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You'll need a Bitcoin wallet before you buy since some exchanges require one.
Don't have a wallet? Read our guide on the best Bitcoin & cryptocurrency wallets.
Coinmama allows customers in almost every country to buy bitcoin. They charge a 4.9%-5.9% (depends on volume) fee on each purchase.
Customers in Europe can also purchase bitcoins with SEPA transfer for a lower fee.
Want to buy using Coinmama? This step-by-step guide will show you how to use Coinmama.
Founded mid-2011, Kraken is the one of the world's largest cryptocurrency exchanges, and the largest in Europe based on daily average trading volume. It is available in almost all countries. Deposits can be made via bank wire, SEPA, ACH and SWIFT.
LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer.
Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States, Europe (besides Germany), UK, Singapore, Canada, Australia and many more.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. That convenience and privacy, however, comes with a price; most ATMs have fees of 5-10%.
Ghana is one of the fastest growing economies in the world. It has extensive industrial production of petroleum and precious metals used in electronics or for investing purposes. Ghana may be the alrgest Economy in Africa in the coming years, but it is still developing, and property rights are not incredibly reliable.
This makes Ghana ripe for serious Bitcoin adoption, even though there are no local exchanges to buy from.
But that doesn't mean you cant buy Bitcoin in Ghana. One of the easiest ways to buy Bitcoin in Ghana is through cryptocurrency exchanges. There are several exchanges offering Bitcoin in Ghana, and you can easily select one based on your requirements and preferences using our guide. Different exchanges have different transaction fees, withdrawal limits, payment modes, and verification processes that need to be kept in mind before users select one.
Additionally, Bitcoin buyers need to keep in mind the fact that certain exchanges might require them to get a wallet of their own before they are able to buy the digital currency. Also, it is recommended to have a wallet of your own for security reasons, preferably a hardware wallet. If you don’t have a wallet, refer to our guide on the Best Bitcoin and Cryptocurrency Wallets to choose one.
Another way to buy Bitcoins in Ghana is through automated teller machines (ATMs). These ATMs allow users to instantly purchase and sell cryptocurrency using cash, however most of them require at least a phone number, so they aren't totally private.
Ghana has access to many large Bitcoin and cryptocurrency exchanges.
Have a look at our favorites below:
There are three main types of Bitcoin wallet and all of them are supported in Ghana:
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. It connects to iOS, Android & desktop computers.
Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features.
In July of 2016, Londan based Kwaku Damete-kumi founded GCCH (or Global Coin Community Help), which primarily targets Ghanian people.
This multilevelmarketing scheme is especially odd, since it doesn't even pretend to offer products and services - just guaranteed returns on a pyramid of affiliates in order to 'help the community of cryptocurrency enthusiasts'.
Basically, a new affilaite signs up through a parent affiliate and invests $50-10,000 in Bitcoin with the promise of a 100% return in 5 months.
Before the affiliate is able to withdraw their money, they must pay a withdrawal fee equal to the amount they invested. Yes, you read that correctly - all of the returns promised get eaten by the withdrawal fee.
A 5% commission was paid to the referrer of the new affiliate.
The founder has been part of a slew of other MLM/ponzi schemes - 5 to be exact - including UNascos, iCharity Club, MMM Global and others.
Obviously it shoudl go without saying: do not give this man or GCCH any money.
In October of 2019, a former NBA basketball star Isaac Edward Austin reportedly stole $825k from a Ghanian firm.
Austin convinced the firm to hand him $11,000 per Bitcoin, which they transferred to his bank account in the USA. In exchange, he would invest Bitcoin on their behalf in his two trusts, IEA and Tudor Trust. He would then deliver Bitcoin to the Ghanian firm after a 'trading period' plus any returns made. However, once that trading period came and went, Austin never delivered the Bitcoins.
One Ghanian victim wrote:
[Austin] will take your Bitcoin and you will never get your investment back or your returns. On the day of payment, he will tell you story after story filled with lies of issues why the BTC couldn’t be delivered on the day of payment.
Some of the excuses Austin offered for his claimed inability to pay:
Coinbase ONLY allows crypto-to-crypto conversions for Ghana residents as of September of 2020.
The current price of Bitcoin in Ghana is GHS $60,966, however this amount changes every minute, so always check the value on your local exchange.
There are no Bitcoin escrow services in Ghana that we can recommend at this time. There are some groups on facebook offering this service, but typically, these are scams and should not be trusted.
Any exchange with a GHS trading pair will allow you to sell your Bitcoin for fiat currency. Coinmama has GHS trading pairs for many popular coins.
You can also use CoinATM Radar to find Bitcoin ATMs in your city if you wish to exchange your Bitcoin for cash in the quickest amount of time.
Local Bitcoins is another option. Here, you can buy and sell Bitcoin for a wide range of payment methods, from gift cards to bank transfers. Local Bitcoins is a peer-to-peer (P2P) exchange, where you buy and sell with another individual. This does introduce a degree of risk, though by ensuring that you conduct all business on the platform, make use of its escrow services, and only trade with users who have a good reputation, you'll minimize any potential problems.
You could also use a service like eGifter to sell your Bitcoin for gift cards.
Many people in Ghana are interested in Bitcoin loans because of the vast growth of the Ghana economy. Any growing economy needs access to capital, and if you are holding Bitcoin, a Bitcoin backed loan can be a great way to get some to start a business or buy property...all without having to sell your Bitcoin.
Unfortunately, none of the main Bitcoin Loan companies (Blockfi, Ledn, Unchained Capital) are offering these products to Ghana citizens at this time.