How to Buy Bitcoin in Ghana with Mobile Money

How to Buy Bitcoin in Ghana with Mobile Money

Bitcoin in Ghana has been a trending topic in recent months and this post will help you further understand Bitcoin and how to buy Bitcoin in Ghana. There is much to learn about bitcoin even to those who have heard about it. This article wills more information on how one can buy bitcoin in Ghana.

How to Buy Bitcoin in Ghana with Mobile Money

Before knowing how to buy and sell bitcoin in Ghana you need to know what bitcoin is. Just like Ghanaian Cedi Bitcoin is a currency though it cannot be touched nor seen. Bitcoin is a digital currency, created and stored electronically. Unlike other currency nobody control bitcoin.

Bitcoin was first created in 2009 by an unknown person under name Satoshi Nakamoto, and he released it as open-source software. Though the person who invented the currency is not known everyone is buying bitcoin. This article will, therefore, guide you on how to get bitcoin in Ghana. The first step will involve creating Bitcoin wallet.

Creating your Bitcoin wallet online

Many people are still in dilemma of how they can get bitcoin as they do not have information on where to buy bitcoin in Ghana. There are quite a several ways which one can get bitcoin. The first step you need to do for you to obtain bitcoin is creating Bitcoin wallet.

A bitcoin wallet is where you store your bitcoin. The wallet acts as the bank account, and it is created through online applications. In simple terms, a bitcoin wallet is an application you can download to your phone or computer. Once you have the bitcoin wallet, you can start buying and selling the currency.

READ ALSO: Types of Business Organizations

How to Buy Bitcoin in Ghana with Mobile Money

How to get Bitcoin in Ghana

The first time my friend introduced me to bitcoin this was the first question I asked him. Where can I buy bitcoin in Ghana? Buying and selling bitcoin is very simple. You can use these three ways to get bitcoin:

You can get bitcoin by accepting bitcoin mode of good and service payment though very rare in Ghana.

You can buy and sell bitcoin by exchanging Ghana Cedis in bitcoin and bitcoin in Ghana Cedis. Exchange of bitcoin is very common. This is done through the online platform.

You can buy bitcoin from your friends or individuals who already own bitcoins. This method is very common in Ghana. This is because there is much trust transacting with a friend unlike when you buy bitcoin online in Ghana.

How to Buy Bitcoin in Ghana with Mobile Money

Buying Bitcoins from friends in Ghana is best

Compared to an exchange of bitcoin buying bitcoin from friends is fast. You also spend less compared to using exchange as sellers will mark up their prices compensate their time and service.

The recommended way every time you buy bitcoin in Ghana from an individual is to do face to face business. Go and see his bitcoin wallet before paying the cash.

Bitcoin exchanges in Ghana

As I have started, this is the most common way of obtaining Bitcoin though rarely used in Ghana. Hundreds of online platforms to buy and sell bitcoin in Ghana exist. You only need to register your bank account details to convert bitcoin in Ghana Cedis and Ghana Cedis into bitcoin. However, you need to be very cautious in dealing with the credible exchange, to avoid being scammed. Avoid being a victim.

Bitcoin sellers in Ghana

You can sell bitcoin either from local bitcoin traders or online portal that sells bitcoin.

The best local bitcoin trader is LocalBitcoins.com. The best option for this method is you can buy bitcoin in Ghana with mobile money. It is also possible to buy bitcoin there.

You can also sell bitcoin using online portals, where they send you money through platforms like PayPal, perfect money Payoneer and others.

READ ALSO: Business Registration in Ghana

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Source: Yen.com.gh

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