The adoption of cryptocurrency has grown globally over the years. With more people hopping on the cryptocurrency wave, more businesses, big-name organisations, and even countries have opened up to it more, and Ghana is joining in on the buzz.
According to Chainalysis’ Global Crypto Adoption Index, Ghana could achieve crypto adoption levels similar to Kenya and Nigeria, the countries that ranked 11th and 19th, respectively.
According to the CEO of Paxful, a P2P crypto exchange platform, Ray Youssef, the local population’s needs, along with the current growth trends in Ghana, show its potential to become a leader in crypto adoption in Africa.
Ray Youseff mentioned that the overall trading volume from Ghana in Paxful has grown by 400% in the last two years. The executives also believe that during the summer, lots of Nigerians consider Ghana as their home and are coaching Ghanaians on Bitcoin and crypto.
The increase in the adoption of Bitcoin and crypto in Ghana has led to the springing up of more crypto trading platforms, whether for buying, selling or both. Most of these platforms are adapting to the financial market of Ghana and have even made selling crypto for Mobile Money possible.
With this new development, more people are convinced to invest in crypto, as it is more convenient for them.
In this article, we’ll look at how to sell Bitcoin for Mobile Money in Ghana using the best crypto trading platform in Africa, Breet.
But first, let us touch on the basics.
What is Bitcoin?
According to Wikipedia, Bitcoin is a decentralised digital currency that can be transferred on the peer-to-peer bitcoin network. Bitcoin transactions are verified by network nodes through cryptography and recorded in a publicly distributed ledger called a blockchain.
Bitcoin was founded in 2009 by Satoshi Nakamoto. Initially, Nakamoto described the call for “an electronic payment system based on cryptographic proof instead of trust.”
This digital currency was created to act as money and also as a form of payment outside the power of any person, group, or organisation, therefore removing the need for the involvement of a third party in financial transactions. Blockchain miners also earn Bitcoin as a reward for the work done to confirm transactions and can be bought and sold on various exchange platforms.
Best App To Sell Bitcoin in Ghana – Breet App
As mentioned earlier, the adoption of Bitcoin and crypto is rising in Ghana. More people are jumping on the wave by buying, selling, and even making transactions with this digital currency.
That is why there is a need to share with you the best app, why to choose, and how to choose your favorite crypto trading app.
Breet is an over-the-counter (OTC) cryptocurrency trading app in Africa where crypto users and businesses can sell Bitcoin, convert it to Cedis and withdraw directly to their local bank account in less than five minutes.
Because Breet uses an OTC trading method, your privacy is guaranteed during the trading process. You do not need to wait long hours to sell your Bitcoin, and you can trade any amount you want- little or large.
With a customer-centric interface, Breet is super easy to use. The app is not for crypto experts only as Breet put in time and effort to make the trading process as quick and easy for everybody, so a newbie who knows nothing about crypto can also sell their Bitcoin seamlessly.
Because Breet is available in Ghana and Nigeria, if you wish to sell your crypto for Cedis or Mobile Money, you need to set your default wallet to Cedis.
Features Of Breet
Free Crypto Wallets
Asides from Bitcoin, you can also trade Ethereum, Litecoin, USDT, Dogecoin and Bitcoin Cash on Breet. All these crypto coins come with a unique crypto wallet available on Breet. All you need to do is generate it; you can use it anytime and anywhere, free of extra charges.
These are points you get for every transaction you carry out on Breet. For every 1 dollar sent, you get one reward point. You can redeem your points for cash or airtime. For a detailed guide on redeeming your reward points, feel free to check this full tutorial.
Refer and Earn
Breet runs a referral program where each user gets a unique referral code, and they earn a certain amount in reward points with each referral. For November, each user gets 800 reward points for each referral, and the new user they referred also gets 800 points. Users can redeem these reward points for airtime or cash.
The rate calculator feature is available on the Breet App to calculate how much your Bitcoin sent to your wallet address will be worth in Cedis, depending on the current rate. All you have to do is input the necessary details, such as the crypto type, currency type (Ghanaian Cedis), and the amount in USD. When all this information has been provided, you have to click on “Calculate”, and your total will be displayed according to the rate of the day, which will also be displayed.
This feature allows users to automate the process of withdrawing their funds after every transaction. Breet users have the option to turn this feature off or on. When turned on, your funds will be withdrawn straight to your Mobile Money account provided after every transaction.
How To Set Your Breet Default Wallet To Cedis
- Log in to your Breet account.
- On the bottom far right corner, click on the SETTINGS button.
- Click on DEFAULT WALLET
- Select CEDIS WALLET.
That’s it! All crypto transactions will now be deposited into your Breet CEDIS wallet, and you can withdraw from that wallet when you wish to.
How To Add Your Cedis Mobile Money Information on Breet
Below is a step-by-step guide on how to add your MTN Mobile Money information to Breet.
- Log into your Breet account
- Located at the top right corner of your screen, click on the menu bar.
- Next, click on “Payment Details.”
- Click on “Add your Account Details.”
- Select your currency type, which is Cedia-GHS
- Input your Bank name- MTN Mobile Money
- Input your Account Number
- Input your Account Name
- Click on “Save.”
How To Sell Bitcoin For Mobile Money in Ghana
Below is a step-by-step guide on how to sell Bitcoin for Mobile Money in Ghana using Breet.
- Copy your Bitcoin wallet address or scan the QR code. You can receive Bitcoin into it from anywhere, at any time.
- There are different rates for different ranges of Bitcoin amounts in USD received in your wallet. The Cedis value will automatically be added to your Cedia wallet after completing a transaction.
- Once Bitcoin is sent to your wallet address, you have to wait for a minimum of 3 confirmations from the Bitcoin blockchain network.
- After this, the Cedis value is then added to your balance.
- Withdraw it to your Mobile Money account provided.
How To Withdraw Your Funds To Your Mobile Money Account
After completing your transaction, your funds will be added to your Cedis Balance. If your “Automatic Settlement” feature is turned off, you will need to manually withdraw your funds to your local bank account yourself when you wish to.
Below is a step-by-step guide on how to withdraw your funds from your Breet Cedis balance to your Mobile Money account.
- On the home dashboard, click on your Cedis Balance, which opens up the withdrawal page.
- Enter the amount you wish to withdraw.
- Enter your password.
- Select which account you want to make your withdrawal to.
- Click on “Withdraw”.
Enjoy your funds!
Although cryptocurrencies have not been recognised and named a legal tender in Ghana, it is no doubt that the country is opening up more to the idea of digital currencies, as they’ve been adopting it in one way or another.
With more crypto exchanges coming up day by day, selling Bitcoin has become much more accessible.
Crypto trading app, Breet, has now made it possible and so much simpler to sell Bitcoin for Mobile Money in Ghana.
The whole world is on the lookout for the growing crypto space in Africa and Ghana in particular, and we are excited about how it will play out in the future.