It has to mean something, Binance delists BNB on it's own exchange.
It was in 2018 when Binance launched the Binance Uganda a trading platform owned by binance which its aim was to make trading and transactions simpler for Ugandans. This step primarily was to also increase cryptocurrency transactions since it has so far been the easiest platform for any newbie in a third world country to operate.
Binance has a few pairs so far but most importantly traders can transact in about 8 crypto coins BTC, PAX, BNB, ETH, LTC, BHFT, BCH and PCAT.
So the platform has not added so many crypto pairs since it was launched back in 2019 just about 4 more coins were added.
BNB/UGX is not making enough sense.
Because thats what it all implies, trading volumes have been low and Binance decided to force some changes. First BNB deposits were ceased on 10th this month. The trading pair against the uganda shilling will officially be removed Come 17th this month(September 2020).
By 6th November 2020 BNB withdraws will stop immediately.
What all this means
First Binance notices all the trading volumes on this platform. So they made an informed decision to delist their own coin, which is kind of Bizarre because if an exchange can delist its own coin, what does it mean for the future of that exchange. The platforms activity is very low even in this Covid 19 when people are expected go online. I guess the expectations were not met.
As of now you cannot deposit any coin except BTC and you can't withdraw in any other coin except BCH and BNB itself. Let's wait and see where this path leads.
For an official statement, read this [announcement] (https://support.binance.co.ug/hc/en-us/articles/360049382751--Binance-Uganda-Will-Delist-BNB)
This is so unfortunate. Thanks so much for the information. I have been using Binance for quite some time for all my BTC transactions and withdraws. I stopped recently and now I am using Bitpesa. Let's just keep waiting and see where this whole thing is headed.
I will try Bitpesa, it has been so long Binance uganda had such a convinience.
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