Full signups and deposits are now live on the Binance Uganda platform. The Binance team had announced that full trading will be open Today, the 17th of October with the Ugandan Shilling (UGX) being paired with Bitcoin (BTC) and Ethereum (ETH). The Binance team also announced that the platform is not restricted to Ugandan users alone. The exchange is open to anyone using the usual KYC (Know Your Customer) procedures.
Binance had earlier in June announced its intentions of starting operations in Uganda. The company aimed to expand its reach not just to developed countries alone but to less developed countries. By opening an exchange in the African country, Binance Is giving less developed countries with potentials, an opportunity to grow into thriving markets. Binance made the announcement back in June and the first 20,000 users to register on www.binance.co.ug were rewarded with 0.5 BNB. Users also promised zero trading fees as soon as the platform was live and running.
Uganda users can now start depositing funds in UGX, BTC and ETH starting from 10:00 AM Uganda Time (EAT).
Binance Uganda is the first local fiat-to-crypto exchange in the East African nation and marks a milestone in Binance’s push into the African market. Binance Uganda users can now complete full account verification and are able to start depositing funds in UGX, BTC and ETH starting from 2018/10/17 10:00 AM Uganda Time (EAT). Binance had managed to penetrate the Ugandan market. Prior to the launch of Binance Uganda, very few options were available for users convert their shillings into bitcoin or other digital assets. Ugandans had to rely WhatsApp and Telegram to trade on a peer-to-peer basics.
The official announcement states,
We are delighted to announce the official launch of Binance Uganda Exchange: www.binance.co.ug
Users are now able to complete full account verification in the User Center after logging in.
Deposits for Ugandan Shillings (UGX), BTC and ETH will open starting from 2018/10/17 10:00 AM Uganda Time (EAT).”
What do you think about Binance Uganda? Share your opinion with us in the comment section below.
Image credit: Pixabay
The Information provided on the website is designed to provide helpful information regarding cryptocurrency subjects. The content is not meant to be used, nor should it be used as a basis, foundational knowledge or prerequisite for decision making regards trading. Always do your own research and due diligence before placing a trade. We are not liable for any outcome based on any content found on the site.
VanEck to Give Clients Access to Crypto by Offering a Solana ETF
Solana based DEX, Orca Closes $18M Series A Round
We don’t expect all businesses to adopt e-Naira –CBN
We chose Bitt Inc for the e-Naira because of Capacity & Experience – CBN
KB24 Launches NFTs Collection in Memory of Kobe Bryant, Proceeds to be Given to Charity
President of Turkey Says the Country is at War with Cryptocurrencies
Monetary Policy has been replaced with tyranny; e-Naira will be a flop – Chiagozie Iwu
El Salvador Adds Fresh 150 Bitcoins as BTC Price Slides
10 Days after Adopting Bitcoin, El Salvador Records 17% Adoption for its Wallet Chivo
Watch the Latest Edition of Inside Blockchain – 29th Nov. 2020
Crypto Roast is LIVE – 27th Nov. 2020
AMA Series with Beam CTO & Tech Lead, Alex Romanov
Keep it Locked on to Cryptotvplus
Inside Blockchain | 16.11.2020
Inside Blockchain: WHY YOU SHOULD BECOME A BLOCKCHAIN DEVELOPER
How Blockchain Technology Can Transform Governance In Africa
E-naira Project Award to BITT Raises Regulatory Questions
The Central Bank of Nigeria’s e-naira Project has generated a number of questions lately. The most recent is the contention...
Ecosystem Growth Fund: The newest ways to market and promote blockchain platforms
Fantom, Harmony, Algorand & OKEx has in less than a month announced a billion dollars fund to boost development on...
TOKEN2049 Returns for In-Person Event this October in London
Highly anticipated conference at the forefront of the digital assets space marks the return of one of the first major...
OKEx Launches Super Affiliate Program
Are you a KOL or content creator in the crypto space? Do you want to boost your earning by introducing...
Influencers Are the Drive behind NFTs Popularization – Karla Obarkpolor
The founder of NFT marketplace Qlipit and Crypto Asset Management Company, Crypto Smart has stated that influencers have played big...