With crypto becoming more popular in South Africa many people are looking for the best place to buy,trade and store their digital assets.Two of the most well-known platforms are Binance and Luno.
To find out,I decided to test both platforms myself by depositing R550 into each.I looked at how easy the deposit process was how much I paid in fees what features each platform offers how many coins are available and how safe they feel to use.
I will be showing a detailed Comparison of the two platforms.This review breaks things down in a simple way to help you choose the one that fits your needs best.
Depositing ZAR Experience : Binance vs Luno
Binance
To fund my Binance with ZAR I tried to use Discovery Bank and it didn’t work during my test maybe due to network issues — I then used Nedbank.It worked perfectly with linked payments powered by Stitch that requires you to use a linked bank portal option.
Fee : linked payments at a fee of 1.4% of R550 which was (R7.70)
Banks supported by Binance via Stitch:
Tymebank
Discovery
Investec
Absa
FNB
Nedbank
Standard Bank
Luno
Luno offers two ways to deposit:
I used Tymebank linked payments at a fee of 1.25% of R550 .
Credit or Debit card payments : Instant but has a small fee.
Crypto Availability
Binance:Offers up-to 350+ cryptocurrencies,including big names and new projects.Great if you want lots of choices to explore altcoins or try DeFi tools like Launchpool and Megadrop.
Luno:This exchange offers 52 coins with 10 major ones (BTC, ETH, LTC, XRP, USDC, etc.) This is enough for beginners but it doesn’t match Binance’s huge selection.
Ease of Use and Customer Support
Binance
Gives you two options:
Lite Mode for Easy for new users.
Pro Mode provides more tools for experienced traders.
Luno
Luno features a beginner-friendly app interface designed for simplicity.It's well-suited for users who want to “buy and hold” without navigating complex tools.
Support
Binance: 24/7 live chat + detailed help articles.
Luno: Email support + help center (no live chat).
Final Verdict
Both platforms offer secure and easy-to-use access to cryptocurrency but Binance stands out with its broader asset selection, advanced trading tools and wider range of products. My in-depth comparison highlights that Binance consistently outperforms Luno in several key areas delivering more robust features, lower fees and greater flexibility for traders of all levels.
Disclaimer:
This comparison is based on personal experience and research as of June 2025. Crypto regulations, fees and features may change.Always do your own research and consider your risk tolerance before trading. Not financial advice.
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