Software Alternatives, Accelerators & Startups

Luno VS MyEtherWallet

Compare Luno VS MyEtherWallet and see what are their differences

Luno logo Luno

Money, reinvented

MyEtherWallet logo MyEtherWallet

MyEtherWallet is a free, open-source, client-side interface.
  • Luno Landing page
    Landing page //
    2023-09-13
  • MyEtherWallet Landing page
    Landing page //
    2023-04-05

Luno features and specs

  • User-Friendly Interface
    Luno's platform is known for its intuitive and easy-to-navigate interface, which makes it appealing for beginners in cryptocurrency trading.
  • Mobile App
    Luno offers a well-designed mobile app, allowing users to trade and manage their cryptocurrency portfolios anywhere.
  • Strong Security Measures
    Luno emphasizes security with features like two-factor authentication and cold storage of funds, providing a secure environment for trading.
  • Educational Resources
    Luno provides educational content to help users understand cryptocurrencies and trading, which is beneficial for new users.
  • Local Currency Support
    Luno supports several local currencies, making it easier for users in supported regions to transact in their local money.

Possible disadvantages of Luno

  • Limited Cryptocurrency Selection
    Compared to other exchanges, Luno offers a smaller selection of cryptocurrencies, which might not satisfy users looking for wider options.
  • Geographical Restrictions
    Luno's services are not available in all countries, limiting its accessibility for potential users worldwide.
  • Fees
    Luno's fees can be higher than some competitors, especially for larger trades, which might deter cost-sensitive users.
  • Customer Support
    Some users have reported slow response times from customer support, which can be frustrating for those needing immediate assistance.
  • Limited Advanced Trading Features
    Luno may lack advanced trading features and tools that more experienced traders might expect from a cryptocurrency exchange.

MyEtherWallet features and specs

  • User Control
    MyEtherWallet (MEW) is a non-custodial wallet, meaning users have full control over their private keys and funds, enhancing security and autonomy.
  • Open Source
    Being open-source software, MEW allows users and developers to review its code, enhancing transparency and security.
  • Compatibility
    MEW is compatible with various hardware wallets like Ledger and Trezor, providing additional security options for users.
  • Wide Range of Tokens
    MEW supports a wide variety of Ethereum-based tokens (ERC-20), making it versatile for different types of users and use cases.
  • Integrated with DeFi
    MEW offers integration with decentralized finance (DeFi) platforms, enabling users to easily access various DeFi services.
  • Web and Mobile Access
    MEW offers both a web interface and a mobile app, allowing users to access their wallets conveniently.

Possible disadvantages of MyEtherWallet

  • User Responsibility
    As a non-custodial wallet, users are fully responsible for managing their private keys. Losing keys means losing access to funds, and there is no way for customer service to recover them.
  • Phishing Risks
    Being a popular online wallet, MEW is often targeted by phishing attacks. Users must be cautious to ensure they are using the correct website.
  • Technical Knowledge
    MEW may require a certain level of technical knowledge to fully utilize its features, which could be a barrier for beginners.
  • Limited Support
    MEW has limited customer support compared to custodial wallets, which might be a challenge for users needing immediate assistance.
  • Security Risks
    Since MEW is primarily a web-based wallet, it can be vulnerable to online threats and hacking risks. Users need to implement strong security practices.

Analysis of MyEtherWallet

Overall verdict

  • MyEtherWallet is a good option for those looking to manage Ethereum and ERC-20 tokens. Its ease of use, security features, and flexibility make it a viable choice for both new and experienced cryptocurrency enthusiasts.

Why this product is good

  • MyEtherWallet (MEW) is popular among users for its ease of use, especially for beginners in the cryptocurrency space. It allows users to create wallets for Ethereum and ERC-20 tokens without the need for third-party software. MEW is also a non-custodial platform, meaning users have full control over their private keys and funds, enhancing security. The platform supports hardware wallet integration and provides a simple interface for managing Ethereum-based assets.

Recommended for

    MyEtherWallet is recommended for those who are comfortable managing their private keys and prefer a non-custodial solution to hold Ethereum and ERC-20 tokens. It is especially suitable for users who value integration with hardware wallets for enhanced security.

Luno videos

Review of BITX-40 SSB QRP Rig Operations: #49

More videos:

  • Review - Building the v6.1 Micro BITX from India (#251)
  • Review - BITX-40 Construction Review: KEØOG Kwickie

MyEtherWallet videos

How Create MyEtherWallet (MEW) Account | Complete Tutorial 2020

More videos:

  • Demo - How To Use MyEtherWallet: Demo & Review
  • Review - Setting Up & Using MEWconnect with MyEtherWallet

Category Popularity

0-100% (relative to Luno and MyEtherWallet)
Cryptocurrencies
21 21%
79% 79
Crypto
30 30%
70% 70
Cryptocurrency Wallets
18 18%
82% 82
Cryptocurrency Exchange
100 100%
0% 0

User comments

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Reviews

These are some of the external sources and on-site user reviews we've used to compare Luno and MyEtherWallet

Luno Reviews

  1. Kenneth Steele
    · Bitcoin Pioneer at Bitcoin Pioneers ·
    Excellent exchange

    £10 of Bitcoin free when you sign up, get verified with photo ID then enter code BPKSTEELE10 into the 'Rewards' tab. Completely free, no deposit required.

    Easy to navigate app, very low fees, superb support team. Free GBP deposits and withdrawals.

    🏁 Competitors: Gemini by Countersoft

BEST 25 Coinbase Alternatives (2021 Update)
Luno is a cryptocurrency exchange platform that offers numerous APIs for trading automation. This application is secure and easy to buy and store cryptocurrencies.
Source: www.guru99.com

MyEtherWallet Reviews

Top DeFi Wallets
In the earlier days, wallets such as MyEtherWallet dominated the market while providing clunky UI/UX. Fortunately, within the past year, many wallets have upped their game and are creating better interfaces with significantly better user experience.
Source: defirate.com

Social recommendations and mentions

Based on our record, MyEtherWallet should be more popular than Luno. It has been mentiond 55 times since March 2021. We are tracking product recommendations and mentions on various public social media platforms and blogs. They can help you identify which product is more popular and what people think of it.

Luno mentions (15)

  • Two offers - Luno - Free £40 of Bitcoin when you buy £100 of crypto - or - Free £10 of Bitcoin (No Deposit or Purchase Necessary)
    Luno currently has two offers available for new customers. These offers are very quick and easy to complete and are available to everyone aged 18 or over who lives in the UK. It's important to note that you can only choose **one** of the two promotions. The two offers are as follows: ​ **Promotion 1: Free £40 Bitcoin** If you are interested in getting £40 in Bitcoin for Free, Here are the steps: **(1)** Sign... Source: over 2 years ago
  • LUNO app - No.1 offer: Free £40 Bitcoin (with £100 crypto purchase). No.2 offer: Free £10 Bitcoin (no deposit or purchase needed). [Two Easy, Quick & Free Offers]
    Luno currently has two promotions available for new customers. These promotions are available to everyone aged 18 or over who lives in the UK. You can only choose one of the two promotions. The two offers are as follows: Promotion 1: Free £40 Bitcoin If you are interested in getting £40 in Bitcoin for Free, Here are the steps: (1) Sign up toLuno & Verify your ID (5 minutes) (2) Once signed up, Go to the... Source: over 2 years ago
  • Luno - Free £10 Bitcoin on sign up (no deposit or spend needed)
    1) Register on the Luno website or through the Luno app (https://luno.com) - You'll need to verify your account with photo ID (choose 'Profile, Settings, Verification' from the menu bar). Source: over 2 years ago
  • Free £10 of Bitcoin from Luno - No deposit or purchase necessary
    For a Free £10 from Luno: Just sign up and enter the code BPCOSHEA into the 'rewards' section of the app. You will instantly be credited with £10 Bitcoin. Source: over 2 years ago
  • Bobbob - High interest and investment app - Feedback please 😊
    Immediately get USDC and have it earning yield with Luno (a DCG subsidiary). Source: over 2 years ago
View more

MyEtherWallet mentions (55)

  • WELCOME NEWCOMERS!!🎉🎉
    Never share your private key/recovery phrase (same thing in different form). I made one exception to this, which was to use myetherwallet.com to generate my private key from the reovery phrase, then use my private key to import my account into metamask. Source: over 2 years ago
  • MEW v5 sunsetting on October, 4th 2022!
    In order to prevent any issues with wallet access after the sunsetting of MEW v5, try out our current version of MEW at https://myetherwallet.com. Source: over 2 years ago
  • How to find and unstake HEX without Metamask access - is it possible?
    If you have the mnemonic seed phrase, you can find out what the corresponding Private Key/Ethereum address is, for example, with myetherwallet.com. However, any Ethereum wallet works for this, Electrum or Exodus are also legit choices and always safer choices than an online wallet provider. Source: almost 3 years ago
  • What is the absolute most secure way to create an Ethereum wallet?
    Visit website to create public and private key (like myetherwallet.com). Source: about 3 years ago
  • Lost 17,000 $ of ETH due to hacked Metamask wallet
    Thank you! I just checked that. The account is newly created, it was only connected to myetherwallet.com. Maybe the whole Metamask wallet was compromised so the hacker can access to all the accounts within it. Source: over 3 years ago
View more

What are some alternatives?

When comparing Luno and MyEtherWallet, you can also consider the following products

Coinbase - Bitcoin, safe and easy.

Exodus.io - All-in-one app to secure, manage and exchange blockchain assets.

Binance - Cryptocurrencies exchange platform

Jaxx - Jaxx.io is a blockchain wallet available as desktop software, a mobile app, or as a Chrome extension

Bitfinex - Bitfinex is the largest and most advanced crypto-currencies trading platform.

Toshi - A browser for the Ethereum network