Alright...
But these are some of the challenges I saw coming.
This is $100 conversion to bitcoin at luno.
I could get 0.02136btc for 100sbd
0.02136btc is 31,135naira
Assuming i was going to make this particular trade for someone I would be running at a huge loss even when Im buying @330
You see now sir. That I am not a rip off. Trying to do this exchange was indeed an act of charity.
Now I have not included any charges into this but luno is already telling me that to break even my rate must be lower than 311 naira per dollar.
I get your point now bro, sorry for the Rip-Off language.
From what i see, Remitano is about 30k, that's 1k short of Luno so go ahead with luno.
My take is, have a fixed rate charges e.g say 3k for any 100SBD and increase it like that. Reason is, the person you are converting for should bear all cost of transactions not you...with that it is a win-win and you know that no matter what the network fee and transaction fee is, you still get your own transaction charges.
One love bro...
Thanks for your contribution.
I think we can come together as a Nigerian community and figure out a way to go around these fees.
Honestly I dont feel like doing any conversions for anyone now that I see that I would be running at a loss
I missed this discussion. But never too late. I use luno. I have account with remitano and localbitcoin. However i have only transacted with luno. The last time i did the transaction with luno was in march or so. What i do now is to sell to indivudual on telegram. At least this is more profitable as well as safe. As at time of writing this the rate on telegram for btc is 340-345/ $. That's more better than ridiculous price from luno.