Summary
Ghana maintains a cautiously open stance toward cryptocurrency trading, though without explicit regulatory frameworks. The Bank of Ghana (BoG) oversees financial activities but has not yet established comprehensive cryptocurrency regulations. The Ghanaian Cedi (GHS) is supported by several major crypto exchanges. Popular payment methods include mobile money transfers, bank transfers, and credit cards. Here are the best crypto exchanges in Ghana:
Best Crypto Exchanges in Ghana
Ghana’s cryptocurrency market has evolved significantly, with several international exchanges now supporting the Ghanaian Cedi (GHS) and local payment methods. Mobile money transfers through services like MTN Mobile Money and bank transfers remain the preferred payment options for most Ghanaian traders.
1. Coinbase
Users:
100m
Free Demo:
Mobile App:
Bonus:
$10
Cryptos:
250+
Leverage:
5x
Spot Fees:
0.4%/0.6%
Futures Fees:
0.02%/0.05%
Pros
- Most beginner-friendly exchange
- Fully regulated and licensed
- Great customer support
- Reputable with over 100 million users
- Comprehensive fiat deposit methods
- Great wallet for on-chain access
Cons
- Lacks advanced features
- Very high spot trading fees
- Poor liquidity
Coinbase Overview
Coinbase is one of the largest and most well-known cryptocurrency exchanges for buying cryptos.The platform currently has a user community of over 100 million users worldwide. What makes Coinbase special is its user-friendly interface. The platform is designed to be easy to use, making it accessible for beginners. Coinbase offers a clean and intuitive interface for buying, selling, and managing cryptocurrencies.
Crypto traders have access to over 250 cryptos for active trading. One downside of Coinbase is the fee structure. When you place an order at the market price that gets filled immediately, you are considered a taker and will pay a fee of 0.60%, which is very expensive.
Another thing about Coinbase is that it offers a wide range of crypto services. These include wallets, NFT, crypto staking, Coinbase cards, and many more to help improve the overall trading experience on the platform. One of our favorite features is the Coinbase wallet.
It is suitable for beginners but also offers advanced trading tools including real-time charts, technical indicators, and many more for advanced traders.
2. Valr
Users:
500K
Free Demo:
Mobile App:
Bonus:
Earn a Share of 10,000 USDT
Cryptos:
107+
Leverage:
10X
Spot Fees:
0.40%/0.40%
Futures Fees:
-0.01%/0.1%
Pros
- Supports spot, margin, futures, and OTC trading
- Easy account setup and trading process
- Robust security measures and regulatory compliance
- 18-hour customer service and dedicated channels for businesses
Cons
- Primarily focused on the African market
- Advanced features may be challenging for beginners
Valr Overview
VALR is a cryptocurrency exchange serving 500,000 users, with a primary focus on the African market. The platform supports over 107 digital assets and offers multiple trading options including spot, margin, and futures trading with up to 10x leverage.
The exchange implements a competitive fee structure with -0.01% maker and 0.1% taker fees for spot trading. Futures trading fees are set at 0% for makers and 0.05% for takers. VALR provides additional revenue opportunities through referral commissions and liquidity provision rewards.
Security measures include mandatory KYC verification and regulatory compliance protocols. The platform offers staking and yield-generating products for passive income generation. Customer support operates for 18 hours daily, with dedicated channels for business clients. The mobile application enables trading on the go.
While VALR provides comprehensive trading features, the advanced functionalities present a learning curve for new users. The platform does not offer a demo account for practice trading. Geographic limitations restrict access primarily to African markets, and regulatory requirements vary across jurisdictions.
3. Bybit
Users:
40m
Free Demo:
Mobile App:
Bonus
$30,000
Cryptos:
600+
Leverage:
100x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.055%
Pros
- Low fees
- 600+ supported crypto assets
- 100x leverage and deep liquidity
- Advanced order types and additional features
- Great 24/7 customer support
- Automated copy trading
Cons
- Regulatory uncertainty in Europe and USA
- May be confusing for beginners
- Cryptocurrency investments carry high risks
Overview
Bybit stands out as one of the most advanced crypto exchanges with deep liquidity and low fees. Bybit users can trade Spot, Futures, Options, NFTs, and even Inscriptions. Additionally, Bybit offers copy trading and bot trading to automate your income streams. Bybit copy trading is one of the best in the crypto industry.
Where Bybit excels is its derivatives platform with 320+ perpetual futures contracts and up to 100x leverage. With advanced order types such as TWAP or Iceberg orders, Bybit caters to experienced traders seeking the best options.
On the spot market, Bybit supports over 500 cryptos and up to 10x margin, making Bybit a versatile crypto exchange.
With low fees of 0.1% maker and 0.1% taker for spot trading and 0.02% maker and 0.055% taker for futures trading, Bybit has highly competitive fees. To top it all off, Bybit offers fee discounts based on your 30-day trading volume. The more you trade, the more you save.
4. Kraken
Users:
10m
Free Demo:
Mobile App:
Bonus:
None
Cryptos:
220+
Leverage:
100x
Spot Fees:
0.25%/0.4%
Futures Fees:
0.02%/0.05%
Pros
- Very beginner-friendly
- Low futures trading fees
- Free demo trading
- Fiat supported
- 24/7 customer support
- Fully regulated
Cons
- High spot trading fees
- Lacks advanced features
- Poor liquidity for futures trading
- Complicated Demo trading
Kraken Overview
Kraken stands out as one of the most beginner-friendly crypto exchanges. With an easy to understand UI, simple features, and a straightforward approach, Kraken has onboarded over 10 million users to its platform from all around the world.
Spot traders can access over 220 cryptocurrencies for buying and selling. For traders seeking more buying power, Kraken offers a leverage trading platform with up to 50x leverage on selected assets such as BTC.
In terms of fees, Kraken has a different approach for spot and futures trading. While spot trading fees are relatively high (0.25% maker and 0.4% taker), the futures fees are very low (0.02% maker and 0.05% taker). Based on your 30-day trading volume, you can obtain additional fee discounts.
What we love about Kraken is its comprehensive fiat support. You can deposit funds using your credit card or bank transfer. Once you are done trading, you can withdraw fiat currencies such as EUR or USD back to your personal bank account to lock in your profits.
5. BingX
Users:
23m
Free Demo:
Mobile App:
Bonus
$6,200
Cryptos:
840+
Leverage:
125x
Spot Fees:
0.1%
Futures Fees:
0.02%/0.06%
Pros
- No KYC required
- 800+ assets (even stocks and forex)
- Up to 200x leverage
- Fiat supported
- Advanced order types
Cons
- Not available in the US
- No bot trading
- Traditional markets are B-Book
Overview
Founded in 2018, BingX is a derivatives exchange based in Singapore. The exchange has risen to global standards and now has offices in other major regions such as the EU, Canada, Hong Kong, and others. BingX currently boasts a user base of 10 million registered customers worldwide and is present in over 100 countries.
With an easy-to-navigate platform, BingX offers users 800+ cryptocurrencies, stocks, and forex to trade, with a smooth interface for trading spot or futures. BingX currently has a daily trading volume of $489 million for spot and $7 billion for futures.
Users of BingX can trade with flexibility and benefit from sophisticated trading tools such as order books, charts, and market data.
Trading fees on BingX are very affordable, starting at 0.02% and 0.05% maker and taker for futures trading, and 0.1% maker and taker for spot trading.
Is Crypto Legal and Regulated in Ghana?
Cryptocurrency operates in a regulatory gray area in Ghana. The Bank of Ghana (BoG) maintains oversight of financial activities but has not established a comprehensive regulatory framework for cryptocurrencies. In 2022, the BoG launched the e-Cedi project, demonstrating openness to digital currency technology while maintaining caution toward private cryptocurrencies.
The Securities and Exchange Commission (SEC) of Ghana issued warnings about cryptocurrency investments in 2019 but has not banned their trading. The country’s financial regulators focus on preventing money laundering and terrorist financing through the implementation of Know Your Customer (KYC) requirements for financial services.
The Financial Intelligence Centre (FIC) monitors cryptocurrency transactions for compliance with anti-money laundering regulations. Virtual Asset Service Providers (VASPs) must register with the FIC and implement proper customer due diligence measures. The Ministry of Finance has expressed interest in blockchain technology’s potential while emphasizing the need for regulatory safeguards.
Is Crypto Taxable in Ghana?
The Ghana Revenue Authority (GRA) has not issued specific guidelines for cryptocurrency taxation. However, existing tax laws apply to crypto-related income. Capital gains from cryptocurrency trading are generally subject to the standard capital gains tax rate of 15%. Business income derived from cryptocurrency activities falls under corporate tax regulations with rates ranging from 25% to 35%.
The Ministry of Finance requires taxpayers to declare cryptocurrency holdings and transactions on their annual tax returns. Key taxation aspects include:
- Mining income is subject to business income tax
- Cryptocurrency trading profits may incur Value Added Tax (VAT) at 12.5%
- International cryptocurrency transactions might trigger additional reporting requirements
Disclaimer:
Tax laws are subject to change, and individual circumstances may vary. It is strongly advised to consult with a qualified tax professional or financial advisor for personalized guidance on cryptocurrency taxation in Ghana.
How to Buy Crypto in Ghana
Buying cryptocurrency in Ghana involves several straightforward steps using established exchanges. Coinbase offers a reliable platform for Ghanaian residents with support for local payment methods.
- Select a cryptocurrency exchange that supports GHS and verify their payment methods and KYC requirements
- Register on the platform and verify your identity with valid Ghanaian ID.
- Fund your account using mobile money services (like MTN or Vodafone), bank transfer, or credit card.
- Select the cryptocurrency you wish to buy, such as Bitcoin, Ethereum, or USDT.
- Place your trade at the current market price.
- Move your acquired crypto to a secure wallet for safekeeping and long-term storage.
Best Crypto Wallets in Ghana
Ghanaian cryptocurrency users have a range of secure wallet options available. Hardware wallets like Ledger and Trezor offer top-level security for long-term storage. Mobile wallets like Trust Wallet and MetaMask provide ease of use for everyday transactions.
For active traders, Exodus offers a desktop solution with a user-friendly interface and built-in exchange features. Many local users combine wallet types, using hardware wallets for savings and mobile wallets for routine transactions.
Bottom Line
For Ghanaian cryptocurrency traders seeking the best crypto exchanges in Ghana, Binance leads the market with its extensive P2P marketplace, supporting GHS transactions and multiple local payment methods. MEXC serves as a strong alternative, offering competitive trading fees starting at 0.02% and advanced trading features tailored for the Ghanaian market. Both platforms prioritize security through robust KYC procedures and multi-layer security protocols, while maintaining high liquidity levels for GHS trading pairs.
