Malaysians can now buy, sell, and store AVAX on the Luno app and website. This brings the total number of coin offerings for Malaysians to ten.
AVAX is available on the Luno investment app from 17 May 2023. This brings the total number of coin offerings from Luno to ten.
Avalanche (AVAX) is a decentralised open-source proof of stake blockchain. It also comes with smart contract functionality. It is also more scalable than other coins. This might appeal to developers who are looking for cheaper platforms to build on.
“At Luno, we are big advocates of building and investing for the long term, and we believe it’s important to provide customers with access to a broader range of crypto offerings, as part of our efforts in expanding and developing the crypto landscape.
“We firmly believe in the long-term potential of the industry, and we will continue working closely with regulators to expand more investment options for all Malaysian investors”, Luno Country Manager Scarlett Chai said.
According to the media statement from Luno, each new coin it onboards comes through a thorough and rigorous screening process based on stringent technical, regulatory, and legal criteria.
“By adding these coins to the Luno platform, we are giving users the chance to explore more of what crypto has to offer, and to continue advancing accessibility of crypto investing for Malaysians from all walks of life,” concluded Chai.
Before investing in any cryptocurrency, Luno recommends that customers should always do their own research, exercise good judgment, and not be dictated by market sentiments.