How to buy Bitcoin in UAE; Digital currencies are all the buzz in technology circles these days. With so many developments occurring, the rise of digital money has created a new avenue for investors to pursue their fortune. Recently, the United Arab Emirates, particularly Dubai, has seen increased demand for Bitcoins. The country still sees an influx of entrepreneurs with new crypto businesses poised to create and capture a large share of the nascent crypto market. The welcome expansion of cryptocurrency exchanges in the UAE provides additional chances for citizens to acquire and trade cryptocurrency effortlessly. If you’re new to the concept and want to invest in Bitcoin, we’ve compiled a simple guide on buying Bitcoin in the UAE and the best platform to trade your Bitcoin.
Best Crypto wallet in UAE
The best crypto wallets in UAE are Best Wallet, eToro, and Binance.
Best Wallet: Best Wallet is a user-centric crypto wallet in the UAE with high security, multi-chain interoperability, and an AI Chatbot that provides real-time insights for a seamless user experience. Users can also stake the platform’s native $BWAT tokens in exchange for attractive payouts.
eToro: eToro is a well-known cryptocurrency wallet for UAE investors of all skill levels. Over 90 cryptocurrencies are supported through its native web and mobile wallets, including Bitcoin, XRP, BNB, and Dogecoin. The eToro wallet gives users access to exchange services, allowing them to buy and sell cryptocurrency quickly. Furthermore, eToro provides staking payouts as well as copy trading tools. Above all, eToro is supported by a regulated brokerage with institutional-grade security.
Binance: Although Binance is most known for its cryptocurrency trading, it also provides a user-friendly web and mobile wallet. Both wallets are linked to the same account and offer instant access to over 350 cryptocurrencies. Binance offers 0.1% commissions, making this the finest wallet in the UAE for traders.
How to Sell Bitcoin in UAE
To sell bitcoin in the UAE, follow the steps below.
Create an account on a cryptocurrency exchange: To purchase or sell cryptocurrencies, you must create an account on a cryptocurrency exchange. Crypto exchanges enable cryptocurrency trading, and some of those based in the country include BC Bitcoin, Palmex, Bitfinex, and CEX.IO.
Open a cryptocurrency wallet: When you register an account on an exchange, you will be given a wallet address that you may use to trade cryptocurrencies in the UAE. This wallet is partially yours because the crypto exchange can make judgments about the funds held in it. Having a decentralized wallet with complete control over your assets would be advantageous. Some of the most popular wallets for Bitcoin trading in the UAE include Metamask and Trust Wallet. You can move your coins from the exchange to your wallet address and protect them with passwords. Maintain the password in a location where you can quickly remember and access it. These software-based wallets can be installed on phones, laptops, and other devices.
Withdrawing Bitcoins from your wallet: Understanding the hazards of storing cryptocurrency on a cryptocurrency exchange is critical. One of the risks of relying solely on sales to secure your funds is the prospect of hackers stealing millions of dollars in customer assets. You can protect yourself from such vulnerability by transferring your Bitcoin to a wallet. Electrum is the finest Bitcoin wallet in the UAE.
Bitcoin ATM: Bitcoin teller machines (ATMs) are another option for selling Bitcoins in the UAE. These ATMs allow customers to acquire sell crypto for cash without stress, and most only demand a phone number for verification, making them more private than exchanges if you aren’t buying a lot of Bitcoin.
Where to Buy Bitcoin in the UAE
If you want Bitcoin in the UAE, use the following legit platforms.
- BtBitcoin
- Changelly
- BitOasis
- Palmex
- BitFinex
- Cex.io
How to buy Bitcoin in UAE
To buy Bitcoin in the UAE, open an account on a crypto exchange, get a crypto wallet, fund wallet, and buy Bitcoin.
Bitcoin ATM location in the UAE
The only Bitcoin ATM in the UAE is located in Dubai, inside the 5-star Rixos Premium Hotel.
How to sell Bitcoin in Nigeria
To sell Bitcoin in Nigeria, you need an exchange platform like Astro Africa. Astro Africa is a digital exchange platform that allows you to sell Bitcoin and other cryptocurrencies for Nigerian money.
The platform is easy to use, sells bitcoin at the best rates, is swift, and has fantastic customer service. To use Astro Africa, you must create an Account. To create an account, visit the Astro Africa website or download the mobile app from the Google Play Store or App Store.
