Every time I start a new topic on this website I am always happy because it will benefit you a great deal.
But why not just write about crypto news and make money via ad placements?
Because the country is not fair with a lot of Nigerian citizens. I will continue to come up with the best ways I know on how to make money in crypto as an enthusiast in Nigeria, South Africa, USA, India, and beyond.
In today’s lesson, we want to make sense of Luno investment options and how to make passive income with Bitcoin in Nigeria even if you are a beginner. Let’s get started.
P.S – kindly note that this guide follows suit for any other country allowed to transact on Luno.
💡 If you are new in the space, get your expert Crypto Case Studies via email for your profiting in the Crypto space.
💡 Also, click the bell on top of this page to get notifications when a new banging article drops (Refresh the page if you don’t see it).
💡 And lastly, go here to join our YouTube for first-hand lessons with crypto trading.
Into Luno Investment Review in Nigeria and Beyond, Will you make Money with BTC?
Luno recently launched a new earning platform in the form a lending wallet called “Bitcoin Savings Wallet”.
As you know, there are many ways to make money with cryptocurrency but the simplest and a no-brainer option as a Nigerian and beginner is using Luno’s investment platform which is by lending cryptocurrency for interest over time.
By far, this option is for those who can’t trade cryptocurrencies, want to earn some free altcoins, and ultimately, for those who do not want to take any risk with their crypto assets.
Basically, the formation is, why buy cryptos and just keep them only when they can lay eggs for you by lending them out to those that want to use it for investments?
Here is the thing, if you want to save up Bitcoin for the future, instead of leaving it in a normal Bitcoin wallet, why not lend out and get 4% interest at the end of the year with no losses from your end?
If you are excited already, let’s see how it works.
How Luno Bitcoin Investment Works
Luno offers any investor up to 4% interest if Bitcoin is deposited in the BTC Savings wallet in form of lending to the platform.
The Luno Bitcoin Investment program is like creating a FIXED DEPOSIT account with a bank and getting interest per month or yearly based on the fact that your money is given out for investors who pay interest to the bank.
All you need to do to get started with Luno Bitcoin Investment is to create a BTC Savings Wallet and transfer Bitcoin in to earn up to 4% interest per annum.
When you do, Luno will pay the interest into your BTC Savings wallet on the 1st of each month till the year is over.
How You Earn Interest on Luno’s BTC Savings Wallet
When you transfer Bitcoin into your BTC Savings wallet, it is then lent to their trusted lending partners who enter into individual loans with third parties.
While your BTC Savings wallet is for long-term investing, you can transfer your Bitcoin out at any time at no extra charge.
Because this is not a normal BTC wallet, how long it takes to transfer out to your Bitcoin wallet usually completes the next day, but can take up to 7 business days based on the queue of withdrawals.
The Cons with Luno’s Investment Lending Platform
1. The interest rate is variable
Just as we’ve seen all you will get from it, nonetheless, it is important to note that there is some risk with the Luno investment platform. Here is it.
Your interest varies depending on market conditions, which means your interest rate may change over time. Here is an example.
If you invest 1 Bitcoin today in using Luno’s Saving Wallet, you will make N350,000+ after one year which translates to about $700 in interest.
The bad news is that there’s zero guarantees that the price of Bitcoin will be the same as of 7th December 2020.
To know more about the terms of the investment platform, check out Luno terms before you proceed.
2. Transfers can take up to 7 business days
Taking your investment out of Luno may take 7 business days for it to be processed.
You know, since this is not a normal Bitcoin wallet but a unique one JUST for the investment purpose, it will take a bit of time for it to be approved for withdrawals.
The Pros with Luno’s Investment Lending Platform
Passive Income Generation – with Luno’s lending package, you create a residual income for yourself since you don’t have to do anything else to receive the interest.
Apart from these 2 cons stated, you benefit all the way (like what you enjoy from fixed deposits) if at all this investment sounds good to you as you will discover from her terms of service.
Observation on the investment interest payment: it is worthy to note that your interest will be paid out monthly and not daily or weekly.
How to Create Luno Investment Account and Make Money in Bitcoin
To get started, you need to create a Bitcoin Savings investment wallet on Luno. Here is how to do it.
Step 1. You need to open a Luno account. Click here to sign up on Luno.
Step 2. Enter your Email and password, then go to your email account and click the verification link sent from Luno.
Step 3. The link clicked will land you on the sign-up page, sign in to your account, and proceed.
Step 4. Go to “wallet”.
Step 5. Click on “Add a new wallet” and move on.
Step 6. Select “Bitcoin Savings Account.
Step 7. Read the intro and click on “Next” to move on.
Step 8. Read Savings wallet terms, tick the box, and continue.
Step 9. Fund the investment account.
You can fund the account from your Bitcoin wallet balance on Luno or fund it using credit card, or better still, transfer from another Bitcoin wallet you have and continue.
To see how the Savings Bitcoin Wallet looks like, click on “Go to BTC savings wallet”.
That is all. To fund the account, click on “Transfer BTC in” and you are in.
How You Can Earn in Bitcoin on the Luno Investment Platform?
Disclosure: This is for informational purposes. Plus, the analysis is as of the time of writing. Kindly read Luno terms for more info.
Today, Bitcoin is $19,247.80/BTC.
Since the lending platform promises a no-fail 4%, here is how much you will earn.
4/100 X 19,247.80 = $769.912
At the end of 365 days, you would have made $769.912 extra on the Luno investment platform. This figure translates to over N300,000.
Wrapping up with common questions about Luno investment trading.
Top Alternatives to Luno Investment Platform
Common Questions about Luno investment platform on Bitcoin
Q. is Luno investment real or legit?
A. Yes it is real. Luno has been in the business as a crypto exchange for years now and every innovation on the platform is valid and legitimate for customers interested to do so.
Besides, a lot of other exchanges are doing the same like Binance, Crypto.com, Nexo, and Celsius.
Q. How does Luno investment work?
A. The investment platform allows bitcoin owners to lend their Bitcoin using a unique wallet called “Bitcoin Savings Wallet” to save their BTC and get interest at the end of 30 days. The interest is derived from lending out your crypto to third-party investors.
Q. What is Luno Investment Wallet?
A. The Luno investment wallet called “Bitcoin Savings Wallet” is a lending wallet different from the normal BTC wallet with the purpose is accrue your interest on the investment platform.
Q. How Can I invest on Luno Website?
A. To invest you need to create a Luno account fund your BTC wallet by transferring local currency to it or using a credit card and finally using the purchased BTC to invest in the investment wallet. Start here.
Q. What is Luno Investment all about?
A. It is about making passive income by lending your Bitcoin out to Luno where they in-turn give it out to investors to make more money.
Q. What is Luno’s minimum investment plan?
A. There is no specified or a minimum investment amount on the Luno investment platform, meaning, you can invest enough/little as you decide and can afford.
Q. Does Luno bitcoin investment work in Nigeria?
A. Yes. All Nigerians into crypto are allowed to invest on the Luno’s Bitcoin Investment platform.
Q. Does Luno Bitcoin Investment work in South Africa?
A. Yes. Investors from South Africa can also lend their Bitcoin on Luno’s investment platform.
Q. Can I access Luno investment via mobile app?
A. Yes. Upon testing it myself, I have seen that it is possible, so yes, you can access your investment platform using Luno’s mobile app.
So, now what?
Getting an interest of 4% on your Bitcoin after a year is more wins for you.
But the question is, does this resonate with you?
If yes, then you can join other investors and make sense of the investment platform of passive income.
Like we said before now, to get started with Luno investment, you, first of all, have to become a customer by creating a Luno account.
From there you deposit money to your Luno account, using the same to buy BTC for funding or by transfer, and finally using the purchased BTC to invest on the Luno investment platform by creating a new wallet called “Bitcoin Savings Wallet”.
Over to you. 😀
Did you hear of Luno’s investment platform before now? If yes, have you invested in it? Also, if yes, what has been your experience with it so far?