Move Bitcoin from Luno to a Nigerian bank account
Your Bitcoin sits in a Luno wallet and you want naira in your bank. You do not need to sell inside Luno. Send the Bitcoin to your Monica address and the naira reaches your Nigerian bank within 60 seconds of the network confirming.
How do you withdraw money from a Luno Bitcoin wallet to a Nigerian bank?
You skip the sell. Open your Bitcoin wallet in Luno, tap Send, choose to send to a Bitcoin address, paste your Monica Bitcoin address, enter the amount and confirm. Luno sends the Bitcoin, the Bitcoin network confirms it, and naira lands in any Nigerian bank on NIBSS within 60 seconds of the network confirming. Monica charges 0% conversion fee and 0% bank withdrawal fee. Bitcoin deposits carry a flat $2 fee; USDT, USDC, ETH, SOL, BNB and TRX deposits are free.
- 0% conversion fee and 0% bank withdrawal fee; a flat $2 deposit fee on Bitcoin only, free deposits on USDT, USDC, ETH, SOL, BNB and TRX
- Naira is paid within 60 seconds of the network confirming
- Minimum deposit is $5 worth of crypto
- Verification on Monica is your NIN plus a selfie, done once in the app before your first payout
Five steps, one screen each
You never type an amount in Monica and there is no sell button. The Bitcoin arrives, the naira goes out. Luno is the app you send from; Monica is the app that pays your bank.
Copy your Monica Bitcoin address
Open the Monica app, tap Bitcoin and copy the address. It is a permanent address, so you can save it in Luno as a saved recipient for next time.
Open your Bitcoin wallet in Luno
In Luno, go to Wallets, open the Bitcoin wallet and tap Send. Choose the option to send to a Bitcoin address, not to a Luno email or phone number.
Paste the address and match the network
Paste your Monica address and check the first and last characters against the app. Your Monica Bitcoin address takes BTC on the Bitcoin network only, so choose the same network in both apps.
Enter the amount and confirm
Type the amount in BTC or naira. Luno shows its own send fee and the amount that will leave your wallet on the same screen. Confirm with your Luno PIN or security code.
Wait for the Bitcoin network to confirm
Luno processes the send, then the Bitcoin network confirms it. There is no sell button to press in Monica. The naira reaches your bank within 60 seconds of the network confirming.
Before you press send in Luno
Which network?
Bitcoin travels on the Bitcoin network, and that is the only network your Monica Bitcoin address accepts. If Luno offers more than one network for a coin, choose the same network in both apps. A coin sent on a network Monica does not show for it cannot be recovered.
What it costs
Luno charges its own send fee, shown on the confirmation screen before you tap send. Monica takes a flat $2 fee on each Bitcoin deposit, then 0% to convert and 0% to pay your bank. The other six coins Monica accepts have free deposits.
Luno withdrawal limit per day
Luno sets a daily send limit by verification level and shows it in the app under your profile; complete more verification in Luno to raise it. On the Monica side a verified account can receive up to ₦50,000,000 per 24 hours by default, so a Luno send inside your Luno limit clears on Monica without a second cap.
Luno withdrawal time
Count three stages. Luno processes the send, sometimes after a short security hold. The Bitcoin network then confirms it, and a new block arrives roughly every ten minutes. Once the network confirms, Monica pays naira within 60 seconds of the network confirming, at any hour, including weekends.
Questions people ask
How do I withdraw Bitcoin from Luno to my bank in Nigeria?
Copy your Bitcoin address from the Monica app. In Luno, open your Bitcoin wallet, tap Send, choose to send to a Bitcoin address, paste the Monica address, enter the amount and confirm. Once the Bitcoin network confirms, Monica pays naira to any Nigerian bank on NIBSS within 60 seconds of the network confirming. You never sell inside Luno.
How long does it take for Bitcoin from Luno to become naira?
There are three stages. Luno processes the send first, which can take a few minutes or longer if Luno holds it for a security check. The Bitcoin network then confirms the transaction, and blocks arrive roughly every ten minutes. Once the network confirms, the naira reaches your bank within 60 seconds of the network confirming.
What does it cost to move Bitcoin from Luno and receive naira?
Two charges. Luno takes its own send fee, which it shows on the confirmation screen before you tap send. On the Monica side Bitcoin deposits carry a flat $2 fee, then 0% conversion fee and 0% bank withdrawal fee. The naira you receive is set by the live rate at the moment the network confirms your deposit.
Where can I check my Luno withdrawal limit?
Open your profile in the Luno app and look for your limits. Luno sets daily and monthly limits by verification level and raises them when you complete more verification, so the figure is personal to your account. On the Monica side a verified account can receive up to ₦50,000,000 per 24 hours by default, and the minimum deposit is $5 worth of crypto.
Can I send USDT from Luno to Monica?
Yes, if your Luno account holds USDT. Open the USDT wallet in Luno, tap Send, paste your Monica USDT address and choose the same network in both apps. USDT deposits on Monica are free, with 0% conversion fee and 0% bank withdrawal fee, and the naira lands in your bank within 60 seconds of the network confirming.
Is Luno legit?
Luno is a crypto exchange that started in South Africa and serves customers in Nigeria and several other countries. Monica does not review or rate other apps. If you hold Bitcoin on Luno and want naira in your Nigerian bank, the route on this page works with any Luno account that can send Bitcoin to an external address.
How do you get your money out of Luno in Nigeria?
You have two routes. One is to sell inside Luno and then withdraw naira from your Luno naira wallet to your bank, on Luno's own timing and fees. The other is to send the Bitcoin itself to your Monica address, skip the sell step, and receive naira in your bank within 60 seconds of the network confirming.
What if I sent on the wrong network or to the wrong address?
Bitcoin sent to your Monica Bitcoin address on the Bitcoin network arrives normally. A coin sent on a network Monica does not list for that coin usually cannot be recovered, which is why the network must match in both apps. If something looks wrong, email [email protected] with the transaction hash from Luno and the time you sent.
Related pages
Move your Luno Bitcoin to naira today
Flat $2 Bitcoin deposit fee, 0% conversion fee, 0% bank withdrawal fee. Naira in your bank within 60 seconds of the network confirming.
0% conversion, 0% withdrawalArrives60safter the network confirms