What is Luno and how does the cryptocurrency exchange work?

Luno is a digital platform that functions as a cryptocurrency exchange, enabling individuals to buy, sell, trade, and store cryptocurrencies like Bitcoin and Ethereum. Users can set up an account on Luno, complete necessary verification processes for security, and then deposit traditional currency using various methods such as bank transfers or credit cards. Once they have funded their accounts, users can engage in trading by placing buy or sell orders at their chosen price points. The Luno exchange matches these orders through its trading engine, executing transactions when corresponding buy and sell orders align. The platform also provides a digital wallet service for users to store their cryptocurrencies securely. With a user-friendly interface and features intended for both beginners and experienced traders, Luno facilitates convenient access to the cryptocurrency market for a global customer base.