Luno withdrawal – If cryptocurrency is anything to attract global attention, then Luno as an exchange should be a reoccurring decimal.
It’s practically almost impossible to buy, sell or store bitcoin without the aid of an exchange.
Cryptocurrency exchange is a digital marketplace where traders can buy or sell cryptocurrencies by simply issuing or tendering their fiat currencies or altcoins.
Additionally, exchanges are online platforms which are arguably intermediary linking buyers and sellers of these cryptocurrencies.
About Luno
Luno is a cryptocurrency exchange that fundamentally changes how the world views and uses money. Basically one of the earliest pioneers in the exchange industry.
Luno operates in over 40 countries of the world with record users of about 5 million people. It wants to upgrade everyone, everywhere for a better financial experience.
This is typically not a beginner’s guide to cryptocurrency, I will be walking you on a tightrope if you’d really want to credit your wallet with bitcoin or effect Luno withdrawal.
Read also: Beginner’s guide to Bitcoin investment in Nigeria
That said, let’s walk up to the big stage all at once.
How to credit your Luno bitcoin wallet
Primarily you will need to sign up on www.luno.com. Having signed up,
- Sign in and click buy bitcoin
- You will see options, asking how much bitcoin you’d want to buy, select the amount in naira and click
- Buy
- Go ahead and top up your wallet with value of the bitcoin amount you’d wish your wallet credited with.
- In this category, you have three options top up your wallet namely; bank transfer with Flutterwave, bank transfer with Paystack, debit or credit card with PayU.
- Whichever platform you select will redirect you to the payment platform where you are expected to complete your payment with your debit or credit card details.
If you are paying with Flutterwave, you will be given or shown an account number (7829276597) and account name usually Bitx Payment Limited- Luno NG, this account number may change as deem fit by Luno. From this point you proceed to your banking app to complete the payment.
Note: You can credit your naira wallet with value first before proceeding to make bitcoin purchase.
- Having sign in
- Click on wallet
- You will see your naira wallet alongside “BTC” with an option to add another wallet.
- Click on the “NGN” wallet
- Then click on “Deposit” you will then see the three options to pay with bank transfer with Flutterwave, bank transfer with Paystack, debit or credit card with PayU.
If you choose to pay with Paystack, you will be required to input the amount in naira, you have a minimum deposit of N10 with a maximum deposit of N100,000 at a time/per single transaction.
Continue to Paystack and complete your transaction.
Note; on Luno you could buy bitcoin, sell bitcoin, send or receive bitcoin alongside other cryptocurrencies supported by the platform.
How to sell bitcoin on Luno
- Sign into your luno account
- Click on wallet
- In the list of options, click “Sell” choose “bitcoin”
- Click on “NGN wallet”…. You will be asked how much bitcoin you’d like to buy? Input the amount and click on next, you will be redirected to the payment page to complete your payment.
Note: Before you should proceed to buy bitcoin, ensure that your wallet is funded to the tune of intended purchase amount.
How to send bitcoin on Luno
If you really want to send bitcoin, it’s very important to understand that bitcoin and other cryptocurrencies cannot be reversed when sent, and you won’t get your money back, so apply due diligence, pay attention to details.
- Sign into your account
- Click on wallet
- Check the ”I understand and want to send anyway” button. Then click on enable send
- A link will be sent to your phone number, follow the link to authorize your action. At this point either you authorize the sending or deny it.
Now you are expected to enable your two-factor authentication, enable API keys etc and complete your transaction.
How to receive bitcoin on Luno
- Sign in to your account
- Click on wallet
- Click on receive
- Choose a receiver address you’d want to receive bitcoin with
- Select currency in this case “BTC” then amount expected, copy the bitcoin address generated and forward to the sender, who in turn sends you bitcoin with the details.
Luno withdrawal/ How to withdraw bitcoin on Luno/Luno Nigeria withdrawal
The beautiful thing about Luno is that it supports local currency, you can easily withdraw your bitcoin into your naira bank account as NGN.
Read also: How Koinwa Bitcoin Wallet Is Helping Many Businesses In Nigeria Grow
- Sign in to your account
- Click on “wallet”
- Click on the “NGN” as seen, you will be redirected to a platform where you will see the “Withdraw button” click on it
- Add your bank details if you didn’t have any in place, your fund will be sent to your naira bank account.
Luno minimum deposit
The minimum deposit is $10 or its equivalent in your local currency.
Conclusion
You can effect Luno withdrawal within minutes, so long your account is funded with the proposed withdrawal amount.
Additionally, sending bitcoin/cryptocurrency should be meted with extreme care, this is to avoid sending your funds to scammers or overshooting the transaction since you cannot effect a reversal on crypto transfers at this time.
