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How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency - Business - Nairaland

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How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by definitelyCYRIL(m): 9:15am On Feb 06, 2021
Hello nairalanders. I know a lot of persons are seriously pissed off by the new policy implemented by the C.B.N regarding cryptocurrency exchange,and alot of people are rushing to withdraw their naira from binance and co..

Well for those that make use of luno for crypto trading, I think i just discovered a way that make luno invincible to this useless and totally backward policy.

People that are familiar with the use of luno will know that luno offers a variety of deposit options.. it's either you buy the desired cryptocurrency directly from your bank(which will make you eligible for blocking) or you deposit into the naira account provided by luno.

for those that are not familiar with luno,the naira account that luno provides, is like an online naira bank account that accepts deposits in naira and still stores it in naira until you are ready to buy any crypto of your choice(from the luno naira account, and not your main naira account)


Even if you want to withdraw your cash... You can
choose to convert any crypto you want to sell into naira and store on the luno naira account, before you transfer to your main naira account...

What do you guys think??

4 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by blackpanthar: 9:31am On Feb 06, 2021
definitelyCYRIL:
Hello nairalanders. I know a lot of persons are seriously pissed off by the new policy implemented by the C.B.N regarding cryptocurrency exchange,and alot of people are rushing to withdraw their naira from binance and co..

Well for those that make use of luno for crypto trading, I think i just discovered a way that make luno invincible to this useless and totally backward policy.

People that are familiar with the use of luno will know that luno offers a variety of deposit options.. it's either you buy the desired cryptocurrency directly from your bank(which will make you eligible for blocking) or you deposit into the naira account provided by luno.

for those that are not familiar with luno,the naira account that luno provides, is like an online naira bank account that accepts deposits in naira and still stores it in naira until you are ready to buy any crypto of your choice(from the luno naira account, and not your main naira account)


Even if you want to withdraw your cash... You can
choose to convert any crypto you want to sell into naira and store on the luno naira account, before you transfer to your main naira account...

What do you guys think??



Bros it's like you dont know that naija banks have forsaken LUNO since last month

2 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by GamalNasser: 9:32am On Feb 06, 2021
So how are you going to get money from your bank account into your luno account in the first place ?

4 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by definitelyCYRIL(m): 9:34am On Feb 06, 2021
GamalNasser:
So how are you going to get money from your bank account into your luno account in the first place ?
you transfer from your main naira bank account to your luno naira account..then buy cryptocurrency with your luno naira account.

2 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by 151487made(m): 9:37am On Feb 06, 2021
E go shock una! U beta move ur money now. Naija government no how to scatter person plan ooo.

4 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by Emary(f): 9:40am On Feb 06, 2021
definitelyCYRIL:
you transfer from your main naira bank account to your luno naira account..then buy cryptocurrency with your luno naira account.

That option is blocked on Luno, Binance and other platforms. Your best option is P2P.

4 Likes 2 Shares

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by GamalNasser: 9:44am On Feb 06, 2021
definitelyCYRIL:
you transfer from your main naira bank account to your luno naira account..then buy cryptocurrency with your luno naira account.

The banks have been mandated to cut support for any app that trades bitcoin so I dont think they will allow you to fund the Luno naira wallet from any bank account by next week

3 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by definitelyCYRIL(m): 9:49am On Feb 06, 2021
Emary:


That option is blocked on Luno, Binance and other platforms. Your best option is P2P.
bro blocked what? Me that just updated my luno app this morning, and it's still alive and well..

2 Likes

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by Comedian2019: 9:57am On Feb 06, 2021
definitelyCYRIL:
Hello nairalanders. I know a lot of persons are seriously pissed off by the new policy implemented by the C.B.N regarding cryptocurrency exchange,and alot of people are rushing to withdraw their naira from binance and co..

Well for those that make use of luno for crypto trading, I think i just discovered a way that make luno invincible to this useless and totally backward policy.

People that are familiar with the use of luno will know that luno offers a variety of deposit options.. it's either you buy the desired cryptocurrency directly from your bank(which will make you eligible for blocking) or you deposit into the naira account provided by luno.

for those that are not familiar with luno,the naira account that luno provides, is like an online naira bank account that accepts deposits in naira and still stores it in naira until you are ready to buy any crypto of your choice(from the luno naira account, and not your main naira account)


Even if you want to withdraw your cash... You can
choose to convert any crypto you want to sell into naira and store on the luno naira account, before you transfer to your main naira account...

What do you guys think??


You better withdraw your naira NOW.
Don't mislead people.

1 Like

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by Emary(f): 10:02am On Feb 06, 2021
definitelyCYRIL:
bro blocked what? Me that just updated my luno app this morning, and it's still alive and well..

Just tried it now.

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by EzeYezzuz: 10:06am On Feb 06, 2021
Beware!!! Luno is asking for #NIN, if you’re one of us the stubborn ones and you don’t have your #NIN yet, better don’t use it! You won’t be able to withdraw after your make a deposit or receive btc.

1 Like

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by IduNaOba: 10:09am On Feb 06, 2021
We can still beat this trough a long process but those mad guys fit dey gere dey read so....
Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by johnmartus(m): 10:11am On Feb 06, 2021
Use vpn
Emary:


Just tried it now.
Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by paddyDIGITAL(m): 10:19am On Feb 06, 2021
This matter is a serious one, and needs urgent solution.
Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by souzadchef(m): 10:22am On Feb 06, 2021
Peer to Peer transactions.
That's the answer
Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by viczo(m): 12:35pm On Feb 06, 2021
p2p would be d only option but also scammer heaven

1 Like

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by H2ho(m): 3:12pm On Feb 06, 2021
johnmartus:
Use vpn
Worked grin
Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by ruggedtimi(m): 4:08pm On Feb 06, 2021
definitelyCYRIL:
you transfer from your main naira bank account to your luno naira account..then buy cryptocurrency with your luno naira account.
being using luno for four years...I think they work with the government

1 Like

Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by AlphaSoul: 11:10am On Feb 23, 2021
Emary:


That option is blocked on Luno, Binance and other platforms. Your best option is P2P.
+1
Re: How Luno App Can Be Used To Evade New Cbn Policy On Cryptocurrency by sharone21(f): 1:24pm On Feb 27, 2021
Luno is S-C-A-M --BEWARE. Since they have been making money from Nigerians which small give back game/promo have they done for Nigerians but they can hoard your hard earned money even if u have no business with bitcoin.
Peer to Peer at your own risk with no one to listen to you if your money goes.
In no fit trade stocks. Online stock trading in Nigeria is growing eg meristem.
Why do you like anonymous crypto that tracing fraudsters will be hard ....Nigerians must get sense by force

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