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

[Eshaaa]

Binance, one of the largest crypto exchanges by trading volume has come to the rescue of Nigerian crypto-traders as the Central Bank of Nigeria decided to ban crypto trading service by cutting all banking services to crypto traders and exchanges.

 

[Mawome]

Bro it's very simple as a b c d, I tell, all you need to do is just to convert the coin to ltc and send it to your luno wallet and then sell it, then you can transfer to your local bank account that's all, if it is Bitcoin you can still convert it to doller then if you have dollar you simple move the money their.

 

[Ridorz]

I think the ban of a cryptocorrency transaction doesn't affect a withdrawal of money fy wallet, it's just affect the deposit of money from local bank to crypto wallet. Because I withdraw from my Luno wallet on yesterday. And the reason Nigeria government said that is because they don't have access to view a wallet of people to know how much they have on wallet. And then the crypto currency has been used to loundry a money.

 

[Ub40]

The situation is very terrible. I have my money in luno but I have not tried to withdraw it yet. But I have a friend in a particular whatsapp group who has complained today of not seeing his withdrawal reflect in his bank account since last week Friday after withdrawing from luno. The situation is so scary.

 

[Jobiezue]

The situation is very terrible. I have my money in luno but I have not tried to withdraw it yet. But I have a friend in a particular whatsapp group who has complained today of not seeing his withdrawal reflect in his bank account since last week Friday after withdrawing from luno. The situation is so scary.

It's obvious that our people don't listen to need and follow instructions. It's a ban that warned banks seriously that any bank found funding anyone's account that is coming from bitcoin will be punished severally

 

[George10640]

The ban doesn't have an effect on my withdrawals Binance is still handling withdrawals its just direct bank deposit that its no more working with the platform.
Despite the ban peer to peer transfer will flourish.

I had they have temporarily suspended although binance have been the best p2p .Nigerians should try out other wallets that haven't been banned .You can try out remitano it is a p2p also and support local currencies. If there could be Mobile payments apart from banks it could be easier.

 

[zenith]

Let's forget about this central bank of a thing.actually we can still buy and sell and also withdraw.instantgold.com.ng is available,You can buy and sell using perfectmoney and I also got a message from binance that they have integrated bundle on their platform.you can use it to buy and sell also.

 

[Adetayo100]

Since the ban i have already withdraw funds in naira through my wallet and it was approved by the banks i think the problem is if you want buy crypto with your local currency and i think that is a small issues as you can use the p2p methods.

 

[Dylinks]

The ban doesn't have an effect on my withdrawals Binance is still handling withdrawals its just direct bank deposit that its no more working with the platform.
Despite the ban peer to peer transfer will flourish.

Binance didn't accept bank transfer but they have implemented card transfer for the purpose of purchase but the main issue is Withdrawal. As at this morning, a friend reported that his Zenith Bank account was frozen probably because of the new policy. Honestly speaking everyone is still looking for a way to come out of this menace.

 

[Ezzyoj]

A very tough time in Nigeria for cryptocurrency users. I withdraw from Luno the very day of the news and I got paid the following day. Hopefully they will other method we can withdraw will come up soon. I hope Federal government won't ban the use of cryptocurrency wallet in Nigeria. Those people can anything

 

[Setho]

the problem with rules and regulations in Nigeria is that they tend to be misarp after sometime as up till now, link my crypto currency platform still allows me to withdraw from my bank and my bank has not put any restrictions yet. If the eventually do, I also do bet on sports so I am most likely to send the crypto to my bet wallet and then withdraw to my bank and I think its is the most stress free.

 

[Jobiezue]

It turned out to be something not worth mentioning Nigeria when talking about bitcoin. The government that has no value fir her citizens ain't worth even talking about. The situation of bitcoin in Nigeria now is very critical.

 

[sam386150]

Since Federal government banned cryptocurrencies it has been a very bad experience for me because I have made a request for withdrawal over 4 days now nothing has been done I have not received any alert so I'm really confused.

 

[Bookwormlux]

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??

The only alternative would be to sell it to a trusted buyer, but I personally have withdraw my earnings last week after bizdustry paid me and there was no sanction on my account. I think withdrawal is still very much allowed for now.

 

[solomonmali]

With the recent price movements and Bitcoin halving event, there hasn’t been a better time to embrace crypto and get the most out of your Luno account! With Luno, you can buy and hold cryptocurrencies. You can also trade them on the Luno Exchange – a platform that connects potential buyers with potential sellers.

 

[IamDozzy]

I believe one can still withdraw with Luno but the deposit option has been disabled. But with time two things would happen. Either the government relaxes the policy and we can now deposit to buy crypto or the government outrightly enforces the policy thereby affecting withdrawal. In any way, Nigerians would still find a way around it.

 

[kayode10]

Those who invented cryptocurrency like bitcoin as envisaged something like this in the past, that's why they make it decentralized. The only option left for us in Nigeria to turn our our bitcoin to cash is to peer-to-peer menu. You receive lyrics for a trusted bitcoin exchanges and send your Bitcoin to him for cash. I think I'm lucky in this aspect cuz I have some of my friend who exchange bitcoin for cash. I simply said my bitcoin to them through peer-to-peer and they give me cash in return.

 

[GoldenLady]

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.

I think it sad that the government are doing this.

For many people in Nigeria, PayPal can't be used, exchanging foreign currency through banks is hell, and many people depend on it as their source of income.

It would be better to regulate it and how banks use it, than outrightly banning it.

This will make people resort to illegal ways t do things, which will further increase crime rate.

 

[Sincerem]

The only alternative would be to sell it to a trusted buyer, but I personally have withdraw my earnings last week after bizdustry paid me and there was no sanction on my account. I think withdrawal is still very much allowed for now.

Yours is better you withdrew your bizdustry funds via the exchange platform you make use of. Mine wasn't that way round, I'm still struggling to withdraw my funds. The local exchange platform I'm using its still working on processing the compounded transactions on their disposal.

 

[Ltherman]

In transacting with crypto within the ban one has to be wary of fraudster because the will be pervading everywhere and one has to be extra careful in dealings with them. A trustworthy platform like Binance is a good place to start. Check youtube for videos on how to go about it.