Great News As Binance Plans on Adding Cash-Crypto Trading in Uganda...
It is great news as the world's biggest exchange Binance plans on expanding to Uganda!
It was the 24 May 2018 in the Africa Block-chain Conference where CEO Changpeng Zhao announced his plans of opening a Binance branch in Uganda.It seems all preparations are underway.
Main Challenge Facing On-boarding New Crypto Users!
In the small time i have been in crypto,one of the challenges we are facing is the conversion of crypto to fiat and vice versa!
I have experienced this myself as i took 4 months without knowing how to cash out my SBD to Ugandan Money.This is one of the challenges thats preventing massive adoption.
This is really a challenge we(Steemit promoters) face daily in our activities.
It is like people ask the
how do i withdraw my money subconsciously !
I have realized it is one of newbies fears...fear of failing to withdraw their hard earned money.
I do not blame folks for asking this withdraw question because they have really met a lot of scams.
They have either been scammed or at least know someone who was!
The example i have given above applies to Steemit,but also on other cryptos. There are many people in Uganda who now know about Bitcoin,but don't know how to buy it!
This is where exchanges come in,we have been having a few exchanges(to be in particular i only knew of one!) in Uganda.I am happy to say that many have cropped up and need serious marketing so that people can know them.
If you own an exchange and need marketing,contact me in any way you can!
Binance Is Entering The Uganda Exchange Scene
We all know(or if you didn't know,now you know!!!) that Binance is one of the biggest exchanges in the World.
It is seriously expanding and its now coming to my beloved country Uganda.In a recent interview with cointelegraph CZ said
We are setting up a fiat-to-crypto exchange in Malta and also in Uganda and, hopefully, in Asia as well “We are setting up fiat exchanges. That’s in progress now. I don’t know exactly when they’ll be up and running, but hopefully, this year.
I guess you saw that about well,for the new folks,fiat measn this traditional cash we use like the Uganda shilling.He is opening fiat-crypto exchanges in Malat and also in Uganda!
The fiat-crypto exchange means,an exchange that helps convert fiat to crypto! This will open up new people entering into the crypto scene
I hope Binance embeds mobile money to crypto.In Uganda many people have their money stored on phones unlike in the banks.
It would therefore be wise to enable transfer of money from mobile phone to the exchange!
We are all happy as Binance recognizes the crypto potential in Uganda.This has also put Uganda on the crypto map.
It is fascinating how many people did not kow about Ugnada until when CZ came to Uganda!
Let us the Uganda Steemians use this chance to develop our crypto communities!
For more info check this below
https://dailyhodl.com/2018/06/21/binance-just-getting-started-looking-to-add-cash-to-crypto-options-in-asia-and-uganda/
This has also put Uganda on the crypto map. We are all happy as Binance recognizes the crypto potential in Uganda.
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wow, thats great news for the pearl of Africa, @jaraumoses