Cryptocurrency for that matter, Bitcoin is a hot cake in the world of which Ghana is not an exception. In this article, we are going to review how to buy bitcoin in Ghana with Mobile Money.
What is Bitcoin?
Before delving deeper, it will interest you to know what bitcoin is. Bitcoin relies on peer-to-peer innovation and technology to function without a central control, such as the bank or the central bank. It is an open-source thus, nobody claims ownership of innovation of the Crypto technology. It was first discovered in 2008 by faceless groups using the name “Satoshi Nakamoto”.
How to Buy Bitcoin in Ghana
In Africa for that matter Ghana, buying online or exchanging money without faceless individuals is a high risk because of the rate at which scammers are getting smarter every day. That said, we have some tried and tested platforms that are regulated by government bodies you can confidently buy bitcoin from.
Ecurrency4u is one of the most trusted platform to buy bitcoin from. In fact, Ecurrency4u trades most of the major Crypto currencies. The company started operating 2017-02-24 and has since served many clients from Ghana.
Initially, Ecurrency4U’s major trade was just in Perfect Money but later expanded their services to other Crypto currencies. Ecurrency4U is a registered business entity regulated by the Government of Ghana. As at the time of writing this article, Ecurrency4u buys and sells four major Crypto currencies such as Bitcoin, Litecoin, Perfect Money and Ethereum.
How to Buy Bitcoin With Mobile Money
To buy or sell Bitcoin with Mobile Money on Ecurren4u, you need to first create an account on their website: https://ecurrency4u.net/
After Signing up, confirm your email and log to your dashboard. Select the currency you want to buy as illustrated in this Screenshot.
On the next page, enter the amount of bitcoin you want to buy either in dollars and cedis. Select a miner fee to proceed. A miner fee is an amount charged by Crypto exchanger networkers. In the last option, select your payment method. In our case, you need to enter your money number to proceed.
Accept the Terms and Click “Confirm & Buy” to proceed. You are the given a mobile number to send the dollar equivalent to. Proceed and follow the instruction to buy to Bitcoin. In a few times, they will credit your bitcoin to your address.
Unlike Ecurrency4u, Paxful is a marketplace for traders of Crypto currencies, where you can buy bitcoin with Mobile Money from individual Crypto traders. Breaking it down to physical goods, we may say they are the “Tonation” of Crypto.
I never feel comfortable when trading on this platform because when something goes wrong (which I pray never to), it will be difficult to hold someone responsible even though they have a powerful system in place to monitor control fraud.
It’s never a good idea to stick to one Crypto dealer until you have tried and built enough confidence in one. PayPlux pride themselves as one of the oldest in the industry of Crypto exchangers in Ghana. The Crypto company was established over ten years ago and has since been in the business of buying and selling bitcoin and other currencies.
They trade all the major Crypto currencies including Bitcoin, Perfect Money, Litecoin, Ethereum and many more. What I like about this platform is that they are very innovative. PayPlux currently have mobile apps for Android and iOS and a functional website.
To learn more about how to buy and sell Bitcoin on PayPlux, please visit their official website here.
Pursa makes buying and selling Crypto currency more flexible and interesting. Talking of Crypto, they are one of the best places to buy and sell bitcoin instantly in Ghana with AirtelTigo Cash, Bank Transfer, Bitcoin Debit Card, Bitcoin Prepaid Card, Cash and many more. Pursa have a friendly interface which helps even the layperson find his way through buying bitcoin with mobile money.
FREQUENTLY ASKED QUESTIONS
Which site can I sell my Bitcoin in Ghana?
Login to Eccurency4U, choose Sell bitcoin to proceed. The system will guide you to sell your bitcoin with ease.
How much does Bitcoin sell for?
If you purchased $1,000 worth of bitcoin at a price of $1,000 per, you’d have one bitcoin. Unfortunately, Bitcoin is volatile, and the price is difficult to predict.
Is it easy to Cash out Bitcoin?
Yes, it is. All you need is to use one of the method above to get your Bitcoin traded. All the same, you need to be vigilant since anything is possible on the internet.
Introduction of Mobile Money in Ghana, especially MTN Momo, has made life easier for online transaction. You can now perform almost all transactions online. Same transactions were not possible some years back. That said, we recommend that you are careful and do not let anyone outsmart you.
Scammers are equally on the heel of naïve traders. Traders need to be extra vigilant to avoid being scammed. It’s a best practice to buy or sell bitcoin only with businesses that are registered and regulated by the government.