Bitcoin is the first and most valuable cryptocurrency in the world. So crypto traders of today with versatile portfolios started with just Bitcoin at first. After Bitcoin gained prominence and increased in value, other cryptocurrencies like Ethereum and Dogecoin were created, and they have also been doing fairly well.
On the 13th of March 2024, the value of Bitcoin peaked reaching its all-time highest value of $73,084. At that time, there were just over 19.6 million Bitcoins in circulation, bringing the market cap to around $1.35 trillion. This significant milestone was driven by investor inflows and followed the approval of the Bitcoin ETF by the U.S. Securities and Exchange Commission (SEC).
Several market forces influence the exchange rate of Bitcoin and other cryptocurrencies. These forces drive the bullish and bearish cycles of the crypto market, causing many Ghanaians to be cautious about investing in Bitcoin. Around this time last year, the crypto market was bearish, but Ghanaians who were wise enough to invest in Bitcoin are now reaping the rewards of their decision.
Ways to sell Bitcoin in Ghana
If you are a Ghanaian looking to finally sell your Bitcoin for cash, you have found the right article. There are various ways to sell your Bitcoin for cash. All you need to do is ensure that the platform is entirely safe and has no history of scamming traders before using it. This way, you can avoid getting scammed by dubious exchange platforms. To convert your Bitcoin to Ghanaian cedis, use any of the methods below.
Sell Bitcoin on a crypto trading platform
When it comes to selling Bitcoin on a crypto trading platform, you should have clear trading goals. This way, you know features to look out for on exchange platforms to avoid using poorly developed exchange platforms.
To sell Bitcoin on crypto trading platforms, you become a registered user on your platform of choice by creating an account. There are several exchange platforms in Ghana but the best platform is Astro Africa.
Sell Bitcoin on P2P platforms
A P2P platform is a type of trading platform that helps to connect buyers and sellers for direct trading, unlike exchanges that act as intermediaries between them. On P2P platforms, traders get to choose the buyers of their assets.
Several P2P platforms allow Ghanaians to sell Bitcoin for cash, including Paxful, Binance P2P, Remitano, and Bybit. Each platform has its features, pros, and cons, so it’s important to research before selecting a preferred P2P platform for trading your BTC.
Sell Bitcoin via Whatsapp vendors
Apart from P2P and exchange platforms, you can also sell Bitcoin via WhatsApp. This is the most accessible method and doesn’t require you to submit personal information but it is very risky. If it’s an unknown Whatsapp vendor, you stand a risk of getting scammed if care is not taken. So, it’s advisable to sell Bitcoin to third-party Whatsapp vendors that you are familiar with.
Sell Bitcoin using Bitcoin ATM
Bitcoin ATMs are not available in Canada but it is possible to sell your Bitcoin via Bitcoin ATMs in the United States and Canada.
Steps to sell Bitcoin on exchange platforms in Ghana
The exchange platforms in Ghana may have been created by different developers but the process involved in selling Bitcoin is similar in all of them. For this section, our main platform of focus is Astro Africa. Astro Africa is Ghana’s best crypto exchange platform. This is because the platform is fast, reliable, and safe, and offers high exchange rates for all cryptocurrencies. To sell Bitcoin on Astro Africa, follow the easy steps below.
Create an account: To sell Bitcoin on Astro Africa, create an account by following the platform’s know-your-customer procedure. Input all the information required of you to become a registered user.
Sell Bitcoin: Click sell crypto to select Bitcoin as the crypto you want to trade.
Deposit Bitcoin: Send Bitcoin to the BTC address displayed on your screen.
Receive payments: As long as you have added a valid bank account, your account will be credited after transaction confirmation.
