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Free $30 Worth of Bitcoin (BTC) for Signup and Verify @ Luno

3425
Free $30 Worth of Bitcoin (BTC) for Signup and Verify @ Luno
Go to Deal
camMMM on 07/11/2021 - 15:07 luno.com (7898 clicks)
Last edited 21/11/2021 - 14:06 by 3 other users
HELLOBITCOIN

Received as part of Hello Fresh box.

Free $30 worth of Bitcoin from Luno! Tested and works for same day withdrawal.

  1. Do not use referral. Using referral will void this deal.
  2. Download the Luno app.
  3. Sign up and verify your account.
  4. In rewards section, enter code HELLOBITCOIN
  5. To withdraw you will need to deposit $1.30 to cover their fee and then you’ll be able to withdraw straight away.

Important — Do not use the referral as this deal WILL NOT WORK! Only use the steps stated above.

Enjoy!!

Referral Links

Referral: random (102)

Referrer and Referee both receive A$35-A$75 worth of Bitcoin when referee deposits money into Luno wallet and buy or sell Bitcoin to the value of A$199 (Luno exchange not included)

Financial Cryptocurrency

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Luno
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closed Comments

              • Hargen on 07/11/2021 - 17:48
                +4

                @peterpeterpumpkin: http://classic.austlii.edu.au/au/legis/cth/consol_act/itaa19…

                Cost base as per tax legislation

                The first element is the total of:

                                 (a)  the money you paid, or are required to pay, in respect of * acquiring it; and

                 (b)  the * market value of any other property you gave, or are required to give, in respect of acquiring it (worked out as at the time of the acquisition).

                I would work off the actual tax legislation rather than some accountant's website.

                With gift someone is actually giving you post tax asset, hence the cost base is asset on the day you acquire it. However with the Lumo offer they are claiming a tax deduction for giving you that $30, so naturally logic stats the ATO want to assess on that otherwise companies can just give all the profit to someone in the form of an asset gift, claiming a deduction and the recipient doesnt have to pay a single cent of tax.

                • popsiee on 07/11/2021 - 17:53

                  @Hargen: You kicked everyone above you butts on the situation .

                  • peterpeterpumpkin on 07/11/2021 - 18:41
                    +1

                    @popsiee: Hey, are you an accountant? ATO forums say it's a gift but Hargen says it's not the case with Lumo.

                • peterpeterpumpkin on 07/11/2021 - 18:32
                  +2

                  @Hargen: I'm surprised you would post that section of the law without posting the market value substitution rule 112.20: http://classic.austlii.edu.au/au/legis/cth/consol_act/itaa19…. This part is common knowledge for most older adults (apportionment, splits and mergers - lots of non-arm's length situations among them - are both a sad and happy part of my life) and not really the question.

                  I can't really argue with the latter part since that's the original question I thought was being asked. I thought like you before I read the official "atocertified response" on the ATO forum (which I replied to OP). If you have evidence that differs from the ATO forums I'd be happy to read it. I trust random OzBargainers even less than online accountant articles and ATO reps on their official forum.

                • peterpeterpumpkin on 07/11/2021 - 19:17

                  @Hargen: I also forgot to mention that I agree with your logic (especially with crypto if it's deductible by Lumo, since it's basically a liquid asset nowadays so this makes it prime for money laundering and tax evasion) but I know that it's a loophole for other gifts (brown nosing gifts for future business are very common). Recipients of gifts as dictated by TD2016/14 don't regard it as assessable income, even though it's tax deductible for the giving business if "not of a capital nature". This of course comes back to arm length perceptions by the ATO (so you can't give a huge business reward to family). Crypto fails the deductibility test as a capital asset, but of course I don't know if there's more info I'm missing.

                  • Hargen on 07/11/2021 - 20:34
                    +1

                    @peterpeterpumpkin: Even the people in ATO can get it wrong, and I wouldnt be surprised if your suburban accountant would get it wrong as well. It will come down on how Luno will do the prefill reporting to ATO (if it does that)

                    Also TD2016/14 only deals with the deductability of the person giving the gift, not the person receiving the gift.

                    • peterpeterpumpkin on 07/11/2021 - 22:19

                      @Hargen: With regards to the receiver not paying tax on gifts, I only have experience with my previous accountants (hope they were right!) and more ATO forum links regarding cash backs as examples:
                      https://community.ato.gov.au/s/question/a0J9s0000001Dx8EAE/p…
                      https://community.ato.gov.au/s/question/a0J9s0000001ECQEA2/p…

                      But I agree that accountants and tax agents make mistakes all the time. Even the ATO has trouble applying public rulings to all cases and you can can sometimes avoid penalties in these cases. I was hoping a few accountants willing to put their brand name on the line could help us but OzBargain doesn't often get that level of input (I just noticed an accountant chipped in, but we rarely get non-anonymous input).

                      Even the pre-fill can be wrong, but it's better than nothing. I like how managed funds tell you where everything goes in the tax return, even though I have no idea where each cent in each each category actually comes from.

                      • Hargen on 08/11/2021 - 08:18

                        @peterpeterpumpkin: I know from personal experience CBA prefills the rebate as interest income. Obviously you can take it out but then it will trigger mismatch in the ATO database and could potentially trigger an audit on the entire tax return.

                        In an audit the community forum counts nothing, it is the audit officer who will decide whether or not you are right or not and whether or not to apply any penalty for incorrect lodgement. When you deal with government department every person can give a different answer so I wouldnt rely on just one ATO forum post as the source of truth.

                        • rektrading on 08/11/2021 - 08:55

                          @Hargen: The tax office will have to hire more workers this year because digital assets are here to stay.

                          3500 clicks on this deal alone could very well mean 3500 free gifts.

      • illusion99 on 07/11/2021 - 20:19
        +5

        Not correct. Cost base is $30. Source: I am a tax accountant

        • Hargen on 07/11/2021 - 20:26
          +1

          Best thing: get a private ruling or hide behind the safe harbour provision of a registered accountant

    • peterpeterpumpkin on 07/11/2021 - 16:30
      +4

      You may be right. Crypto sign-up bonuses are the same as cash sign-up bonuses according to some guy BlakeATO from the ATO forums. That is, a gift.

      • JHoliday on 07/11/2021 - 23:28

        Ok so what if that (free gift) $30 turns into $40 after a period of time, then you decide to sell? Is the capital gain $10 in this case?

        • peterpeterpumpkin on 08/11/2021 - 01:37
          +1

          Assuming the ATO forum is correct, and this is a gift, then yes, if you sell (or use, give away, convert etc) your Bitcoin after waiting for it to go up then you will pay tax on about $10 capital gains (about, since you minus any fees). If you wait at least 12 months before this happens, you'll pay 50% off this amount, just like any other capital asset (~$5).

          Crypto is extra complicated because the ATO does let you use it as a quasi intermediary currency for immediate personal use without worrying about these fluctuations. But then there are people that trade so often that the fluctuations are regarded as income rather than capital.

          You'd think an example so common would make it feature on ATO's website. We shouldn't need to guess or ask accountants about things so trivial.

  • vodamerc on 07/11/2021 - 16:22
    +7

    Avoid the $1.30 fees by depositing $50 then withdrawing ~$80 straight away. It does appear they use standard EFT for withdrawals though so not expecting until tomorrow.

    Edit: Already received back into my bank account

  • popsiee on 07/11/2021 - 16:23
    +1

    Good 1 OP : Hi XXXXXX

    Luno Promotions has sent you BTC 0.00035681 (~AUD 29.99).

    Thanks for using Luno

    It’s free to collect with Luno.
    COLLECT NOW

    To the moon 🚀
    Team Luno

    Questions? Visit our Help Centre.

    • darkmoss on 08/11/2021 - 11:13
      -2

      you only got AUD 29.99 ? weird…

  • popsiee on 07/11/2021 - 16:28

    Reward Code part must be done on the app .

  • bigsov on 07/11/2021 - 16:30
    +1

    does not work when you use referral link - this important detail must have been mentioned in the text.

    • Revrnd on 07/11/2021 - 16:33
      -1

      Referrer and Referee both receive A$20 worth of Bitcoin when referee deposits money into Luno wallet and buy or sell Bitcoin to the value of A$199 (Luno exchange not included)

      That was right under the description even before you posted your question.

      • bigsov on 07/11/2021 - 16:37
        +2

        yes I see you are actually mislead by this note exactly like I was. And this is why my negative comment.

        Nowhere here it is said that when you use referral it acually blocks you from using this 30$ deal.

        And referral deal is much MUCH worse than this particular deal so it is a BAD idea to use it.

        • Revrnd on 07/11/2021 - 17:43
          -1

          Honestly, I went for the bigger return on investment and chose the $30.

          I wasn't going to take $20 on depositing $200. Risk vs Reward, pretty much everyone else here went the $30 option.

          • bigsov on 07/11/2021 - 18:23
            +3

            @Revrnd: Good point, though how did you know that these are actually mutually exclusive options? Intuition? It was not mentioned in the original post and in T&Cs

    • camMMM on 07/11/2021 - 16:36
      +1

      The deal I posted was not the referral link. It was only the reward code. This neg is unjustified.

      • bigsov on 07/11/2021 - 16:39
        -5

        well.. you should have mentioned that referral BLOCKs your deal and leaves people with negative benefit (basically giving away you valuable data for nothing). Note that referral note is conveniently placed right under your post and TRUE OzBargainer MUST maximise benefit and use both. But it cannot be done.

        And you are not getting any benefit with referral deal UNLESS you actualyl buy BTC which not many people would do. This particular deal is good indeed because it does not force you to buy BTC.

        This should have been explained in the post.

        • askbargain on 07/11/2021 - 16:42
          +1

          Should have read the T&C's.

          • bigsov on 07/11/2021 - 16:44
            -6

            @askbargain: fair enough, you can always say that. Are you reading all T&Cs yourself? did you read T&Cs for this deal - in full?

            Many types of SCAMs are organised like this: there is small condition in T&Cs in small font on page 52

            Btw I am not saying this deal is bad - it is actually good value so thank you OP for the deal but I have to put negative vote based on my experience based on one important detail omitted (note that quite a few people in this thread have the same issue and got negative benefit from this deal) - so I believe my vote is fair and justified. Note that true OzB spirit is to maximise bargain value of any deal so using both promos is sensible and is in spirit of OzB.

          • bigsov on 07/11/2021 - 17:33
            +2

            @askbargain: just looked at T&Cs, cannot find a place where this issue is described. I actually think that you have not read them as well. Could you please quote a place in T&Cs where it says that this offer cannot be combined with referrals?

            "Redemption conditions:
            New customers may only redeem one invite Promotional Code before making their first transaction after signing up with Luno. To be eligible for the Promotion, the new customer must not have made any prior transactions using Luno and must otherwise meet any conditions specified in the Programme."

            • 2023 on 07/11/2021 - 19:05
              +1

              @bigsov: What did you think this code was?
              It's a sign up promotional code, which is what referral codes typically are as well.
              I've done this dance enough to know it's pretty rare you can double dip on signups, best to pick the better of the two.

    • Quotationz on 07/11/2021 - 17:13

      If you can't follow instructions no reason to neg.

      • bigsov on 07/11/2021 - 17:24

        I exactly followed instructions but there are 2 important limitations which were not in the instructions and my neg is about important info missed in the post

        • sween64 on 07/11/2021 - 17:46
          -2

          The instructions are on the linked photo of the card.

        • sween64 on 07/11/2021 - 21:29

          That's what a report is for, not a neg

          • bigsov on 07/11/2021 - 21:34
            +1

            @sween64: unfortunatelly I did a referral frst and basically now missed out on 30$ because of this mistake. I cannot now get 30$ with my current credentials even with different account. So fixing this issue in the original post unfortunatelly did not help me and a few people here who did the same mistake. Though OP now fixed the post (well done!) and I hope overall this discussion (and my input) helped a few people here to follow the process correctly

  • Jimbuscus on 07/11/2021 - 16:32
    +2

    ID check took about 5 minutes, I wouldn't recommend using the app for buying crypto as it only has 5 available, you have to apply for withdrawals which takes two weeks and the fees are the highest I have seen.

    Best thing to do would be trade to AUD, pay the $1.30 and then withdraw to bank, I'll be depositing the $26 that was left after fees to Binance whenever they eventually initiate the withdrawal.

    Could have deposited $50 to make it no fees both ways, but I don't trust the app enough to risk it, $1.30 fee for deposit then withdraw is fine for this.

    • Revrnd on 07/11/2021 - 16:34

      Was thinking withdraw and put straight into Crypto.com - $30 free to throw into CRO.

    • popsiee on 07/11/2021 - 16:34

      Hmmmmm does anybody care about $30 .
      Just let the BTC stay put and grow .
      You can delete the app s8 away if it bugs you .

      • Jimbuscus on 07/11/2021 - 16:37

        At that amount you would be better off with altcoins like Solana & BNB in the current market.

        BTC isn't going to double anytime soon and $30 is risk taking amount more than savings.

        • popsiee on 07/11/2021 - 16:40

          Have you done a study of the BTC graph .
          To me it seems to be going one direction the last decade .

          • Jimbuscus on 07/11/2021 - 16:47

            @popsiee: I have been trading altcoins all year while holding my Bitcoin & Ethereum, it's alt-season right now.

            I bought Solana at $48 a few months ago and it just hit $350 last night, I recommend having a look at that chart, plus it's market cap still isn't very high despite being able to do so many more transactions per second than Ethereum, with all the same smart contract support, lower fees and large scale community adoption including NFT's.

            That $30 could end up as more converted back to BTC in the short term on solid projects. The reason so much investment is pulling into altcoins at the moment is because as an assets market cap grows larger, it requires more investment to push up its price, Bitcoin is the best long-term crypto when you have more to lose.

          • ajr5k on 07/11/2021 - 16:54

            @popsiee: Past performance is no indicator of future performance.

            • rektrading on 07/11/2021 - 17:09

              @ajr5k: What is an indicator of future performance?

              A chart that goes down to the right or the one that goes up to the right?

              • ajr5k on 07/11/2021 - 17:19

                @rektrading: If I had an accurate indicator of future performance, I would have no need to use Ozbargain.

              • Homr on 07/11/2021 - 18:34
                +2

                @rektrading: Elon's tweets

    • Jimbuscus on 07/11/2021 - 16:38

      The withdrawal to bank only took about 10 minutes on a Sunday which is alright, ended up with $26.32 net gain after swapping to LTC to try to withdraw, then to AUD, + 2x bank fees of $1.30.

    • sertse on 07/11/2021 - 17:03
      -1

      Fees are the highest you've seen? Trading fees for the lowest tier is 0.1%, which is the same as Binance? Their 'Instant Buy' is a rip off though just for the convenience…but it's the same model as Binance that you have use the trading tool to get the lower fee.

      They do limited pairs though and making you wait for to send to a wallet is ridiculous

      Direct link to the fees so people can confirm for themselves https://www.luno.com/en/countries/AU

    • 2023 on 07/11/2021 - 19:06

      A few posters above have done just that and withdrawal as cleared already?

      • Jimbuscus on 07/11/2021 - 19:09

        My AUD withdrawal only took about 10 minutes.

  • vl3tbol on 07/11/2021 - 16:40
    +5

    i type in HELLOBITCOIN and got error only be applied once per person. my account already verified.

    • Jamiea on 07/11/2021 - 16:55

      Worked fine for me

    • smogg on 07/11/2021 - 16:59

      Worked fine for me as well, you have to redeem via Luno app.

    • sween64 on 07/11/2021 - 17:05
      +3

      You're not meant to use the referrals

    • quick-dry on 07/11/2021 - 17:23
      +1

      you need to sign up without referral code, verify, then put in the reward code. The moment the code was entered it gives you the $30.

      not a scam, but could be clearer. Try setting up another account and see if it works, otherwise it might be blocked until the referral conditions (depositing and buying $199 of crypto) are satisfied.

    • Revrnd on 07/11/2021 - 17:38
      -3

      Only use the referral if you intend to deposit $199 and get the $20.

      Otherwise use the code to get $30 free BTC.

      Instructions weren't that hard.

  • pompompom on 07/11/2021 - 16:42
    +4

    I'll keep it in the wallet.
    Expecting to be a millionaire in 2030 off the 30 dollar worth of btc.

  • Truck-kun on 07/11/2021 - 16:42
    +2

    I signed up and got 30aud BTC. thanks op

  • lawyerz on 07/11/2021 - 16:55
    +1

    Signed up and got $28.11 minus $1.30 deposit. free money is always good. thx OP

    • simplerick on 07/11/2021 - 17:18

      Will you have to declare your $28.11 as income at tax time? I can't seem to get a straight answer here

  • vince088 on 07/11/2021 - 16:56

    Do i sign up on website or in app?

    • sween64 on 07/11/2021 - 17:13

      app

  • ajr5k on 07/11/2021 - 17:04
    +2

    Couldn't pass the stupid verification on this. I'd normally be sus but lots of other people seemed to have no problem. Doesn't matter.

  • Ash-Say on 07/11/2021 - 17:07
    +5

    Deposited $50, so was able to withdraw $79.47

    $29.47 profit. Overall took less than 10min

    • colssrg on 07/11/2021 - 17:37
      +1

      $29.48 profit, beat ya!

      • Chickenleg on 07/11/2021 - 17:41
        +1

        $29.53 😁

        • Ash-Say on 07/11/2021 - 17:44

          My partner also did the same and got $29.48 profit.

          Overall $58.96 😁

  • mj7312 on 07/11/2021 - 17:13
    +5

    Should put in OP that if you use the referral, you cannot use the code for $30. Would have saved a lot of hassle.

  • sween64 on 07/11/2021 - 17:14
    +2

    T&C's limited to first 4000

    • 2023 on 07/11/2021 - 19:10
      +2

      Glad I got in early then.

      Adding $30 worth here to my other few signups and I've almost $100 worth of bitcoin.

      I'll be holding a pool party in my bitcoin mansion in a few months, all of Oz bargain invited.

  • vince088 on 07/11/2021 - 17:25
    +1

    I received the btc, when i enabled send, it won't let me send until I wait 2 weeks.

    What is the other method everyone is using??

    • Revrnd on 07/11/2021 - 17:40

      Cash out. You get the $ in 10-30min or so

      • vince088 on 07/11/2021 - 18:14
        +1

        Deposit $50 then sell the btc and withdraw everything??

        • brendanm on 07/11/2021 - 18:39

          This is what I did.

        • Revrnd on 07/11/2021 - 21:11

          Yep.

    • Jimbuscus on 07/11/2021 - 19:14

      I took the AUD out and deposited it in Binance, gave me more options than just 5 cryptos.

  • Frogprince on 07/11/2021 - 17:29
    -4

    BT coin will drop to 0. The Himalaya Coin is rocketing to the Moon! Take down the CCP!

    • popsiee on 07/11/2021 - 17:44

      You probably don't have any $$$$$$ to put into my IPO FTF ( FleeceTheFish )

  • 9hcpz on 07/11/2021 - 17:30

    Deposited $50 then withdraw all of them. It worked no problem. Got the money already.

  • Bradellin on 07/11/2021 - 17:32

    Deposited $50, withdrew $79.52.

    Cheers OP. 10 minutes for some easy money.

  • Utsav23 on 07/11/2021 - 17:39

    I did not use HELLOBITCOIN while signing up. Do I still receive free bitcoin? I used the desktop version.

    • sween64 on 07/11/2021 - 17:44
      +2

      Doubtful, you need to use the app. Try downloading the app, signing in to your account and adding the code to the rewards tab.

      • Utsav23 on 07/11/2021 - 17:58
        +2

        Thank you, buddy. It worked. Withdrew 79.44$ :)

  • simplerick on 07/11/2021 - 17:51

    Anyone get the 'we're reviewing your information' part for the ID verification? I don't want to wait a few days for that to be completed while I wait to apply the bonus code

    Nevermind - it finally went through

    • ozblogger on 07/11/2021 - 17:53
      +1

      Should be verified in 5 mins

  • Homr on 07/11/2021 - 17:56
    +1

    Is this better than digital surge?

    • Jimbuscus on 07/11/2021 - 19:17

      None of these small apps are very good, I'd recommend Binance for free AUD deposit/withdrawal for $50+, 0.1% fee (cheaper with bnb), largest volume per pairing and significantly larger choice of altcoins.

      • Homr on 07/11/2021 - 19:19

        I've been using digital surge and quite like it.

        Digital allows me to instant buy and sell without having to convert, however I noticed there's a variance in the buy and sell price with them compared to the real price on the market

        Binance seems confusing as I need to convert AUD to BTC and whatever pair I need to buy it on

        • Jimbuscus on 07/11/2021 - 19:22

          Yeah, I wouldn't recommend using Binance unless you become comfortable with trading pairs, I generally use USDT which is paired with almost everything.

          • Homr on 07/11/2021 - 19:23
            +1

            @Jimbuscus: right I see, so convert AUD to USDT?

            • Jimbuscus on 07/11/2021 - 19:25
              +1

              @Homr: Yes that's what I do, there are pairings with AUD but it's too limited, if I deposit to Binance without intention of buying straight away I still convert to USDT and hold that.

  • congo on 07/11/2021 - 18:01
    +1

    So which cypto is currently good to invest in?

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