It’s not news that Bitcoin is the number one cryptocurrency and it’s also not news that the value fluctuates. Just like the stock market, it is wise to buy when it’s low and sell when it’s high. If you trade wisely you can make a bit of a fortune from it. The Bitcoin market looks like it is here to stay as it bounces back stronger every time it crashes. this is why people buy and also sell Bitcoin in Ghana for reasonable cash.
Yeah, I know now you are wondering why you haven’t thought of doing so too. As in why haven’t you used the stock market formula to invest and trade in Bitcoin? Buy when low and sell when high then make a profit. This article is designed to teach you how to sell Bitcoins in Ghana and how to save them in Cedis. Before we go there, let’s look at other reasons why people sell Bitcoins for Cedis.
Why People Sell Bitcoin in Ghana
1. People sell Bitcoin in Ghana For-Profit
Like we established before, Bitcoin value fluctuates. Whenever the value drops, smart people buy. When it goes back up (which is usually within months) this is when people sell for profit.
2. For emergency cash
One could be stranded and need urgent cash, if he/she has Bitcoin they can easily sell it for cash.
3. To Change it to Cedis
Not all businesses in Ghana accept Bitcoin as a means of payment yet. To be able to use it in these businesses you must change it to Cedis.
These are the top 3 reasons why people might sell their Bitcoins in Ghana. Now that we have identified reasons to sell, let’s get to the main topic of this post.
Steps You Should Follow to Sell Bitcoins in Ghana
The steps on different platforms might differ and it will take a lot of writing to list out the steps on every site. That being said, we will use the easy-to-use Prestmit steps to illustrate this.
1. To Sell Bitcoins in Ghana You need to Create an Account
First, you create an account on the platform. To do this you just need to fill in some key information. It would take less than a minute to get this done.
2. Create an address
After you have created your account, the next thing you need is a Bitcoin address. Luckily as a Prestmit user, you get a free Bitcoin address.
3. Send BTC to your wallet
If you have come this far just know that you are almost there already. Send the amount of Bitcoin you want to change to your free wallet address. The Bitcoin will be saved in Cedis. Now you wait for 3 confirmations
4. Then Get Paid
After the confirmations, the Cedis equivalent will be sent to your Cedis wallet. The exchange rates are usually displayed on the dashboard.
Those are the 4 easy steps to changing your Bitcoins to GHS.