Cryptocurrency News

7 Million Users Milestone Hit by Luno, Next Target is 1 Billion

According to the latest reports, Luno has reported that it has just reached the 7 million user-base. Luno is reportedly one of the most popular cryptocurrency platforms based in the United Kingdom. The firm has announced that out of the 7 million users, it has observed a million users join the platform in a matter of two months.

Similar to the rest of the cryptocurrency firms in the entire world, Luno has also reported a surge in the user base in recent months. The platform reported that due to the rise in the demand and exposure for cryptocurrencies, more people are moving to the industry.

This has resulted in the user base on the cryptocurrency platforms experiencing exponential growth. Luno is also experiencing the same and has observed its user base to grow all the way up to 7 million users in the past six months.

Luno analytics team has also shared some very interesting statistics around the adoption rate for the platform. The platform has revealed they have experienced significant growth in the application download rate since the beginning of 2021.

According to figures, the application download rate for Luno in January 2021 increased by 60% as compared to the month of December 2020. The exchange also revealed that as compared to January 2020, the growth rate was a whopping 300%.

Luno executives have stated that they are delighted to see the exponential growth that the company has been making since the start of 2021. The platform has been gaining a lot of exposure for the crypto-industry as well as increasing its user base.

The executives also predicted they are confident about the exchange gaining an even larger user base throughout the year 2021. Luno has the same expectations around the user base for the upcoming years. These years would turn out to be extremely important for Luno in order to meet its next user-base benchmark.

At the beginning of 2021, Luno had predicted that by 2030, it is aiming to hit the billion user-base milestones. The executives at Luno have stated that in the light of the recent months and the demand they have seen, they are confident of hitting the mark by 2030.

The co-founder and CEO of Luno, Marcus Swanepoel also stated the same while talking about the recent growth of the exchange during an interview with a local media source.

Although Luno is a cryptocurrency platform based in the UK, yet Digital Currency Group (DCG) owns it, which is a major cryptocurrency company in the United States.

It is worth mentioning that DCG is not the founder of Luno as it had acquired the platform back in September 2020.

Another reason why Luno has experienced a surge in the user base is the platform being acquired by DCG. Since the acquisition, the number of users on Luno has increased by 167%.

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