How To Buy Bitcoin With Mobile Money In Uganda

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.

How To Buy Bitcoin With Mobile Money In Uganda

You can own a Bitcoin in Uganda shillings with your mobile money account via Binance and we will show you how. As the title says, how to buy Bitcoin with your mobile money in Uganda.

The purpose of this article is to make it possible for the 20 million mobile money subscribers in Uganda to have an opportunity to own Bitcoin or cryptocurrency.

Mobile money has been present in Uganda for quite some time now, for about 10 years now this new way of cash transaction called mobile money was introduce to make the economy of Uganda cash lite. This payment method is now the preferred payment system for many in the country.

As bitcoin begins to gain global recognition, many in Eastern African don’t want to be left as there are questions of how they can buy bitcoin in their country (Uganda) with their preferred payment system, thus the mobile money.  

We will give you the details on how to buy bitcoin in Uganda with your mobile money using the Binance platform.

How to Buy Crypto or Bitcoin With Your Mobile Money On Binance

Binance, a cryptocurrency exchange company making it possible to buy bitcoin or crypto in Uganda with mobile money. So here are the steps to buy crypto or bitcoin on Binance in Uganda;

List of steps involved;

  • Sign up on Binance
  • Go to your wallet and type “Ugandan Shillings (UGX)” in the search bar
  • Click on deposit.
  • Enter your payment details to complete the transaction.
  • Go to “Buy Crypto tab” select “Cash Balance”

Sign up for your account

You cannot buy crypto on Binance if you don’t have an account with them. So you will need to download the Binance App or visit the Website here to get started.

 You will have to provide your details such as your phone number or email to start with the signing up, after that verify your phone number or email.

For Binance to validate your account and secure it, you will be required to complete Know Your Customer (KYC) process which Binance will ask for your Government-issued ID like your passport or driver’s license. Please note that this is to help Binance verify your identity

After completion, your account will be ready to buy crypto or Bitcoin with your mobile money in your country Uganda.

  1. Make a deposit via Mobile Money

You’re done with the sign-up and you have verified your account too, the next step is to make a deposit of Ugandan Shillings in your Binance account via your mobile money.

  • Simply go to your wallet, Search for “UGX” click on it, select deposit when you see Ugandan shillings comes up.
  • Select mobile money option as your deposit method.
  • Enter the amount of money in shillings you want to deposit, then click continue
  • Follow the instruction to complete your transaction
  1. Buy Bitcoin or any crypto you want to

After you’re done with steps 1 and 2, the 3rd step which is buying Bitcoin or crypto is the easiest. You can now buy bitcoin with your mobile money through Binance web app, mobile version, or desktop application.

It’s simple, here is it.

  • Click on “Buy Crypto” on the navigation bar and select “Cash Balance” from the dropdown menu.
  • Then select “fiat currency” on the page
  • Select Uganda Shillings as your currency
  • Enter the amount of bitcoin you want to buy in Uganda shillings (UGX)
  • Click on “Buy BTC” to finish

How to withdraw bitcoin with Mobile Money in Uganda?

  1. From your dashboard, select withdraw.
  2. Select Mobile Money.
  3. Enter the amount you want to withdraw.
  4. Enter your mobile phone number and Mobile Money provider.
  5. Confirm the withdrawal details and input your 4-digit PIN.
  6. Your money will be instantly sent to your mobile number.

This brings us to the end of this article.  Like we noted in the introduction, is easy to buy bitcoin or crypto in Uganda with mobile money. We hope these steps are enough for you to own your first bitcoin in Uganda.

How do I put money into my Bitcoin account?

  1. Tap the Bitcoin tab on your Cash App home screen.
  2. Press Deposit Bitcoin.
  3. Scan, copy, or share your Cash App Bitcoin address with an external wallet.
  4. Confirm with your PIN or Touch ID.