Back in late June, the team at Binance had announced their intentions of open operations in Uganda. The main goal of opening an exchange in the African country, was that Binance wished to expand its reach not only in the developed countries, but to those less developed and with the potential to grow into thriving markets.
When the announcement was made back in June, registrations were open immediately with the first 20,000 users to register on www.binance.co.ug, being rewarded with 0.5 BNB. The team at Binance also promised zero trading fees as soon as the platform was live and running.
Trading Now Open and Not Limited to Ugandan Residents
It is with this background, that the Binance team wishes to let the crypto trading community, that full sign-ups and deposits are now live on the platform. The announcement goes on to state that full trading will open on the 17th of October with Bitcoin (BTC) and Ethereum (ETH) being paired with the Ugandan Shilling. The announcement stated the following.
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).
Trading on Binance Uganda will open soon with BTC/UGX and ETH/UGX trading pairs. The start time for trading will be released in a later announcement
Note: Ugandan Shillilng (UGX) is the currency of Uganda.
Thanks for your support!
Binance Uganda Team
The team also wishes to clarify that the new platform is not limited to residents of Uganda. Anyone can sign up to use the exchange using the usual KYC (Know Your Customer) procedures.
Additional Telegram Group for Binance Uganda
The Binance team have also tapped the popular messaging platform of Telegram, to provide a chat group where new users can ask questions regarding registrations and other costumer related issues.
What are your thoughts of Binance opening a platform in Uganda? Will this open crypto trading in the continent of Africa? Please let us know in the comment section below.