Have you heard about the bitcoin revolution but don’t quite know where to start? You’re not alone. The number of people who are curious about this new technology is always increasing.
Here are some simple steps on how to invest in bitcoin in Ghana. They may seem obvious, but you must understand exactly what you’re doing before using your money.
The first step is to decide on what you want to invest in. Bitcoin comes in many different forms, from the well-known Bitcoin to Litecoin and even Bitcoin Cash. Each has a unique selling point that sets it apart from the other options. Once you have decided which cryptocurrency you want to invest in, it’s time to open an account to start trading.
There are two options here: use an online exchange, or invest with a facilitator. Trading on exchanges has become increasingly popular, but there is also the option of opting for a bitcoin investment platform. These sites look after your money by keeping it in cold storage until you’re ready to trade. The main advantage is that they tend to offer more coins than the exchanges, making them an attractive option.
You can also invest in bitcoin mining. This doesn’t suit everyone’s needs, but it can be profitable if you’ve got the time and money. You need to do your research before trying this route, though; mining isn’t as simple as throwing some money at a computer.
If you are in Ghana and want to invest in Bitcoin, follow the guide below to familiarize yourself with the system before starting.
Steps to Invest in Bitcoin in Ghana
Below are the steps you can follow to invest in bitcoin if you are from Ghana. It is pretty complicated not to invest in bitcoin because most popular bitcoin investment platforms are not available in Ghana. This will let you switch from platform to platform before you can get one.
Now let us begin.
- Create an Account: These are some of the platforms you can invest your bitcoin in if you are from Ghana; Binance, Luno, Paxful, and Exness. You may be required to verify your identity by providing your ID, address, and headshot photo.
- Deposit Bitcoin in your wallet: Now that you have your investment platform, you can now deposit the amount of bitcoin you need to invest. Most of the mentioned platforms may allow you to deposit directly using Mobile Money, Credit Card, or Bank Transfer. Others too, you need to buy bitcoin from different platforms to a given bitcoin address.
- Start investing your bitcoin: Now that you have the amount you want to invest in your investment platform, wait for some time for your bitcoin to grow (hopefully).
- Withdraw your Bitcoin: If you reach where you prefer to withdraw your bitcoin, you can now withdraw or sell your bitcoin.
Conclusion
I will advise you to read more about investment because doing it right will be successful, but the other way may cost you a lot. Remember also that investing isn’t a guarantee of success, so take caution when investing.