How to Sell Bitcoin on Luno

Selling Bitcoin on Luno is a straightforward process, but it’s important to follow the right steps to ensure a smooth transaction. Luno is a popular cryptocurrency exchange that makes it easy to trade Bitcoin and other digital currencies. In this guide, we’ll walk you through the steps to sell your Bitcoin on Luno, highlighting key points to keep in mind along the way.

1. Sign In to Your Luno Account
   Before you can sell Bitcoin on Luno, you need to have an account with them. If you don’t already have one, you’ll need to sign up and complete the verification process. Once you have an account, log in using your credentials.

2. Deposit Bitcoin into Your Luno Wallet
   If your Bitcoin is not already in your Luno wallet, you need to deposit it. To do this, navigate to the "Wallet" section of your Luno account, find your Bitcoin wallet, and copy the deposit address. Then, send the Bitcoin from your other wallet or exchange to this address. Wait for the transaction to be confirmed on the Bitcoin network.

3. Navigate to the Sell Section
   Once your Bitcoin has been deposited and is showing up in your Luno wallet, go to the "Buy & Sell" section of the platform. Select "Sell" to initiate the process of selling your Bitcoin.

4. Set the Amount to Sell
   In the "Sell" section, you’ll need to specify how much Bitcoin you want to sell. You can choose to sell a specific amount in Bitcoin or in your local currency. Enter the amount and review the details.

5. Choose a Payment Method
   Luno offers several payment methods for withdrawing your funds. These might include bank transfers or other payment options depending on your location. Select the method that suits you best and provide any necessary details to complete the transaction.

6. Review and Confirm the Transaction
   Before finalizing the sale, review the transaction details carefully. Make sure you’re comfortable with the exchange rate, fees, and the amount of Bitcoin you’re selling. Once you’ve confirmed everything is correct, proceed to finalize the transaction.

7. Monitor the Transaction
   After confirming the sale, Luno will process the transaction. You can monitor its status in the "Transaction History" section of your account. The funds will be deposited into your chosen payment method once the transaction is complete.

8. Withdraw Your Funds
   If you selected a bank transfer or another withdrawal method, ensure that you provide the correct banking details. The funds will typically be transferred to your account within a few business days.

9. Keep Track of Fees and Limits
   Be aware that Luno charges fees for selling Bitcoin, and these can vary depending on the transaction size and payment method. Additionally, there might be limits on the amount you can sell or withdraw, so check these limits before making a large transaction.

Conclusion
Selling Bitcoin on Luno is a simple process when you follow these steps. By ensuring that your Bitcoin is deposited, selecting the right payment method, and reviewing all transaction details, you can effectively sell your Bitcoin and receive your funds without hassle. Always stay informed about the latest fees and policies on the platform to make the most of your transactions.