Since the Nigerian government banned crypto to naira withdrawal, what method are you using to withdraw your coins??

[Ltherman]

I also believe peer to peer is the best way for now, since there is no guarantee that the banks will not shut down your account if you receive payment.

Let's hope this policy does not last long.

Its expected the banks will definitely be clamping down on accounts linked with anything crypto. So the best way will be to deal with peer to peer what the original plan was. The same American FBI that the CBN claims to have influenced its decision didn't query the investment of Tesla in bitcoins.
Something is amiss in all this conspiracy.
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People are also making use of a betting site where the deposit their naira and convert to crypto and transfer to their wallets and vice versa. Am so unperturbed by their new policy cos as Nigerians we'll always innovate our way out of it.

 

[Kelly5]

Since the ban on cryptocurrencies on Nigerian banks by the central bank of Nigeria CBN, I have withdrawn only once twenty four hours after the ban. And the withdrawal was successful. But someone who used the same service I used in my withdrawal also did his within twenty four hours after the ban as well but has still not been paid till now

 

[Genius]

Those of us from Nigeria are experiencing lousy time when it comes to crypto to naira withdrawal into the local bank account. The country stopped such transaction taking place, and its hard now to withdraw the coins down to our naira bank account. Since the government doesn't want anything that has to do with naira and crypto transactions to place in the bank in order not to get the the fiat currency devalued.

Do you think their is any alternative left to withdraw our coins??

I suppose a more effective and efficient way will come up soon. Nigerians are not giving up too. We will work around it and figure out a better way. For now, I haven't heard of any. It is better to keep your coins rather than sell. A number of people are buying because they perceive something greater coming.

 

[McChris]

As them done ban the transfer stuff well shall I can't tell. But one can transfer from usd. But government should not ban that instead the will help to reduce the way people use to cash out there instead of banning crypto currency exchange to naira in this our country

 

[Sincerem]

I suppose a more effective and efficient way will come up soon. Nigerians are not giving up too. We will work around it and figure out a better way. For now, I haven't heard of any. It is better to keep your coins rather than sell. A number of people are buying because they perceive something greater coming.

Okay, i will keep my coins i won't be in a rush to cash out, cos i know better things its on its way to reaching us. More better ways will come to tackle this melancholy that is facing our country hard caused by our leaders that have no human reverence.

 

[Blessings um]

Since the information came online I have not been to withdraw yet but a friend of mine withdrew from his wallet. I have only transfer from my wife account to my own account in order to sell.

 

[Kingsley]

They don't seem to be any cogent reason or reasons as to why the crypto currency were banned in Nigeria, other than share wickedness from those people at the seat of government, they are just been very wicked. And they also lack the foresight to any economic blueprint and progress. Nigerians need to speak with one voice against this wickedness. I foreseen another protest.

 

[Planet408]

The government can't even succeed in total banning of the use of crypto. Well there are other options as I learnt. You can withdraw your crypto to 1Xbet and exchange to Naira. Though I have not yet tried this option but will likely try it soon. You can as well sell or buy crypto from trusted exchanger.

 

[Henrylaw]

I think the main purpose of cryptocurrency is to encourage peer to peer exchange. Exchanging coins to naira (fiat currency) was not the initial intended purpose. Block chain techonology in which cryptocurrency is built is largely decentralized and can not be monitored . I think this is the primary reason why it was banned some days ago in Nigeria. According to the federal government of Nigeria, crypotocurrency is often used to fund fraudulent activities, terrorisms and some other vices in the hence, the ban.

 

[Josephjossy]

From a statement release by luno, they said that withdraw is ongoing and will continue to be processed. The only problem now is deposit. You cannot make any deposit right now because of the CBN order but I pray that they resolve everything cause it is really hard for Nigerians

 

[idhans]

Those of us from Nigeria are experiencing lousy time when it comes to crypto to naira withdrawal into the local bank account. The country stopped such transaction taking place, and its hard now to withdraw the coins down to our naira bank account. Since the government doesn't want anything that has to do with naira and crypto transactions to place in the bank in order not to get the the fiat currency devalued.

Do you think their is any alternative left to withdraw our coins??

I learned that you can still deposit with card in luno but not with bank transfer anymore. I wonder how cryptocurrency is affecting the high rate of unemployment in Nigeria and I wonder how cryptocurrency is affecting the corruption that is going on currently in Nigeria.

 

[Psalmseen]

Yes definitely! There are different method of withdrawing one's coin to naira. It was due to the federal government directive that made us discover these various methods. One of these method is through a betting site called bet king. You can withdraw your coin to bet king as if you wanna bet, then, you'll convert it to naira. Then you can withdraw it to your local bank
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Yes definitely! There are different method of withdrawing one's coin to naira. It was due to the federal government directive that made us discover these various methods. One of these method is through a betting site called bet king. You can withdraw your coin to bet king as if you wanna bet, then, you'll convert it to naira. Then you can withdraw it to your local bank
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Yes definitely! There are different method of withdrawing one's coin to naira. It was due to the federal government directive that made us discover these various methods. One of these method is through a betting site called bet king. You can withdraw your coin to bet king as if you wanna bet, then, you'll convert it to naira. Then you can withdraw it to your local bank

 

[GoldenLady]

I am just certain there would always be a way around such issues, so I am not too bothered about withdrawal. However, most times being able to deposit and buy straight from the platform helps avoid possible issues such as being scammed and the likes.

Scammers will have a field day here, especially those on Nigerian forums like nairaland.

This ban affects so many businesses, both in and outside Nigeria. I hope the government reconsiders soon.

 

[Sincerem]

I learned that you can still deposit with card in luno but not with bank transfer anymore. I wonder how cryptocurrency is affecting the high rate of unemployment in Nigeria and I wonder how cryptocurrency is affecting the corruption that is going on currently in Nigeria.

That's a good news somehow that luno accepts card deposit of cash via their exchange platform. I really don't know how Cryptocurrency have affected their corruption pattern and the unemployment rate. Cryptocurrency have already rectify somehow the unemployment rate in Nigeria and worldwide also. The corruption have been there, even before Cryptocurrency originate.

 

[Niftyyem]

Scammers will have a field day here, especially those on Nigerian forums like nairaland.

This ban affects so many businesses, both in and outside Nigeria. I hope the government reconsiders soon.

Yeah! I am looking forward for an overturning of such policy because even in the few days of it being circulated, a lot of issues have arisen. For those scammers, I would suggest people to only deal with people that are reputable enough on such forums or to use top exchange sites.

 

[Alexandoy]

I admire the Nigerian government to impose such restrictions on the usage of crypto. At least the government officials have thought about the risk of the crypto that can make people poor. In our central bank one employee said that the crypto is a scam that people are now aware of so they are buying. Think if no one will buy the crypto what will happen to people who are holding a lot of crypto? It is a digital commodity that we cannot hold. It is only described in our imagination. Those are the words of the central bank guy who was my classmate in high school.

 

[Adeyoola7]

The ban don't not mean we are not withdraw our money we I here the new last week I have been thinking how are we going to withdraw our crypto currency now but luno said the ban don't have any affects on withdraw so we can still withdraw for now but we can deposit to it from our local bank

 

[Jobiezue]

This has caused so many sleepless night to many of us here in Nigeria. You can't withdraw and can't even fund to buy crypto currencies this is so bad and the government doesn't really care about the future of the youths.

 

[Khezo]

Withdrawal are still very much possible you just simply have tomuse the withdraw on luno or binance. This two platforms as discussed on there site that withdraw would be possible

 

[tuna89]

I was lucky to have withdrawn all the cash i had in bitcoin when the prices dropped because i needed the cash and also due to the drastic fall in the prices of bitcoin as well. But if at all i had some btc, i would need to find trusted vendors with whom i can initiate p2p transactions or btc for cash, i believe this is the method in vogue after the ban.