How to Sell Your Bitcoin on Luno

Selling Bitcoin on Luno is a straightforward process designed for ease and efficiency. Here's a detailed guide to help you through each step of the selling process.

Step 1: Sign In to Your Luno Account
To begin, you need to log in to your Luno account. Open the Luno app or website and enter your credentials. If you don’t have an account yet, you’ll need to sign up and complete the verification process before you can start trading.

Step 2: Navigate to the Sell Section
Once logged in, navigate to the “Buy/Sell” section of the platform. You will find this option on the main menu. Click on it to open the trading interface.

Step 3: Choose Bitcoin and Set Up Your Sell Order
In the trading interface, select Bitcoin (BTC) as the cryptocurrency you wish to sell. You’ll see options to either sell at the current market price or set a custom price. Choose the option that best suits your needs:

• Market Price: If you want to sell quickly, select the market price option. Luno will automatically execute the sale at the best available price.
• Custom Price: If you prefer to set a specific price, select this option and enter your desired price. Your order will be placed as a limit order and executed when the market reaches your price.

Step 4: Enter the Amount to Sell
Specify the amount of Bitcoin you want to sell. You can enter the amount in BTC or in your local currency. Luno will provide you with a preview of the transaction, including any fees that may apply.

Step 5: Review and Confirm the Transaction
Carefully review the details of your transaction, including the amount, price, and any applicable fees. Ensure everything is correct before confirming the sale. Once you are satisfied, click on the “Sell” button to complete the transaction.

Step 6: Check Your Account Balance
After the sale is complete, check your account balance to confirm that the transaction was successful. The proceeds from the sale will be credited to your Luno wallet in your local currency.

Step 7: Withdraw Funds (Optional)
If you wish to withdraw the funds to your bank account, go to the “Wallet” section of the app. Select the currency you wish to withdraw and follow the instructions to transfer the funds to your bank account. Ensure that you have linked your bank account and completed any necessary verification steps.

Additional Tips

• Fees: Be aware of the transaction fees associated with selling Bitcoin on Luno. These fees can vary depending on the transaction size and market conditions.
• Security: Always use strong security practices, such as enabling two-factor authentication (2FA), to protect your Luno account.
• Market Conditions: Monitor market conditions regularly if you are setting a custom price. Cryptocurrency markets can be volatile, and prices can change rapidly.

Conclusion
Selling Bitcoin on Luno is a user-friendly process designed to cater to both beginners and experienced traders. By following these steps, you can effectively manage your Bitcoin sales and ensure a smooth transaction experience.