Binance, the biggest cryptocurrency exchange globally, allows users to buy bitcoin with Ghana Cedi (GHS). In this article, we will explore the steps to take to buy BTC with GHS on Binance.
Mobile Money is the most popular payment method in Ghana. Having the ability to purchase cryptocurrencies with mobile money makes it more accessible to the masses.
Due to its popularity, many people ask about how to buy bitcoin with mobile money? In this piece, we breakdown how you can do that on Binance.
Step By Step Guide: Buy Bitcoin With Mobile Money In Ghana on Binance
You will have to create a Binance account with your email address or mobile number to get started. After that, you will have to make a deposit and then make the purchase.
Here is a quick summary of the steps involved:
- Sign up on Binance.
- Go to your wallet and search for ‘GHS.’
- Click on deposit
- Enter your payment details and complete the transaction
- Go to the ‘Buy Crypto” tab and select ‘Cash Balance.’
- Enter the amount and click ‘Buy BTC.’
Step #1 – Create a Binance Account
Binance is one of the favorable options for buying bitcoin with mobile money in Ghana. Besides buying and selling bitcoin on Binance, users can also trade on the spot and futures market, earn from saving cryptocurrencies, and trade P2P.
A Binance account gives you access to all these features on a single platform. Visit binance.com to create an account; you will have to enter an email/phone number and password.
Sign up on Binance with our referral link to get a 10% discount on trading fees - Register on Binance.com.
After you receive a verification email or a code sent to the mobile number you used. Enter the code sent or click on the verification link to complete the registration process.
Step #2 – Deposit Ghana Cedi (GHS) via Mobile Money
The next step is to add cash to your Binance wallet. For a new account, before you do this, you have to verify your identity.
You will be asked to enter your name, date of birth, country, and address. This verification process is an initial verification that allows you to deposit up to $150 in GHS only. If you intend to increase your deposit limit, you can upgrade your verification. Now that you have completed the verification, you can make the deposit.
There are two different ways to do this on a desktop or mobile. On a desktop, go to your wallet (Fiat and Spot wallet) and search for ‘GHS’ in the search bar. Click on deposit to initiate.
On the other hand, you will have to go to your wallet (Fiat and Spot wallet) on mobile and click on deposit. Select fiat and search for ‘GHS.’
Now that you are on the deposit screen, you will have to enter the amount you want to deposit, your email, select a network, and enter your mobile number.
Click ‘continue’ to move to the next step.
You will receive an OTP via What’s App or SMS, which you will have to enter to move to the next step.
The final step will be to confirm payment on your mobile device after you receive a prompt. If you do not get this prompt, you can check your approvals depending on the network.
The cash will be added to your wallet after the deposit is successful.
Step #3 – Buy Bitcoin
Now that you have made a deposit, you can buy bitcoin with Ghana Cedi (GHS) on Binance. To do this, you will have to navigate ‘Buy Crypto’ and select ‘Cash Balance’ in the dropdown menu.
Select your fiat currency on the new page. In this case, you will select Ghana Cedi (GHS) since you are buying from Ghana.
Next, you have to enter the amount of GHS you want to spend on buying bitcoin. Click on ‘Buy BTC’ to proceed.
Confirm the transaction after you see the rate and how much BTC you will receive. The BTC you purchase will be added to your Spot wallet.
Buying bitcoin with mobile money in Ghana is easier with Binance. Unlike most platforms that do not have most features you will expect from a modern crypto exchange, Binance allows you to deposit GHS and access other products and services in one app.
Have you ever bought bitcoin with Ghana Cedi on Binance? Let us know how it went in the comment section below.