Frequently asked questions
How do I verify my account with Swatinvestment?
In order to send, receive, trade or store crypto with Swatinvestment, you’ll need to first verify your identity as a resident of a country in our list of supported countries.
There are different account levels, with deposit and withdrawal limits that apply to each level:
- Level 1 – Confirm mobile number and basic personal details and selfie photo (no older than 24 hours)
- Level 2 – Submit/Photo scan of government-issued ID (accepted documents)
- Level 3 – Submit proof of residential address (accepted documents)
Read our Help Centre article to learn more about how account verification works.
If you are not eligible to use Swatinvestment in your country, you will still be able to sign up for an unverified account where you can explore Swatinvestment without verifying your identity.
I’ve lost access to my Swatinvestment account, what now?
If you’ve forgotten your password or have lost access to your two-factor authentication (2FA) application, you’ll need to go through the relevant account recovery process.
Please do not create a new account – you won’t be able to verify it.
If you’ve lost access to your email address and/or phone number, you’ll need to contact us in order to make the necessary updates on your account. Don’t worry, we’ll verify your identity before we change anything.
I’ve made a deposit but it’s not showing in my local currency wallet. What now?
Unfortunately, moving money from the old financial system to the new is not immediate. It can take up to two business days for us to receive your deposit from your bank. But don’t worry, as soon as we receive your money it will be immediately allocated to your wallet.
If you have been waiting longer than two business days it may be because:
- An incorrect BX reference was used as a payment reference;
- A cash deposit was made, or;
- A third-party payment was made
Read our Help Centre article to learn more about how depositing works.
How do I secure my Swatinvestment account?
We take the security of your wallet and your cryptocurrency very seriously, but we do recommend you enable additional layers of protection that you can use to better secure your Luno wallet. Ensure that you:
- Enable two-factor authentication (2FA)
- Disabling cryptocurrency sends
- Choose a strong password and change it regularly, to make it that much more difficult for an intruder to access your wallet.
- Self lock your account by reporting suspicious activity in the event your account has been compromised or your cryptocurrency is stolen from your wallet.
Read our Help Centre article to learn more about how to keep your Luno account secure.
How do I buy cryptocurrency?
Buying cryptocurrency with Swatinvestment is easy. Depending on your region, you will first need to make a deposit using a bank transfer, EFT or any other method available to you.
Once your deposit has reflected in your local currency wallet, you can proceed to buy cryptocurrency with those funds.
Visit our Help Centre to learn more about how to add money to your Luno wallet and then buy cryptocurrency.
I want to withdraw money. How long does this take?
Unfortunately, moving money from the new financial system to the old is not immediate. We will immediately process your withdrawal, but depending on your region and the bank you use, it may take up to two business days to allocate your withdrawal to your bank account or for easy and quick withdraw, we can send it to your crypto address. Above are the most common questions we receive from our customers. To learn more, visit our Help Centre.
How to buy cryptocurrency in four easy steps
Step 1: Sign up with Swatinvestment
Visit our signup page to create a Luno account.
Step 2: Verify your identity
See our detailed guide to having your identity verified.
Step 3: Deposit money into your Luno wallet
Refer to our guide on how to add money to your Swatinvestment wallet to buy cryptocurrency.
Step 4: Buy cryptocurrency
Refer to our buying cryptocurrency guide to purchase your cryptocurrency
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How do I deposit money?
Before making a deposit so that you can buy cryptocurrency, you’ll have to set up your profile by telling us a bit about yourself. Once done, you can go ahead and make a deposit into your local currency wallet.
Important things to remember
Banks take at least 2 business days to process deposits (longer over weekends, public holidays and when you make a deposit after hours), so that’s how long it’ll take for your money to show up in your local currency wallet, you can use your other crypto platform to transfer money using our bitcoin address. (Note: our support center will send you our crypto deposit address via Email prio on registration).
Once we receive your deposit via bank deposit or through our currency address, we’ll automatically add it to your wallet, and notify you via email. We don’t accept cash deposits, and the deposit needs to come from a bank account in your own personal name or through your bitcoin or other coin address.
Here’s how
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Open the swatinvestment site and sign in
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Select Wallets from the menu
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Choose your local currency wallet
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Select Deposit
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Choose the method with which you’d like to top-up your wallet
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And follow the on-screen prompts from there
You can also buy a preset amount of cryptocurrency – or specify your own – by selecting the desired amount on the Home screen. If you already have a balance in your local currency wallet, you’ll be able to buy cryptocurrency instantly. If not, you’ll be prompted to make a deposit first.
Different payment methods are available in each country. Be sure to read and follow the instructions carefully.
In some countries, we may ask you to use a unique reference to help us track your deposit. Enter this reference with your bank when making the deposit to ensure it reflects on our bank statement.
Depending on your country, we may also ask you to send a unique deposit amount to help us identify your deposit. This amount will be slightly more than the deposit amount you entered.
For our South African customers
Log in to your online banking (no cash deposits), create a beneficiary, and then make a deposit using Luno’s bank details. To make it a little easier for you, if you bank with ABSA, Standard Bank, Capitec, FNB or Nedbank, you can just search for “Luno” under “Public Beneficiaries”, instead of manually entering our bank details. More about that here.
How do I withdraw money from my swatinvestment wallet?
Once you’ve sold cryptocurrency, you may want to withdraw local currency from swatinvestment to your bank account or you wallet address. We make this process simple. Please ensure your identity is verified and your bank account is linked to your swatinvestment wallet (otional) in order to request a withdrawal.
You’ll be able to do this using the on your desktop or mobile web browser.
How long does the process take?
Withdrawal times depend on your country and your bank. For more information, please see our withdrawal schedule.
What are the fees for withdrawing money?
We only charge you a fee if your bank charges us a fee. .