Breet and Luno are both among the top best cryptocurrency apps in Nigeria that allow users to trade and store digital assets such as Bitcoin and Ethereum. Both of these platforms provide services that are similar, but they also each have their own distinct advantages and features. I will contrast Breet with Luno in this article and evaluate whether one is best suited to your requirements.
By the end, you need to be well-versed in both Breet VS Luno and able to decide which platform is the most appropriate for your requirements.
Breet
Let’s start by looking at Breet. Breet is a relatively young competitor in the cryptocurrency industry, but thanks to its user-friendly layout, fast transaction time, and simple features, it has already become well-known in Nigeria and Ghana. Breet’s support for a variety of cryptocurrencies makes it a perfect platform for people looking to sell crypto in Nigeria & Ghana. In order to safeguard users’ assets and private information, Breet additionally provides a strong security system.
Luno
On the other hand, Luno is one of the most well-known cryptocurrency platforms on the market and has been operational for a longer amount of time. Luno has a track record of offering its people dependable and safe services. Users may easily buy, sell, and store digital assets because of its user-friendly design. Additionally, although Luno only accepts a small selection of cryptocurrencies, it offers high liquidity, which makes it simpler for customers to purchase and sell their digital assets.
Breet VS Luno: Key Differences
1. User Experience
Breet is designed to be user-friendly and simple to use, especially for individuals who are brand-new to trading cryptocurrencies. Although Breet may be a better option if you’re searching for a platform that’s expressly made to be user-friendly, Luno also provides a user-friendly experience.
2. Cryptocurrencies Supported
Bitcoin and Ethereum are supported by both Breet and Luno, while Breet additionally supports Litecoin, USDT, Dogecoin, and Bitcoin Cash. If you want to trade more cryptocurrencies in addition to those supported by Breet, Luno might be a better option.
3. Charges
Luno has fees associated with buying and selling cryptocurrencies, but these fees can differ. If you want to keep the cost of your cryptocurrency trading as low as possible, Breet might be a better option because Breet is completely free, there are no charges for trading cryptocurrencies on the Breet App.
4. Limit
There are no deposit limits for Breet users, but there are withdrawal restrictions. Your withdrawal cap is based on your Breet account’s degree of verification. Without KYC, your daily withdrawal cap is 30,000 Cedis or two million Naira.
Your withdrawal limit will rise to five million Naira, or 65,000 Cedis, with the Basic level KYC. However, you won’t have any withdrawal restrictions if you use an advanced KYC. Advanced KYC cannot be finished without the basic KYC being finished first.
Your limits on Luno are also based on the degree of account verification. As soon as you register, you can deposit; however, withdrawals are only possible after account verification.
5. Payment Methods
Both Luno and Breet provide a variety of payment options, such as bank transfers and credit/debit card purchases. Mobile money is also accepted by Luno. Breet is more constrained than Luno in that it only supports Naira bank transfers for Nigeria and mobile money payments for Ghana. Before you sign up, it’s crucial to confirm which payment options are supported by the platform to make sure you can make deposits and withdrawals without difficulty.
6. Transaction Speed
How quickly do Breet and Luno’s cryptocurrency exchanges operate? On Luno, transactions might take up to 10 minutes, but on Breet, exchanging Bitcoins only takes a few seconds. The fact that a P2P trading system-based crypto trade takes time is a more practical reality. Under P2P, a transaction can usually be completed in five minutes or less. Normally, hours are required. This is due to the fact that both parties must accept the plan and confirm the payments before the money can be disbursed. This procedure could go on for several hours. Breet is normally more expedient because there is no waiting involved, and your money is sent directly to your bank account.
Breet VS Luno: Similarities
1. Security
Breet and Luno both take security very seriously and utilise cutting-edge security techniques to safeguard your money and personal data.
2. Customer Support:
Both Breet and Luno provide great customer care, so you can be confident that you will get the assistance you require if you have any queries or problems.
Breet’s customer support is available 24/7 and is based on reviews and testimonies from users. Day or night, they are always accessible. Additionally, Breet offers a number of ways to get in touch, including a phone number, email address, Live chat, WhatsApp, Twitter, Facebook, and Instagram. This suggests legitimacy and trustworthiness.
3. Ease of Use
Breet and Luno both have a variety of tools and services to assist you in beginning your Bitcoin trading career. They are both made to be simple to use.
Final Thought: Breet VS Luno
Breet and Luno are both excellent platforms for purchasing, selling, and trading cryptocurrencies, to sum up. Breet is a user-friendly platform that supports a broader variety of cryptocurrencies and is made to be simple to use. For people who are old to trading cryptocurrencies, Luno is a reputable platform that provides a more expert interface.
The perfect platform for you will ultimately rely on your particular requirements and tastes. Breet can be your best option if you’re seeking a platform that is specially made to be user-friendly, with top-notch customer service, and fast transaction time.
