Are you new to the Bitcoin or crypto space and looking to buy and sell bitcoin in Uganda?
Do you think that it is impossible to exchange your Bitcoin into cash or cash into Bitcoin in Uganda?
If you answered yes to any of the above questions, then this post is for you.
In this post I am going to talk about the Bitcoin exchanges that you can easily use to buy and sell bitcoin in Uganda using Mobile money
These are the exchanges I have personally used as a Ugandan in my 4 years in the crypto space!
I remember in the early days when I joined the Crypto space(mid-2017) we did not have an easy way of buying and selling bitcoin.
Let me now briefly talk about the exchanges that I have been using in these last years that use Mobile Money to buy and sell bitcoin.
Bitcoin Exchanges Where To Buy And Sell Bitcoin In Uganda Using Mobile Money
- Binance
- Yellow Card Uganda
- Local Bitcoins
I have made emphasis on Mobile Money because this is the easiest way we transact and do business here in Uganda.
Mobile money is a relatively new technology that helps most Africans to receive, store and send money using a mobile phone(feature or smart)
It is an alternative to banks as it is faster and more convenient and no technical knowledge is required hehe.
All you need to use Mobile is a Simcard(you can borrow the phone hehe) to use Mobile money and you can deposit or send money easily.
1. Binance
You can easily use Binance to buy and sell bitcoin in Uganda using Mobile Money.
Binance is the world's biggest cryptocurrency exchange.
All you need to do to buy or sell your Bitcoin is open up your Binance account by submitting your name and email, you will later be required to do something called KYC.
KYC in the finance world means Know Your Customer which in simple terms is verifying your identity according to Anti Money Laundering laws(AML).
Procedure To Buy and Sell Bitcoin on Binance
- Sign up on Binance
- Do KYC ie verify your identity with National ID or Passport
- Deposit Money using Mobile Money or deposit Bitcoin
- Buy Bitcoin or sell Bitcoin
I will write a detailed post on how to use Binance to buy and sell bitcoin soon.
2. Yellow Card Uganda
Another easy and convenient way to buy and sell bitcoin in Uganda using mobile money is through Yellow Card
Yellow card is the latest cryptocurrency exchange to enter the Ugandan crypto sphere and it even has lower deposit fees of 1.5%.
Steps on using Yellow card To Buy and Sell Bitcoin
- Create Account
- Fund Account(deposit cash or bitcoin)
- Verify Account(to increase trading limits)
- Buy and Sell Bitcoin
I will make a detailed post in the next few days to show exactly how to buy and sell Bitcoin using Yellow Cardexchange.
3. Local Bitcoins
This is one of the oldest peer to peer bitcoin exchanges whereby buyers and sellers are connected by the local bitcoin platform.
I used this platform a lot back in the day(2-3 years) as it is easy to use.
Procedure to Use Local Bitcoins to Buy and Sell Bitcoin
- Sign Up
- Send Bitcoin To Local bitcoin or Deposit Mobile Money
- Sell Bitcoin or used Mobile Money to buy Bitcoin
So if you are in Uganda and want to buy and sell Bitcoin, these are some of the exchanges that I have personally used and recommend any new person.
So what are you waiting for to buy and sell Bitcoin, sign up on Binance and Yellow Card now.
If you are want to learn more on how to exactly do this, feel free to contact me on Twitter on Jarau Moses, Facebook as Jarau Moses or Facebook Page Jarau Moses, Telegram as Jarau Moses.
Love
Jarau Moses