Comparison of Probit vs Luno [ 2024 ]

The crypto exchanges compared by their commissions, cryptos, security and much more. Here is the Probit vs Luno comparison!

Your expert: Alejandro Borja

probit

Probit

Your expert: Xavier Tarrasó

luno

Luno

Main points

Fees

0,20%

Earns

No

Customer service

3/5
≤0,10%

Fees

No

Earns

4/5

Customer service


Recommended for

Beginners

Yes

Trading

Yes

Passive income

No

Buy and hold

Yes
Yes

Beginners

No

Trading

No

Passive income

Yes

Buy and hold


Comparison of fees

Rating

4.0 – Competitive fees with additional benefits for token holders.
3.8 – Reasonable fees with strong local support in emerging markets.

Level

0,20%
≤0,10%

Brief explanation

ProBit Global’s fee structure is designed to be competitive and accessible for traders of all levels. The platform employs a flat trading fee model of 0.20%, which is slightly lower than the global industry average. This uniform fee applies to both makers and takers, simplifying the trading process and making it transparent for users. Additionally, significant discounts are available for those who choose to pay their trading fees with the PROB token, ProBit Global’s native cryptocurrency. This feature not only encourages the use of PROB within the platform but also offers an economical advantage to frequent traders, enhancing their overall trading experience.
Luno operates with a transparent and competitive commission structure that varies based on the type of transaction and the user’s activity level. For trading, Luno typically charges a tiered fee, which decreases as the user’s monthly trading volume increases, incentivizing high-frequency traders with lower rates. The fees for buying and selling cryptocurrencies are calculated either as a percentage of the transaction amount or as a flat rate, depending on the currency and payment method used. Deposit fees vary by payment method, with options like bank transfers often being free, while credit or debit card transactions may incur higher fees. Withdrawal fees also vary, generally depending on the network fees of the cryptocurrency being withdrawn and the urgency of the transaction. This fee structure is designed to be straightforward, allowing users to easily understand the costs associated with their trading and financial movements on the platform.

Probit

Luno

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Product selection

Native token

No
No

Earns

No
No

NFT marketplace

No
No

Cripto/debit card

No
No

Company information

Full name

ProBit Global Services Limited
Luno Pte Ltd.

Regulation

Not regulated
Regulated in Singapur y Sudáfrica

Year founded

2018
2013

Founder

Hyunsu Do
Marcus Swanepoel

Payment methods

Transfers

No
Yes

Mastercard

Yes
Yes

Wire transfer

No
No

Card

Yes
Yes

Comparative table

Probit FEATURES Luno
ProBit supports low minimum trade amounts, making it accessible for beginners to start trading without requiring significant initial investments.
Minimum Trade
Luno allows small minimum trades, making it accessible for beginners to start with lower amounts.
ProBit Global offers competitive trading fees that are below the industry average, enhanced by discounts for using the PROB token.
Trading and Transaction Fees
Luno’s fees are competitive but can vary by region and payment method, which may impact cost efficiency for some users.
With over 500 cryptocurrencies available, ProBit Global provides one of the most extensive selections, catering to traders looking for variety and niche coins.
Number of Cryptocurrencies
Luno offers a selection of the most popular cryptocurrencies but has a more limited range compared to larger exchanges.
The platform supports over 300 trading pairs, offering significant flexibility for trading strategies across a broad range of cryptocurrencies.
Crypto-to-Crypto Trading Pairs
Luno provides a few crypto-to-crypto trading pairs, focusing more on fiat to crypto transactions which limits trading strategies.
ProBit is generally transparent about its fees and operations, though some users may seek more detailed information on certain operational aspects.
Website Transparency
The Luno website provides clear information on fees, policies, and company details, although some users may seek more depth in certain areas.
ProBit does not offer an exchange card for in-store purchases.
Credit/Debit Card
The Luno card effectively integrates with their service offering, providing convenience and accessibility for in-store purchases while also facilitating easy conversion from crypto to fiat. This feature enhances user experience by expanding the usability of cryptocurrencies in everyday life. However, availability may vary by region, which is why it doesn’t achieve a perfect score.
ProBit provides secure storage options, including cold storage, although it doesn’t offer as diverse an array of wallet services as some larger platforms.
Storage Offering
Luno excels in secure cryptocurrency storage solutions, offering integrated wallets with advanced security measures.
The platform offers staking options and various rewards through the use of its PROB token, giving users additional ways to earn from their holdings.
Staking and Rewards
Currently, Luno has limited options for staking and rewards, which could be an area for future development to enhance user returns.
ProBit offers a functional mobile app and a user-friendly desktop platform, though some users might find the features somewhat basic compared to more advanced trading platforms.
Mobile App and Desktop
Luno’s mobile app and desktop platform are highly user-friendly, offering intuitive navigation and robust functionality for all user levels.
Customer service is available and generally responsive, but feedback indicates that there is room for improvement in terms of speed and the breadth of support options.
Customer Service
Luno provides competent customer service with multiple channels for support, though response times can occasionally extend during high demand periods.
Deposits and withdrawals are supported efficiently on ProBit, but the options for fiat transactions are limited, and the structure for withdrawal fees can be complex.
Deposit and Withdraw
Deposits and withdrawals are generally smooth with Luno, supporting various methods, though some users might face delays depending on their region.

Key features

Analysis tools

Basic charting tools
Basic charting tools

Mobile APP

No
No

Security

High 4,9/5
High 4,5/5

Additional features

Margin trading, staking, Probit Earn, Probit token (PROB) rewards
Savings wallets, fiat on/off ramps, staking, educational resources

Anonymity

Yes
No

Key points

Available cryptocurrencies

500+
10+

User-friendliness

Probit features an intuitive and user-friendly interface that is easy to navigate, making it suitable for beginners. The platform focuses on providing a seamless trading experience.
Luno offers a user-friendly platform that is easy to navigate, making it suitable for beginners. The interface is designed to facilitate a smooth trading experience with all necessary features easily accessible.

Value for money

Delivers reasonable value for money with competitive fees and a user-friendly interface, though it may lack some advanced features.
Provides decent value for money with competitive fees and a user-friendly platform, making it a good choice for beginners and emerging market users.

Countries of operation

South Korea, United States, Canada, United Kingdom, Australia
South Africa, Nigeria, Indonesia, Malaysia, Europe

Best for

Best for traders seeking a user-friendly platform with competitive fees and a wide range of supported cryptocurrencies.
Ideal for beginners and emerging market users looking for a user-friendly platform with competitive fees.

Base currencies available

KRW, USD, BTC
ZAR, NGN, MYR, IDR, EUR, BTC

Account

Trading

ProBit offers a wide range of cryptocurrencies and competitive fees. It provides advanced trading tools but has lower liquidity compared to larger exchanges.
Luno is a user-friendly exchange popular in emerging markets, offering easy fiat integration and a decent range of cryptocurrencies. It has competitive fees but lacks advanced trading tools.

Deposit and withdrawal

ProBit offers multiple deposit and withdrawal methods, including bank transfers and cryptocurrencies. Withdrawals are processed quickly, with competitive fees.
Luno is user-friendly, offering easy fiat and cryptocurrency deposit methods. Withdrawals are processed efficiently, with competitive fees.

Account opening process

ProBit provides an easy and fast account opening process. Users need to provide personal details and verify their identity. The process is fully digital and usually completed within a day.
Luno offers an easy and quick account registration process. Users need to provide personal information and verify their identity. The process is fully digital and typically takes less than a day to complete.

KYC required?

Yes
Yes

Customer Service

ProBit provides support through email and live chat. The support team is responsive and available 24/7, making it convenient for users needing immediate help.
Luno offers support through email and live chat. The response time is quick, and the support team is available 24/7, making it reliable for users needing immediate help.

Security

ProBit offers comprehensive security measures, including 2FA and cold storage. However, it lacks regulation from major financial authorities, which might be a concern for some investors.
Luno ensures security through 2FA, encryption, and cold storage. It is regulated by multiple financial authorities, providing a secure environment for investors.

Which of these exchanges is for you?

As one of the experts here at our website, I highly recommend ProBit Global for its impressive array of over 500 cryptocurrencies and more than 300 trading pairs. This diversity makes it an excellent platform for both new and seasoned traders looking to explore various investment opportunities. Moreover, its competitive trading fees, especially when using the PROB token, make it an economically smart choice. Whether you’re beginning your crypto journey or seeking new trading strategies, ProBit Global’s user-friendly and efficient platform stands out as a strong candidate in the crowded field of crypto exchanges.
As an expert on our website, I recommend Luno for newcomers venturing into the world of cryptocurrencies. Its user-friendly interface and robust educational resources make it an excellent starting point. However, more experienced traders might find the platform’s limited advanced trading features and crypto-to-crypto pairs a bit restrictive. If you’re just getting started or prefer a straightforward, secure trading environment, Luno is a solid choice to consider.

How do we review crypto exchanges?

At Threenvest, we conduct a thorough review process to evaluate and rank the world’s leading crypto exchanges. Our goal is to offer an unbiased assessment, providing you with the information you need to make informed decisions on which ones best suit your needs. We strictly adhere to the guidelines of our editorial policy.

 

We collect data directly from exchanges through detailed questionnaires and conduct first-hand testing and observations during crypto exchange demonstrations. Questionnaire responses, combined with demonstrations and hands-on research from our experts, feed into our proprietary evaluation process that scores each provider’s performance on more than 15 factors. The end result produces star ratings ranging from poor (one star) to excellent (five stars).


For more details on the categories considered when rating brokers and our process, read our full methodology.

Risk Disclaimer

Investing in cryptocurrencies is very risky, you should only invest the money you are willing to lose. Also you should not expect to be protected if something goes wrong.

Neither Threenvest, nor the author, are recommending you to invest with this article.

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