Established in August , Bitex UAE is a Dubai-based secure, professional trading platform that facilitates the buying and selling of digital currencies including Bitcoin, Ethereum, Litecoin, and Ripple. Bitex UAE addresses a growing demand in the Middle East and North Africa for a secure cryptocurrency wallet and trading platform. Bitcoin & Cryptocurrency Trading in Dubai Although the UAE government has warned against investing in Bitcoin, many in Dubai are investing regardless. Dubai does not consider Bitcoin legal tender, but there aren't restrictions on buying or selling either. Based on LocalBitcoins volume and Google Trends data, Bitcoin looks alive and well in Dubai. Dec 07, · Dubai: While the UAE doesn't recognize Bitcoin as a legal form of tender, there are means to trade them. (The only legal tender in the UAE is the UAE dirham.) Bitcoin, Author: Justin Varghese.
Uae bitcoin traders9 Exchanges to Buy Bitcoin in United Arab Emirates ()
It is available in almost all countries. LocalBitcoins is an escrow service which also helps to match bitcoin buyers and sellers. Users may advertise trades for whichever payment method they prefer. Buying bitcoins via an in-person meeting, secured and facilitated by LocalBitcoins, may be one of the fastest and most private ways to buy bitcoins in any country, including the United States , Europe besides Germany , UK , Singapore, Canada , Australia and many more.
We may receive compensation when you use LocalBitcoins. Please visit LocalBitcoins for its exact pricing terms. BitOasis is a Bitcoin platform serving the Middle East. UAE clients may also deposit funds via exchange houses.
You can use our Bitcoin ATM map to buy bitcoins with cash. Bitcoin ATMs can be a quick and easy way to buy bitcoins and they're also private. Although the UAE government has warned against investing in Bitcoin, many in Dubai are investing regardless. Dubai does not consider Bitcoin legal tender, but there aren't restrictions on buying or selling either. If you want to buy Bitcoin, you need a way to store your investment. Storing your coins on an exchange wallet is risky because centralized exchanges are subject to hackers and theft.
Using a cold storage hardware wallet like the Ledger Nano S or the Trezor is the best way to keep your investment safe. After you buy a wallet, choose one of the exchanges above that best suits your needs in terms of limits, fees, and privacy. From there, all you have to do is verify your identity, connect your payment method, and buy Bitcoin. You can deposit your Bitcoin from the exchange to your hardware wallet.
There was only one Bitcoin ATM installed in Dubai back in March of , but the authorities removed it just a few days later for non-compliance. Despite retracing significantly since Bitcoin's major run in late , Bitcoin volume in Dubai on LocalBitcoins seems to be steady. Dubai is an important economic center of the United Arab Emirates, not to mention its largest city and the focal point of advanced technologies.
Cryptocurrency has been met with friendly legislation when compared to the rest of the UAE. The less developed countries in the surrounding area buy their Bitcoin in Dubai due to hyperinflation in their home countries.
The Ledger Nano X is the newest crypto hardware wallet, and is very easy to use. Atomic wallet is a multicurrency mobile wallet with a beautiful interface and easy to use features. Electrum is a Bitcoin-only wallet that has been around since It's easy to use, but has advanced features. Habibi Coin was supposed to be a "real-estate backed" cryptocurrency. From Bitcoin to Litecoin or Basic Attention Token to Chainlink, Coinbase makes it exceptionally simple to buy and sell major cryptocurrency pairs.
More advanced traders will love the Coinbase Pro platform, which offers more order types and enhanced functionality. Gemini is a cryptocurrency broker that offers U. Offerings include both major cryptocurrency projects like Bitcoin and Ethereum, and smaller altcoins like Orchid and 0x. Gemini is 1 of the only brokers with multiple platform options based on skill level. In addition to a host of platform choices, Gemini users also have access to insured hot wallets to store tokens without worrying about digital asset theft.
Learn more about what Gemini can do for you in our review. The most liquid cryptocurrency, buying Bitcoin in the UAE i nvolves accessing a cryptocurrency exchange that allows Emiratis to open accounts. Bitcoin is universally accepted and works for the purchase of virtually all cryptocurrencies. Several local cryptocurrency exchanges offer bitcoins, as well as a number of other digital currencies.
Due to its low taxation rate, supportive regulatory environment and political stability, a number of exchanges and digital currencies base themselves in the Emirates. In addition, official support for cryptocurrencies makes bitcoins an attractive investment for some Emiratis, although their values can fluctuate dramatically relative to national currencies.
You can use local exchanges or select one of the many international exchanges that accept accounts from the Emirates. In addition, sites such as localbitcoins. You also need to get a wallet to withdraw your bitcoins to and store them after you buy the currency from an exchange or from a local bitcoin seller. You can find a partial list of both local and international exchanges where Emiratis may purchase BTC, as well as several different types of crypto wallets used to store your BTC after purchase.
Another option for trading BTC involves speculating on the movements of the crypto by using contracts for difference CFDs. This requires you to open an account with an online broker, such as XTB, for example, and does not require a wallet or exchange account. Keep in mind that if you are using a broker and trading BTC CFDs, you never actually possess the bitcoins and cannot use them to pay for goods and services or receive gifts and payments.
Founded in and based in Dubai, BitOasis is one of the largest cryptocurrency exchanges in the Middle East. The exchange requires a minimum deposit of AED that can be accepted via bank transfer. Its site claims high security standards and minimal trading fees. The company does not accept fiat currency for deposit, so you must open an account with Bitcoin or other accepted cryptocurrencies. Based in Taiwan, Bitfinex supports several professional trading features such as margin trading.
You can make deposits and withdrawals using bank transfers. Based in the U. In addition to offering BTC and other cryptocurrencies, this exchange allows you to trade nine forex currency pairs. The exchange accepts USD or EUR for deposits, and according to its website, provides the best crypto-to-crypto rates in the business. This exchange allows you to trade among the largest cryptocurrency exchange platforms, including Binance, Bittrex and Poloniex.
In addition to the above-mentioned exchanges, you can also buy and sell bitcoins through localbitcoins. The company publishes an online list of buyers and sellers located in the Emirates. The wallet communicates to the crypto network when you want to send and receive transactions.
A wallet address is similar to an email address, except that you can use your wallet address to make purchases and receive payments. Wallets can be installed on a desktop computer, laptop or tablet, as well as on an Android or iOS smartphone. Another type of wallet is a web-based wallet that does not require a download and gives you access to your cryptocurrencies anywhere with an internet connection.
Furthermore, a hardware wallet can be used instead that consists of a peripheral device which plugs into a computer similar to a USB memory stick. If you want to buy bitcoin you will need to navigate your mouse to the left buy button as sworn in the picture.
On the next step you will be guided to a page where you will need to deposit funds to get your voucher. Once the payment is sent the funds will be visible on your voucher which is the door to buy bitcoin in UAE.
Once you click on the Buy Bitcoin Button you will be redirected to the purchase confirmation page which is basically a receipt for your purchase make sure you save a screenshot of it. First of you will see a pending order sign which will hide after the transaction was successful processed. What makes it different is the last decision to invest your money in cryptocurrencies. What you should take into consideration before you invest money in bitcoin:. This is a leading exchange that has gained popularity over the years since Online reviews suggest that they are a very reliable source of digital currency.
As you can see above, getting hold of Bitcoin for investment purposes is relatively easy, so long as you know where to go, and you have a bank or credit card to use.
Bitcoin could be a great way for you to expand your investment portfolio for your retirement account as well to improve your finances. We have published an article about the Bitcoin IRA investment options here. Just make sure that before you get into a Bitcoin investment, you understand that you are taking a financial risk.
What is Bitcoin and What Is Blockchain? Bitcoin runs through a technology ledger called the Blockchain, and the most important fact any investor can remember is that the supply of Bitcoin is finite. Bitcoins are developed through a unique process called mining. Transactions are verified by miners that deal with huge mathematical equations on a regular basis.
While there is a host of different cryptocurrencies available today, Bitcoin remains the first and most well-known.
Some other popular options include Dash, Ripple, Ethereum, and Lite coin. That wallet is a string of code that allows you to transfer your coins and use them for purchases. It is really hard and techy to explain how mining really works. What is most important to know is that you need a computer with a special and predefined graphics card, a mining software which is downloadable from the web and some patience.
The most recommendable option for beginners is to join some of the already generated mining pools which share the same goals as you do.