Binance Uganda was the first fiat-to-crypto platform launched by Binance in June 2018, allowing users in Uganda to access cryptocurrencies with UGX and spearhead crypto services throughout Africa.
The world’s leading cryptocurrency exchange, Binance.com (www.binance.com), now offers its users the ability to deposit UGX through its payment channels on Binance.com. Binance remains committed to providing secure and quality crypto services to Ugandan users. Through this alternative channel on Binance.com, users will be able to access higher liquidity, more expansive withdrawal and deposit limits, and a more seamless KYC process.
With Binance.com offering a greater number of services with UGX, Binance Uganda will close its operations to centralize its services for Ugandans users on one platform.
Binance Uganda thanks our loyal users for using our services and would strongly encourage everyone to use Binance.com going forward for all their cryptocurrency and trading needs.
The closing of the Uganda exchange will take place in three distinct phases:
Phase 1: Closure of Deposits and New Registrations: 28th October, 2020
- Binance Uganda will close registrations, as well as UGX and cryptocurrency deposits, on 28/10/2020 at 08:00 UTC.
- Users will still be able to trade all crypto tokens.
- Users will still be able to withdraw their funds via UGX (mobile money).
- Users will still be able to withdraw their cryptocurrencies.
Phase 2: Closure of all Trading Services: 11th November, 2020
- All trading activities on Binance Uganda will cease at 23:59 UTC on 11/11/2020.
- Users can no longer buy and sell crypto from 11/11/2020.
- Users may still login and access their accounts with Binance Uganda in order to withdraw their funds via UGX (Mobile Money), as well as their cryptocurrencies.
Phase 3: Hard Shutdown (Anticipated): 28th November, 2020
- It is anticipated that the Hard Shut-Down of Binance Uganda will be on 28/11/2020 at 23:59 UTC.
- After the Hard Shut-Down it will not be possible for users to login or access their accounts with Binance Uganda.
We strongly recommend you to transfer your UGX and cryptocurrency holdings out of Binance Uganda by no later than 23:59 UTC on 27/11/2020.
Please note that if any crypto balances are insufficient to cover the relevant blockchain transaction fee which would be incurred to transfer such balances, those balances will regrettably be lost to the users concerned. The aggregate of all such balances (or a UGX sum equivalent thereof) will be donated by Binance Uganda to Binance Charity (www.binance.charity/about), a non-profit organization dedicated to achieving global sustainable development by unlocking the power of blockchain.
We apologize for any inconvenience and appreciate your understanding. Our Customer Support Team will be available throughout the offboarding process to ensure that this is a smooth process.
Thank you for your support.
The Binance Uganda Team
Disclaimer: Binance Uganda will close its deposit operations on 28th October 2020. Please DO NOT deposit any cryptocurrencies to your wallet address provided by our platform (“Your Wallet”) by any method after Closure Time. Any deposit to your wallet after Closure Time will NOT be deemed as receiving by Binance Uganda and CANNOT be withdrawn. Binance Uganda is NOT liable for any damages arising in contract, tort or otherwise from such deposits.
Article is closed for comments.