Have you heard of Bitcoin in Ghana? I’m sure you have. If not, try to read this piece of article. Even if you know about Bitcoins, there are more to learn here. This article includes but not limited to the sale, exchange, and prices, security, and the future of Bitcoin in Ghana, and the world at large.
What is Bitcoin?
Bitcoin is a currency, just like our Ghanaian Cedi. But it cannot be touched. It is digital. Let us look at it this way: Let’s say you can use your Facebook likes to buy items online. That is how bitcoin works. You have it online; the more you have, the richer you become.
It was created in 2009. The person who created bitcoin is unknown. That is what they claim. And we wonder how it has been so popular, and almost everyone is buying into it. that is what motivated us to put this article together.
Knowing Bitcoin and how it works helps you to make a wiser decision whether to invest in it or not.
The founder of Bitcoin has been given the name or alias Satoshi Nakamoto. Since this currency is digital, you cannot save it in bank accounts. You can imagine how banks are going to be when it is fully operational.
Though it has been perceived by most experts to become the future of trading, we at Website Ghana think it is not going to take away our physical currencies. Probably not anytime soon. This is from a few analysis we have done.
What we see cryptocurrencies becoming are like mineral resources. Just like we trade Gold, Diamonds, and other minerals independent of money, that is what we foresee them becoming.
I think I mentioned Cryptocurrencies late. You may be wondering: What are Cryptocurrencies? They are digital currencies, just like Bitcoin. Other examples of Cryptocurrencies that are trending currently apart from Bitcoin (BTC) are Litecoin (LTC), and Ethereum (ETC), among others.
How to Buy Bitcoin in Ghana
If Bitcoin still looks weird to you, but don’t want to be left unawares, just assume you are investing your money in Gold, or Diamonds, and hoping that the price increases for you to get richer.
In this article, I would show you how to buy bitcoins in Ghana. there are different ways you can buy bitcoins in Ghana. It could be by:
- Buying from your friends or people who already own Bitcoins: This is most common in Ghana because, after all, you trust your friend better than a website.
- Buying from Bitcoin Exchange sites: There are a lot of Bitcoin exchange sites. We will discuss more of that below.
- Mining Bitcoins: This isn’t simple but simply means solving complex mathematical problems. If you win, you get Bitcoins. I am not going to talk more about this method now (maybe in our future posts). Read more here: How much money can you make from mining bitcoins?
Bitcoin Rate/ Price in Ghana
Bitcoin in Ghana Cedis
As at the time of writing this article, the above picture showed the bitcoin rate in Ghana Cedis. This is one reason why most people are now venturing into Bitcoin as a means of making money online.
Exchange Bitcoin in Ghana
It’s great to know that one of the easiest ways to earn bitcoin in Ghana is to exchange them.Probably the only way to do this exchange is to know someone who already trades in Bitcoin.
So, let’s check out in the next sub heading some bitcoin sellers in Ghana. Actually, bitcoin exchange is almost like batter system of trading. You could exchange bitcoins with anything, even shoes.
It’s a currency; a medium of exchange. The name explains itself.
Bitcoin Sellers in Ghana
There are two places to buy bitcoins in Ghana. It’s either from
- an online portal that trades it, or
- local bitcoin traders.
For online portals, we found this site that does that. We haven’t tried it yet. We can’t assure you of how authentic it is – CBTekGhana.com. They also deal with Perfect Money, PayPal, among others.
For local bitcoin traders, your best go to place for bitcoins is LocalBitcoins.com. The good thing about this option is that, you can buy with Mobile Money. You can also sell your own bitcoins there. Since there are not much people who trade bitcoins, it is a great place to identify yourself as a trader.
What Does it take to Buy Bitcoins?
You don’t just start by buying or selling bitcoins in Ghana, just like any other country.
Just like you need a wallet, or banking account to keep your money, you need a digital wallet to keep your digital currency, also known as a virtual currency.
The best and most trusted place to get a bitcoin wallet is Blockchain.info. The site has a great user interface for managing your bitcoins. The screenshot below shows how the wallet looks like:
The Future of Bitcoin in Ghana
Bitcoin has been a very controversial topic these days. The uncertainty of it becoming a globally accepted currency or not alone is what makes it more controversial. No one knows how the future is going to be with cryptocurrencies.
And as a business minded person, this is a security issue. Why because, you don’t expect to wake up one morning, and then hear that the newly accepted currency is bitcoin when you actually have none. At least, having a fair idea may help you not to be taken by surprise.
Recently, there was an event at iSpace in Accra, which I took part. There were a lot that was discussed. There was a very hot debate whether cryptos have a future or not. The answer still hasn’t been found yet. But then, I think this article will get you prepared, just in case you have to take a decision of getting on board.
Please let the discussion continue below (in the comment box). I have spoken a lot. It’s now your turn to speak your mind. Your input is much needed. Thank you for your time.