How to transfer bitcoin to any bank account in Nigeria

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Drealup

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How to transfer bitcoin to any bank account in Nigeria
Posted on: January 05, 2018, 12:49:52 AM
After learning the basics of Bitcoin plus the many ways to make money with it, let's come to how you can convert the money you made from Bitcoin to the Nigerian Naira.

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+ many more of these questions will be clarified!



If you hadn't started, the first step requires that you visit www.blockchain.info/wallet and click on “Signup or Get Started Now” button so as to create a free bitcoin wallet”. Then fill in your email and type in password and password confirmation (make your password to be a mixture of alphabets and numbers). Then click on “CONTINUE” — after ticking the terms of service button.

Go to your email (the one you used when signing up) and click on the mail sent to you from Blockchain to open the content. Copy your “Wallet Identifier” and keep it safe somewhere. That is what you will always use whenever you want to log into your blockchain account. Finally, click on VERIFY EMAIL to be redirected automatically to a page showing that your email has been verified.

After that find your way back to www.blockchain.info/wallet and click on LOGIN. Enter your wallet identifier and your password, and then click on LOGIN.  You can fortify your account by enabling additional features such as backup security phrase and adding your phone number.

The best best way to get coins is to find an exchanger. Many people have affirmed that Naira4dollar a legit exchanger in Nigeria. They are tested and trusted, and you can pay without visiting their office. But before any transaction with them first confirm from them to know what they have on ground.Now you have the needed Bitcoin.
Read!Where to buy Bitcoins in Nigeria? Find out!

 How to transfer bitcoin to bank account in Nigeria without Exchangers

Those who wish to withdraw their Bitcoin into their local bank account in Nigeria should try Luno. It was formally called BitX, and it has a wallet for withdrawal. LUNO wallet is safe for withdrawal, and it is directly connected to any Nigerian bank.

LUNO displays bitcoin in naira, instead of the usual USD and is simple and easy that you can send all your bitcoin from other wallets to it.

After initiating withdrawal, wait for six hours for the process to complete.

You can use your ATM card to deposit money from your bank account to LUNO wallet on their website. Any name you use to register on LUNO should be the name you used to open your bank account so that there won’t be two different names representing one person.

 There is a one-time LUNO account verification required before you can deposit or withdraw from LUNO.

The requirement is that before you can make any transactions on LUNO, You must first verify your account with a National ID card, Driving license or International passport. The reason for this verification is to have a 100 percent safe transaction.


To withdraw bitcoin into your bank account, simply click on “More” under your BTC balance. Click on an option termed “Instant Sell”, put in the amount you want to sell in naira or in BTC, and confirm the amount.

After confirming the amount you continue. Your naira or NGN wallet will automatically show your money in naira. To see your NGN wallet, just go to ‘menu’ and click on wallets. Then click on “Withdraw” on the NGN wallet to transfer the money into your local bank account. Input the amount you want to withdraw and proceed.

To fund your account, you will see “Fund” on the NGN wallet: click on it and then click on “PayU”. You will proceed to deposit with your ATM card.

Learn More!4 simple ways to earn bitcoins in Nigeria and even make money with it

You are charged a processing fee of N100 on any withdrawal you make on LUNO. First level users can deposit or withdraw maximum amount of N200,000 on LUNO, while the maximum amount to be deposited or withdrawn by second level users is N500,000 monthly.



 

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