With the increasing rage of cryptocurrency, Binance as one of the largest cryptocurrency exchange in the world is set to make its presence know in every nook and cranny of the world.
Founded in 2017, the company which was initially started in China later moved its operations and server to Japan when the Chinese government threatened to ban criptocurrency activities in the country. Not long after, in January 2018, Binance became the world largest cryptocurrency exchange platform.
By March 2018, Binance already has a presence in Taiwan. The Japanese government also at the time made the regulations for trading cryptocurrency more tightening that the company decided to start an office in Malta.
What is unique about the story of Binance is its well-traveled experience gained via moving from one country to another to establish what we have today as one of the most trusted exchange platforms for cryptocurrency in the world. Perhaps, the earlier tribulations of moving operations from base to base have turned into a glorious advantage for the company as it is now known for easily establishing its presence in any country it sets into.
2018 First fiat crypto exchange in Uganda
October 2018, Binance made a move into Uganda and it seems like a much-awaited development as the reception of the citizens was warming. In its first week, about 40,000 cryptocurrency exchange traders were registered on the Binance Uganda platform. The numbers are particularly impressive considering that over 74% of Uganda citizens are unbanked and as such, there are more customers to make the investment into the country worth it. In a bid to streamline its service, binnance which only offers crypto to crypto exchange in all of its other operation base decided to create a crypto-fiat trading environment to aid the seamless financial circulations of the Ugandan citizens.
The move was done in collaboration with local tech-payment service providers and is aiding Ugandans abroad to easily send value home from wherever they are especially in Kenya with the assurance that their family can access the money without any hassle.
The user interface of the Binance Uganda landing page is very interactive even to first-timers in the cryptocurrency world who at least understand English. At the far right corner on the top of the website are click boxes to register or login. Users who have not interacted with the platform before can click the login button to enter all necessary details and get ready to trade. Already registered users would simply click login, enter necessary details and simply transact. The current prices of Bitcoin, Ethereum and the Binance coin, BNB is shown legibly on the website.
The landing page also provides a three-step to getting started procedure for first-timers including
- Creating an account using the register button at the far right end of the top of the website.
- Linking the registered account to the users mobile money account to facilitate crypto-fiat transactions.
- Begin to transact; buy, sell and exchange.
At the lower part, a beginners video is available in case getting started still seems troubling. Binance generally boasts of being secure and reliable, being easy to use and having a 24-hour customer support system.
So, if you are from Uganda you can go to their website and buy you favorite crypto coins and use them on your favorite crypto sports betting platform.