How To Convert Crypto Currencies to Naira.

How to convert your crypto currency to Naira with the Luno Android App

Hey guys, it’s no news that crypto currencies are gaining weight especially in recent times, hence the need for means to convert from crypto currencies to the usual paper currencies to ease the use cryptos.

In this article, I will be showing you how to convert from cryptos specifically, Bitcoin and Bitcoin Cash to Naira using the Luno app.

Few steps are involved which when followed, you would have your desired result.

• Step 1.

You should have the luno app installed in your Android device and have an account opened in it. If not, you should do the following.

a. Open the Google play store on your Android device.

b. Install and enable it, it should be less than 30mb in size.

c. Open an account by signing up. You would be asked to give details of your name, your email address, and your phone number.

Next, your phone number and email address will be verified. Your email address will be confirmed when you click on the link in the email which would be sent to the email address you gave. To confirm your phone number, a code will be sent to the number you filled in. You would type the code in the space provided during the verification process. When all these are complete, a 4-digit pin would be set by you. This pin is important, so type something that you can remember. Without this pin, you can’t carry out transactions.

Congratulations, you now have an account on the luno android app and can choose any wallet of your choice so long it’s crypto.

• Step 2

To receive or send Bitcoin or Bitcoin Cash, an address is required. This address is separate for both and any crypto currency. You can name your crypto currency address for ease of differentiation.

• Step 4

Once your wallet is funded, you can convert the funds, which could be in Bitcoin or Bitcoin Cash to Naira by selling it. For ease of understanding, we will be using Bitcoin Cash (BCH) as our case study.

Enter your BCH wallet, if there are funds in it, click sell. You would be asked which currency you want to sell for? Click NGN. After clicking, you will type your 4 digit PIN to confirm your transaction. When done with this, check your NGN wallet, you should find the money in there. How much you would find is dependent on the current exchange rate for the Nigerian Naira and the Bitcoin Cash and the magnitude of BCH you converted.

• Step 5

Enter your NGN wallet and click withdraw. Fill in the name of the bank and the account you desire to transfer the money in your NGN wallet into, and then type your 4 digit PIN.

Note: A transfer fee of 200 Naira applies per transfer.

Congratulations, you have successfully converted you BCH to Naira.