In this article, we look at the best platforms to buy bitcoin in Ghana with Mobile Money (popularly known as Momo) directly. This guide covers buying bitcoin in Ghana with MTN Mobile Money, Vodafone Cash, Tigo Cash, and Airtel Money.
Mobile Money is a payment method in Ghana offered by telecommunication operators over their networks that allows you to send and receive money with your telephone number. Currently, the various Mobile Money providers include Vodafone Cash, Tigo Cash, Airtel Money, and MTN Mobile Money.
Bitcoin is digital money, it is money just like the Ghana Cedi (GHS) but instead of a paper and coin-based form of currency, Bitcoin is virtual.
The cryptocurrency allows us to send money globally from any point of the world to another point securely and instantly with very minimal fees. Read our Bitcoin Explained To Newbies guide to understand the fundamental concepts of bitcoin.
Before you buy bitcoin with mobile money, you ought to get a wallet to store your bitcoin. There are several bitcoin wallets you can use but the purpose of this article, we recommend Jaxx Liberty Wallet (for Android, iOS and Desktop users) and Trust Wallet (for iOS and Android users).
Further, you will need to load your mobile money wallet with money to proceed. After, you will need to find a Ghanaian bitcoin exchange that accepts mobile money.
There are several bitcoin exchanges in Ghana that allow you to buy bitcoin with mobile money, to select one exchange you need to consider the convenience, speed and exchange fees of the platform.
Here are the top 5 ways you can buy bitcoin in Ghana with mobile money:
eBitcoinics is a popular Ghanaian based cryptocurrency exchange. The local platform is well known in the Ghanaian cryptocurrency ecosystem which makes it a trusted platform.
To buy bitcoin with mobile money on eBitcoinics you will have to register on the exchange by clicking on the signup button and following the steps that pop up.
Subsequently, you will have to verify your account by verifying your email address and mobile number.
Finally, you can place your order on eBitcoinics by inserting the amount of Ghana Cedis (GHS) you want to use in purchasing your bitcoin. You then follow the steps, which include providing your bitcoin address and making the mobile money payment. You will receive your bitcoin immediately after this.
Ebitcoinics has a limit on how much bitcoin you can buy without KYC verification. KYC verification requires you to verify your identity with a legal document as proof (this step is not necessary for readers buying relatively small amounts of bitcoin).
Unlike eBitcoinics, Paxful is not your regular bitcoin exchange. To buy bitcoin in Ghana with mobile money on Paxful you will have to find buyers willing to accept mobile money as payment for bitcoins.
Paxful is a peer-to-peer (P2P) bitcoin exchange, which means that buying and selling bitcoin is done directly between the two parties without a third party.
You are required to sign up via email which is followed by email verification. Finally, you will have to find a person selling bitcoin for payment via mobile money. You will receive your bitcoin after the trade is done.
Paxful also requires KYC for large sums of bitcoin purchases.
eBitpoint is an Accra based cryptocurrency exchange that allows you to buy bitcoin in Ghana with mobile money. To buy bitcoin on this exchange, you have to create an account and deposit money in your Ghanaian Cedi wallet.
After that, click on bitcoin and complete the buying process. The bitcoin will then appear in your wallet on the exchange. A unique feature of eBitpoint is SMS alerts which come in handy when trying to keep a tab on activities on your account.
Bushcom Financials is another local bitcoin exchange that allows you to buy bitcoin with mobile money in Ghana. The platform also allows you to receive money
To use Bushcom Financials, you will have to register to make your order, pay for it through mobile money, and complete the process.
Remitano is another peer-to-peer bitcoin exchange that allows you to buy bitcoin with mobile money on Ghana. This means that you will have to search for sellers who are open to receiving their payments through mobile money.
To get started, register an account with your email address, Google, or Facebook. Once you have registered your account, scroll through the list of bitcoin sellers and choose one with your preferred price. You will note that there is a maximum amount of bitcoin that you can buy from each seller. So, keep that in mind when taking your pick.
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