I just finished trading crypto and yeah, I have made some money. Now, what?

Well, there are many things you can do next such as investing in Luno investment platform, start crypto business to make more, using the wallet to earn free cryptos, and more.

But I guess you came here because you wanted to see how to withdraw money from Luno to your bank account, right?

If that is correct, then welcome because that is exactly what we are going to do now.


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How to Withdraw Cryptocurrencies from Luno to Bank Account – Part 1

Withdraw Cryptocurrencies from Luno to Bank Account

 

Here are the simple steps to getting your money to a local bank from your Luno account.

1. Sign up/Sign in to your Luno crypto account.

 

2. On your dashboard, go to wallets at the top right corner.

Luno wallet account

 

3. Click on it and go to your wallet accounts.

how to withdraw money from luno to bank account

 

4. Select or click on Bitcoin and move on.

how to withdraw btc from luno to bank account

 

5. Go ahead and choose the currency you would like to sell for?

I will select the local currency “Naira” and move on. Do the same for your country.

 

6. Select how much Bitcoin you would like to sell. I will go ahead with all. If that is your preferred option as well, click on “Max”.

Assess the service charges. In my case, I am being charged 2% – 2% (Approx. NGN 221.77).

If you’re okay with it, go ahead and confirm the transaction and move on.

how to withdraw money from luno to your bank account

That is all.

 

If you followed the prompts correctly you will get the same result of success as shown below.

how to withdraw from luno wallet to bank account

So, that is pretty much how to withdraw Bitcoin (BTC) or any other crypto on Luno cryptocurrency to the local currency balance, ready for bank transfer.

 

We are done with part 1 because the money was moved to my local currency account on Luno.  

how to withdraw bitcoin from luno to bank account

Now let’s go ahead and see how to transfer money from Luno to a local bank account.

 

How to Transfer Money from Luno to Local Bank Account – Part 2

 

1. Click on the local currency tab. On the next page, click on “Withdraw”.

how do i withdraw money from luno to my bank account

 

2. Withdraw to the local bank account you added to your Luno account.

If you are yet to do that or want to add another, just click on “Add new bank details”.

withdrawal limit on luno

 

3. Enter your preferred amount. If you want to withdraw all, click on “amount” to fill in all the money.

how to withdraw from luno to bank account

 

4. Lastly, confirm the amount and the charges and finally click on “Confirm”.

For this transaction, I was billed N200 – withdrawal fee.

luno daily withdrawal limit

That is all.


If you’ve done everything correctly you will get a “Mission success” note.

how to withdraw from luno wallet to bank account

Congrats. 😎 

 

When will you receive your Money from Luno to your Bank Account?

This can be instant, 15 mins, 24 hours, or more based on the terms of the country of residence.

For Nigerian users, according to Luno, the withdrawal will be processed within the next business day according to the NGN withdrawal schedule.


how to withdraw from luno to your bank account

Be it as it was, I just received the money alert from my bank in 3 mins.

 

Luno Daily Withdrawal Limit, Will you be affected?

Luno’s daily withdrawal limit is one of the frequently asked questions by users. Now here is the answer.

  • The Luno daily withdrawal limit for level 1 verified users is N200,000.
  • The Luno daily withdrawal limit for level 2 verified users is N500,000.
  • The Luno daily withdrawal limit for level 3 verified users is not stated but not also limitless. You can learn more.

If you are excited about how simple it is to use Luno, go ahead and get an account to get started below.

Final Note on withdrawal from Luno to Bank Account

If you read my article on Luno review, you would have seen why I choose just 3-4 platforms for crypto operation.

  • For local bank deposits, I use Luno. And at times, Blockvilla.
  • For Crypto trading, Binance which always been the favorite place to go to.
  • For multiple wallets of 1,000+, the Trust Wallet does the work pretty well. You can see other wallet options.

 

All right. That is it guys on how to withdraw money from Luno to a bank account.

 

Over to you.

Have you ever withdrew money from Luno to your bank account? If yes, let me know your experiences so far?


Read also – How to BUY and SELL ETHEREUM on Luno 

 

Ref: Graphics – Canva.com, Hardware wallets, Trading platforms, BTC Prices.

Comments (2)

  1. Avatar for Bill Crypto
    February 16, 2021

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