How do we withdraw our crypto currency

[Adeyoola7]

In light of the recent circular from the Central Bank of Nigeria (CBN) advising financial institutions to close bank accounts held by cryptocurrency service providers, Luno has been forced to disable all Naira withdrawals and deposits.

Since we can't withdraw from luno again what is left for us to withdraw

 

[Joshua Farrell]

Thought this would be a good place to move this to, since you did place this topic in the board that isn't meant for these types of questions. The User Interview board that you posted this in, is meant for those who want to answer questions from other users, whether it be about their favorite movie, or whatever.

If referring to this forum, currently other users can offer payout options, if they have the funds to do so. The PayPal feature that is called Xoom, where we can send to bank accounts, isn't set up yet, so we can't offer that as an official withdraw option at this time; though we might be able to offer it in the future, after some PayPal issues are sorted on the business account.

 

[Josephjossy]

There are many ways to withdraw your crypto currency, First you can withdraw it from p2p. p2p simply means by sending it to someone and the person will transfer you the money in your local bank account. Secondly is by shopping with it, you can also buy things with your crypto currency

 

[Chumzy]

When the concept of crypto currency came on board there were few who believed. It felt like a stagnant technology that may never see the light of the day. But then with time people believed so you can do peer to peer withdrawal.

 

[Briangsam]

Since the ban on cryptocurrency by the Central Bank of Nigeria, many people have been left worried, disgruntled and stranded because they can not have access to their money. But people seem to be finding ways around the ban. P2P is used or people buy things online with it.

 

[eojo2401]

There are some online shopping site that accepts bitcoin, search for them and used your cryptocurrency to buy items you need from those stores. You can even convert your naira in some site and used it to buy cards, pay electricity bills or TV bills.

 

[KvngMurphy]

I taught about that severally too but got to realise that wasn't really a challenge as we can always get someone who's in need of Crypto currency to send to while they run is the equivalent in our local currency. The government taught they limited us but we're just getting started

 

[Donolatunji]

By executing a SWIFT bank transfer (also known as a wire transfer) to your own personal bank account, the most common and reliable method used to withdraw these fiat currencies is. Most exchanges would charge you a fee to carry out the withdrawal, equivalent to withdrawing a cryptocurrency.

 

[btaliat]

Although I also taught of this when the regulation was newly done but I was assured by my fellow that it is not thing to worried about. Though I have never used peer to peer platform but it is the only option for now. So I am keeping my coins till when I will use the p2p platform.

 

[Mixi]

There are two methods that we’d recommend for building a business website: using a website builder, or WordPress. The former is suitable for tech beginners, while the latter requires a little coding knowledge.

 

[Bangiszz]

Well if you are using a good crytpo app there are many ways you can withdraw your money, for instance p2p is a new method invented by the apps. It allows you to withdraw money through bank transfers.

 

[Dery]

In light of the recent circular from the Central Bank of Nigeria (CBN) advising financial institutions to close bank accounts held by cryptocurrency service providers, Luno has been forced to disable all Naira withdrawals and deposits.

Since we can't withdraw from luno again what is left for us to withdraw

The best way to go about this is to transact with crypto. Sell and buy things with the currency as the means of exchange. Then using the peer to peer option too is incredible if you want the cash.

 

[Mostee501]

My advice for you is to use a platform whereby you can sell your digital coins through peer to peer means and this way your monry will be sent to your bank account.

 

[Ehizzy1]

I still make use of crypto currency to recieve my payment to my bank account, its very fast ,and i haven't had any issues ,Just make use of peer2peer its very much easier

 

[Delight]

Most crypto currency exchanges do not allow you to deposit funds using fiat money, however,some do.this is how is done:when you deposit your Bitcoin into the exchange then,once the exchange has received your bitcoin,you can request a fiat currency withdrawal.

 

[Damscooguns73]

Concerning how to withdraw our cryptocurrency into our local banks. Well, since Nigerian government have decided to ban cryptocurrency in the country, the new method that people used and which has also been adopted in cryptocurrency wallet application is the p2p means. If you have a good wallet app, it would be of much help

 

[BrolySSJ]

In light of the recent circular from the Central Bank of Nigeria (CBN) advising financial institutions to close bank accounts held by cryptocurrency service providers, Luno has been forced to disable all Naira withdrawals and deposits.

Since we can't withdraw from luno again what is left for us to withdraw

I think that due to the recent restrictions that have been placed on cryptocurrencies within Nigeria that it would be best to probably be patient until this is revised and you will then be able to withdraw any of the funds that you are achieving or working for within various platforms. Alternatively the only way is to use a third intermediary part out of the country to help you.

 

[Bookwormlux]

I believe that hy now you have already gotten a means, if no, make sure you download business application and get verified so as to easily buy or sell in their peer to peer market place.

 

[Nomad]

If you earn crypto currency, you shuld consider holding your cryptos instead of withdrawing and spending. Even though people use cryptos as payment method, I believe crypt is an asset you should invest.

 

[Kelly5]

You can simply do your withdrawal now by simply transferring all your assets tonl wllets or exchanges that offer what we call p2p type of transactions