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Cryptocurrency is here to stay and just like other nations, Ghana, seeks to tap into the growing

demand and use of cryptocurrencies.

Despite the relatively widespread use of cryptocurrencies in Ghana, people hardly trust

transactions that are based solely on peer-to-peer and blind trust.

The Bank of Ghana has taken notice of recent developments in the use, holding, and trading of

virtual or digital currencies (also known as cryptocurrencies), such as Bitcoin.

The Bank of Ghana is currently investing a lot of resources to further enhance the payments

and settlements system, including digital forms of money, and also to introduce cyber security

guidelines to safeguard electronic and online financial transactions

There currently is an ongoing revision that should bring the electronic payments space up to

date to international standards and aligned with the evolving global electronic payments

landscape.

 

It is for this reason that Mybitstore limited, a Ghanaian tech developer, has developed an

application that enables cryptocurrency traders across the world to trade cryptocurrencies

using its secured escrow system.

The app, named mybitstore, is intended to serve the following purposes

1. Buy, sell, send, receive, store, convert bitcoin to mobile money and convert mobile money to bitcoin.

2. Convert unused gift cards to bitcoin and bitcoin to gift cards.
3. Mybitstore provides a free bitcoin wallet to users.
4. Accepts over 250 payment methods some of which include mobile money (Tigo cash,

Vodafone cash, MTN), bank transfers, cash in person, Chipper cash, Paypal, Perfect Money, and

Western Union.

 

Safety

At the core of every financial transaction are trust and security; the app is built to erase all

doubts and safety concerns by employing the following features

1. Before you sell any of the tradable cryptos, mybitstore keeps the bitcoin in its secure escrow
2. Through the ‘raise dispute’ feature mybitstore moderates all transactions having

discrepancies to achieve smooth and successful trades.

3. Mybitstore app provides traders the opportunity to write reviews for trade partners, rate

trade partners, and above all block trade partners.

Mybitsore app can be downloaded on the Google Play Store and the Apple App Store