exchanges compare. 

    Here, we compare the positives and downsides of using AltCoinTrader and Luno for South African investors to give you an idea of which is better suited for your personal needs.

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    AltCoinTrader vs. Luno: Unique Features

    Below, we highlight some of the key features of AltCoinTrader and Luno to see how they compare. 

    Deposits and Withdrawals

    One of the standout features of AltCoinTrader and Luno for SA traders is the centralized exchanges’ support for ZAR deposits and withdrawals. Both crypto exchanges support crypto deposits and withdrawals similar to other cryptocurrency exchanges worldwide. But with the additional support for ZAR, investors in the country have crypto trading platforms that are particular about their needs.

    However, while AltCoinTrader has only ZAR as its supported fiat currency, Luno supports ZAR and 7 other fiat currencies. These include global currencies like EUR and USD. In other words, the average investor will prefer Luno because of its multiple options for payment support. Thus, Luno comes out as the winner of this section. 

    Instant Buy/Sell

    Altcointrader easy buy and sell

    Both AltCoinTrader and Luno offer users the instant buy/sell feature to conveniently purchase or trade crypto assets. This feature is particularly suitable for beginner investors interested in a solution to instantly buy crypto or sell their assets.

    However, while AltCoinTrader combines the buy and sell features for instant purchases and sales, Luno supports instant buying only. In other words, AltCoinTrader wins this category because of the additional instant sell feature.

    ZAR Trading Pairs

    Apart from both exchanges supporting ZAR fiat currency, SA investors will be glad to know they can trade ZAR pairs using live market prices on AltCoinTrader and Luno. This means investors can directly trade with ZAR to save time instead of going through hoops of converting ZAR to another fiat currency or crypto before trading. 

    However, while Luno offers only 8 different pairs denominated in ZAR (including BTC/ZAR, ETH/ZAR, and XRP/ZAR), AltCoinTrader has 30+ ZAR trading pairs (including low market options like XLM/ZAR, TRX/ZAR, SHIB/ZAR, and more). Therefore, AltCoinTrader wins in this section as well.

    Mobile App

    luno mobile app

    Both AltCoinTrader and Luno support mobile-first users with mobile apps available on Android and iOS devices. The mobile applications are user-friendly and straightforward for beginner and pro traders who want to trade on the go and monitor their accounts anywhere.

    Luno has a 3.9 rating on the Google Play Store and a 4.3 rating on the Apple App Store. In contrast, AltCoinTrader has a 3.5 rating on Google Play Store and a 3-star rating for iOS. In other words, the Luno app has a better rating among users, and gives Luno the edge in this category. 

    Winner in Unique Features

    Luno has a 3.9 rating on the Google Play Store and a 4.3 rating on the Apple App Store. In contrast, AltCoinTrader has a 3.5 rating on Google Play Store and a 3-star rating for iOS. In other words, the Luno app has a better rating among users, and gives Luno the edge in this category. 

    AltCoinTrader vs. Luno: Cryptocurrencies Available

    In terms of crypto support, Luno and AltCoinTrader are wide apart. Luno supports only ten cryptocurrencies, a small number with respect to other top exchanges, while AltCoinTrader supports 30+ assets. However, it’s important to note that Luno supports most of the major cryptocurrencies like Bitcoin, Bitcoin Cash, Ethereum and Litecoin. 

    Winner in Crypto Availability

    The standout feature of AltCoinTrader in this category is that the exchange supports popular crypto currencies like Bitcoin and Ethereum. Users who also want to trade less-popular altcoins like Stellar (XLM), Tron (TRX), Shiba Inu (SHIB), and Flare Token (FLR) will find them on AltCoinTrader as well. Thus, AltCoinTrader stands taller in this category. 

    AltCoinTrader vs. Luno: Fees

    Fees are arguably one of the most important aspects of an exchange that investors must consider when choosing a crypto trading platform. We’ll break down the fee structures for Luno and AltCoinTrader below for a better comparison. 

    From the fee comparison table above, it’s clear to see that AltCoinTrader and Luno offer low trading fees. However, AltCoinTrader’s instant buy/sell fee is significantly lower than Luno’s. In contrast, ZAR withdrawals are free on Luno, so users get complete value for their withdrawals. On the other hand, AltCoinTrader charges a withdrawal fee.

    Winner in Fees

    Significantly, fiat deposit fees on AltcoinTrader are pegged at ZAR 95, while Luno has no maximum fee limit, so AltCoinTrader wins.

    AltCoinTrader vs. Luno: Payment Methods

    The payment methods supported on both exchanges are fiat and crypto. However, while AltCoinTrader supports only ZAR, Luno supports 8 fiat currencies, including ZAR. In addition, Luno supports electronic funds transfers (ETFs) via bank wire transfers and direct cash deposits via debit cards

    On the other hand, AltCoinTrader supports only bank deposits and instant ETFs via a third-party payment provider called Ozow

    Winner in Payment Methods

    Luno wins this category because of its additional fiat currency and card transactions support.

    AltCoinTrader vs. Luno: Security

    How to contact Altcointrader support

    Luno and AltCoinTrader offer various security features to protect clients’ data and assets. Both exchanges have an active know-your-customer (KYC) policy in compliance with the government’s regulations. This requires users to verify their identities after creating an account. 

    Similarly, the exchanges deploy Secure Sockets Layer (SSL) encryption to protect their websites from cyber attacks or hacks. Two-factor authentification (2FA) is also available when users sign in to Luno or AltCoinTrader, which is common in the crypto industry. 

    However, it is important to note that AltCoinTrader is limited in security compared to Luno. For instance, Luno states that it stores most users’ assets in a “deep freeze” cold storage that is entirely offline. The exchange also stores users’ private keys offline, and they are managed by a third-party security company called BitGo

    Winner in Security

    With the additional security features on Luno, the exchange takes the win in the security section of our comparison.

    Bitbuy vs. Binance: Earn/Staking Rewards

    One major downside to Luno is that it doesn’t offer alternative ways to earn passive income from crypto holdings. Investors interested in earning passive income will prefer AltCoinTrader for this reason because the crypto exchange has an “Easy Save” feature. This feature allows users to lock in and save their assets for periodic rewards of up to 5.23% APY.

    Winner in Earn/Staking Rewards

    With the crypto savings offering on AltCoinTrader, the exchange wins this category. 

    AltCoinTrader vs. Luno: Usability

    Both Luno and AltCoinTrader offer simple trading platforms for users to buy, sell, and invest in cryptocurrencies. The exchanges’ websites and mobile applications are built for easy accessibility by traders across all levels. 

    However, from the website’s homepage, it’s easy to see that AltCoinTrader has an outdated interface, and lots of information is scattered. This can make the crypto exchange less attractive to modern users.

    On the other hand, Luno’s very clean and colorful interface makes it more appealing. The exchange website carefully lays out its different features and other necessary information. Luno also separates the trading market from the home screen to prevent information overload.

    Winner in Usability

    Overall, Luno has a more modern design, and offers a better user experience, making it the winner in this category.

    AltCoinTrader vs. Luno: Customer Service

    When investors get stuck or have issues using AltCoinTrader, they can contact the exchanges’ support team via email or phone. However, the support team is only available on weekdays from 9 am to 4:30 pm. In contrast, Luno only offers support via email.

    Both companies also offer educational materials to customers, but AltCoinTrader has very limited resources compared to Luno. However, while Luno has a 4-star rating for customer support on Trustpilot, AltCoinTrader has a poor 2.4-star rating. Online reviewers rate Luno highly because of its user-friendly interface and competitive fees. On the other hand, users berate the poor support and delayed withdrawal on AltCoinTrader.

    Winner in Customer Service

    Luno wins in customer service.

    Conclusion: Final Verdict

    In this AltCoinTrader vs. Luno review, we’ve seen that AltCoinTrader is superior to Luno in terms of coin support, available ZAR trading pairs, and fees. But Luno thrives with its mobile app, excellent customer service, security features and payment methods.

    Overall Winner

    Overall, AltCoinTrader slightly edges Luno because of its additional crypto services, such as the savings feature for passive income, and its advanced trading market for experienced investors.


    Most frequent questions and answers

    Binance is the best platform for crypto traders in South Africa. The global exchange offers one of the lowest fees and supports over 350 cryptocurrencies. 

    It is possible to lose money on AltCoinTrader or any other cryptocurrency exchange. This is because cryptocurrencies are volatile assets regardless of where they are traded. Ensure to do your own research before investing in crypto. 

    The Luno wallet is susceptible to being hacked because it is a hot wallet. However, the exchange secures it with multi-signatures for all crypto transactions, and private keys are backed up offline.

    Since Ethereum mining is no longer available, the most profitable altcoin to mine at this stage is Dogecoin (DOGE). The coin is the largest memecoin and has one of the lowest difficulty mining scores. 

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    Skrumble.com provides all its content for informational purposes only, and this should not be taken as financial advice to buy, trade, or sell any investment instruments or products, including but not limited to cryptocurrencies, or use any specific exchange. Please do not use this website as investment advice, financial advice, or legal advice, and each individual’s needs may vary from that of the author. Investing in financial instruments, including cryptocurrencies, carries a high risk and is not suitable for all investors. It is possible to lose the entire initial investment, so do not invest what you cannot afford to lose. We strongly advise conducting your own research before making any investment decisions. This post includes affiliate links with our partners who may compensate us.

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