Luno recently added support for the Ethereum blockchain, allowing South Africans to buy and sell in rand. The company also added an Ethereum wallet to its cryptocurrency storage portal, meaning users can send and receive Ethereum to and from other Ethereum addresses.
Luno is primarily a cryptocurrency-to-fiat exchange, and like most exchanges, its Ethereum wallet does not support ERC20 tokens. Many cryptocurrencies which are built on Ethereum, such as OMG and Augur, can be sent to an Ethereum address and accessed from supported wallet software.
As Luno users do not hold their own private keys, they will not be able to recover ERC20 tokens – even if they download a standalone wallet client.
“If someone wants to participate in a token sale, they should send their ETH from Luno to an ERC20 compatible wallet,” said Luno’s Werner van Rooyen.
“Customers should also not send any unsupported currencies or ICO tokens to their Luno account.”
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