Bank of Uganda Warning Helped Bitcoin to Become More Popular

Bank of Uganda Warning Helped Bitcoin to Become More Popular

Katherine Atuhairi of Uganda Bitcoin network says that the current warning by the bank of Uganda asking Ugandans to stay far from Bitcoin and other different cryptocurrencies, and evaluating Bitcoin with OneCoin, will just make Bitcoin famous within the East African country. Katherine, a crypto entrepreneur that a few call the Ugandan Bitcoin Queen, believes such calls are an indication Bitcoin has been mentioned and that the authorities feels threatened it has no control over the actual cryptocurrency.

Katherine Atuhairi said:

“I see the bank of Uganda coming out as some other possibility to marketplace the currencies. People are obviously tempted to do what they’re forbidden to do therefore I bet there could be more information concerning the crypto marketplace therefore its popularity.”


Katherine Atuhairi assured the crypto community in Uganda not to be afraid since their finances cannot be frozen or plundered by the nation due to the Blockchains strength. the founder of the Uganda Bitcoin network was full of doubts if her compatriots will heed the warning from the central bank that keeps 8.9 % inflation rate. Katherine Atuhairi thinks it is going to just improve the size of the crypto community, as more people will begin finding more about cryptocurrencies and its copious advantages Ugandans, and for that matter, Africans can reap.

Katherine Atuhairi cited:

“Perhaps measures may be taken to close up the modern organization that has opened up in the suburbs of Kampala but people will go beforehand to venture within the virtual activities that are for sure.”

Actually, some Ugandans are aware about what Bitcoin and another cryptocurrency offer them, in comparison to fiat. More in order Katherine mentioned that is a possibility for more people who have not heard about Bitcoin to discover more and join the community. Silver Kayongo, an East African criminal and banking representative is quoted as stating the move from the Ugandan central bank is an adversary to economic technology in a country where seventy seven percent of the citizens have no bank accounts.

Katherine Atuhairi mentioned:

“I see ventures closing up because of worry of killing the wish for the local community to have any more concern for the increase of cryptocurrency in Uganda at huge and proscribing the increase of economic technology and its start-united states within the country. I suppose the main purpose of the bank of Uganda to prevent the continued financial technology improvement is a main blow to the whole virtual community in the world.”


This pattern is slightly new in this area because it has been witnessed in Russia, Kenya, Vietnam, Colombia, Argentina, or even India. Impressively, Bitcoin usually prevails with the government creating a turnabout. The Ugandan Bitcoin Queen is calling at the whole cryptocurrency community in Uganda and beyond to work together and begin enticing the authorities. Katherine Atuhairi mentioned the need for instant Uganda Bitcoin conference to be convened.

Katherine Atuhairi said:

“The crypto community need to give an explanation for the benefits of cryptocurrencies and the way they can operate collectively with the banks to improve economic technology increase in the country.”

This is in the right course since most of the time such directives emanates from misunderstandings and worry of change. The government of Uganda will do their people an excellent provider by doing an amazing activity of finding out what solutions cryptocurrency extends to the country.

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