How to Buy Cryptocurrency in Uganda
Buying cryptocurrency in Uganda
Over the years, Uganda has experienced rapid growth in the cryptocurrency industry and blockchain technology, along with their various benefits. In legal terms, Uganda is one of the few African countries whose government has shown willingness to accept cryptocurrency and readiness to fully embrace blockchain technologies. Uganda is deemed a crypto-friendly environment. Proof of this lies in the fact that several cryptocurrency exchanges were launched in the country, including BitPesa, Coin Pesa and Binance Uganda, which is the biggest cryptocurrency exchange in the world in terms of trade volume. Furthermore, certain restaurants, hotels, and shops in Uganda accept cryptocurrency as a payment method. The citizens of Uganda have also witnessed various advantages that come with using blockchain technology. For example, cross-border transactions were also made much easier by use of blockchain technology in Uganda, allowing the circulation of assets abroad at very low rates, making it more accessible to citizens.
As of 20/03/2021
These exchanges all accept customers from Uganda. While they broadly offer the same services and you can buy cryptocurrency at all of them, there can be differences in transaction fees, security, verification requirements, deposit methods and features, as shown below
Kraken has a good reputation for security and protection of your funds and operates across the USA (except NY), Canada, the EU and Japan
- It can be used to trade against fiat options
- Robust security measures
- Free SEPA deposits in Europe
- Not a very beginner-friendly interface.
- No card deposit options