Luno and the non-profit food distribution company FoodForward SA made a decision to join forces to make it possible for South Africans to donate to charitable causes using Bitcoin.. It is a progressive development for the use of cryptocurrency in the country.
Andy Du Plessis, managing director at FoodForward SA, claims that adopting cryptocurrency for donations promotes openness and guarantees that every payment is fully auditable.
“Transparency and innovation are central to the way we operate at FoodForward SA. Thanks to our partnership with Luno, SA’s largest crypto platform, donors can contribute Bitcoin to support our food security efforts. The underlying technology prevents corruption and reduces fees, which is vital for any non-profit organisation,” Du Plessis included.
In order to re-distribute food to roughly 2,750 approved organisations that daily serve nearly 950,000 disadvantaged people, FoodForward SA works by obtaining good quality, edible surplus food from manufacturers, retailers, and farmers. According to the charity, 48 million meals were distributed to disadvantaged persons in South Africa during the previous fiscal year.
Another advantage for Luno, according to SA country manager Christo de Wit, is the ability to accept Bitcoin donations almost instantaneously from anywhere in the world.
de Wit said, “Bitcoin transactions are transparent, so you know that your full donation is going directly to the cause. And there are no charges to the organisation other than the standard fee charged by the Bitcoin network. 100% of the amount donated goes directly to FoodForward SA. This way, FoodForward SA can reach even more vulnerable South Africans.”
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Few Reasons to Trust Luno
Because of its user-friendly design, Luno lives up to its promise, “Cryptocurrency is for everyone.” Also, it is quite secure. Nevertheless, this is one of the more basic cryptocurrency exchanges with a limited selection and few features. If you want to know if Luno is the right exchange for you, read our complete evaluation.
Investing in cryptocurrencies is made as simple as possible via Luno. If you’re new to crypto and want an exchange with a low learning curve, it’s worth checking out because it features a user-friendly web platform and mobile app. To purchase cryptocurrency, you must add your debit card, select your spending limit, and authorise the transaction.
Any crypto exchange needs to be secure, and Luno shines in this department. Most cryptocurrency is kept offline in cold storage, and the keys to this cryptocurrency are kept in safe deposit boxes. Luno significantly reduces the likelihood of someone stealing its customers’ money by storing cryptocurrencies offline and making them difficult to access.
We’ve selected some of the best instructional resources from a cryptocurrency exchange on Luno. Its learning portal offers both general articles on cryptocurrencies and in-depth analyses of several cryptocurrencies. Additionally, it has a blog with the most recent cryptocurrency news and video content.
All clients of authorised cryptocurrency exchanges must have their identities verified; some exchanges are significantly faster than others. Luno is unquestionably on the quick side. Luno normally only needs a few minutes to verify your identity after you provide the necessary details, your ID, and a selfie.
Rugby team Vodacom Bulls and cryptocurrency platform Luno sign a sponsorship agreement
The Luno cryptocurrency investing platform has signed a three-year sponsorship agreement with the Pretoria-based Vodacom Bulls rugby team. Bulls players will receive performance bonuses in cryptocurrency thanks to the agreement.
Christo de Wit, Luno’s country manager for South Africa, said, “Luno is focused on empowering people by building a new financial system which is more suited to the digital age. Like rugby, crypto can be unpredictable and volatile at times, but it is important to zoom out, stick to your game plan and think long term.”
Edgar Rathbone, CEO of Vodacom Bulls, claims that the Luno relationship supports the team’s goal of being the most technologically advanced South African rugby brand.
“Luno has an intrinsic understanding of what it means to have a competitive edge. As a trusted brand in the crypto financial industry, we are thrilled that Luno has decided to partner with the Vodacom Bulls,” Rathbone said.