Home News Exchange Binance Announces Launch of Fiat-Crypto Exchange in Uganda

Binance Announces Launch of Fiat-Crypto Exchange in Uganda

October 23, 2018 08:15
The screenshot of Binance Uganda website

The expansion of Binance is continuing from a steady pace despite the bear market. After expanding to Liechtenstein in August now company has announced the beginning of its operations in Uganda. In a short blog post published 3 hours ago company said that it will open trading for BTC/UGX and ETH/UGX pairs on 24th of October. The deposits are already live, and those who want to get started on the first day itself can deposit their money from now on. Trading rules and fees are as follows:

Trading Rules

NO Pair Min Amount Unit Min Price Unit Min Order Value Unit
1 BTC/UGX 0.000001 BTC 100 UGX 10000 UGX
2 ETH/UGX 0.00001 ETH 100 UGX 10000 UGX

Fees

The fees on Binance Uganda will be as follows:

Fee structure
Source: Binance Uganda website

Recently company also partnered with Chainalysis to integrate a new fraud detection software with its systems. The company also conducted live money beta testing of its Singapore Fiat Exchange on 18th of September, and made its first acquisition in the form of Trust Wallet. It’s also working on a decentralized exchange project. The launch of this Uganda exchange was first announced in June, and the company took almost 4 months to launch it. It will be worth seeing which other countries become the next expansion targets for the company.

Technology and business were my core interests, so it wasn't surprising that I got interested in cryptocurrencies, which operate at the intersection of both these things. Now I live my passion by trading cryptocurrencies and covering Cryptocurrency news. You can connect with me on Facebook to learn more about me. :)

LEAVE A REPLY

Please enter your comment!
Please enter your name here