Luno vs Switchere: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Luno and Switchere This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on August 16, 2025

Luno

Switchere

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Available Countries

United States

Europe

Yes

Latin America

India

China

Canada

United Kingdom

Yes

United States

Yes

Europe

Yes

Latin America

Yes

India

China

Canada

Yes

United Kingdom

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Luno is ideal if:

Excellent for beginners – Luno’s interface and mobile app are clean, intuitive, and built with simplicity in mind, making crypto entry easy and user-friendly.
Strong security and compliance – With features like deep-freeze storage and a regulation-first approach, Luno prioritizes the safety and trustworthiness of user investments.
Designed for local currency users in emerging markets – Ideal if you want to trade using your local fiat or participate in markets underserved by bigger exchanges.

Switchere is ideal if:

Effortless fiat-to-crypto gateway – ideal if you want a no-fuss, speedy way to convert USD or EUR into crypto using cards or online banking, with funds delivered directly to your wallet.
Friendly for total beginners – offers a streamlined, intuitive platform that removes complexity, making it a welcoming entry point into crypto for new users.
Regulated and non-custodial setup – delivers peace of mind through legal compliance and ensures you retain control of your crypto by sending purchases straight to your own wallet.

Luno isn’t ideal if:

Limited asset variety – If you seek a broad selection of cryptocurrencies or niche altcoins, Luno’s offering may feel too narrow for you.
Few advanced trading features – Traders who need margin, derivatives, social or P2P trading tools may find Luno’s functionality too basic.
Restricted geography – If you’re located outside its supported regions—or in underserved markets—Luno may not serve you fully or at all.

Switchere isn’t ideal if:

Limited crypto selection – if you're looking for a broad portfolio that includes niche altcoins, Switchere only offers a basic range of major tokens.
Premium pricing for convenience – the platform’s streamlined experience comes with higher-than-average purchase costs, which may deter budget-conscious users.
Browser-only access – no dedicated mobile app means you’ll need to navigate the platform via web browser on phones and tablets, which could affect convenience for on-the-go use.

Fees & Total Costs

Spot Maker/Take

Maker and taker fees adjust based on your rolling 30-day trading volume—makers generally pay no fees while takers see reduced fees at higher tiers, with no discount tied to any native token.

Switchere primarily serves as a straightforward “buy crypto” service rather than a traditional exchange, so it doesn’t offer maker/taker fee tiers by volume or discounts for using a native token—it simply charges a built-in processing fee for every transaction.

Futures/Derivatives

Luno currently does not support futures or derivatives trading, so there are no maker/taker or funding fees to consider.

Switchere does not support derivatives or futures trading, so there are no maker/taker fees or funding rates to consider.

Average Spreads on Liquid Pairs

Luno maintains competitive, tight spreads on major crypto-fiat pairs thanks to strong liquidity, but exact spread values vary and are shown in real time during your transaction.

There’s no transparent order book or spread data since you purchase directly via a widget; the cost is embedded in the exchange rate presented at time of purchase.

Fiat Deposits & Withdrawals

You can deposit or withdraw fiat through local bank transfers, cards, and other methods specific to your jurisdiction; most deposits are free, withdrawals involve your bank’s processing time and possible nominal charges, and timing depends on your region.

You can pay using credit/debit cards, Apple Pay, Google Pay, SEPA/instant bank transfers—fees and processing speeds vary by method, and cashouts are not handled since crypto goes straight to your wallet.

On-chain Withdrawals

Withdrawals in crypto (e.g. BTC, ETH, TRX) use dynamic fees based on current blockchain congestion plus minimal operational cost—there’s no flat fee.

Switchere doesn’t charge separate withdrawal fees

Hidden Costs

Luno is clear about fees, but you may face currency conversion costs if depositing or withdrawing in a diff

The platform clearly displays all fees before confirmation; there are no extra charges for inactivity, fast-track KYC, or currency conversions—you just pay the visible processing plus the network fee.

Real-World Cost Example: “€500 BTC

If you plan to buy €500 worth of BTC, the total cost would include a small taker fee (unless using a maker order), a modest spread embedded in the quoted price, and a dynamic blockchain fee when withdrawing—all of which are clearly shown before you confirm the transaction.

You’d see a single total cost that includes the platform’s processing fee and the blockchain cost—everything is bundled into the final euro-to-BTC rate shown at checkout.

Crypto Offering & Trading Features

Number of Coins & Pairs

Luno currently offers around 18 cryptocurrencies, with roughly 114 trading pairs available; the top 20 by volume typically include major ones like BTC, ETH, XRP, SOL, ADA, USDT, USDC, LTC, DOT, AVAX, and LINK.

Switchere supports over 180 cryptocurrencies, covering a wide variety of tokens from major coins to DeFi, GameFi, and utility assets; the most traded usually include Bitcoin, Ethereum, Tether, Solana, and Cardano.

Product Range

Only spot trading is available—there’s no margin, futures/perpetuals, options, crypto ETFs, copy trading, or grid bots; Luno does offer straightforward staking and has a recurring buy (DCA) feature, but lending or advanced products aren’t supported.

The platform focuses exclusively on spot purchases—there’s no margin, derivatives, options, ETFs, staking/earn programs, loans, copy trading, grid bots, or automated DCA services available.

Liquidity

While exact numbers aren’t public, Luno maintains solid liquidity on top pairs, contributing to tight spreads; 24-hour trading volumes usually fall in the tens of millions USD range, indicating healthy order book depth for basics like BTC and ETH.

As a fiat-to-crypto gateway rather than an order-book exchange, Switchere does not provide public 24-hour volume or order book depth metrics for BTC or ETH pairs.

Tools

Luno supports standard spot order types like limit and stop-limit, enables price alerts, includes basic charting (with TradingView embedded), and offers API and WebSocket access for automated or programmatic trading.

There are no advanced order types like limit, stop, or OCO; nor are there alerts, in-platform charting tools, API/WS access, or native TradingView integration.

Geographic Restrictions by Product

Derivatives and advanced trading tools are not offered anywhere, as Luno is strictly spot-only; availability of certain trading pairs and features also depends on the user’s country or regulatory region.

While Switchere is broadly available across many regions, advanced trading tools simply don’t exist anywhere, so there are no geographic restrictions in that sense—everyone has the same (limited) functionality.

Innovation

Luno includes simple staking for a select set of assets like SOL, ADA, and ETH, with flexible unstaking and weekly payouts; they don’t offer complex launchpad programs or a variety of flexible-vs-locked “earn” products.

The platform currently does not offer launchpads, launchpools, flexible vs locked earn programs, or similar innovation-driven products—it remains strongly rooted in streamlined fiat-to-crypto simplicity.

Security, Regulation & Custody

Operating Entity & Jurisdiction

Luno is operated by Luno Group Holdings Limited, founded in 2013, with its main legal headquarters in London, UK, and maintains regional corporate entities across jurisdictions like Malaysia, South Africa, Nigeria, Australia, Indonesia, Uganda, and the UK.

Switchere is operated by SH EUROPE UAB (and services are provided by PayBis Poland Sp. z o.o.), with its legal foundation in Lithuania (HQ in Vilnius) and operations regulated under Estonian jurisdiction—creating a dual-layer structure that combines Lithuanian incorporation with Estonian oversight.

Licenses/Registration

The platform holds official registrations with local regulators—such as the Securities Commission of Malaysia, AUSTRAC in Australia, BAPPEBTI in Indonesia, Nigeria’s Financial Intelligence Unit, South Africa’s FIC, and the UK’s Financial Intelligence Unit—demonstrating robust compliance across its operating markets.

The platform holds virtual currency service licenses from Estonia’s Financial Intelligence Unit, affirming legal compliance under EU standards for handling cryptocurrency exchanges and wallet operations.

Custody

Luno uses a hybrid custody model involving both in-house controlled addresses and third-party custodial partners. It publishes independently audited proof-of-reserves using a Merkle tree methodology, showing assets fully covering all customer liabilities, often above 100% coverage.

Switchere operates as a non-custodial gateway—crypto assets are sent directly to your personal wallet rather than held under its control, with no public proof-of-reserves or cold storage disclosures, as it does not hold funds itself.

Insurance & Protection Funds

While Luno does not publicly list an insurance policy for user funds, its operational model focuses on strong custody practices and regulatory oversight rather than explicit insurance coverage.

There are no publicized funds or insurance schemes to cover user balances, as the model avoids custodial risks by transferring all assets directly to users’ personal wallets.

Incident History

Luno has maintained a clean safety record, with no major hacks or regulatory penalties reported. Its platform continuity has been uninterrupted, and user wallet freezing or account issues are not prevalent.

To date, there are no widely reported hacks, suspension events, or major regulatory penalties associated with Switchere; it maintains a comparatively incident-free record.

Risk Controls

Luno enforces industry-standard security measures including two-factor authentication (2FA), address whitelisting, anti-phishing code support, and granular API permissions; it also integrates advanced geolocation risk detection to prevent spoofing and unauthorized access.

The platform employs industry-standard security measures—including SSL/TLS encryption, 3D Secure for card payments, and mandatory identity verification via AML/KYC—however, features like 2FA, whitelists, or granular API permissions are not prominently offered.

Transparency

The platform emphasizes transparency through its regular proof-of-reserves audits, maintains risk and compliance reporting internally, yet does not publish public monthly wallet activity reports or formal SLAs—its transparency centers on audit-backed proof and internal governance.

Switchere provides clear upfront cost disclosures and limit tiers, but lacks public monthly transparency reports, publicly viewable wallet addresses, or guaranteed service-level agreements (SLA) for operations.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

You can deposit fiat via bank transfers (including instant methods like PayID or FPX, where available), debit or credit cards in select regions, and even vouchers in some countries; minimums and maximums depend on your verification level, and funding can be instant or take up to a few business days depending on your bank and country.

You can fund purchases using debit or credit cards (Visa, Mastercard, Maestro), SEPA transfers, and even e-wallets like Neteller or M-Pesa, with typical deposit times ranging from 5 to 30 minutes depending on the method, and flexible per-transaction limits based on your verification level.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

Account verification progresses through three levels—Level 1 (basic details), Level 2 (ID and selfie), and Level 3 (proof of residence and source of funds)—with each unlock offering higher deposit, trading, and withdrawal limits, often culminating in virtually unlimited access once fully verified.

There are tiered verification levels—basic (no documentation required) lets you transact up to around €700 monthly, ID/address verification raises limits to around €15,000, and adding proof of income unlocks effectively unlimited purchasing power.

Withdrawals

Fiat withdrawals must go to a bank account in your name, are subject to minimums and maximums per region tied to your KYC tier, and typically clear within standard banking times; crypto withdrawals are conducted over relevant networks (e.g., ERC20, TRC20) and use dynamic blockchain-based fees.

Since Switchere operates as a non-custodial fiat-to-crypto service, there’s no direct “withdrawal” feature—instead, purchased crypto is instantly sent to your own wallet on relevant networks (e.g., ERC-20), subject only to the built-in blockchain fee.

Customer Support

Luno offers 24/7 assistance via an in-app digital assistant (Toshi) or email, supplemented by a thorough FAQ and Help Centre; response times vary, but many users resolve routine queries quickly through the knowledge base before reaching out directly.

Support is available around the clock via live chat and email, typically responding quickly, and is supplemented by an in-app FAQ/knowledge base to guide you through common questions and transaction flows.

Languages & Localization

The platform supports native English (and other regional languages) and displays fees and balances in your local fiat (EUR, USD, ZAR, etc.), ensuring clarity and compliance with local regulatory frameworks in supported jurisdictions.

The platform supports multiple languages (including English, Spanish, French), displays prices in your local fiat (EUR or USD), and adjusts payment options based on your region to maintain regulatory compliance.

App Quality & Stability

Luno’s mobile and web apps are known for stability and frequent updates. While specific crash-rate statistics are not disclosed, the apps maintain a smooth user experience with regular enhancements and minimal downtime reported.

Switchere offers a mobile app for both Android and iOS, noted for its simple, smooth interface; while user reviews suggest occasional crashes, it is regularly updated, providing a dependable experience for on-the-go users.

Experience, Performance & Ecosystem

UX/UI

Luno offers a clean, intuitive interface ideal for beginners, alongside a slightly more detailed layout—not an explicit “Lite/Pro” toggle, but it achieves a simple-to-advanced feel within a single platform.

The interface is clean and ultra-simple, with no “Lite/Pro” toggles—making it beginner-friendly, but potentially too basic for advanced users craving flexibility or customization.

Performance

Execution is generally swift with minimal latency under normal conditions; while occasional slowdowns may occur during sharp market spikes or KYC surges in bull runs, Luno’s infrastructure handles typical volume reliably.

Transactions are generally smooth and fast, though during major market surges verification queues and payment processing can slow things down slightly for new users.

Education

Luno provides a robust Help Centre and educational articles for crypto basics, but it lacks a demo or simulator; Spanish-language support may be limited depending on your region, with most guidance in English.

There’s no formal academy, demo environment, or Spanish-language tutorials—Switchere keeps things minimal, relying on straightforward interface cues instead of built-in educational content.

Community

The platform supports a referral program that rewards both parties in Bitcoin, and runs an ambassador program for content creators—though it doesn’t maintain dedicated forums or public Telegram/Discord communities.

While there’s no dedicated forum or Discord channel, a basic referral program encourages word-of-mouth growth; otherwise, community interaction happens through external platforms.

Integrations

While Luno embeds TradingView for charting, it doesn’t support external bots; however, it integrates smoothly with top crypto tax tools like Koinly, Recap, CoinLedger, and other accounting platforms.

The platform stands alone—there are no built-in integrations with TradingView, external bots, tax reporting tools, or accounting suites, keeping it simple but limited for advanced workflows.

Who Each One Is Best For

Luno is best suited for casual or beginner crypto users who prioritize simplicity, regulatory clarity, and basic staking—not ideal for traders seeking advanced automation, simulators, or robust community interaction.

Switchere is best suited for newcomers or occasional buyers looking for a fast and hassle-free fiat-to-crypto purchase experience—professionals who want powerful tools or automation might find it too bare-bones.