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how are we going to withdraw our Bitcoin?

  • Thread starter Thread starter Olaoluwa Abraham Abiodun
  • Start date Start date
It's really sad and unfortunate how the Nigerian government has made such a bad decision. The only option that I see here s just to wait out the ban.. hopefully the government or the next set of government will do something about it.
 
one of the easiest way to withdraw your bitcoin without facing too much charges is that, once bizdustry pay to your luno wallet, convert the bitcoin to xrp and transfer the xrp to your binance account, the transfer charges of xrp is very low, then from binance you can do p2p.
 
This guide will talk about various methods of withdrawing Bitcoin, plus we will take a closer look at withdrawing Bitcoin for cash with Zipmex and a digital wallet. We will also talk about different things to consider while withdrawing Bitcoin for cash.

Before we begin though, let us give you a brief overview of Bitcoin.

Bitcoin is the most popular decentralised cryptocurrencies in the world, and it was launched in 2009.
 
I don't know how it goes in other countries where cryptocurrency is not legal, however, in my home country ceyprocurrency is illegal, and I cannot withdraw to bank as cash through a legal channel. I have to use third party channel. But usually I don't withdraw, I use to pay for goods and services.
 
Olaoluwa Abraham Abiodun said:
Baesd on the law passed on all banks by Central Bank of Nigeria, how do think people will be able to withdraw or convert their crypto currencies
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You can do this by looking for a trusted exchanger and sell your bitcoin to. That is a better way out of the so-called law that was passed
 
I think as a Nigerian, one of the easiest path to take is to use platforms such as binance and when registered and verified, you can make use of the peer to peer services to get your local currency funds in your local account .
 
Olaoluwa Abraham Abiodun said:
Baesd on the law passed on all banks by Central Bank of Nigeria, how do think people will be able to withdraw or convert their crypto currencies
Click to expand...
some exchange sites like Binance and Paxful are functioning perfectly. You can withdraw your bitcoin there and sell to a fellow user. It's easy
 
It is possible for you to transfer your bitcoin to someone in nearby country to help you sell it, and then he can transfer cash back to you, I tried it and it works for me
 
Adetayo100 said:
The ban placed on Nigeria Banks for processing crypto transactions by the government doesn't change anything, some wallet still process payment while you can use the p2p methods. Few crypto wallet allows p2p trading.
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I have seen quidax talking about their own peer to peer market place, but it seems they are not finding it easy due to the fact that so many people have already find binance as a better alternative.
 
as far as i know, crypto is really advanced in Nigeria, so i believe that there will be ATM's all over for that for people to withdraw their coins
 
I do not live in Nigeria. But as far as I know, you can still withdraw any kind of cryptocurrencies using exchangers and payment processors. You can even use third party payment processors and convert your bitcoins and then withdraw them in your local currencies. This is a LEGAL way to withdraw your cryptocurrencies in countries where cryptocurrencies are officially banned.
 
Since the ban, there has been a surge in P2P trading among investors in Nigeria, so that's also another withdrawal option although it still isn't better than the ability to withdraw directly to your bank account like before the ban
 
Withdrawing cryptocurrency in a country like Nigeria that has place a ban on it for now has really make life difficult in Nigeria. Though withdrawal can still be made possible through peer to peer transaction but must be done with a trusted person.
 
Concerning how we are going to withdraw our Bitcoin. Well, I don't think it is wise for the Nigerian government to place a ban on crypto currency. It is really not encouraging especially for the youth who are into legit business of cryptocurrency. I believe there is a way to withdraw or get your Bitcoin depending on the crypto currency exchange wallet you are using , after the ban, some crypto currency wallet has upgraded their application to make Peer-2-peer transactions
 
You cannot withdraw your bitcoin but you can sell it on cryptocurrency trading platforms like binance and roqqu. You can akso swap it for other coins.
 
richee84 said:
Withdrawing cryptocurrency in a country like Nigeria that has place a ban on it for now has really make life difficult in Nigeria. Though withdrawal can still be made possible through peer to peer transaction but must be done with a trusted person.
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I do not really think that it is impossible to withdraw your Bitcoins in Nigeria despite the cryptocurrency getting banned. It is still possible to legally withdraw Bitcoin money by exchanging it through various exchangers and receiving cash payment through third party reliable exchangers. But the caveat here is that you must only use reliable exchangers and avoid scam exchangers.
 
Olaoluwa Abraham Abiodun said:
Baesd on the law passed on all banks by Central Bank of Nigeria, how do think people will be able to withdraw or convert their crypto currencies
Click to expand...
The eitherway to me now if you have any questions or concerns you have any questions please feel to be a good fit for the position of a lot of people are going on internet and earn money for the best way to start the new year is treating the best for you and your family are in my thoughts and earn money and
 
Olaoluwa Abraham Abiodun said:
Baesd on the law passed on all banks by Central Bank of Nigeria, how do think people will be able to withdraw or convert their crypto currencies
Click to expand...
I don't think that's is an issue anymore, because we don't even remember if government put a banned on crypto currency again. Since you have your binance account wallet you could do p2p and get your money in your local bank.
 
I think the very Central Bank of Nigeria that actually started this crisis are having a is down with their securities and exchange commission counterpart to sought this out
 
The governments has indeed made made banks not to participate in things like crypto and it is affecting the space. Right now, I use binance pair to pair to sell all my crypto.
 
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