The cryptocurrency phenomenon has taken the world by storm, with exponential growth in the past few years. Whether it’s Bitcoin, Ethereum, Ripple, or another altcoin, it’s impossible to deny how important these currencies are becoming the future of how we buy and sell goods and services. So, if you’re looking to be ahead of the curve and get into cryptocurrencies right now before they become more mainstream, then you’ll need to download one of these cryptocurrency apps in Uganda before it’s too late! Here are our picks for the best crypto apps available in Uganda right now.
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Binance
If you’re looking to trade cryptocurrencies on a centralized exchange, then Binance is likely your best option. Users have access to a robust set of trading tools, multiple order types, and even margin trading. Binance is also one of a few exchanges that offer mobile apps. Although it’s based out of China and only has the English language support at the moment, it has some of the most advanced security features in its market.
While users are still required to create an account on their website, they do not need to store any information on their servers or give up their data by using Binance services. Instead, all sensitive information is encrypted and stored locally on each user’s device. This makes it much more difficult for hackers to gain access to accounts. Another benefit of Binance is that they offer relatively low fees when compared with other exchanges.
There are no deposit fees for cryptocurrency deposits, but there is a small fee for fiat currency deposits i.e., converting USD into cryptocurrency. The withdrawal fee varies depending on which coin you’re withdrawing and whether or not it’s a popular coin Bitcoin tends to be cheaper than others. Like other centralized exchanges, Binance does not allow margin trading at present time as per their FAQ page, but we expect them to introduce these features in the future once they have established themselves as a reputable platform in the crypto space.
Luno
This app makes it easy to buy, sell, and store Bitcoin. One of its most useful features is its in-app crypto-to-fiat conversion rate calculator. Whenever you want to purchase something with your digital coins, Luno can help you figure out exactly how much fiat currency you’ll need to spend this can come in handy when trying to pay a bill or settle up at an ATM.
The app also has charts that show price trends over time so you can quickly determine if buying or selling cryptocurrency is better for your wallet. Another great feature of Luno is its security protocols, which ensure all transactions are safe and secure. With many hacks making headlines recently, online safety is a top priority for any app dealing with money.
There’s no reason to risk losing everything you own because someone got into your account. In addition to strong encryption protocols, Luno utilizes Google Authenticator as a second layer of authentication another security must-have. Overall, if you live in Uganda and are looking for an easy way to get started trading cryptocurrency then Luno should be on top of your list.
ALSO READ: Does bitcoin work in Uganda? Is it even real?
CEX.io
This is one of Uganda’s top cryptocurrency exchanges. It allows users to trade Bitcoin, Ethereum, and several other cryptocurrencies with just a few taps on their phones. The app itself has an intuitive layout and multiple features, including a news feed and price charts for your favorite cryptocurrencies. It also has direct access to CEX’s order books and shows current orders in real-time.
You can even buy coins using only your phone number. CEX.io is by far one of Uganda’s best cryptocurrency apps right now because it provides direct access to some of the most popular assets out there in addition to an easy-to-use interface that makes buying cryptocurrency easier than ever before.
You don’t even need to leave your house or know anything about trading all you have to do is enter how much money you want to spend and then confirm a purchase. Once you send money from your bank account or credit card, CEX.io will send you tokens within 10 minutes or even faster. Then, you can hold onto them until they increase in value or sell them immediately if you think they’re going to rise soon. The app is available on both Android and iOS devices.
Kraken
Get detailed information on cryptocurrency exchanges. Find out how many crypto coins you can buy with your country’s fiat currency. Choose from a wide range of crypto coins and digital tokens, including Bitcoin, Ethereum, Bitcoin Cash, Ripple, and hundreds more. Access real-time price data for over 2000 cryptocurrencies. Check exchange rates for arbitrage opportunities between cryptocurrencies.
This app will allow you to keep track of such arbitrage opportunities very easily so that you can exploit them quickly before they disappear. You will also be able to track all your transactions across all exchanges in one place, as well as view their balances at any given time. You can also send payments directly from within the app using several popular cryptocurrencies.
It has a built-in QR scanner allowing you to pay for things with Bitcoin or other supported currencies by just scanning a QR code. There are no deposit or withdrawal fees either making it one of few free peer-to-peer trading platforms available today. With its simple user interface, Kraken offers a seamless experience when managing multiple accounts while still providing advanced charting tools and real-time market data feeds all within reach of traders’ fingertips!
ALSO READ: Metaverse and Cryptocurrency in Uganda – My Thoughts
Changelly
By far, Changelly is one of the best cryptocurrency web-based services that allow you to buy any supported coin i.e., it supports over 100 coins. The platform charges a 5% fee for all transactions, which is relatively low compared to other exchanges. More importantly, its mobile app works smoothly and allows you to trade on the go.
This comes in handy when traveling abroad and don’t have easy access to your laptop. So, if you are interested in buying cryptocurrencies, definitely give Changelly a shot! And remember, it only takes about 10 minutes to sign up!
Coinmama
It is considered one of the fastest-growing cryptocurrency trading platforms. With $400 million in transactions per month and over 3 million registered users from almost 200 countries, Coinmama remains one of the top 10 crypto exchanges by volume. In Uganda, many use it to buy bitcoin for local payments like airtime or as a way to invest for retirement.
It’s also an easy entry point for new crypto users who are just looking to dip their toes into digital currency without too much risk. It accepts payment via credit card or debit card both with additional fees but its exchange rate is among some of the lowest in Africa. You can purchase up to $5,000 worth of bitcoins daily. The company is based in Israel but has spread its wings across Africa, Asia, and South America.
Final Thoughts
To conclude, if you’re someone living in Uganda who is into cryptocurrency, I hope that you find some value in these apps. While their administrators are working hard to make them better every day, there may be something not on here that you think deserves a shout-out. We’d love to hear about it! Please leave a comment below and let us know what cryptocurrency apps you recommend for your fellow Ugandans. If we’ll dig it up, we’ll include it!