Bitcoin and cryptocurrencies in general, have become one of the most talked-about financial topics with a growing number of Ghanaians developing a belly for such investments. Many people have also made significant profits by trading Bitcoin, therefore understanding ways to buy Bitcoin and sell Bitcoin both locally and seamlessly using mobile money has become the icing on the cake if an exchange provides that.
In the post, we would demonstrate the various procedures you can use to buy and sell bitcoin in Ghana via mobile money ( MTN Mobile Money, Vodafone Cash, and AirtelTigoCash.)
What is the best way to buy bitcoin with mobile money?
Now before one buys bitcoin or any other cryptocurrency, it’s important to do your research and understand the risks involved. Some things one would need to research are on when buying Bitcoin or other cryptocurrencies is the exchange provider; it’s important to choose a reputable exchange with a strong track record of security and reliability. Always look for exchanges that are registered with regulatory authorities and have strong user reviews before committing to purchase.
Now in Ghana, there is various form of buying and selling bitcoin either through Peer-to-Peer trading(P2P), Over the Counter (OTC) for both BTC & USDT (Tether), or exchange Gift Cards. Various cryptocurrencies platform in Ghana has also enabled these options where you can do this via mobile money as a payment method.
To buy Bitcoin in Ghana using mobile money, one would need to follow these steps:
- First of all, choose a reputable cryptocurrency exchange that accepts mobile money payments. One such popular and possible option in Ghana is the Mybitstore app.
- Create an account on the chosen exchange and complete the necessary verification process.
- Navigate to the “Buy Bitcoin” section of the exchange’s website or mobile app and select mobile money as the payment method.
- Enter the amount of Bitcoin you want to purchase and follow the prompts to complete the transaction.
- Once your mobile money payment is confirmed, the Bitcoin will be transferred to your wallet on the exchange.
It’s important to note that cryptocurrency prices can be highly volatile, so it’s important to do your research and only invest what you can afford to lose. Additionally, it’s important to store your Bitcoin securely in a digital wallet to protect your investment.
Here are the steps to setting up mobile money BTC payment via Mybistore
You can access the trading service on app.mybitstore.com but for the purpose of this article, we will use the app version.
After signing up on Mybitstore, you may use these instructions to either buy Bitcoin or sell your Bitcoin.
How to buy Bitcoin Directly With Mybitstore
- First click on the ‘Buy/Sell button
- At Buy/Sell, select the option to TRADE DIRECTLY WITH MYBITSTORE
- Select BITCOIN from the ensuing pop-up
- Choose to buy bitcoin
- If you are buying, enter the amount and click on the preview button for your transaction summary
- Click on the start to buy button to initiate the trading of bitcoin using your preferred mobile money vendor either MTN or Vodafone
- Once a trade is initiated follow the instructions in the trade chat to complete the process
The combination of cryptos and mobile money means a combination of two very convenient and affordable means of sending and receiving money. This convenience is the reason you should try the Mybitstore app now.
Users also have the option to sell Bitcoin to Mybitstore. This process is simple and can be followed by going through the following steps.
HOW TO SELL BITCOIN DIRECTLY TO MYBITSTORE
- First click on the ‘Buy/Sell’ button
- At Buy/Sell, select the option to TRADE DIRECTLY WITH MYBITSTORE
- Select BITCOIN from the ensuing pop-up
- Choose to buy bitcoin
- If you are selling, enter the amount and click on the preview Sell Trade button for your transaction summary
- Click on the START SELL TRADE Button to initiate the trade
