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There is no other convenient way to purchase bitcoin and ethereum than using your debit or credit card.
In this guide, we’ll show you the step by step guide on how to buy bitcoin, ethereum on luno with your credit or debit card in Nigeria and other countries where luno is supported.
This guide is divided into four parts:
- How to setup luno account
- How to Add Bitcoin Wallet To Your Account
- How to verify your identity on luno
- How to Add Bitcoin Wallet To Your Account
PART 1: How to setup luno account
Step 1: If you’re just coming into cryptocurrency investment, then you’d need to sign up for luno account at luno.com
Step 2: Enter your email address and password. Choose a strong password that has a combination of upper and lower case, and signs highly recommended.
Step 3: Login to your email to confirm it
Step 4: You’d need to set up your personal details. Click on “SETTINGS”
Step 5: Verify your phone number, a verification code would be sent to you, enter it and submit it. Alternatively, you can opt for Call Me option.
Step 6: Move back to the personal details, click on upgrade. On this step, your Bank Verification Number (BVN for Nigeria) would be required. The process might be different in your country.
Step 7: This stage isn’t a must if you know your transaction won’t be more than N200, 000 in Nigeria.
But if you’re planning on transacting bigger amount soonest, it’s better to upgrade to level 2. This requires you to submit a photo/scan of government ID.
PART 2: How to verify your identity on luno? (For Nigerian users):
Make sure to use your name as it appears on your bank and BVN.
If the name you enter doesn’t match with your BVN, your account won’t be verified
Your level would be set at Level 0 if you failed to verify your identity. That means you won’t be able to perform anything on the luno platform.
If you complete the first upgrade luno sends you update on your dashboard thus:
“You have been upgraded to level 1.
You can now deposit money into your Luno wallet and buy Bitcoin!
The following limits apply to level 1.
Deposits over all time: NGN 200,000.00
Withdrawals over all time: NGN 200,000.00
We will let you know when you are close to your limits.”
PART 3: How to Add Bitcoin Wallet To Your Luno Account
- Step 1: Click on Add Wallet, you might be prompted to automatically add Ethereum wallet don’t worry, go ahead to add it.
You can then go back to click on Wallet in your dashboard, which now displays three options: BTC Wallet, ETH Wallet and NGN Wallet.
- Step 2: Click on BTC logo to get Bitcoin Wallet: Transactions, Addresses. Choose addresses
- Step 3: Click on create bitcoin address.
If you like you can name your address because you have the opportunity to generate different btc address for different transaction.
It’s time to fund your ethereum or bitcoin wallet using your debit/credit card.
Click on wallet again, under the BTC or Ethereum logo (depending on the currency you want to invest in) choose buy to make a deposit. This takes us to the next part…
PART 4: How to Buy Bitcoin on Luno Using your Credit or Debit Card
The next step is to buy bitcoin with your debit or credit card and how to generate your BTC or Ethereum Wallet on luno.
- Step 1: Click on “Home” Please make sure your local bank account has been funded before you proceed to the steps below.
- Step 2: Click on buy bitcoin or buy ethereum.
- Clicking on this will require you to deposit money, so click on deposit money, which enables you buy from your bank in Nigeria and other countries where luno services are available.
- Step 3: Click on Debit or Credit Card with PayU
- Step 4: Enter the amount you want to deposit and hit next. You can buy as low as N300 worth of bitcoin or ethereum.
- Step 5: To continue click on “Continue with PayU.” Enter your debit or credit card information. Small charges apply while funding your wallet via PayU, but the fee is fair to be honest with you.
- Step 6: This next step requires you to complete your online transactions either by receiving OTP via the phone number linked to your bank account, or using your Banking Hardware Token.
Choose the method you wish to receive the OTP for this transaction and click submit
Receive OTP (via registered phone number/email)
GTBank Hardware Token
Please check this box to indicate that you have read and agreed with the information listed above
*Please note that OTP is only valid for one transaction, if you want to carry out another transaction, you will be required to generate another OTP.
If you don’t have the hardware, tick the option “Receive OTP via Phone Number.” Don’t forget to tick the terms and conditions box to receive the code.
- Step 7: Enter the code and submit, less than five seconds your luno wallet account would be credited.
Through your luno wallet you can specify the amount of bitcoin you want to buy. Completing this task, your BTC wallet would show your BTC or ETH balance.
If you encounter any problem buying BTC and ETH with your debit card, contact luno support fo help.