How to buy bitcoin in Ghana with mobile money
Choosing a platform
Bitcoin and other cryptocurrencies have become a hot topic in the financial world, and Ghanaians are no exception. More and more people are showing an interest in investing in these digital assets, and some have even made substantial profits through trading Bitcoin. That's why it's crucial to understand how to buy and sell Bitcoin seamlessly using mobile money, which is the icing on the cake if an exchange provides that service.
When it comes to cryptocurrency trading, choosing the right platform is crucial. There are two types of platforms available: traditional exchanges and peer-to-peer (P2P) marketplaces. Traditional exchanges have been around for a while and act as a middleman between buyers and sellers. They use an order book to match trades and facilitate the safe transfer of crypto or fiat currency. However, this convenience comes at a cost, with some platforms charging up to 6% on each purchase.
P2P marketplaces, on the other hand, allow buyers and sellers to transact directly, without the need for a third party. They also use order books to match trades, but only intervene in the case of a dispute. P2P platforms often use escrow services and additional security measures to ensure the safety of traders. Fees on P2P platforms vary depending on the vendor, payment method, and platform itself. For example, c-Exchange charges no fees to buyers, but sellers are charged a small fee.
When choosing a trading platform, it's important to consider your trading style and the fees associated with each platform. Traditional exchanges may be more convenient, but P2P platforms offer more flexibility and lower fees. Ultimately, the choice is yours.
In this post, we'll show you the step-by-step procedures for buying and selling Bitcoin in Ghana using popular mobile money services like MTN Mobile Money, Vodafone Cash, and AirtelTigoCash. With these simple instructions, you'll be able to navigate the world of cryptocurrency with ease and confidence.
The best way to buy bitcoin with mobile money?
If you're looking to purchase Bitcoin in Ghana using mobile money, there are a few simple steps you'll need to follow. Here's a quick rundown:
1. First, ensure that you have a mobile money account set up with a reputable provider in Ghana. This will typically involve registering your phone number and providing some basic personal information.
2. Next, find a reputable Bitcoin exchange or broker that accepts mobile money payments. You can do this by conducting some online research or recommending c-Exchange for you.
3. Once you've found a suitable exchange or broker, create an account and verify your identity as required. This may involve providing some additional personal information and documentation.
4. Once your account is set up and verified, you can fund it using your mobile money account. Simply follow the instructions provided.
5. Finally, Navigate to the “Buy Bitcoin” section of the exchange’s website or mobile app and select mobile money as the payment method.
6. Enter the amount of Bitcoin you want to purchase and follow the prompts to complete the transaction.
7. Once your mobile money payment is confirmed, the Bitcoin will be transferred to your wallet on the exchange.
By following these steps, you can easily and securely buy Bitcoin using mobile money in Ghana. You can access the trading service on c-Exchange.com but for the purpose of this article, we will use the app version. After signing up on c-Exchange, you may use these instructions to either buy Bitcoin or sell your Bitcoin.
How to buy Bitcoin Directly With c-Exchange:
Step 1: Download the c-Exchange App here.
Step 2: First click on the ‘Buy button
Step 3: Select BTC from the top right and tap on your preferred payment method.
Step 4: Enter the amount of Bitcoin you wish to purchase, provide a message for the seller, and click the Send Trade Request button to initiate the trade. Before clicking the Buy button, review the advertisement's terms of the trade to ensure you are ready to pay. If payment is not made before the payment window closes, the trade will be automatically canceled.
Step 5: follow the instructions to make a payment you can also click on the trade chat to communicate with the seller. Once you have made the payment, click the I have paid button. The seller will then verify that your payment has been received and your Bitcoin will be released from escrow and instantly available in your c-Exchange wallet.
Step 6: To initiate a withdrawal, click on Wallet and then click on Withdraw to initiate the process.
In addition to its user-friendly interface, c-Exchange also offers the option to sell Bitcoin directly to the platform. The process is straightforward and can be completed in just a few simple steps, you must first deposit it into your c-Exchange wallet.
Here's how to sell Bitcoin directly to c-Exchange:
1. Click on the 'Sell' button.
2. Select BTC from the top right and tap on your preferred payment method.
3. Enter the amount of Bitcoin you wish to sell, provide your payment details or a message for the buyer, and click the 'Send Trade Request' button.
4. Wait for the buyer to pay. After you have sent the trade request, the buyer will ask you for your payment information (e.g. if you are selling for a bank transfer, the buyer will need your bank account details). Once you have provided the buyer with the payment information, they will pay for the Bitcoin and confirm the transaction with you. Make sure to check that the money has been received in your account before you click 'Release'. NEVER release the Bitcoin before you have received payment. Once you have confirmed that the payment has been made, you can scroll down the page and click 'Release. This will transfer the Bitcoin from the trade escrow to the buyer, thus completing the trade. As soon as you initiate the trade, the Bitcoin will be moved from your wallet to the trade escrow.
With c-Exchange, you can rest assured that your transactions are secure and hassle-free. So why wait? Try c-Exchange today and experience the future of finance!