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Binance Uganda | Fiat Crypto Exchange Launching in Uganda

Binance Uganda: The world’s most active cryptocurrency exchange by trade volume, Binance, just announced that it would be opening its first exchange in Uganda.

According to the statement made on the company’s website, Binance told its users that it would be starting a fiat-crypto trading pair with the Uganda Shilling.

The statement reads:

“Binance is excited to announce our first fiat crypto exchange – Binance Uganda! Registrations for Binance Uganda will open from today, and the first 20,000 users to register on www.binance.co.ug will each be rewarded with 0.5 BNB.”

Binance will be offering users in Uganda a month of free trading, once the trading pairs come online. The date isn’t yet set for the launch of the trading pairs, but the company states it will be announced soon.

The total rewards for the promotion above are limited to 10,000 BNB. The rewards will be distributed on a first come, first serve basis.

Giveaway Rules

Binance made the statement that it has the right to amend or cancel this promotion at its discretion.

The rewards will be given out within two days of the official launch of the trading pairs. To see if you’re one of the winners, login to your account and access the ‘Distribution History’ within the Account Center.

ID verification must be completed to withdraw from Binance Uganda.

Financial Institutions in Uganda

Ugandans’ access to financial services has dramatically changed within the last few years. It was specifically driven by the digital inclusion through wide adoption of mobile money platforms.

According to a World Bank news report, more than half of the adults within Uganda have access to an account at a formal financial institution. This is double what it was just ten years ago. However, only about 15% of the same population keep their savings at these financial institutions.

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Binance Trading Resumes – Crypto Exchange Shares New Binance Info App

Binance – This morning, the world’s fourth-largest cryptocurrency trading platform, Binance underwent a system upgrade that temporarily halted all trades.

Trading was supposed to only last four hours, but with complications, ended up resulting in ten hours of downtime.

The upgrade was completed in seven hours, but then Binance’s risk management system detected a bug which resulted in a postponement of trades. During that time, Binance’s CEO informed the platform users that investors funds were safe.

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Back in Business – Info App

Binance trades and deposits began at 20:00 PM (UTC +8), but withdrawals were postponed until 1 to 2 hours after. Currently, the Binance platform seems to be running smoothly.

A tweet and Youtube video were recently deleted by Binance staffers about the platform’s new upcoming venture.

The video was uploaded and dated back to the 24th but showcased that Binance will be introducing its own information app. The YouTube video didn’t give specifics about what will be on the information app, but my guess is it will be similar news to that of Apple or Google news.

The information may be more centered around its Binance Coin (BNB) and news that will positively affect the site. I suspect any negative media will not be portrayed on the new app.

Currently, they are asking a limited amount of people to take part in their Beta testing of the app. If you are interested, click this link. It remains unknown when the official app will be released, but since it is already in its Beta stages it could be expected very soon. Hopefully, the company’s social media manager isn’t in too much trouble!

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