How to Buy Bitcoin in Ghana – A Beginner’s Guide

Bitcoin and the rise of blockchain technology have been nothing short of a technological revolution in the last decade. While the digital assets industry has accumulated a market cap of $2 trillion, BTC accounts for 40% of this value. 

Proving itself to be a global currency, BTC is being bought by millions worldwide. In this guide, we explain how to buy Bitcoin in Ghana. We will also provide you with valuable information on where to buy Bitcoin in Ghana.

Cryptoassets are a highly volatile unregulated investment product. 

Where to Buy Bitcoin in Ghana

Since a few popular cryptocurrency exchanges are not available in Ghana, you need to identify the best platforms from where to buy Bitcoin in Ghana. 

After navigating each platform based on their rates, regulation standards and added features, here are the best cryptocurrency exchanges to invest in Bitcoin in Ghana. 

1. Capital.com – Best Platform to Buy Bitcoin in Ghana

Launched in 2016, Capital.com is a global trading platform that offers crypto & stock trading options in Ghana.

The platform is notable for its zero-commission trading fees on BTC, including withdrawals, deposits, and trading. Instead, the exchange takes a low spread fee – by charging the difference between the live buy and sell options for BTC. 

Capital.com is also a CFD (Contracts for Differences) broker, which means that you do not have to own the underlying asset directly. You can trade on the price movement of any cryptocurrency. This allows users to trade in BTC and other cryptocurrencies without any ownership.

You can begin trading in BTC in Ghana, with a minimum deposit of $20 or 150 Ghanian Cedi. After researching the platform, we found out that Capital.com offers 24/7 customer support. You are appointed your individual dedicated account manager, who works around the clock to respond to all your queries. 

Based in the UK, Capital.com is regulated by 4 global regulatory bodies. These include the FCA, ASIC, CySec and the National Bank of the Republic of Belarus. In Ghana, cryptocurrencies, including Bitcoin, are not regulated or considered legal tender. However, it is entirely legal to buy BTC or other cryptocurrencies in Ghana. 

Being a CFD broker and providing users with commission-free trading options, we recommend Capital.com as the best platform to buy Bitcoin in Ghana.

Cryptoassets are a highly volatile unregulated investment product.

2. Crypto.com – Cryptocurrency Platform for trading pairs

Crypto.com is one of the biggest cryptocurrency exchanges that allows users to invest in Bitcoin in Ghana.

Launched in 2019, Crypto.com offers trading pairs with more than 100 cryptocurrencies. This allows you to buy BTC with your existing crypto holdings itself.

The exchange charges no fees on deposits and provides competitive rates on payments. Crypto.com offers a fixed maker and taker fee of 0.4% on all trading volumes under $25,000 or 1,87,500 Ghanian Cedi. 

Crypto.com also provides you with additional features such as staking options. You can stake your BTC on the mobile app or the website and earn an interest of 6% APY (Annual Yield Percentage) for a minimum 3-month lockup period. 

A well-regulated platform, Crypto.com holds an operating license from the Malta Financial Services Authority (MFSA) – the top financial regulator on the island of Malta.

Crypto.com uses several security measures, including multi-factor authentication and real-time threat detection, to prevent hacks or breaches. Cryptocurrencies on the site are also held in cold storage and insured up to $500 million against theft and damage.

Cryptoassets are a highly volatile unregulated investment product.

3. Binance – Biggest Crypto Exchange to buy Bitcoin in Ghana

Binance is the largest global cryptocurrency exchange in terms of daily trading volume and supports more than 500 cryptos in the 100+ countries it operates in.

Along with the standard trading of BTC, Binance provides a platform for users to conduct spot orders, margin orders, P2P transactions and staking protocols. Using an array of payment methods, including bank deposits, wire transfers and crypto deposits, you can buy BTC on Binance with a deposit of $10 or 75 Ghanian Cedi. 

You can trade on Binance with a fee of 0.1% per transaction, which reduces if you hold Binance Coin (BNB) – the exchange’s native crypto token. 

The platform offers a referral programme which lets you earn commission on user referrals. While the standard rate is between 0% and 10% per referral, holding BNB again provides you with better returns and perks. 

Cryptoassets are a highly volatile unregulated investment product.

Should I Buy Bitcoin?

Now that you know where to buy Bitcoin in Ghana, it’s imperative to know about the nature of this global cryptocurrency. 

On the one hand, BTC is one of the most volatile assets that fluctuates its value from time to time. On the other, BTC has become one of the most valuable financial assets – worth more than all but the top 3 companies in the S&P 500 index. 

If you have a lower risk appetite, consider the ease of investing in this digital asset. On Capital.com, you can start trading BTC with just $20. Thus, you can diversify your portfolio and hold multiple cryptocurrencies to help increase your growth potential. 

Exchanges like Capital.com and Binance also provide investors with demo trading accounts. Thus, you can explore the market in real-time without having to deposit any money. 

If you want to purchase BTC in Ghana, we recommend Capital.com as the best crypto exchange for doing so. 

Cryptoassets are a highly volatile unregulated investment product.

Benefits of Buying Bitcoin

Before we explore how to buy Bitcoin in Ghana, let’s take a quick look at the benefits of buying BTC. 

Did you know that some investors buy BTC to spend in the best Bitcoin casinos in Ghana. In the sections below, we discuss the main advantages of holding Bitcoin in your portfolio. 

Minimum Investments 

While BTC is the most expensive cryptocurrency to own, with a price of almost $40,000, you can purchase fractional shares of this asset. If you cannot afford to buy 1 BTC, platforms like Capital.com allow you to buy a percentage of BTC with relative ease. 

On Capital.com, you can start your crypto investment by holding just $20 worth of BTC. All the exchanges mentioned above also support fractional ownership of Bitcoin. 

Scarcity will bring more value 

Most cryptocurrencies have a low coin price due to the abundance of tokens in the market – making them an inflationary asset. On the other hand, the Bitcoin blockchain will only comprise a maximum supply of 21 million tokens. 

One of the reasons BTC is worth so much in 2022 is its limited supply – more people buying a limited asset increases its price in the long run. 

These simple demand and supply characteristics are one of the main reasons why many analysts and investors still believe in the future of Bitcoin. 

Past Performance

While past performance is not indicative of future returns, we learn a little about the assets trading history and market indicators. 

While the first-ever decentralised cryptocurrency has a fair share of ups and downs, it has multiplied its value since its inception. In 2020 alone, BTC enjoyed a 323% YoY (Year on Year) increase, ending the year just under $30,000 per token. 

A couple of years before the highs of 2020, BTC was still trading in the triple-digit figures – ending 2016 at a modest $959 per coin. 

Many high growth stocks like Tesla have not experienced the multiplied growth that Bitcoin has enjoyed – which is why it is the most bought cryptocurrency of all time. 

Price Correction in 2022

Currently, BTC and the larger cryptocurrency markets have witnessed a significant price correction towards the start of the year. BTC has experienced a sideways price pattern since January 2021 after higher than expected inflation numbers and a new crypto tax bill introduced in the United States. 

BTC is trading at almost 40% below its all-time highs, allowing many investors to enter the market at a discounted price. This can enable a favourable price point, especially if you want to trade BTC for the long term. 

A Cheaper Alternative to Traditional Finance & Banking 

After the stock market crash of 2008, Bitcoin was created as a solution for the world’s banks and financial institutions. BTC is the first digital asset which promotes decentralised and autonomous banking – allowing individuals to be in complete control of their assets. 

Trading in BTC is also cheaper than traditional banking means – especially for foreign transactions. Most banks charge a high fee for cross-border payments and incur a lengthy confirmation period of 1-2 weeks. 

BTC has a standardised fee for local and cross-border payments. On Capital.com, for a fee of 0.1%, you can transfer money from the United States to Ghana with a transaction speed of just 5-10 minutes. 

Ways of Buying Bitcoin

Now that you know the benefits of buying BTC, let’s look at some of the payment methods you can use to buy Bitcoin in Ghana. 

Buy Bitcoin with Credit Card or Debit Card

If you’re looking for a simple method for how to buy Bitcoin in Ghana, credit and debit card options are a quick way of doing so. 

All the above brokerages support credit and debit payment options for buying cryptocurrencies in Ghana. Since credit and debit card fees can differ per exchange, we recommend Capital.com as the best platform from where to buy Bitcoin in Ghana. 

Capital.com charges no fees and commissions for debit card deposits, allowing you to invest in BTC with a mere $20 deposit. 

Cryptoassets are a highly volatile unregulated investment product.

Buy Bitcoin with PayPal

Another option you have when it comes to assessing the best way to buy Bitcoin in Ghana is through the global payment processor, PayPal. PayPal provides users with an effortless and quick means of depositing fiat currency in exchange for crypto assets on various brokerages. 

To buy Bitcoin using PayPal in Ghana, select PayPal as your preferred payment method while depositing fiat currency. Choose the amount of cash you wish to put into your crypto account. 

Bitcoin Price

As we mentioned earlier, Bitcoin has been on a sideways trend for the last couple of months. After reaching an all-time high of $68,000 in November 2021, BTC has fallen to $39,000. 

However, BTC is still the largest crypto asset globally, with a market cap of $750 million. Currently, BTC is 40% below its all-time high. If you are looking for a good time to buy Bitcoin, the market is offering this cryptocurrency at a heavily discounted rate. 

A high daily volume of $32 billion indicates that BTC is being purchased heavily. A very popular asset among many crypto analysts and investors, BTC is one constant in the portfolio of most traders in this industry. You can buy Bitcoin in Ghana through Capital.com now. 

Bitcoin Price Prediction

For a lengthy period, many crypto analysts predicted a price of $100,000 for BTC in 2021 itself. However, BTC eventually corrected below the $40,000 mark towards the end of the year. Despite the correction, the market sentiment is still bullish for Bitcoin. 

According to Wallet Investor, an AI operated forecasting machine, BTC has a 1-year price target of $60,000 and a 5-year price target of $145,000. The total growth adds up to almost 50% and 365%, respectively. 

However, price predictions on BTC should not be taken at face value due to the volatile nature of these digital assets. Therefore, if you’re wondering when to buy Bitcoin there isn’t a clear-cut answer as the crypto markets are constantly in a state of flux. 

Instead of basing your investments on price predictions, we would advise you to conduct your own research before putting any money in Bitcoin or other cryptocurrencies. 

How to Buy Bitcoin Safely 

Before you can purchase Bitcoin in Ghana, there are a few considerations you need to make to trade the cryptocurrency safely. 

Firstly, you should purchase Bitcoin from a brokerage that is well regulated and safeguarded. This is because the risk of trading in volatile assets like BTC is high.  Therefore, we recommend you choose a trusted broker before buying BTC in Ghana. 

• Capital.com is our recommended broker of choice due to its strict regulations that allow the platform to operate globally. 
• Capital.com is governed by 4 different regulatory bodies, including the FCA, CySec, ASIC and the National Bank of the Republic of Belarus. 
• The platform enables 2 Factor Authentication to ensure the security of your account. 

Secondly, it would be ideal to choose a method to store your Bitcoin tokens before investing in the market. 

• Bitcoin, like other digital assets, is stored in a crypto wallet. 
• You can choose to store your BTC in a hot wallet or a web wallet, which is connected to the internet. Capital.com is a good hot wallet since it provides many security protocols to protect your assets. 
• On the other hand, users can create a cold wallet. Such a device stores your BTC holding in hardware devices like USB sticks. This gives you exclusive access to your assets. An understanding of private keys and backup passphrases will be helpful should you choose this option. 

How to Buy Bitcoin in Ghana 

Now that we have explained the BTC price and possible price predictions let’s look at how to buy Bitcoin in Ghana. 

Ideally, we would recommend you choose a user-friendly exchange that provides low fees and added benefits to investors. Therefore, we think Capital.com is the best platform for you to buy Bitcoin now. 

Step 1: Open an Account 

Head over to the Capital.com website or mobile app and click “Trade Now”. Fill in your email address and create a password to get started. 

Step 2: Verify Your Account 

After signing up, click on the “Complete Now” button, which appears on your screen. Capital.com will ask you questions regarding your employment status and your average budget to better understand your investment goals. 

Complete the verification process by providing a valid photo ID, phone number and resident proof. 

Step 3: Deposit Funds 

 You can choose between depositing your funds in either USD, GBP or Euro. Since Capital.com does not charge any fees, it is affordable to convert your local Ghanian Cedi to any of these 3 currencies. 

Choose from various payment methods, including Credit/Debit cards, online banking, or wire transfers, to get started. 

Step 4: Buy Bitcoin 

 Click on the “Trade” option on the top left of the Capital.com navigation bar and search for BTC/Bitcoin. Click on “Buy” and insert the amount of fiat you want to deposit or BTC you wish to purchase. 

Confirm your trade by clicking on “Place Limit Order”. 

Cryptoassets are a highly volatile unregulated investment product.

How to Sell Bitcoin 

Most investors opt to cash out after making some gains on their BTC holdings. On Capital.com, you can easily sell your Bitcoin in just a few steps.

Click on the “Trade” option on the top left of your screen and search for BTC/Bitcoin. A “Buy” and “Sell” option will be displayed next to the BTC symbol. Click on the latter. 

Enter the amount of fiat currency you wish to close from your position and click on “Sell” to confirm the trade. 

Conclusion

This guide has discussed how to buy Bitcoin in Ghana. In summary, we have provided you with the best platforms for where to buy Bitcoin in Ghana, along with an analysis of the price and future of BTC. 

At Capital.com. You can buy BTC in just a few minutes without paying any commission on your trades. Click the link below to visit Capital.com

Cryptoassets are a highly volatile unregulated investment product.

FAQs when Buying BTC in Ghana