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June 29, 2018

Binance’s First Cash-to-Crypto Exchange Is Online and Accepting Registrations

By Daily Hodl Staff

Binance has just unveiled its first fiat-to-crypto exchange. Binance Uganda is designed to pair crypto with the Ugandan shilling.

The site is accepting new registrations now, although there is no date on exactly when trading will launch on the platform. Binance says the first 20,000 users to sign up will get 0.5 Binance coins (BNB) as a thanks for their support. One BNB is worth approximately $14.00.

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Binance founder and CEO Changpeng Zhao told Cointelegraph the new exchange has received a lot of support from the country’s regulators.

“Uganda [is a] really interesting situation, only 11 percent of the population has bank accounts. It’s both a challenge and an opportunity. So it may be easier to adopt cryptocurrency as a form of currency instead of trying to push for bank adoption. It’s an interesting experiment – Africa’s a big market, that’s why we’re there.”

Binance also plans to launch fiat-to-crypto trading exchange in the Mediterranean island nation of Malta. That platform will use the euro for its trading pairs. The company also hopes to offer similar services in Asia.

As for the original Binance exchange, the platform added Nebulas (NAS) to its list of coins today, pairing it with Bitcoin, Ethereum and Binance Coin.

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The exchange added SelfKey on Tuesday, paired with Bitcoin and Ethereum.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any losses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.