Ghana has legalize the use of Bitcoin and crypto

[MinoRaiola]

If I remember correctly, Nigeria is the most active country in Africa when it comes to Bitcoin. Ghana is only 25-30 hours away with the car and Togo in between there. People in Afrika have different opportunities than people in Europe or America, generally. But they have the same chance to enjoy more freedom with Bitcoin. Good News, and I think many more countries in Africa will follow. And traveling to another country becomes easier, they can simply take more money (bitcoin).

[Rustam Meraj]

Ghana became first West African state to make bitcoin trading and cryptocurrency trading legal, Virtual Asset Service Providers Bill was passed and it has cleared long term legal unclear area and made country main digital money center in West Africa.

It is big law that will let about three million Ghanaians who already trade digital items with no fear of arrest and come up with license system under bank of Ghana to ensure that users are not tricked by bad acts and hiding of illegal funds.

Ghana is skipping normal banking systems and offers protection against effects of increasing local money prices by offering cheaper money transfers using methods such as Lightning Network, and mobile linked wallets to offer services to 40 percent of people without banks.

I think it is brilliant smartly planned way of getting tech talent and financial freedom such that African countries are doing their best when other countries are also slow to act, there is global change that will rebuild trade and financial access in next decade.

[Webutxo]

If I remember correctly, Nigeria is the most active country in Africa when it comes to Bitcoin. Ghana is only 25-30 hours away with the car and Togo in between there. People in Afrika have different opportunities than people in Europe or America, generally. But they have the same chance to enjoy more freedom with Bitcoin. Good News, and I think many more countries in Africa will follow. And traveling to another country becomes easier, they can simply take more money (bitcoin).

Ghana is around 15% of Nigeria population and they are politically stable than Nigeria. If you ask me why Binance left the space for their sanity, it's because the politics they played around their business trying to offer crypto service to Nigeria, not only them left OKx left top citing regulations concern and now we are left with few exchanges that are trying to keep up with good service but the politics isn't helping. The government want tax from Bitcoin and other coins but don't want to see crypto around.

The struggle is to make the government allow Bitcoin to strive in Nigeria, we may not see the acceptance of Bitcoin as legal tender but what is government without people. If the government see more interest in Bitcoin, they don't have choice than to accept it as legal currency. Nigerians are one of the most active people that buy and sell Bitcoin, they will one day give in.

[DeeppRockk]

If I remember correctly, Nigeria is the most active country in Africa when it comes to Bitcoin. Ghana is only 25-30 hours away with the car and Togo in between there. People in Afrika have different opportunities than people in Europe or America, generally. But they have the same chance to enjoy more freedom with Bitcoin. Good News, and I think many more countries in Africa will follow. And traveling to another country becomes easier, they can simply take more money (bitcoin).

Nigeria's adoption heavily leans toward P2P trading, which makes sense given their banking restrictions.

Reports from 2021 show P2P volumes hitting $1.5 billion quarterly, and it's only grown since. Ghana's catching up, but their infrastructure isn't as solid yet.

Togo is still figuring out the basics. Bitcoin adoption in Africa isn't uniform - it's really a mix of necessity and capability.

[casey15]

This is a bold and and good step, I wish my country did same...
I think most governments are now starting to see the need and the growth that Bitcoin can bring to them in the long run. Before now, so e African countries have laws that restrict the use of cryptocurrency and does not favour anyone that uses them ..maybe dur to the rise if fraud.. but now that they have seen the potential in it I hope other African countries follow suite. This will be a major breakthrough for citizens  and many who deals with crypto...
Truly Africa is coming and we will take over

[Kelward]

This is a good news for crypto users in Ghana, I'm truly happy for them, now they don't have to run their crypto transactions like it is something criminal because it's not. If they used to face harassments from law enforcement agents because they are crypto holders like it was in Nigeria, where youths that identified with cryptocurrency were seen as internet scammers. A lot of African youths are into cryptocurrency and the best thing any government can do in that regard is legalize it to boost the economy through crypto tax and  allow crypto business oriented people to have peace of mind. Cryptocurrency is not banned in Nigeria, but our government don't have a clear stance on cryptocurrency, let them learn from Ghana, and do the needful.

[snowpega]

This is a good news for crypto users in Ghana, I'm truly happy for them, now they don't have to run their crypto transactions like it is something criminal because it's not. If they used to face harassments from law enforcement agents because they are crypto holders like it was in Nigeria, where youths that identified with cryptocurrency were seen as internet scammers. A lot of African youths are into cryptocurrency and the best thing any government can do in that regard is legalize it to boost the economy through crypto tax and  allow crypto business oriented people to have peace of mind. Cryptocurrency is not banned in Nigeria, but our government don't have a clear stance on cryptocurrency, let them learn from Ghana, and do the needful.

Mate, there is no doubt that it is very good news for the people of ghana but aside from that, we should think one more thing, being users of this industry or space, that it is a good achievement for all of us. The more centuries will make it legal, meaning that more users will enter the bitcoin market so confidently, which, as a result, we will see the appreciation in its price tag, and one more thing is that these kinds of developments have a good influence on the global village, and seeing this any get inspired and start to consider this.

And if you look at the total progress of the crypto space, then we will notice that it is growing day by day, and the rules and regulations for the crypto space are getting relaxed day by day. Because there are many big companies globally entering the bitcoin market and as a result, it is winning more investors' trust in the global village.

[DeeppRockk]

This is a good news for crypto users in Ghana, I'm truly happy for them, now they don't have to run their crypto transactions like it is something criminal because it's not. If they used to face harassments from law enforcement agents because they are crypto holders like it was in Nigeria, where youths that identified with cryptocurrency were seen as internet scammers. A lot of African youths are into cryptocurrency and the best thing any government can do in that regard is legalize it to boost the economy through crypto tax and  allow crypto business oriented people to have peace of mind. Cryptocurrency is not banned in Nigeria, but our government don't have a clear stance on cryptocurrency, let them learn from Ghana, and do the needful.

This isn’t about freedom - it’s about cash. Governments want their cut, plain and simple. Ghana’s legalization is a win, sure, but it’s also a trap.

People still need to keep their crypto off exchanges and stay decentralized. If they smell profits, they’ll come knocking.

[bitterguy28]

If I remember correctly, Nigeria is the most active country in Africa when it comes to Bitcoin. Ghana is only 25-30 hours away with the car and Togo in between there. People in Afrika have different opportunities than people in Europe or America, generally. But they have the same chance to enjoy more freedom with Bitcoin. Good News, and I think many more countries in Africa will follow. And traveling to another country becomes easier, they can simply take more money (bitcoin).

both nigeria and ghana are developing countries so not as advanced as those of in europe or usa itself but their attitude towards crypto might actually be the one to drive them forward and finally help them stabilize their economy and solve their problems

[Haunebu]

Found out about this quite late, but I am really glad that more countries regardless of how big or small they are continue embracing cryptocurrencies in this manner. As they say, small drops accumulated over time come together to form an ocean.

This is one of those drops. Looking forward to seeing more and more countries legalizing crypto in this manner later on.

[Ahli38]

Found out about this quite late, but I am really glad that more countries regardless of how big or small they are continue embracing cryptocurrencies in this manner. As they say, small drops accumulated over time come together to form an ocean.

This is one of those drops. Looking forward to seeing more and more countries legalizing crypto in this manner later on.

Yes, that's right. Even the smallest changes can create significant changes if implemented consistently even if slowly. Bitcoin adoption will expand like an ocean as more countries accept it. I personally believe this is why it's so important to continue introducing Bitcoin to everyone. And communities are part of that change. In a small town in Ghana there's a community that embraces Bitcoin and even uses it as everyday money (Source). They built a learning center to empower young people through Bitcoin education. They seem serious about carrying out their vision and mission. They've even received Bitcoin donations for their impact on their community. I personally believe that anyone who embraces Bitcoin or even uses it well will reap the rewards in the future. And this is the beginning of those small drops, where it will bring good fortune.

[Rubuchi]

African is coming

Certainly, other African countries will likely join in legalizing Bitcoin. It's just a matter of time, we will get to see that coming to reality. We will then congratulate the African country, just as we did with Ghana today, for thinking it wise to legalize Bitcoin, which I feel is a step toward financial freedom for the people of Ghana

until we probably have a younger president in place, we should not have bitcoin legalization in mind because it is never going to work in my humble opinion. All these old people governing over us are not giving us any form of hope that should make us feel like something good was going to happen soon because until today they don’t see bitcoin as a currency that is adoptable at all but I believe all these old people cannot rule us for ever. A time will come the younger ones will overtake and make us proud with the adoption of bitcoin

[RockBell]

This is a good news for crypto users in Ghana, I'm truly happy for them, now they don't have to run their crypto transactions like it is something criminal because it's not. If they used to face harassments from law enforcement agents because they are crypto holders like it was in Nigeria, where youths that identified with cryptocurrency were seen as internet scammers. A lot of African youths are into cryptocurrency and the best thing any government can do in that regard is legalize it to boost the economy through crypto tax and  allow crypto business oriented people to have peace of mind. Cryptocurrency is not banned in Nigeria, but our government don't have a clear stance on cryptocurrency, let them learn from Ghana, and do the needful.

And it is good that the recognition is getting bigger in Africa, and we were late, and other governments have gotten to the point where they would have been encouraging their youths to invest in crypto and also organize training for them, and just imagine that it is now that they are legalizing, and the African government need to do better actually by supporting the movement of crypto, and before legalization people are not always free about there investment in crypto because people have a different mindset about it and now people will be free and now people this is what people want so that that they will be comfortable because that is exactly how it is suppose to be the backing of the government is very important and support also.

[Cleanslate_]

Source

So yeah, Ghana has just pass a law that legalize the use of Bitcoin and crypto.  Ghana has now joined the league of African countries that have legalized the use of bitcoin and crypto.


African is coming

This is a great achievement if only most of the African countries will do the same to help their economy control inflation and assist their country in providing job for the youths, because they will be fully involved in Bitcoin which will help them change their way of life making them to be an independent persons of the society, boost their economy and ease them form financial stress