How to Buy Bitcoin in Ghana with Mobile Money: Easy And Cheap Method

Bitcoin has gained popularity over the last couple of months thanks to its usefulness in everyday life. Primarily, bitcoin was created to ease sending and receiving of money regardless of location. It was designed to be a better alternative to using fiat money because of the many restrictions often encountered while using fiat.

Ghana is one of the African countries where it is projected that bitcoin would make the most impact mainly because it offers a way to send money anywhere in the world and make money. As a result, many others are curious about how to buy bitcoin in Ghana today. 

This article not only learn how to buy bitcoin, but you will also know where to buy it safely and at the best rates.

The State Of Bitcoin In Ghana Today

Bitcoin has greatly impacted over the years of existence and uses in Ghana. For instance, you can now easily send money from Nigeria to Ghana and vice versa. Even though these are neighbouring countries that you could travel to within a few hours, wouldn’t you be shocked if you learnt that it would perhaps cost about as much if you were to send money to Nigeria via wire transfer as it would if you decided to put the money in your bag, took an aeroplane from Accra to Lagos to hand the money over physically?

Okay, that’s a bit of a stretch, but it does get difficult when sending fiat within Africa before Yellow Pay launched. 

However, when bitcoin was created over a decade ago, it was for reasons such as this that it was created. Because with bitcoin, the processes that make sending money expensive and time-consuming are solved with the help of the blockchain.

Thankfully, more people around the world have come to realise the benefits of bitcoin over fiat currencies (a fancy name for paper money), and interest has risen significantly in how to buy bitcoin in Ghana and how to use it in place of the traditional option.

Read Also: Bitcoin soars as cryptocurrency adoption increases

Why Buy Bitcoin In Ghana

Many countries in Africa, including Ghana, are mainly underdeveloped and have poor access to essential financial products and services such as proximity to banks, transfers and other economic benefits. Ghana’s economy is rapidly expanding, and the rising adoption of cryptocurrencies such as bitcoin is set to propel the financial inclusion era in the country. There are numerous reasons why people are increasingly adopting the bitcoin era and still buy bitcoin in Ghana, such as:

1. Easier access to Financial Services:

Although Ghana's economy is growing and new technologies are being implemented to process financial services, some individuals still have problems accessing these services. Bitcoin helps to bridge this gap by making financial services more accessible to the unbanked and underbanked in Ghana. With bitcoin, the steps of opening a bank account, which may require multiple documents and take several days to complete, are abolished. You can buy bitcoin in Ghana in minutes without going through a laborious process.

2. Source Of Livelihood:

During the Covid-19 pandemic lockdown, several people in Ghana were laid off as the country struggled like many others, to regain its balance after the pandemic. Some people were unable to step out to hustle for their living. Bitcoin offered a way out as it provided a means of income. Today, people can earn a profit when they sell or buy bitcoin in Ghana. Crypto exchanges like Yellow Card are at the forefront, making it easy to sell and buy bitcoin in Ghana. You can easily buy bitcoin in Ghana with Ghana Cedis directly from your Yellow Card wallet. That's not all; you can also buy bitcoin with Mobile Money through numerous payment options.

3. Bridging Global Boundaries

Bitcoin allows businesses across Ghana to receive and make payments easily because its lightning-fast network makes it one of the most convenient means to make local and international transfers. As a business owner, you can quickly expand your services internationally without worrying about a payment method or conversion of fiat currencies.  Business owners in Ghana can quickly pay their international suppliers in bitcoin and receive payment likewise from customers in bitcoin.

4. Additional Security for Online Trading

Several scammers and fraudsters are seeking how to defraud you of your hard-earned funds. Bitcoin offers additional safety as its systems cannot be hacked or manipulated easily to defraud you of your funds especially if you’re using Yellow Card to trade. With the security measures and data encryption that a crypto exchange like Yellow Card incorporates into its system, you can rest assured of top-notch security. This is why several people in Ghana have embraced the bitcoin era to secure their funds and transactions using Yellow Card.

Where To Buy Bitcoin In Ghana

Knowing where to buy bitcoin safely in Ghana is important because, with the increase in demand for bitcoin, we have also seen an increase in bitcoin-related scams. So, knowing how to avoid being a victim of a scam is crucial.

One of the easiest ways to buy bitcoin is through cryptocurrency exchanges. And while you will come across many options, as a Ghanaian, your primary focus should be finding a secure platform that offers you the ease of buying bitcoin with cedis.

Leading on that front is our crypto exchange, Yellow Card. Even though you may think that crypto-related things are complicated, Yellow Card ensures that your cryptocurrency dealings are easy, simple and transparent. We make it easy for you to not only buy bitcoin in Ghana with cedis but also how to buy it instantly with mobile money. This means that with any amount you want, you can buy bitcoin to send to someone else anywhere in the world or keep it in your bitcoin wallet as a form of savings or investment.

How to Buy Bitcoin with Mobile Money

To buy bitcoin with mobile money in Ghana, you can easily access the Yellow Card web app from a browser on any device or download the Yellow Card app from the app store or play store. Follow these simple steps to buy bitcoin on Yellow Card:

1. Sign up for a Yellow Card account
   To sign up, you will be required to provide basic information about yourself to register. This usually takes about 3 minutes.
2. Fund your account
   To buy bitcoin in Ghana, you will need to fund your account with GHS. We make this easy with Mobile Money. From your dashboard, tap Deposit and select Mobile Money. Follow the prompts to instantly deposit the amount you want. This will reflect in your account immediately.
3. Buy bitcoin with mobile money
   Select Bitcoin on your dashboard once logged into your account and enter the amount you want to buy in GHS, USD, or bitcoin. Once you confirm the transaction, your bitcoin will be added to your wallet. You can send to other Yellow Card users for free or send to other external wallets. You may also save it securely in your wallet until you need it – the choice is yours!

Read also: Is It Too Late to Buy Bitcoin?

How to withdraw bitcoin to Mobile Money

Using Yellow Card does not only make it easy for you to buy or send bitcoin, but you can also receive, sell and withdraw bitcoin through Mobile Money with ease. That means if your friend or family member or business associate were to send you money in the form of bitcoin, you can easily withdraw it through Mobile Money on Yellow Card. 

Once you have given the sender your bitcoin address and the bitcoin is in your Yellow Card account, here’s how to withdraw it:

1. Log in to your Yellow Card account
2. Select Bitcoin and sell the amount of bitcoin you want to withdraw for GHS. Your fiat balance will reflect the amount you just sold.
3. From your dashboard, select Withdraw and choose Mobile Money.
4. Follow the prompt to withdraw the specific amount you want to your MoMo number.

And voila! You have successfully withdrawn bitcoin through Mobile Money.

Should I Buy Bitcoin In Ghana?

Now that you know where to buy Bitcoin in Ghana, it’s key to access the season ends you intend for this cryptocurrency. 

Bitcoin, like many cryptocurrencies you can buy in Ghana is a volatile asset that fluctuates in value from time to time. Understanding this helps you not call bitcoin a scam when its prices drop. 

If you have a lower risk appetite, it is best to use bitcoin for other payment purposes or invest little when you want to buy bitcoin. On Yellow Card, you can buy bitcoin for any amount. Thus, you can diversify your portfolio and hold multiple cryptocurrencies to help increase your growth potential. 

Bitcoin is making financial inclusion and penetration in Ghana a reality, and you should buy into the new money.

Buy Bitcoin With Mobile Money