How to Sell BTC on Luno

Selling Bitcoin (BTC) on Luno is a straightforward process that can be completed in a few simple steps. Luno is a popular cryptocurrency exchange that allows users to buy, sell, and store Bitcoin and other digital currencies. Here’s a comprehensive guide to help you sell BTC on Luno:

1. Create and Verify Your Account
Before you can sell BTC, you need to have a Luno account. If you don't have one, follow these steps:

• Sign Up: Go to the Luno website or app and sign up with your email address or mobile number.
• Verify Your Identity: Luno requires you to verify your identity to comply with financial regulations. This typically involves uploading a photo ID and a proof of address. Follow the instructions on the platform to complete this step.

2. Deposit BTC into Your Luno Wallet
To sell Bitcoin, you must first deposit it into your Luno wallet:

• Go to Wallet: Log in to your Luno account and navigate to the "Wallet" section.
• Select Bitcoin: Choose Bitcoin from the list of cryptocurrencies in your wallet.
• Deposit BTC: Click on the "Deposit" button to get your BTC deposit address. Transfer your BTC from your external wallet to this address.

3. Navigate to the Sell Section
Once your BTC is in your Luno wallet, you can proceed with selling:

• Go to the Sell Tab: Find and click on the "Sell" tab in the app or on the website.
• Choose Amount: Enter the amount of BTC you wish to sell. You can specify the amount in BTC or the equivalent in your local currency.

4. Confirm Sale Details
Before finalizing your sale, review the details:

• Review Price: Check the current price at which your BTC will be sold. Luno will show you the amount you will receive in your local currency.
• Confirm Sale: If everything looks correct, confirm the sale. This step might include a confirmation prompt to ensure that you want to proceed with the transaction.

5. Complete the Transaction
After confirming, Luno will process your sale:

• Receive Funds: The proceeds from the sale will be deposited into your Luno wallet in your local currency.
• Withdrawal: If you want to withdraw the funds to your bank account, go to the "Withdraw" section and follow the instructions to transfer the money.

Tips for Selling BTC on Luno

• Check Fees: Be aware of any fees associated with selling BTC on Luno. These fees can vary based on the transaction amount and market conditions.
• Monitor Market Trends: Keep an eye on Bitcoin market trends to ensure you sell at a favorable price. Use Luno’s tools and charts to track market movements.
• Security Measures: Ensure your account is secured with two-factor authentication (2FA) to protect against unauthorized access.

Troubleshooting Common Issues

• Transaction Delays: Sometimes, there may be delays in processing transactions. If your BTC deposit or sale is taking longer than expected, check Luno’s status updates or contact their support team.
• Incorrect Amount: Double-check the amount of BTC you are selling and ensure it matches what you intend to sell.

By following these steps, you can easily sell BTC on Luno and manage your cryptocurrency transactions effectively.