Breaking

Friday, June 29, 2018

Binance is about to open their first crypto/fiat exchange!

Just announced today, the good news is - the ability to exchange between fiat cash and cryptocurrency is finally coming to the top exchange, Binance.com

The bad news is... just for those in Uganda, for now.

While Binance.com is hands down the current exchange of choice for cryptocurrency traders, anyone's who's used it has dealt with the hassle of cashing out - you can't!  All you can do is send your crypto to an exchange that does.

So why just Uganda?  Binance, to their credit has a track record of not expanding to offer more than they can deliver.  In past articles (link) we've talked about them temporarily stopping new users from joining, so the site wouldn't become slow to their existing members. When they expanded their network capibilities, they allowed people to join again.

Uganda is likely being chosen for a similar reason - a small market to work out the kinks, basically a beta test so all the bugs are worked out before they're dealing with top global fiat currencies like USD and high demand.

To get people to participate they're even offering members in Uganda a month with no trading fees, and giving out over 10,000 of their official exchange coin 'BNB' as rewards.

You can read their full announcement here.

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Author: Mark Pippen
London News Desk