luno cryptocurrency

A guide on how to easily buy and invest in Bitcoins

Interest in cryptocurrency, like the price of Bitcoin, has reached new heights in recent times. With all the buzz surrounding cryptocurrencies lately, you might be wondering if it’s time for you to take notice of this booming industry.

On the business side, a growing number of companies are already entering the crypto scene.

Twitter recently became the first major social network to allow its users to request Bitcoin tips, while Paypal introduced a feature allowing users in the United States to buy, sell, and hold Bitcoin, Ethereum, Litecoin, and Bitcoin Cash through the platform.

Closer to home, Singapore has emerged as a key blockchain and crypto hub in Asia, with many companies joining the bandwagon.

The local Ryde Rideshare app, for example, allows its customers to pay for rides with Bitcoin, which can be converted to RydeCoin without transaction fees.

DBS Bank, Southeast Asia’s largest bank, launched a crypto exchange in December 2020, and OCBC recently expressed interest in continuing the same move.

Needless to say, the growing level of adoption – both locally and globally – indicates that cryptocurrency is here to stay and that it will be impossible to ignore.

How can I learn more about cryptocurrencies?

For a beginner, getting into cryptocurrency can be quite intimidating. Even for experienced cryptocurrency investors, the space can feel like it’s swimming in a sea of ​​information, with no idea how to filter for accuracy or quality.

Questions like “What is Bitcoin mining?” “,” Why are there only 21 million Bitcoins “,” Can I buy half of a Bitcoin? ” And “What will happen when all the Bitcoins are mined?” Are just a few of the intuitive (and important) questions that come to mind as you explore this space.

The good news is that Luno, one of the world’s leading cryptocurrency platforms, has a few media where you can access succinct, digestible cryptocurrency information and key industry updates.

1. Luno Blog

luno blog
Image Credit: Luno

Luno’s blog page is a great source of information that features the latest news, events, and research pertaining to the crypto industry. If you are looking to keep up with the latest crypto events around the world, this is a great place to start.

2. The Luno learning page

luno learning portal
Image Credit: Luno

With articles and explanations ranging from “Where Did Bitcoin Come From?” to “What is the difference between Bitcoin and Ethereum?” The Luno Learning Page is a one-stop-shop looking to answer all of your burning cryptocurrency questions.

It also contains a glossary of all the terms you need to know on your cryptocurrency journey, from Altcoins to learning token standards like ERC-20.

3. Luno’s YouTube channel

luno youtube
Image Credit: Luno

It’s common knowledge that YouTube is a treasure trove of knowledge and information, and it’s no different when it comes to cryptocurrency.

Luno’s YouTube channel is an incredible source of information on everything crypto-related, from Bitcoin to smart contracts, all presented in a fast, interactive video format in short durations.
Now that we have talked about how to learn more about cryptocurrencies, the next step is how to start buying cryptocurrencies?

Get started with Luno in three easy steps

One of the best beginner’s platforms to buy your first cryptocurrency is Luno.

Its beginner-friendly platform, intuitive user experience, and readily available learning content have propelled them to the forefront of public awareness of crypto investing.

luno cryptocurrency app
Image Credit: Luno

Using the Luno app, you can buy cryptocurrencies like Bitcoin and Ethereum from S $ 1 for a low price of 0.75%.

To illustrate how easy it is to buy crypto through Luno, even for the first time, here is a step-by-step guide on using the platform.

1. SGD deposit by wire transfer or digital wallet

Depositing your money on Luno is easy. Once you are logged into the platform, click on ‘deposit’ and the platform will guide you on how to securely transfer your SGD.

Luno allows you to deposit your money quickly by making a direct bank transfer using any SGD bank account or digital wallet like StraitsX.

2. Buy your favorite cryptocurrency directly from the main page

Now that you have SGD in your account, all you have to do is select your preferred cryptocurrency to buy. You can choose from Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), Bitcoin Cash (BCH), or USD Coin (USDC).

In addition to a one-time purchase, you can also set up recurring cryptocurrency purchases on a daily, weekly, or even monthly basis, so you can consistently invest like clockwork without lifting a finger.

3. Create a savings wallet to get passive returns on your Bitcoin or Ethereum

Another cool feature of Luno is its Save feature. Much like earning interest on your money with the bank, Luno’s savings wallet allows you to earn up to four percent interest on any BTC or ETH stored there.

Your earnings are then paid in Bitcoin or Ethereum directly into your savings wallet at the start of each month. You can then choose to withdraw your earnings or leave them in your savings portfolio to compound them and grow exponentially.

Now that you’ve had your first taste of cryptocurrencies, it’s time to sit back, relax, and enjoy your well-earned returns.

To learn more about the great features Luno has to offer, you can check out their website here.

Featured Image Credit: Reuters / Luno

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