On Luno, buying from the Portfolio screen and trading on the Exchange use different fee structures. For a South African account, compare the exact pair and the final crypto received. A BTC/ZAR rate cannot stand in for USDT/ZAR, and an instant deposit is a funding method rather than an instant purchase.
This is a spot-purchase comparison for accounts verified in South Africa. Sources checked on 20 September 2026. All purchase examples below are hypothetical; CU did not execute these trades or capture an account quote.
Three actions people confuse
Deposit rands: move money into your rand balance. A paid instant funding method can add cost before you buy anything.
Buy from Portfolio: accept the purchase quote presented in that interface.
Trade on Exchange: choose a market and order, then check whether and how it executes.
The South African fee schedule listed a 2% Portfolio buying charge at the check date. Tier-one Exchange taker rates were 0.60% for BTC/ZAR and 0.20% for USDT/ZAR; maker rates were 0.40% and −0.01% respectively. Check your account's applicable tier and current confirmation screen.
The same page marked direct instant card buying unavailable. A published fee beside that feature does not establish that you can currently use it. Do not build a purchase plan around an unavailable payment method.
Compare one amount fairly
Use a funded ZAR balance and the same asset. Record both quotes close together, with their times. If you switch from Bitcoin to USDT, you are comparing different purchases, not finding a cheaper way to buy Bitcoin.
The table below applies published percentages to a hypothetical R1,000 gross trade value. It isolates the trading charge and excludes funding, withdrawal, price differences and tax. A negative value represents a maker rebate under the specified assumptions, not an investment return.
| Method and pair | Fee assumption | Rand-equivalent charge |
|---|---|---|
| Portfolio BTC purchase | 2% | R20.00 |
| Exchange BTC/ZAR taker | 0.60% | R6.00 |
| Exchange BTC/ZAR maker | 0.40% | R4.00 |
| Exchange USDT/ZAR taker | 0.20% | R2.00 |
| Exchange USDT/ZAR maker | −0.01% | −R0.10 |
Each row uses R1,000 × percentage ÷ 100. On a R10,000 gross trade, multiply the resulting charge by ten. The BTC taker comparison then becomes R200 versus R60, a R140 isolated fee difference before execution prices are considered.
These calculations do not promise an available order or a completed fill. A maker rebate is tiny relative to possible price movements and does not justify an unnecessary trade.
Compare quantities, not just percentages
Imagine two BTC purchase previews, each requiring a total R1,000 debit. Preview A offers 0.000980 BTC after charges; Preview B offers 0.000992 BTC after charges. Neither number is a current Luno quote.
- A's effective price:
R1,000 ÷ 0.000980 = R1,020,408.16 per BTC. - B's effective price:
R1,000 ÷ 0.000992 = R1,008,064.52 per BTC. - Quantity difference:
0.000992 − 0.000980 = 0.000012 BTC.
For that particular snapshot, B delivers more BTC. It says nothing about the next snapshot. If the preview already includes the purchase charge, do not subtract the percentage from the quantity again.
You can make a second comparison for an external wallet, but then subtract the actual send charge once and use the expected received amount as the denominator. Do not insert a guessed blockchain fee.
A limit order is a price instruction
Luno's maker and taker explanation distinguishes orders resting on the book from orders that execute against existing liquidity. Your rolling trading activity determines the account fee bracket.
Before relying on an example in a general help article, compare it with the country schedule and your account. Support examples can lag fee-tier changes. This guide uses the South African table for the numeric inputs above.
If you want to buy only below a specified price, a limit order can express that condition. It does not force another trader to sell to you. You may see an open order after a market move, or a partial fill with some rands still reserved. Check order status before concluding that your money has disappeared.
For a market order, inspect the available book and expected result. A displayed last-traded price is not a promise that your entire order will fill at that price.
Before confirming
- Confirm the account's verification country and the asset pair.
- Check the current tier in the authenticated Exchange account.
- Choose whether your comparison ends at the exchange balance or an external wallet.
- Record the total rand debit, net crypto amount, fee currency, quote time and expiry.
- Check the current minimum order size. Do not assume the Portfolio minimum also applies to the Exchange.
- Read the final preview again after any price refresh.
- After execution, save the fill record and reconcile the actual balance movement.
For a complete first purchase, see buying Bitcoin with rands. For stablecoins, use the USDT buying guide. Compare other providers through the exchange hub.
When convenience may be worth the cost
A person making a small, occasional purchase may prefer a simple quote. Someone comfortable checking pairs, fills and open orders may prefer the Exchange. The decision should follow the amount received and the work you are prepared to do, not the idea that a more complicated interface is automatically better.
Neither interface removes custody risk while the assets remain on the platform. Moving to a wallet introduces its own backup and transfer responsibilities; read the wallet comparison first.
Are instant deposits and instant buying the same charge?
No. Funding and purchasing are separate steps. Your chosen route may include one or both. Check each confirmation and count each actual charge once.
Can I use the USDT/ZAR rate for Bitcoin?
No. Use the rate for the pair you will trade. Acquiring USDT before buying BTC adds another transaction and can change the total cost.
Does the lowest maker rate guarantee the lowest purchase cost?
No. The order must execute, and the execution price matters. Compare the actual final quantity for the total rands spent.