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LUNO Wallet - Is Luno trustworthy

Luno Wallet

Crypto currency wallet Free Advertising Groups and Blogs
💚It’s never too late to get started
💚Buy, store and learn about Bitcoin and Ethereum now
💚There are several ways you can get Bitcoin



Is Luno trustworthy - Luno Wallet simple introduction




Many people believe Bitcoin to be very complicated, when in fact it’s a lot more simple and intuitive than what most people think. This series aims to help everyone grasp the basics, and over time also presents further learning opportunities for those who want to know more.

Bitcoin is often explained by comparing it to something specific people already know, but this is often what creates a lot of confusion. Bitcoin is a new technology that is unlike anything we have seen before, so a better way to think of it is as a combination of a few different things we are already used to.

Firstly, because it allows you to move money so easily, Bitcoin functions as a payment system, similar to bank transfers or credit cards, only a bit better.

Second, Bitcoin is in some sense similar to gold - that is why many people even refer to it as ‘digital gold’ or ‘Gold 2.0’. Think of it as using gold for money, except it is also very easy to move.

Third, Bitcoin is like the internet in that no single person or entity controls it, so anyone can pretty much use it as they like. This gives it some very unique characteristics.

These three characteristics also reinforce one another, so they are all interwoven. But more on all of this in the next few sections. For now, just imagine what would happen if you took a big pot and threw in a credit card, a piece of gold, and a hint of ‘internet’ - mix it all up - and pull out a brand new compound - Bitcoin!

New year Bitcoin logo

Crypto currency wallet phone

Easy simple and secure
There are several ways you can get Bitcoin easily and safely
Like traditional money, you can earn it by providing goods or services and asking people to pay you in Bitcoin rather than in traditional money. This is often a cheaper and easier alternative to other payment methods and one of the easiest ways to get your hands on some Bitcoin.
Another way is how most people get their Bitcoin: buy it from a credible Bitcoin broker or exchange provider, like Luno. This is similar to how you would buy foreign currency at your bank or shares online. This is often the easiest way to get Bitcoin because you are virtually guaranteed that someone will be willing to sell their Bitcoin to you on such a platform.
You can also get Bitcoin by mining for it, but this has become very difficult to do for the average person. Most mining is now done by huge companies with very expensive and highly specialized equipment, which a typical person or computer cannot compete with. So unless you have a lot of expertise and a huge amount of money to spend on this, rather just buy or earn the Bitcoin.
Find out more with our Official Blog
Happy exploring 😆