Jul 15, 2020
10 Best Exchanges to Buy Bitcoin in Uganda (2020)
This post is for all the crypto lovers in Uganda! I will be showing the top 10 best platforms to buy bitcoin in Uganda.
Ugandans are presently dipped in the world of crypto. In fact, there has been an exponential day-to-day user growth of bitcoin in the country.
I curated a neatly-filtered list of 10 best exchanges in Uganda.
The list comprises the names of well reputable Bitcoin exchanges across the world.
So, if you are ready…let’s go find this list.
Post Summary
This post will be summarized in the sub-headings below;
Now, let’s get to the main business.
10 Best Bitcoin Exchanges in Uganda
I did a review of more than 20 Bitcoin exchanges in Uganda to come up with this list.
The list is not arranged in a particular order.
Now…legoooo!
1. Luno Team Luno
Luno was founded in Singapore in 2013 as Bitx but rebranded to Luno in 2017, when the company’s popularity grew exponentially.
The exchange, when compared with other bitcoin exchanges, has the best friendly user- interface.
If you are a crypto lover in Uganda but still new to the world of crypto, then, you must make your first crypto purchase from Luno.
2. Binance Binance
Binance is a good exchange to buy bitcoin in Uganda.
As at the time of this post, it is the largest crypto exchange in the entire world by trade volume.
Binance offers a lot of services with a plethora of tokens.
The sole owner of this exchange is a young man known as Changpeng Zhao.
He founded this exchange in the year 2017 but the popularity of this exchange has since then grown like a wildfire.
On June 28, 2018, Binance extended its footprint to Africa and established Binance Uganda as an arm of Binance and listed the Ugandan Shillings (UGX) on its exchange.
Ever since then, Ugandans can now buy BTC, ETH, BNB and five other cryptos.
3. Coinbase Coinbase
Coinbase is a fully regulated and licensed crypto exchange located in San Francisco.
It is one of the oldest and biggest bitcoin broker in the World.
The exchange started up in 2012; providing only brokerage services but added additional services like Coinbase Pro, etc. some years later.
4. Remitano Remitano
Remitano is a peer-to-peer exchange with a wonderful user interface.
it is the safest peer-to-peer exchange anyone can trade bitcoin when compared to other peer-to-peer exchanges.
This exchange was founded in 2016 and it is currently used by 58 countries.
5. Paxful Paxful
Paxful is peer-to-peer crypto exchange founded in 2015 by Ray Youssef and Arthur Schabacks.
It allows buyers from different parts of the world to connect to multiple sellers using over 300 payment methods.
Paxful is being regarded as the ‘Uber of Bitcoin’ because of the ease it brings to the purchase and sales of BTC.
6. Localbitcoins LocalBitcoins.com
Localbitcoins is another good exchange that you can buy bitcoin of any amount using about 30 payment methods.
Founded in 2012; is a peer to peer exchange just like Remitano and Paxful.
LocalBitcoins is the greatest rivalry of Paxful and has about 30 payment methods available.
7. Huobi Huobi Pro
Huobi is a crypto exchange founded in 2013.
As at the time of this post, it ranks 2nd in the list of “Top Cryptocurrency Spot Exchanges” by Coinmarketcap.
More so, the exchange provides you with a handful of services and makes it very easy for you to navigate through its platform.
Find other Huobi features in the table below;
8. Kraken Kraken Exchange
Kraken is a crypto exchange founded by Jesse Powell in 2011 and is based in San Francisco, US.
The exchange is one of the oldest bitcoin exchanges that is secure, reliable.
It is popularly known as the exchange with the highest Euro trading volume.
Kraken has a very strong support system and is very cautious of its user’s security.
However, unlike the traditional exchanges, Kraken only offers advanced trading features for crypto experts.
9. OKCoin OKCoin
OKCoin is a global crypto exchange that was founded by Star Xu; who happens also to be the owner of a solid reputable exchange OKEX.
This exchange was founded in 2013 in Beijing, China but it is currently headquartered in San Francisco.
OKCoin allows you to swap two fiat currencies for over 15 cryptocurrencies.
The platform is tested and trusted by millions of users. it uses an anti-fraud technology to secure users’ accounts and funds from hackers.
Whether as a beginner or expert, this exchange provides you with a simple and easy experience in the crypto trading.
10. Bitpesa
Bitpesa is one of the popular crypto exchanges to buy bitcoin in Uganda.
The company was founded by Elizabeth Rossiello in 2013.
This platform happens to be the first blockchain company to be licensed by the UK’s Financial Conduct Authority.
It functions as a bitcoin exchange and as well as a payment platform focusing on African countries.
You can buy any amount of Bitcoin on this platform using mobile money account when you go to MyBFX.co.
11. Bitcoin ATMs
Ugandans can now buy bitcoin from the Bitcoin ATM available in Kampala!
Bitcoin ATM is a machine that allows you to buy bitcoin physically with UGX (cash).
It is just like the traditional ATM that you know, however, it functions differently.
If you want to buy using a Bitcoin ATM, you will have to put in your money inside the machine in order to get bitcoin in your BTC wallet.
Now that we have gotten the complete list of the best bitcoin exchanges in Uganda, let’s go and find out which is the best.
Which is the Best Bitcoin Exchange to Buy Bitcoin in Uganda?
There are no hard and fast rules to finding out the best exchange on my list.
This is because I have given you the names of high profile and secured exchanges with the best services and offers.
However, each of these exchanges have its own features and unique use case.
So, in order to find the exchange that is best suitable for you, you will have to consider these;
- Motive — Am I buying to trade, store, or shop?
- The supported cryptocurrencies — does the exchange have the coin I want to buy?
- Payment Methods — Is the available payment method convenient for me?
- Fees — How does the fee compare with that of the other exchanges?
- Security and the Volume you would like to trade.
Using myself as an example;
Binance, Coinbase, and Luno will be the best option for me if I want to buy bitcoin instantly as they give you the best experience for crypto purchase.
Binance, OKcoin, Kraken, and Huobi for me are the best exchange to trade bitcoin in Uganda as they provide the best trading tools for trading profitably.
Remitano, Paxful, and LocalBitcoins on the other hand allow you to buy a huge amount of bitcoin at a very good stable price.
That said…lets look at the next subheading.
The State of Bitcoin in Uganda
Bitcoin is currently revolutionizing the financial status of Ugandans.
Crypto trading is blooming and very soon enough Bitcoin could become a wonted financial autonomy for an average citizen.
As a matter of fact, an average youth of 20 has already started stacking bitcoin in his wallet and selling them for a profit.
The reason for this spike can very much be attributed to the very high record of unemployment- more than 70% of Ugandan youths are unemployed.
Moreover, the majority of those employed end up in a low salary fee income and this totally redirects their interest into crypto trading.
The traditional banks are not helping to smoothen things at all as their transaction fees are very high and a total rip-off.
In fact, the majority of Ugandans are unbanked.
Talking of making a cross-border remittance, the Western Union and MoneyGram sweep the people of their money and it is in no way fast.
In the light of these deficiencies, bitcoin has revamped the remittance market and is bringing food and smiles in the table and faces of Ugandans.
As of today, the country is popularly known as one of the most crypto-friendly countries in Africa.
Bitcoin Exchanges in Uganda|Conclusion
This is it for the list of “Top Ten Exchange” available in Uganda!
If you have carefully followed this list, you would have noticed that the list contains the name of highy creditable exchanges.
Yes, I am very positive that it does!
So, having given you the list of the ten best exchanges in Uganda and the state of bitcoin in Uganda, I am optimistically expecting a reply from you.
Alright, here we go…
Have you used any of these exchanges? What was your experience?
For the newbies — Did this post boost your motivation to buy bitcoin from any of the listed exchanges?
Finally, considering the state of cryptos in Uganda presently, do you see them thriving in the country in future years?
I hope to see your comments below and please do not forget to click on the share buttons.
Cheers!
P.S
If you want to learn how to trade cryptocurrencies profitably, we developed a perfect course to help you master Cryptocurrency Trading.
Go to www.ctmastery.com to enrol.
Also Read:
Originally published at https://www.nigeriabitcoincommunity.com on July 15, 2020.
