How do we withdraw our crypto currency

[FreshKaz11]

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 don't think there is any problem getting your crypto in here and turn it to your local currency,since there is p2p option on some kind of site out there,so you trade it and get your local money into your bank I guess.

 

[Josephjossy]

There are many ways you can withdraw your crypto currency. It depends on the platform you are using and your country policy. You can withdraw through P2P. If you use platform like Luno you can withdraw to your bank by selling your crypto and withdraw on your local currency. But I think p2p is the best but it have high risk of been scam

 

[Ralphjoe]

I have been withdrawing my cryptocurrencies on the payment platform using the peer-to-peer feature of the platform and since then I haven't had any issues or challenges in fact I do get a very good exchange rate price for my cryptocurrencies. The only issues with P2P is the possibility of scammers scamming people that are not aware of how the P2P system works.

 

[Setfragil]

The Central Bank of Nigeria do not ban individuals from buying and selling cryptocurrencies, it only ban banks and other big financial institutions from participating in cryptocurrency business to avoid banks using money deposited by customers to invest in cryptocurrency. Individuals can buy and sell cryptocurrency through peer to peer.

 

[Kelly5]

The current way and also that now seem to be the only way to withdraw your cryptocurrencies form any platform is to go and use such platforms peer to peer payment facility. That way, you get to sell your cryptocurrencies as well as buy any

 

[Senator]

To withdraw your assets from luno, you simply have to open or register on another cryptocurrency exchange like binance where you can be allowed to withdraw your assets In luno to and subsequently sell it in their P2p platform there

 

[Dubai]

I guess you would have found away to withdraw your crypto currency by now. You can do a peer to peer transaction or you transfer it to someone's wallet and get paid the equivalent.

 

[Keibah]

Right now I am holding my cryptocurrency. However, if I feel the need to exchange them for local currency, there are many p2p platforms out there. You just need to find the right one.

 

[GIFTMICHAEL]

I'm just new to the world of crypto, I'm enjoying my time taking my funds through crypto. I learned about cryoto from my brother, and improve with Bizdustry. I'm still on the learning process.

 

[joy101]

I withdrew my payment from crypto currency, because the transaction is very fast to use, so I like withdrawing my money and it very easier for payment.

 

[Eodine]

It's really sad to see that the government is trying to control what would help citizens but regardless, the crypto world is fast adapting so you can transfer your crypto to another app like binance to withdraw your crypto to your account through peer to peer.

 

[tyrim88]

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.

A lot has actually change in the ways that cryptocurency can be widthdraned.countries has been feeling threatned by these currency and thereby puttint out restrictions.But you can do a transfer to a buyers wallet and the cash can be paid into your account or by cash.

 

[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 the best way if you are looking to take out your cryptocurrency is rather to take it to a wallet and then from there you can use the funds in order to purchase gift cards that can be used within your region.

 

[Kunkun]

Well with the ban in Nigeria, peer to peer trading has surged as it is the new means of cashing out on coins but for me I usually send my coins to a betting platform like 1xbet and then make withdrawal to my bank account from there easy

 

[Kingsley]

Initially it was a major challenge to get our crypto currencies out of our wallet as cash or into our bank account just immediately after the ban. But thanks to binance and other exchangers that introduced P2P transaction features that enabled smooth transactions.

 

[Jlife]

If your cryptocurrency is on binance exchanges you can move it to the P2P account from there you can sell it out to people,that is the only way you can withdraw your money since the Federal Government of Nigeria has bann direct withdrawal 2 bank

 

[Trexxxy]

Just like a lot of people in the comments have mentioned I think P2P is a viable option also you can sell to your local vendors people who buy for a particular rate.

 

[GIFTMICHAEL]

Those who Cryptocurrency works 100% for, withdraws directly to bank account. Those who aren't dealing on crypto which is given the node is simply using P2P method to cash out.

 

[Ub40]

I think so far since after the ban on crypto, p2p has been the major means of withdrawing cryptocurrency to bank account. Personally, i have not used this platform for transactions yet. But it is rather unfortunate that scammers have found their way into this platform to scam people of their coins.

 

[Niftyyem]

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

Luno is not the only platform that works in Nigeria. You just have to embrace a platform that offers peer to peer trading, and that way, you are able to get your funds out.