Bitcoin Cash now Available on Luno
Luno, the blockchain-based digital currency firm with a presence across the world, announced the integration of Bitcoin Cash (BCH) into their platform, this according to news published by thenews.asia on September 25, 2019.
According to the company, the decision was made based on the performance of Bitcoin Cash, which has proven to be a safe and convenient asset for daily transactions, whilst also considering that some users already had a Bitcoin Cash wallet activated on their accounts.
Luno’s decision comes after collecting feedback from its users, which was not taken lightly as according to Luno, the security and trust of its customers come before anything else.
The integration was almost a natural transition.
As reported by thenews.asia, Luno plans to add more cryptocurrencies on its platform. The strategy used by the English company, unlike most exchanges before they integrate a new cryptocurrency to their platform, Luno monitors the asset for some time to guarantee its users the best cryptocurrencies on the market.
As explained by Marius Reitz, General Manager Africa for Luno, who stated:
“We are very cautious about new coins. We only add new coins once we are confident of their security, credibility, and market traction.”
The past year of activity has produced the fruits of the hard work carried out by the company with offices in the UK, South Africa, Indonesia, Nigeria, Singapore, and Malaysia. Luno can count on more than three million users of which one million have been acquired over the last 12 months.
Its services are available in over 40 countries and going ahead these figures will likely increase.
Luno is one of the pioneers in the sector. Initially launched as a wallet in 2013 under the name of BitX, it subsequently developed an exchange which allows operations between traditional currencies and bitcoin.
Marcus Swanepoel, Co-Founder, and CEO of Luno, explained that their strategy focuses on developing nations where cryptocurrencies can be used for their primary function, which is to be a real alternative to banking systems.
However, as reported by BTCManager in August 2019, Mr. Swanepoel also believes that so far Bitcoin has been used mostly as a speculative asset.