14th September 2022 - 2 min read
Luno has announced that it will be adding two more cryptocurrency tokens to its platform, this time popular tokens Cardano (ADA) and Solana (SOL).
According to Luno’s announcement on Facebook, both the tokens will be made available on different dates. Users can trade ADA on Luno starting from 21 September 2022 (next Wednesday), while SOL will be added on 6 October.
With this latest update, Luno will have nine tradeable tokens altogether, including the existing seven: Bitcoin (BTC), Ether (ETH), Bitcoin Cash (BCH), Ripple (XRP), Litecoin (LTC), Chainlink (LINK), and Uniswap (UNI). Of this lot, LINK and UNI too were recently added to the Luno platform, just back in June 2022.
Briefly, Cardano is often described as a “next-gen evolution” of Ethereum, and it owes some of its popularity to its goal to be an environmentally sustainable blockchain platform. This lies in its use of the proof-of-stake (PoS) mechanism, which saves on energy costs and enables faster transaction processing, as opposed to an energy-intensive proof-of-work (PoW) system – used by tokens such as Bitcoin and Bitcoin Cash.
Meanwhile, Solana is a blockchain platform designed to host decentralised applications, also with the ability to process transactions at a faster rate with significantly lower fees as compared to other blockchains, such as Ethereum. Like Cardano, it also uses the proof-of-stake mechanism, along with an even newer technology called proof-of-history – which gives it a reputation as the fastest and most energy-efficient blockchain.
In conjunction with the launch of these new coins, Luno is offering a rebate of 50% on Instant Buy and Sell, in addition to reduced Luno Exchange fees for both coins. For Cardano, this offer will apply between 21 September to 20 October 2022, while those purchasing Solana can tap into it between 6 October to 7 November 2022.
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