How much is 0.1 bitcoin to Ghana Cedis; If you find it difficult to calculate the current Bitcoin price, this article is for you. Are you a crypto trader in Ghana, and you’ve been wondering about the cost of Bitcoin? This article is for you. In this article, you will learn all you need to know about Bitcoin, where to trade, how to trade, and the current prices of Bitcoin.
Bitcoin was created in 2006 by a group of unknown blockchain technologists collectively called Satoshi Nakamoto. Since its creation, Bitcoin has been a victim of the bear bull market. Many have put their faith in Bitcoin as their ultimate financial backbone, and Bitcoin is yet to be overthrown by any other cryptocurrency.
The bear market has affected the value of bitcoin and other cryptocurrencies, but things are beginning to look up in recent months. Between the 8th and 10th of November 2021, Bitcoin reached its highest value of over 68,000 US dollars and is said to be the greatest bull market.
How much is 0.1 bitcoin to Ghana Cedis
The best way to be conversant with the ever-changing price of Bitcoin is by using a reliable crypto rates calculator. Several exchange platforms in Ghana have embedded this feature in their platforms to make it easy for their customers. Astro Africa is one of the few platforms.
Astro Africa rates calculator is swift and easy to use. The calculator allows you to check the rates of Bitcoin at any time. It can be used to check the current rates of cryptocurrency in both naira and Cedis. To calculate the current price of 1 bitcoin in Ghana Cedis, follow the steps below.
- Visit the Astro Africa website on your preferred browser.
- Click on check rates. To use this feature, you do not need to be a registered user. However, if you want to sell at the current rate, you must create an account using a valid email address.
- You will find sections for gift cards and crypto; click on the crypto section.
- Select Payout wallet, GHS wallet.
- Select coin, Bitcoin.
- Input coin amount.
- Immediately after you input the coin amount, the USD and GHS values will be displayed.
- The current price of 0.1 Btc in Ghana Cedis is 43,205.0. This is the highest rates you will find on any platform.
- Click Proceed right after to trade your Bitcoin at the same rate.
Download Astro Afrocan on Google Play
Risks of investing in Bitcoin
Investing in cryptocurrency, especially Bitcoin, is not for the weak. While crypto enthusiasts and analysts look to Bitcoin as the beacon of hope for cryptocurrency, you must consider several risk factors before investing. If you know you cannot the handle risk, investing might be unnecessary. These risk factors include;
- Encryption breaks
- Software bugs
- Government action
- Volatility
- Concentration risk
- Lack of central governance
- Association with illegal activities
- Unforeseen risks.
Before investing in cryptocurrency, proceed with caution. Do proper research, choose a suitable exchange platform, and invest only what you can afford to lose.
Why is the price of Bitcoin volatile?
As mentioned earlier, Bitcoin has the highest trading volume among cryptocurrencies, but it’s still a small market compared to other global markets. The amount of bitcoin in circulation is quite limited, and the creation of new Bitcoin follows strict rules; hence, the volatility of Bitcoin is affected by several factors. These factors include;
- Supply and demand of Bitcoin.
- Competitors.
- Media speculations
- Uncertainty in the future intrinsic value of the cryptocurrency as a store of value.
- Currency risks for large holders of Bitcoin regarding liquidation.
- Security breaches.
- Government regulation.
Read also: How much is 0.03 BTC in Ghana Cedis?
