Ever been thinking of how to buy and sell your Bitcoin or Ethereum with cash (Naira), well Luno is one of the exchanges where you can sell or buy Bitcoin/ Ethereum, as well withdraw directly to your local bank account.

This post will guide you through on how to deposit, sell and withdraw into your local bank account with ease of use.

Of course, before you start trading, you will need to register and be verified on the platform. But if you are already registered and verified, let’s ride on.

There are three levels of verifications on Luno, these determines the amount you can transact on it.

Level 1: Verification is with your phone number usually during registration. Limit is ₦200,000. This simply means that you cannot have more than ₦200,000 in that account.

Level 2: Verification is with any of your ID card (National ID, voters card, driving license or international passport). Limit is ₦500,000 monthly. You cannot withdraw nor deposit more than ₦500,000 in a month but you can have any amount of Bitcoin in your Wallet.


Level 3: Verification is with any of these: Utility bill, Bank statement. Limit is ₦10m monthly withdrawal and deposit. You cannot withdraw or deposit more than that in a month but you can have any amount of Bitcoin in your Wallet.

ALSO READ: How To Convert Your Bitcoin to Naira

How to Deposit on Luno From Your Local Bank Account

To begin, ensure you have a verified ATM card that can be used for online transaction.

  1. Go to menu, and click on wallets.
  2. Select NG₦ wallet
  3. Click on “PayU Debit or credit card” or GT collections if you are using GTBank.
  4. Enter the amount, click next. Then click continue.
  5. You will be redirected to PayU website. Click on Card payment, then enter your ATM card details (Card number, holder’s name, expiration date), click on Pay.
  6. Cross check the details. Safe token (OTP- one time password) will be sent to your phone number as SMS for verification. Enter the code in the space provided on the website to complete the transaction.
  7. The money will be deducted from your account and your LUNO NG₦ wallet will be funded with the amount (minus the fee).

How to Convert Your Naira to Bitcoin on Luno

Now, after successfully depositing your money, you will need to convert it to Bitcoin and to do that;

  1. Click on wallets
  2. Then click on BTC wallet
  3. Under it click on Buy. Select “with NG₦”
  4.  Enter the amount of BTC you want to buy and click continue, confirm your transaction. The money will be deducted from your NG₦ wallet and your BTC wallet will be credit with the equivalent amount in Bitcoin.

ALSO READ: How to Easily Identify Bitcoin Scams

How to Withdraw Your Bitcoin/Ethereum in Your Local Bank Account

  1. Go to BTC wallet/Ethereum wallet, click on sell.
  2. Click on “for NG₦”.
  3. Enter the amount of Bitcoin/Ethereum in Naira or BTC you wish to sell. Click continue.
  4. Confirm the transaction. The Bitcoin will be deducted from your BTC wallet and its equivalent in Naira will be credited into your NG₦ wallet.
  5. Go to NG₦ wallet, click on withdraw.
  6. Select your bank (which details must have entered during your registration) and enter the amount in Naira you wish to withdraw. Click on Withdraw.
  7. Confirm the transaction.
  8. The money will be deducted from your NG₦ wallet and your bank account.
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After the above steps, you should get alerts via email or/and SMS from Luno that your transaction is in progress and another one stated that it’s successful. Then wait for your alert.

You can drop your contribution below – in the comment box or share your experience with us.


  1. I upgrade my luno account to verify 3.
    I got email that I should wait after 3 days and today is the fourth days.

  2. I have reached my monthly limits.
    What will I do. How can I withdraw my money . Should I wait for a new month


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