Know The Easiest Ways To Buy Bitcoin in The UAE

Digital currencies are creating stimulation among technology fans these days. The era of digital currency has become a milestone in the journey of investors turning the pages of their fortune. With so many innovations happening, you can also try your luck in cryptocurrency. Bitcoin is gaining popularity and approval in the UAE. People are looking for various platforms to buy bitcoin. UAE offers a simple process for its nationals and visitors to purchase the best cryptocurrency easily and securely. If you are a beginner and want to invest in Bitcoin, we have simplified the process of how to buy Bitcoin in UAE.

What is Bitcoin?

Bitcoin or cryptocurrencies are digital currencies. They do not exist physically, and you can not hold and touch them. The basis of bitcoin is Blockchain Technology, a cyber-secure, digital public ledger used to record and monitor transactions. Bitcoin balances are documented on these public ledgers for everyone to see. A considerable amount of computational ability is used to confirm every bitcoin transaction. The fact that there will only be 21 million bitcoins in the world only adds to their value. 

Where To Buy Bitcoin in UAE? 

Bitcoin and other cryptocurrencies in the UAE are not considered valid forms of currency. Regardless, trading bitcoin is not expressly restricted either. Even after the United Arab Emirates (UAE) issued warnings for those trading bitcoins, it does not completely dismiss purchasing and buying bitcoins in the country.

If you want to buy bitcoin in UAE from a local exchange, Bit Oasis is your lead in the Middle East and is located in the United Arab Emirates. Bit Oasis has its head office in Dubai and assists with a wide variety of the most well-known cryptocurrencies, such as Bitcoin, Lit coin and Ethereum.

How To Buy Bitcoin in UAE? 

Bitcoins can be traded via platforms known as exchanges. If you reside in Dubai, you can access a variety of Bitcoin exchanges. Interested individuals can buy bitcoin in the UAE through BitOasis. All they must do is follow the steps below. 

• Buying Bitcoin Through BitOasis 

BitOasis is a cryptocurrency wallet and exchange assistance in the Middle East that authorises buying, selling and booking bitcoins. It is one of the best ways to buy bitcoin in the UAE. BitOasis assures that their wallets are well-secured by multi-signature authentication, making it a safe setting to hold bitcoins and their transactions. At any time, you can seek out the current price of 1 bitcoin on the webpage of BitOasis.

You must follow the steps to create a new account on BitOasis and get a voucher to secure bitcoins.

• • Step 1 – Sign Up or Log in to Your Account :

    • You must provide the necessary details to buy bitcoin in UAE. You can log in as soon as you complete the sign-up process.
    • BitOasis will send you a confirmation email to verify your login details. You must choose a strong password and also enable two-factor authentication.
    • You will see a tab titled ‘Wallet Dashboard’ as soon as you log in.
    • Make sure to enter your bank account details into BitOasis before you start your fund transfer process.
    • BitOasis will then approve your choice of bank. This step is undertaken to confirm whether specific bank regulations are followed. 
    • Upon approval, your bank account will be visible in the settings menu of the dashboard.

  • Step 2 – Choose the Amount :

To buy bitcoin, you need to click on the link ‘Buy Bitcoin’ on the left and follow the given instructions:

• • • Fill up the amount of your voucher; 
    • Select the mode of transfer; 
    • In the bank reference number section, enter your User ID. 

The funds get transferred from a UAE bank account in your name as soon as you are done.

• • Step 3 – Transfer Funds from Bank :

    • To buy bitcoin in UAE, you need to connect to your online banking account and complete the required financial transfers. The amount of money transmitted must match the funds transferred.
    • Your BitOasis User ID must also be filled in the bank account’s reference number column. BitOasis will display that the order is processed after you confirm your transfer. A confirmation email will be sent mentioning the pending funds’ transfer and then appear in the pending orders table. 
    • The funds get transferred from your bank account to BitOasis within a day. You will receive an email confirming the same. 
    • Finally, your voucher balance will emerge in your wallet after the transfer. 

  • Step 4 – Buy Bitcoin :

    • Once you receive your voucher details, you can buy bitcoins with your voucher credit. You have to click on the “Buy Bitcoin” link will be appeared on the left side of the menu.
    • Once you click on the link, it will take around 10 minutes for bitcoins to appear in your BitOasis account.

With this simple process, you can buy bitcoin in UAE safely and securely.

How To Buy Bitcoin in Dubai with Cash? 

It is not easy to buy Bitcoin in Dubai with cash. It would be ideal for visiting a Bitcoin ATM, which can enable your fund transaction, though finding them is uncommon. Another way is to deal with physical cash over a peer-to-peer transaction platform. However, this is considered riskier due to the lack of an intermediary agent to secure the transaction. 

How To Buy Bitcoin in UAE with a Credit Card? 

Unlike cash, buying bitcoins in Dubai with a credit card is easier. Firstly, you need to calculate the number of bitcoins you need, following which you need to visit any cryptocurrency platform with your Emirates user ID or passport. Finally, the transaction will be processed with your credit card.

The Best App To Buy Bitcoin in Dubai 

BitOasis is the best cryptocurrency exchange in the middle east. The app asserts to be the “biggest digital investment exchange in the middle-east”. They list all their crypto market prices in AED and take the best care of those in the UAE. BitOasis is offering more than ten different assets for trading, with more to be added in the future. They provide a reliable environment like cold storage to keep your assets safe and store your coins. BitOasis consists of two platforms, Core and Pro. For more regular dealers, delivering more assets, trading duos, and other components, Pro is utilised to buy bitcoin in UAE. The standard withdrawal fee for BitOasis is 0.0005 BTC, which is majorly for trading large amounts of bitcoins.

Conclusion

You are largely mistaken if you think UAE is limited in trading cryptocurrency. There may be a need for Bitcoin ATMs, but the country is considering taking technology and innovation to new heights. With establishing an abundance of exchanges in and outside the country that you can take advantage of, UAE is initiating a new chapter in its cryptocurrency journey. The steps above will help you understand how to buy bitcoin in UAE.

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