What Is Bitcoin?
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries
Which bitcoin wallet is used in Uganda?
Coinbase Support in Uganda | Coinbase. Sign up with Coinbase and manage your crypto easily and securely. Now available in Uganda and in 100+ countries around the world.
How do I open a bitcoin account in Uganda?
Simply visit web.yellowcard.io or download our mobile app from your app store and provide the required information.
This should less than 5 minutes. Once you have created your account, your UGX and bitcoin wallets will be activated. The next step is to fund your UGX wallet.
How to buy bitcoins in Uganda with MTN or Airtel Money
- Log into your BFX account on www.mybfx.co and click on New Transaction.
- Choose UGX in the “You sell” field and BTC in the “Recipient gets” field. Enter the amount of UGX you would like to sell or amount of BTC you would like (recipient) to receive.
- Click NEXT.
- Select your recipient by adding a new one or selecting one from your saved list. Click NEXT. Enter the mobile money number you’re going to use to pay. A payment prompt will be sent to your phone as soon as you complete the steps.
- Review and confirm payment details on the next page then click CONFIRM AND PAY.
- Make payment with your MTN or Airtel Money (the number you entered in the previous step).
- Bitcoins will be sent to the address as soon as you make the payment! Please allow some time for blockchain confirmations.
If you would like to buy bitcoins worth more than 4,000,000 UGX, please submit the request and we will contact you to provide bank transfer instructions.
When buying bitcoins with UGX, please follow these tips to prevent any unnecessary delays:
You can now make Ugandan Shillings payments in a better faster way. Every time you start a transaction to buy bitcoin, you will need to enter the mobile number you use to pay within the transaction.
Please do not pay before receiving a prompt on your phone on your MTN or Airtel Money. If you do not get one, please check your balance.
If you still have trouble, please contact us.
Currently we do not encourage transactions done after-hours as our trading desk is closed by then. You will likely get a different rate past 5.30PM.
To avoid this, always transact between 9AM and 5.30PM from Monday to Friday.
Ensure you make payment with the number on your profile. If you are using a different number to make payment, please add it on your profile first before making payment.
If you would like to buy bitcoins that are worth more than the mobile money limit (4,000,000 UGX on our platform), submit the request on the New Transaction page and we will provide bank details and rate after that. These transactions take a few hours to complete when done in the morning. You can also split the transaction into two for automated transaction via mobile money.
How do I sell bitcoins in Uganda?
- Log into your BFX account on www.mybfx.co and click on New Transaction. ( Please transact during business hours: 9 – 5.30PM, Monday – Friday)
- Choose BTC in the “You sell” field and UGX in the “Recipient gets” field.