3 Easy Ways To Get Cryptocurrency in Ghana
Cryptocurrency has become a hot topic on and off over the years. A price surge in Bitcoin makes national news across the globe likewise a single tweet by Elon Musk can see the price of certain cryptos surging or plummeting.
Over the years, adoption and usage of cryptocurrency continue to rise sharply. The 2021 Chainalysis Report on Cryptocurrency highlighted Worldwide Cryptocurrency Adoption of over 880% with Peer-to-Peer platforms driving cryptocurrency usage in emerging markets.
African countries such as Kenya, Nigeria, South Africa and Tanzania made a strong showing on cryptocurrency adoption and usage for individual and business purposes.
In the next 10 years crypto will be ubiquitous and form part of our daily transactions.
For Africans on the sidelines interested in dabbling in crypto but have no idea where to start, this article is for you. Laying your hands on your first Bitcoin, Ethereum or Nano should not be a hustle. Here some ways to gain your first crypto
Buying on escrow groups
Escrow groups for Cryptocurrencies are primarily formed on online messaging platforms such as Whatsapp and Telegram. Some escrow groups are also on Facebook Messenger.
The basic idea of escrow groups is for cryptocurrency buyers and sellers to meet and trade virtually. Escrow Groups have moderators that monitor the activities of all members.
Scammers and Fraudsters are often weeded out by these moderators to preserve the faith that people have in the group. Its possible to purchase a large variety of cryptocurrencies on escrow groups. Search Facebook for a local escrow group in your city to join.
Pros
· Buy crypto at a marginally cheaper rate
· Active 24/7
· Sense of community
Cons
· High likelihood of fraud
· Your phone will buzz 24/7
· High message volume can slow down your phone
Buying from intermediary platforms
Cryptocurrency can also be purchased from intermediary platforms called Exchanges. There are primarily 2 types of intermediaries, the first being commercial Exchanges such as Binance and Bitpesa where you trade directly with the exchange or Peer-to-Peer Platforms such as LocalBitcoins and Paxful which serves as intermediary platforms to bring buyers and sellers together and acts largely as an escrow
Bitcoin World Wide lists about 9 exchanges you can get cryptocurrency from such as CoinMama, kraken, LocalBitcoins, BitcoinATM etc.
I have used Bitpesa and Paxful a number of times they’re top notch platforms.
Pros
· Instant feedback on your trades
· Trades are safe and secure
· 24 Hour access
Cons
· Transaction cost is marginally higher
· Requires identity verification hence no privacy
Earning in cryptocurrency
The last way of earning cryptocurrency is requesting to be in paid in cryptocurrency or choosing to accept payment for your goods in crypto. Freelance sites have sprung up online that will pay bits of cryptocurrency to execute certain tasks such as writing, designing, animation etc.
Webemployed has a great list of freelance sites that pay in cryptocurrency
Pros
- A great way to get cryptocurrency with zero risk
Cons
- You might not get the cryptocurrency you prefer
- Opportunities might be limited
