{"id":2974,"date":"2018-10-16T09:59:54","date_gmt":"2018-10-16T09:59:54","guid":{"rendered":"https:\/\/atozcrypto.org\/?p=2974"},"modified":"2018-10-16T10:00:48","modified_gmt":"2018-10-16T10:00:48","slug":"binance-uganda-to-begin-accepting-deposits-in-ugandan-shilling-btc-eth","status":"publish","type":"post","link":"https:\/\/atozcrypto.org\/binance-uganda-to-begin-accepting-deposits-in-ugandan-shilling-btc-eth\/","title":{"rendered":"Binance Uganda to Begin Accepting Deposits in Ugandan Shilling, BTC & ETH"},"content":{"rendered":"
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First published in ccn.com Tues 16th Oct 2018<\/figcaption><\/figure>\n<\/div>\n
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\u00a0Binance<\/a>\u00a0has made another step towards facilitating cryptocurrency trading in the East African country.<\/h4>\n

Months after announcing the launch of Uganda\u2019s first-ever fiat-crypto exchange,\u00a0Binance<\/a>\u00a0has made another step towards facilitating cryptocurrency trading in the East African country.<\/p>\n

Beginning October 17, users will be able to make deposits to Binance Uganda in the leading cryptocurrencies bitcoin and\u00a0ethereum<\/a>\u00a0as well as in Ugandan Shillings. This will allow trading in bitcoin to Ugandan shillings and vice versa as well as ethereum to Ugandan shillings and vice versa. However, trading in the BTC\/UGX and ETH\/UGX pairs will not commence immediately and will be announced at a later date.<\/p>\n

\u201cTrading 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,\u201d the cryptocurrency exchange wrote in a\u00a0statement<\/a>.<\/p>\n

User Verification<\/strong><\/h2>\n

Additionally, Binance has also announced that full account verification of users has now been enabled.<\/p>\n

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Binance\u2019s foray in\u00a0Uganda<\/a>\u00a0is part of the crypto exchange\u2019s plans to expand on the African continent which possesses one of the youngest populations on the globe. As CCN reported last month, the cryptocurrency exchange which was founded in China but which is now headquartered in Malta, sees huge\u00a0growth opportunities in Africa<\/a>. One of the reasons for this optimism is the lowest penetration of banking and financial services on the continent.<\/p>\n

\u201cIn Sub-Saharan Africa, only 43% of people aged 15+ own a bank account versus a global average of 69%,\u201d wrote Binance Labs director, Benjamin Rameau, in a blog\u00a0post<\/a>\u00a0last month. \u201cIn some areas such as South Sudan the ratio is as low as 9%.\u201d<\/p>\n

Additionally, with Africa being home to a relatively high number of countries which have experienced or are experiencing high inflation levels, deflationary cryptocurrencies are likely to be highly appealing thereby placing a like Binance in a strategic position to reap the benefits.<\/p>\n

Expansion in Asia\"\"<\/a><\/strong><\/h2>\n

Outside of Africa, Binance last month revealed that they had begun beta testing of a\u00a0fiat-crypto exchange in Singapore. However, users would only be admitted by invitation and this started almost a month ago.<\/p>\n

\u201cI just slipped that we will begin #Binance Singapore fiat exchange live money closed beta testing on Sept 18th, in 3 days.\u00a0 Invitation only first.\u00a0 Exciting!\u201d the founder and CEO of Binance, Changpeng Zhao, wrote on Twitter last month.<\/p>\n

In July Binance also announced that it would be\u00a0entering South Korea\u00a0depending on the progress made with regards to policy. At the time there were reports coming out of the Asian country that the government had plans of regulating cryptocurrency exchanges in a similar fashion to traditional financial institutions.<\/p>\n

Source:\u00a0https:\/\/www.ccn.com\/binance-uganda-to-begin-accepting-deposits-in-ugandan-shilling-btc-eth\/<\/p>\n

Featured image from Shutterstock.<\/em><\/p>\n

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Advertisement \u00a0Binance\u00a0has made another step towards facilitating cryptocurrency trading in the East African country. Months after announcing the launch of Uganda\u2019s first-ever fiat-crypto exchange,\u00a0Binance\u00a0has made another step towards facilitating cryptocurrency trading in the East African country. Beginning October 17, users will be able to make deposits to Binance Uganda in the leading cryptocurrencies bitcoin and\u00a0ethereum\u00a0as …<\/p>\n","protected":false},"author":1,"featured_media":2976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"pgc_meta":"","_bbp_topic_count":0,"_bbp_reply_count":0,"_bbp_total_topic_count":0,"_bbp_total_reply_count":0,"_bbp_voice_count":0,"_bbp_anonymous_reply_count":0,"_bbp_topic_count_hidden":0,"_bbp_reply_count_hidden":0,"_bbp_forum_subforum_count":0,"om_disable_all_campaigns":false,"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[15,20],"tags":[],"aioseo_notices":[],"yoast_head":"\nBinance Uganda to Begin Accepting Deposits in Ugandan Shilling, BTC & ETH - AtoZcrypto<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/atozcrypto.org\/binance-uganda-to-begin-accepting-deposits-in-ugandan-shilling-btc-eth\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Binance Uganda to Begin Accepting Deposits in Ugandan Shilling, BTC & ETH - AtoZcrypto\" \/>\n<meta property=\"og:description\" content=\"Advertisement \u00a0Binance\u00a0has made another step towards facilitating cryptocurrency trading in the East African country. 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