Luno adds Cardano and Solana support to its platform

  • Cardano support has launched this week
  • Luno says that Solana will be supported early next month
  • The support of the currencies on Luno is not an endorsement of its potential as an investment

Luno has – despite it’s incredible growth over the years – kept it’s cryptocurrency support to Bitcoin, Bitcoin Cash and Ethereum for the longest time.

That changed this week when the firm announced support for two additional cryptocurrencies – Cardano and Solana. Cardano can be traded on Luno right now while Solana will be supported from “early next month”.

This is notable because Luno has been very tentative about bringing new currencies to the platforms and for good reason, there have been many scams and opportunists.

“Luno is very selective about the coins it makes available to customers on the app. We believe in building for the long term, so we want to ensure customers have access to newer crypto applications that have a promising future like ADA and SOL,” country manager for Luno South Africa, Christo de Wit, wrote in a press release.

The cryptocurrency exchange has of course cautioned users that listing Cardano and Solana on its platform is not an endorsement of its potential as an investment.

Of course, cryptocurrency is currently not doing all that well as an investment vehicle. The downturn of cryptocurrencies or crypto winter as it is referred to has seen the value of Bitcoin, Ethereum, NFTs and other digital assets lose immense value over the last few months.

As we aren’t financial advisors we can’t comment on whether now is time to buy but we can warn you to never invest more than you could stand to lose.

At least now Luno makes it a bit easier to trade more cryptocurrencies in South Africa.

This news is republished from another source. You can check the original article here.

Be the first to comment

Leave a Reply

Your email address will not be published.