Bitcoin has become a popular digital currency that has gained a lot of attention over the years. With its increasing popularity, people are now looking for ways to sell their bitcoin. If you are a Nigerian looking to sell your bitcoin, Luno is one of the best platforms to use. In this article, we will be giving you a step by step guide on how to sell bitcoin on Luno Nigeria.
Step 1: Create an Account
The first step to selling bitcoin on Luno Nigeria is to create an account. You can visit the Luno website and click on the “Sign Up” button. You will need to provide your email address, password, and country of residence. Once you have created your account, you will need to verify your email address.
Step 2: Verify your Identity
To sell bitcoin on Luno Nigeria, you will need to verify your identity. This is a necessary step to prevent fraud and money laundering. You will need to provide your full name, date of birth, and address. You will also need to upload a copy of your ID card or passport. Once you have submitted your details, Luno will verify your identity within a few hours.
Step 3: Add Your Bank Account
To sell bitcoin on Luno Nigeria, you will need to add your bank account. You can do this by clicking on the “Wallets” tab on the Luno website and selecting “NGN Wallet.” From there, you can click on “Add Bank Account” and enter your banking details. You will need to provide your bank account name, number, and sort code.
Step 4: Deposit Bitcoin
Once you have verified your identity and added your bank account, you can now deposit bitcoin into your Luno wallet. To do this, you will need to click on the “Wallets” tab and select the “BTC Wallet.” From there, you can click on the “Deposit” button and copy the bitcoin wallet address provided. You can then send bitcoin to this address from your external bitcoin wallet.
Step 5: Sell Bitcoin
Once you have deposited bitcoin into your Luno wallet, you can now sell it. To do this, you will need to click on the “Buy/Sell” tab on the Luno website and select “Sell Bitcoin.” From there, you can enter the amount of bitcoin you want to sell and select your bank account as the payment method. You will then need to confirm the sale and wait for the funds to be deposited into your bank account.
Step 6: Withdraw Funds
After you have sold your bitcoin, you can withdraw the funds to your bank account. To do this, you will need to click on the “Wallets” tab and select the “NGN Wallet.” From there, you can click on the “Withdraw” button and enter the amount you want to withdraw. You will then need to confirm the withdrawal and wait for the funds to be deposited into your bank account.
In conclusion, selling bitcoin on Luno Nigeria is a straightforward and easy process. By following these six steps, you can sell your bitcoin and withdraw funds to your bank account within a few hours. Remember to always verify your identity and bank account to prevent fraud and protect your funds.