How To Buy Bitcoin in Uganda with UGX

Over the last few years, Uganda's cryptocurrency market has gained more ground, with many people trading and investing in digital currencies. Despite the regulatory situation in Uganda and the fluctuation in bitcoin prices, Uganda is one of the many African countries still looking to adopt bitcoin and use it more widely within the country. 

As a pan-African company, we are delighted to contribute to this growth by announcing that you can now buy bitcoin in Uganda easily with your Ugandan shillings! With bank transfer, you enjoy an easier way to fund your wallet and buy bitcoin smoothly, faster and more securely in Uganda on Yellow Card.

Furthermore, you will also be able to sell and withdraw Ugandan shillings directly to your bank account. So you can send bitcoin, ethereum or tether to your Yellow Card account and cash out to your bank account in an instant. We will walk you through the simple process in this guide.

How to Own Bitcoin in Uganda

You will need two things to use bitcoin; here are the essentials to get you started:

1. Create a Bitcoin Wallet:

A bitcoin wallet secures the storage of your bitcoins. Desktop wallets, mobile wallets, web wallets, paper wallets, and hardware wallets are all available, but the web wallet is the most popular and easiest to use. This is due to the ease with which web wallets can be accessed via your mobile phone or computer browser.

You'll have instant access to your bitcoin this way. Yellow Card offers you an excellent example of a web wallet. Using Yellow Card to create a bitcoin wallet is completely free.

2. A Legit Crypto Exchange:

There are a lot of trading platforms for cryptocurrencies available worldwide. As digital money, bitcoin may be used by anyone, everywhere, but exchange services let you buy and sell bitcoins using your local currency. This implies that you can easily buy bitcoin with a shilling and deposit it directly into your bitcoin wallet using an exchange site.

Thankfully, Yellow Card is one of the few fintech that offers a cryptocurrency exchange service in Uganda with the best rates for purchasing Bitcoin with cash.

How to Buy Bitcoin with Yellow Card

To buy bitcoin with bank transfer, you must have a Yellow Card account, and it is straightforward to create one. Simply visit the website or download our mobile app from your app store and provide the required information. This should take less than 5 minutes. Once you have created your account, your UGX and bitcoin wallets will be activated. The next step is to fund your UGX wallet. To do this:

1. Sign in to your Yellow Card account
2. From your dashboard, select deposit
3. Choose the bank transfer option
4. Enter the amount you want to deposit
5. Send the money from your bank account to the provided Yellow Card account
6. Confirm the deposit information and authorise the transaction on your mobile device.
7. Your account will be credited instantly with the deposited amount.

Now that you have deposited UGX into your account go to your dashboard and select Bitcoin. Enter the amount you want to buy and confirm the details. Your bitcoin wallet will be added to your wallet immediately.

Read also: Is it Too Late to Buy Bitcoin?

How to Sell and Withdraw UGX in Uganda

You can also sell Bitcoin on Yellow Card and withdraw your money directly to your bank account. This may be bitcoin you already have in your Yellow Card wallet, or you can also send it from other external wallets to your YC wallet and sell it.

First, from your dashboard, go to your bitcoin wallet and sell the amount of bitcoin you want. Then, to withdraw the money:

1. From your dashboard, select withdraw
2. Select Bank Transfer
3. Enter the amount you want to withdraw
4. Select the bank you wish to receive the funds within
5. Confirm the withdrawal details and input your 4-digit PIN
6. Your money will be instantly sent to your mobile number.

That's all! You can now buy and sell bitcoin in Uganda with bank transfer.

Bitcoin Price in Uganda 

Many people are curious to know the "Bitcoin Price Uganda", since the price of cryptocurrencies might slightly differ from one country to another. 

While the bitcoin price in Uganda can change, Yellow Card has a live chart where you can check the current price of bitcoin in USD or in UGX.

Note that the Bitcoin price in Uganda might change from time to time, as it does everywhere else. This is because Bitcoin and other cryptocurrencies are volatile. 

Wrapping Up 

There are numerous exchange platforms or means you can use to buy, sell, and withdraw bitcoin. However, Yellow Card offers the safest and easiest way to transact with bitcoin. It is an added advantage as they often provide you with the bitcoin price in Uganda and better trading rates at no extra fees. 

Buy Bitcoin with Bank Transfer