Can I Buy Bitcoin in Dubai?
On Dec 08, 2020
Bitcoin is getting more and more acceptance in Dubai / UAE. For this reason, both residents and tourists are often looking for places to buy Bitcoin in Dubai. An over-the-counter exchange Coinsfera, which has made a reputation over the years, assists you to buy bitcoin in Dubai in the most effortless way. Buying the leading cryptocurrency quickly and securely is a simple process as long as you choose the right path for you.
Is Bitcoin Banned in Dubai?
Legal issues about Bitcoin have always been the main topic on social media. People who want to buy or sell Bitcoin in Dubai need to know about legitimacy. The following facts will elaborate on this:
- Dubai Multi Commodities Centre (DMCC) views Bitcoin as a crypto-commodity. For everyone who trades on their behalf, then it is legal to do so.
- Although the UAE Central Bank declared the prohibition of virtual currency transactions, they explained that it does not cover cryptocurrencies, with the further announcement.
- Dubai wants to create a “blockchain-powered government,” and UAE exchange partnered with cryptocurrencies to realize cheap and fast cross border money transfer.
We can conclude that there are not any direct laws to prohibit Bitcoin exchange.
How Can I Buy Bitcoin in UAE?
Dubai, the largest city in the UAE, has many cryptocurrency enthusiasts that search for ways to buy Bitcoin. Each one chooses a different method based on ease of operation and, most importantly, previous experience. Here are the ways you can buy Bitcoin in Dubai:
If we take into account the high transaction fees and technical problems of ATMs and the scam problems of online exchanges, OTC is the most preferred and most convenient method. Without the KYC problem, you can easily purchase large amounts of Bitcoins with cash.
Coinsfera Crypto Shop in Dubai?
Dubai is rich with vendors, which sell and buy Bitcoin. Finding a reliable one is always a headache for many beginners. Coinsfera is an exchange that allows people to buy Bitcoin in Dubai, UAE with cash or credit card. With Coinsfera, you can have Bitcoin (BTC) within a few minutes.