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How To Convert UGX To BUSD And Withdraw Your Crypto In Uganda

2022-06-03

Read this guide to learn how to easily convert your UGX to BUSD and withdraw your assets on Binance P2P with ease.

Buy BUSD Via “Buy Crypto” Feature on Web

The easiest way to convert your UGX into BUSD, or just about any crypto asset you need is through the “Buy Crypto” feature.

Step 1: Log in to your account.

Step 2: On your home page, click on the "Buy Crypto" feature.

Step 3: Select “Buy Crypto With Cash Balance”.Step 4: Select “UGX” under “Spend” and “BUSD under “Receive”, as shown in the picture below. 

Step 5: Then enter the amount of ”UGX” you’re willing to spend, and receive the equivalent “BUSD” in your spot wallet.

Withdraw Your BUSD To Your Bank Account Via Binance P2P

First, you need to transfer your converted BUSD from your Spot wallet to your Funding wallet. 

Step 1. Select “Wallets” on the bottom nav bar, then tap “Transfer”.

Step 2. Make sure you’re transferring from “Spot” to “Funding”. Select “BUSD” from the options, then enter the amount you want to transfer, then tap “Confirm Transfer”.

To ensure safer transactions with verified merchants, we encourage users to explore the Binance P2P “Express” mode - a feature that lets you place an order directly just by entering the fiat amount you want to buy or sell.

How does it work?

Step 1: Place order

Enter the P2P page from your Binance app and select ‘Express’ at the top left corner of the app page. Click ‘Sell’ and select your crypto and preferred fiat currency. Enter the quantity and click ‘Sell with 0 Fee’. Once you click ‘Confirm Sale’, your order will then be created.

Step 2: Confirm Purchase from Buyer

Once the buyer completes payment, click ‘Payment Received’.

Note: Ensure that funds are transferred to an account you own that matches your verified name.

Step 3: Receive your UGX

The BUSD will be credited into the buyer’s P2P wallet in a matter of seconds, and you’ve successfully withdrawn UGX to your bank account!

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