It’s almost new year and as part of your resolution, you might want to change your investment portfolio to include cryptocurrencies such as Bitcoin. Buying Bitcoin in Ghana can be very hectic due to the undeveloped ecosystem we find ourselves in. In this article, we solve that problem by providing a step by step guide on how to buy Bitcoin in Ghana.
Buying Bitcoin basically means, purchasing a whole or part of the digital currency equivalent to the Ghana Cedi. Most people have a misconception that you can only buy 1 whole Bitcoin, making it hard for new investors considering the price. A bitcoin can be divided down to 8 decimal places. Therefore, 0.00000001 BTC is the smallest amount of BTC.
This means you can buy any amount of BTC as you will get the exact same value in BTC based on the value of the currency used in making the purchase. For instance, if you purchase GHC 100 worth of BTC at the current price of 1 BTC at GHC 18, 246.59 you will receive 0.0055 BTC.
What Do I Need Before I Buy BTC?
In order to store the Bitcoin you are about to buy, you will need to have a Bitcoin wallet. A cryptocurrency wallet is mostly free software that allows you to keep, spend and receive your digital assets. For the purpose of this article, I will recommend Jaxx Wallet which has Android and iOS versions and Blockchain Wallet which is web-based.
Now that you have a wallet to store your coins you are set to buy your first Bitcoin.
Where do I Buy?
There are several sites in Ghana where you can buy Bitcoin but some are proven scams. In this article, I will highlight two of these sites that I have personally tried and can vouch for. Remember any loss of funds during this process is not the fault of the writer of this article or this blog as this should not be considered as financial advice.
- Bush Communications
BushCom Financials provides a very easy way of buying Bitcoin. You first have to create an account and then visit their exchange interface to start your purchase. You then have to select a method of payment for which you can sect between several options including, Paypal, PerfectMoney, AirtelTigo Cash, MTN Mobile Money, Vodafone Cash and bank wire transfer via Ecobank, Carl Bank, Access Bank, and Fidelity Bank. After this, you will have to enter your Bitcoin address from your wallet, follow the prompts and you will receive your coins.
2. Remitano GH
Another great way to buy Bitcoin in Ghana, Remitano is an escrowed P2P Bitcoin marketplace where people buy and sell Bitcoin easily and safely with notable simple UI, friendly online customer support 24/7 and lowest fee compared with major players on the market.
Now based on this guide you can purchase Bitcoin in Ghana.
This was a guest post by Elisha Owusu, Senior Editor at Cryptocurrency Blog – CoinNewsLive.