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

[Trojan8]

I have been thinking about this and to be honest it looks blink. Bundle Africa sent me a mail a while ago that withdrawal is on hold and it sucks like hell. I am honestly tired of the Nigerian government and its anti citizen policies. They should be smarter than this though, it is the masses that suffer in these cases.

 

[Bookwormlux]

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.

I used luno to receive my payment on that Saturday and it was processed same day, though someone I referred still has his withdrawal transaction pending because they refused to allow him withdraw. I don't even understand what's happening again.

 

[Patrik]

there is one small trick, but i don't know if it's going to be supported in your country or not, try selling those crypto funds to someone who has it supported and then he will send you cash through Western Union

 

[Sincerem]

I used luno to receive my payment on that Saturday and it was processed same day, though someone I referred still has his withdrawal transaction pending because they refused to allow him withdraw. I don't even understand what's happening again.

Hmm, you got luck on your side, I used Bundle Africa to receive my earnings. It is not accessible for withdrawals based on the ongoing issues with Nigeria banning naira to Cryptocurrency transactions. I'm just not happy with the current trend of things.

 

[Bookwormlux]

Hmm, you got luck on your side, I used Bundle Africa to receive my earnings. It is not accessible for withdrawals based on the ongoing issues with Nigeria banning naira to Cryptocurrency transactions. I'm just not happy with the current trend of things.

I think it would be better for you to get in touch with someone who wants to purchase crypto of the amount you have, then you exchange with the person and receive fiat currency since withdrawal is not possible.

 

[Sincerem]

I think it would be better for you to get in touch with someone who wants to purchase crypto of the amount you have, then you exchange with the person and receive fiat currency since withdrawal is not possible.

Okay, i don't even know where to reach out for people to transfer Cryptocurrency to them and receive fiat currency as an exchange for that. Do you know of any platform where i can track those who can exchange with me and send my country's fiat currency into my bank account??

 

[Bookwormlux]

Okay, i don't even know where to reach out for people to transfer Cryptocurrency to them and receive fiat currency as an exchange for that. Do you know of any platform where i can track those who can exchange with me and send my country's fiat currency into my bank account??

If you are on nairaland.com there is an ecurrency thread where buyers and sellers meet to exchange crypto currencies. Go to the business section. But it is best to do your research and know the reputable buyers because there are many scammers there. Also make sure you use an excrow.

 

[Yewande]

Withdrawal isn't an issue with the recent ban on crypto currency exchange Business in Nigeria. Despite the ban most crypto currency exchange platform are still handling out withdrawal to customers like Luno and binance, the only thing affected is just the deposit

Please how sure are you of this. Because I have some cash in my Luno account and I have been skeptical not to withdraw it because I don't want my money to hang in the air. Please I await your feedback

 

[Nurudeen]

Please how sure are you of this. Because I have some cash in my Luno account and I have been skeptical not to withdraw it because I don't want my money to hang in the air. Please I await your feedback

Withdrawal is very much available on Luno. I still make some withdrawal to my bank account on Saturday. They only disable the buy option so your money is safe

 

[Debola]

To make a withdrawal:

1. Tap the TRANSFER button on the app's home screen.
2. Tap WITHDRAW.
3. Select CRYPTO.
4. Select External Wallet.
5. Locate the whitelisted withdrawal address and tap Withdraw.
6. Enter the amount and tap Withdraw.

 

[Ltherman]

If you are on nairaland.com there is an ecurrency thread where buyers and sellers meet to exchange crypto currencies. Go to the business section. But it is best to do your research and know the reputable buyers because there are many scammers there. Also make sure you use an excrow.

Since the ban people have been dependent on peer to peer for exchanging crypto back and forth. But i usually prefer dealing on an exchange where the exchange can act as the escrow. I have been scammed once on an escort group and it was done so professionally that i know people will keep falling for it

 

[Henrywrites]

Although I am yet to make any withdrawals for now bit according to the news I read on Luno blog, there is no stopping of naira withdrawals rather that of deposits. What platform is stopping withdrawals into local bank accounts?

Are you sure this is not a damage control announcement just to keep hold of customers while they try finding alternative options. The announcement by the Central Bank of Nigeria was clear and I don't think any crypto site will dare to flaunt it at the moment.

 

[Sincerem]

If you are on nairaland.com there is an ecurrency thread where buyers and sellers meet to exchange crypto currencies. Go to the business section. But it is best to do your research and know the reputable buyers because there are many scammers there. Also make sure you use an excrow.

Thanks a lot for the eye opening information, I'll go check on Nairaland and also make deep inquiry about the reputation of the buyer to avoid being scammed. Cos scammers are everywhere looking for who to scam.

 

[Akinwale701]

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??

as a Cryptocurrency merchant, their so-called policy did not affect me in any way, I buy bitcoin from people to BlockChain, Paxful, and Luno wallet... Only my Luno wallet can have a problem but I do nott still have the problem because I sell on it and withdraw to my bank account.

 

[Sincerem]

as a Cryptocurrency merchant, their so-called policy did not affect me in any way, I buy bitcoin from people to BlockChain, Paxful, and Luno wallet... Only my Luno wallet can have a problem but I do nott still have the problem because I sell on it and withdraw to my bank account.

Good one, yours is better off as a top crypto merchant. I also transact through luno, but luno seems delaying much, since the issue of naira and crypto transactions where cancelled by the federal government.

 

[Nicklas22]

Although I haven't made any withdrawal for now but on my previous withdrawal I normally uses luno, but I will make more enquiry before I go about to make my withdrawal
But I'm thinking of using Binance also if luno can't do it anymore

 

[Chumzy]

A few years ago there were so many few wallets available for use in crypto. I think it was mainly block chain and it was so difficult for the ordinary man. People still bought and sold coins and made their money and that is what we go back to.

 

[solomonmali]

We are well of the CBN memo circulating the internet with the title Letter to all deposit money banks, Non-banks financial institutions, and other financial institutions. In line with this directive, financial institutions are being prohibited from supporting or aiding cryptocurrency transactions.

As a result of this directive, there will some changes in our mode of operations;
- Deposit to your wallet can only be done using your card for now as the bank transfer feature has been suspended.
- Withdrawal of fiat from your wallet is still functional but could take a longer time for you to receive the funds.
- Crypto transfers are working at top speed as the directive did not affect the Blockchain.
- Crypto Savings is still functional and still continues to yield its interest as stated.
Crypto transfers are working at top speed as the directive did not affect the Blockchain. We are also working on measures, engaging all partners and stakeholders from the various sectors to restore all operations back to normal.

 

[Irfanali]

How to withdraw cryptocurrency from your wallet?

Log in to your Coin Cola account. Click 'Wallet' (website or mobile app). ... Choose the type of coin you want to draw and select the 'Return' option. Enter the withdrawal address, refund, payment password, and click the "Confirm Return" button to complete the transfer.

 

[Akinwale701]

Good one, yours is better off as a top crypto merchant. I also transact through luno, but luno seems delaying much, since the issue of naira and crypto transactions where cancelled by the federal government.

Yeah, I observed that too. Since the law was passed and announced, I have bought thousands of dollar of BTC from some people who are used to selling on Luno because of the law that was passed. It. was a very bad announcement but no matter what, we move.