A Review Of LUNO’s Bitcoin Interest Account

Ché Köhler
3 min readOct 30, 2020

As interest rates continue to drop across the world investors all over the world are looking for places to store their money and secure a yield!

As you may know by now I’ve been using CE-FI platforms like BlockFI and Celsius Network for some time and despite the obvious issues with storing your Bitcoin on a centralized service where you don’t have the keys I am willing to risk a little capital to earn a few Sats.

Today Luno has jumped into the space with its CE-FI service which is optional you don’t have to say place your Bitcoin in their savings account but if you feel like earning you can set up the savings wallet in your app.

How to start earning with Luno

You will need to first login to the Luno app create an account, go through all the KYC and once you’re verified you can set up a BTC wallet.

Once you’ve set up a BTC wallet you can either send BTC to the wallet or top up your BTC wallet with a fiat order via bank deposit.

Now that your BTC wallet is set up you’ll need to set up a savings wallet and transfer your BTC! The transfer has no fee and you’ll start earning 4% on your BTC paid per month.

There is no lock-up period and you can pull your funds at any time!

Note: These are NOT on-chain transactions and since these are not your keys it’s not your Bitcoin so buyer beware

The verdict

I think the service is a great solution for normies and HODL’rs looking to earn a little income and adds a new dynamic to Luno. As more companies compete for our Bitcoin these services are only going to get better as they would not want to be decapitalized and see users pull a bank run and leave them insolvent

The interest rate is not fixed so it can vary depending on their discretion it can be changed at any time so you are at the mercy of the service for your returns

At the moment it also seems that BTC is the only supported asset even though they also support ETH, BCH, XRP and LTC.

The payments are also paid per month which gives you less flexibility compared to a Celsius or a staking coin so you can’t take profits and move them around as you would like as with over options.

Finally, the BTC you submit is then rehypothecated and given to a 3rd party lender to be used so you’re not actually sure where your capital is allocated to or what it is being used for but if that’s not an issue and you just want your returns then by all means

Give Luno a try

If you’ll like to try out LUNO and would like to earn a little extra BTC to stake then use my referral link here

When topping up your account for the first time you can qualify for a bonus using the link above.

  • Add ZAR500 get R25
  • Add EUR 250 get 15 EUR
  • Add GBP 250 get 15 GBP
  • Add AUD 200 get 20 AUD

Sources: Leofinance

Disclaimer: This article should not be taken as, and is not intended to provide any investment advice and is for educational purposes only. As of the time posting the writers may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency as all investments contain risk.



Ché Köhler

Co-founder of nichemarket, a South African Business Directory and digital marketing agency — https://www.nichemarket.co.za/ ⚡️dressyvise20@walletofsatoshi.com