How to convert my Bitcoin to Ghanaian Cedis online (2024)

Cryptocurrencies have been gaining popularity in Ghana over recent years, seeing the coming of Bitcoin and other digital coins. To be specific, Bitcoin has seen growing interest among Ghanaians, especially among the tech-savvy youth and those looking for alternative investment opportunities. So if you are already investing in Crypto currency and looking for ways on how to convert your Bitcoin to Ghana Cedis, this step-by-step guide will help you.

• How to buy, sell, trade, or exchange Bitcoin in Ghana

One thing about Bitcoin and other crypto currencies in Ghana is that they provide an alternative for the unbanked population to access financial services. They do this by offering a way for individuals without traditional bank accounts to participate in the global economy.

How to convert my Bitcoin to Ghana Cedis online

There are several ways you can use to convert your Bitcoin to Ghana Cedis online and trade or withdraw it into tangible money. Here some of the steps you should follow to achieve this:

1. Choose a Cryptocurrency Exchange

To convert Bitcoin to Ghanaian Cedis, you’ll need to use a cryptocurrency exchange that supports GHS withdrawals. Some popular Crypto Currency exchanges that support GHS withdrawals or local currency withdrawals in Ghana include:

• Binance
• Paxful
• LocalBitcoins
• Luno

2. Create an Account

Once you have chosen a suitable Crypto currency exchange platform in Ghana, you will be prompted to sign up for an account if you don’t already have one. This usually involves providing some personal information and verifying your identity.

3. Deposit Bitcoin

After confirming your account and validating it, it is time now to begin transferring money online. Transfer the Bitcoin you wish to convert to your exchange wallet. To do this:

• Find the Bitcoin deposit address on the exchange.
• Send the Bitcoin from your personal wallet to the exchange wallet address.

4. Sell Bitcoin for Ghanaian Cedis

Once the Bitcoin is in your exchange wallet, you can sell it for GHS online using the Crypto currency exchange platform you chose in Ghana. Follow the steps below to get started:

• Go to the trading section of the exchange.
• Select BTC/GHS trading pair.
• Place a sell order for the amount of Bitcoin you wish to convert. You can choose a market order for immediate execution or a limit order if you want to set a specific price.

5. Withdraw Ghanaian Cedis

After selling your Bitcoin, you’ll have GHS in your exchange account. You can now go ahead to withdraw this amount to your bank account or mobile money account. To achieve this, below are the steps you should follow:

• Go to the withdrawal section of the exchange.
• Select GHS as the withdrawal currency.
• Enter your bank account or mobile money details.
• Confirm the withdrawal request.

6. Check Transaction Fees

Before you confirm the withdraw process, you must be aware of the fees associated with each step, including Bitcoin network transaction fees, Exchange trading fees and withdrawal fees to your bank or mobile money account.

Frequently Asked Questions