What is Bitcoin?
Bitcoin is a decentralized digital currency that can be transferred on the peer-to-peer bitcoin network.
Bitcoin transactions are verified by network nodes through cryptography and recorded in a publicly distributed ledger called a blockchain.
How To Buy Bitcoin In Uganda
The following steps below will help in buying bitcoin in Uganda
1. Binance
Binance is the world’s largest cryptocurrency exchange. Buy and sell Bitcoin and over 350 coins through its exchange with low fees.
Alternatively, buy anonymously from others through its peer-to-peer marketplace.
2.LocalBitcoins
LocalBitcoins is an established peer-to-peer marketplace, launched in 2012. Connect directly with others looking to buy or sell Bitcoin, through the website’s classified ads.
3. FTX
FTX is a cryptocurrency exchange built by traders, for traders. Buy or sell cryptocurrency, or bet on cryptocurrency prices rising or falling through futures, options, and other derivatives.
4. Huobi
Huobi is one of the world’s largest cryptocurrency exchanges. Buy and sell Bitcoin and over 300 coins through its exchange with low fees.
Alternatively, you can buy cryptocurrency with no fees at all through Huobi P2P, its peer-to-peer marketplace.
5.AAX
AAX is a cryptocurrency exchange trusted by over 2 million users. Buy and sell Bitcoin and over 60 coins through its exchange, or buy directly from verified merchants, through its peer-to-peer marketplace.
AAX accepts a wide range of payment methods, including PayPal.
How does Bitcoin make you money?
The Bitcoin network of miners makes money from Bitcoin by successfully validating blocks and being rewarded.
Bitcoins are exchangeable for fiat currency via cryptocurrency exchanges and can be used to make purchases from merchants and retailers that accept them.
What is the price of bitcoin in Uganda?
The current BTC/UGX exchange rate is 77566646.88. (Last updated on November 01, 2022, 18:15:04 UTC).
It means you will get UGX 77566646.8815 for 1 BTC or BTC 0.0128 for 1000000 UGX. Customize your own currency converter (multiple currencies, permanent link, etc.)
How do I open a bitcoin account in Uganda?
Below are how to open a bitcoin account in Uganda
Go to the App store (iOS) or Google Play store (Android).
Search and download Coinomi.
Open the app and write down your 24-words recovery phrase.
Set a strong password.
Add bitcoin to your wallet.
Use your receiving address to receive bitcoin.