Where to buy Bitcoin in Dubai
By Space Coast Daily // February 15, 2024
Dubai has become a hub for a vibrant economy, modern infrastructure, and blooming crypto exchange.
People in Dubai invest more in cryptocurrency and digital assets than in any other Gulf country. With improved regulations and easy trading, the demand for cryptocurrency has risen exponentially in the last few years.
Buy Bitcoin in Dubai – An overview
Dubai has become a hub for a vibrant economy, modern infrastructure, and blooming crypto exchange. People in Dubai invest more in cryptocurrency and digital assets than in any other Gulf country. With improved regulations and easy trading, the demand for cryptocurrency has risen exponentially in the last few years.
Revenue in the cryptocurrency market is projected to reach US$239.9m in the UAE in 2023. Dubai now ranks third in the region by volume, proving its significant presence in the cryptocurrency market. With over 400+ cryptocurrency trading businesses in Dubai in 2022, this number is expected to grow “well over 1000 by the end of 2022”, said Ahmed Bin Sulayem, Executive Chairman and CEO of Dubai Centre (DMCC).
Since cryptocurrency exchange is an emerging market, Dubai’s share in the global market is now over US $25 Billion in transactional value.
Dubai is an excellent and lavish city where people are interested in finding new ways to invest their money, which is where cryptocurrency trading comes in. Being a relatively new market in Dubai, investing in crypto has its perks. Before investing in crypto, consider the legalities, taxes, different currencies, platforms, how to buy bitcoin, and modes of trading, which is where we guide you. Stay with us to find answers to all your queries.
Here is the process to Buy Bitcoin in Dubai
How to buy and sell Bitcoin in Dubai is a commonly asked question. To answer your query, buying and selling Bitcoin is extremely easy in Dubai. Whether you want to buy a cryptocurrency or sell one of your choice, you have hundreds of options. The UAE government has made the trading of cryptocurrency legal and favors the trading of digital assets.
OTC Desks
OTC trading means Over-the-counter trading; this mode differs from the centralized trading system. Over the counter-trading usually happens between two parties. These parties then negotiate on the price, and cryptocurrency changes hands. This type of trade occurs outside the usual trading platform for many reasons.
A few reasons to prefer The Counter OTC platform are:
Privacy
The negotiations happen between two parties, and no one has to know.
Negotiation
This trading mode offers you a much more flexible trading experience. Allows you to negotiate your terms and quantity
Huge Quantity
Here, you can decide whether you want to trade for a large sum or a small sum. This mode is mainly preferred for trading in massive amounts.
Flexibility
Trading in OTC is not limited to particular hours; you can trade at any time of the day
Anonymity
Anonymity is one of the major concerns when dealing in large amounts of cryptocurrency trading, where OTC trading keeps both the buyer’s and seller’s information anonymous.
Comparison between Traditional and OTC Platforms
A brief comparison between your traditional trading platform and an OTC (Over The Counter) Platform:
Benefits of buying Bitcoin in Dubai
The booming city of Dubai is a crypto-friendly city. UAE’s Urban Oasis has been deemed a crypto-friendly city for a long time now. Its no-tax policy for crypto, stable economy, and zero capital gains regulation have made this city attractive to all the blockchain-based businesses out there. UAE allows hundreds of crypto investment options.
Regulatory environment
The Dubai Virtual Asset Regulatory Authority (VARA) oversees the regulation of virtual assets, ensuring compliance with anti-money laundering (AML) and know-your-customer (KYC) standards. This creates a sense of trust and security in Dubai Digital Asset regulations.
Economic stability
Dubai’s resilient and stable economy and its support of digital currencies like Bitcoin, Ethereum, and many others portray an attractive investment opportunity.
Best location
Dubai has an amazing strategic position that places it at the crossroads of Europe, Asia, and Africa, making it a business hub. This megacity also has the world’s most well-connected transportation network, Attractions for tourism, and connections with financial centers worldwide. These aspects contribute to the overall attractiveness of Dubai as a location for investing in Bitcoin.
As mentioned earlier, OTC Desk in Dubai, is the best mode for crypto trading if you’re looking for a quick, secure, anonymous, and best trading experience. The best and leading platform for cryptocurrency trading is MCX. MCX offers competitive rates and expert insights, helping you make informed decisions. This OTC platform provides the best exchange rates, accessibility, transparency, anonymity, security, and profitability.
We at MCX provide you with a solution that promotes anonymity and a direct relationship.
We are at Office 2803, Tower 2, Boulevard Plaza, Downtown Dubai. We are ready to assist you both online and in person. We provide many coins, such as Bitcoin, Ethereum, Solana, Cardano, Dogecoin, and more.
Final Thoughts – MCX Your Crypto Buddy
Choosing MCX to be your crypto buddy is in your hands. Allow us to guide you to make an informed decision.
This is a list of benefits that MCX as an OTC platform provides you with. If these are the terms you were looking to match before selecting a trading platform, welcome aboard. If you’re new to MCX, here is a step-by-step guide:
Visit the MCX office located at Tower 2, Office 2803, Boulevard Plaza, Downtown Dubai, from 10 am to 6 pm.
You can also purchase fractional units of Bitcoin with your funds. All you need to do is check the current exchange rates of Bitcoin and AED and proceed with the transaction.
Bitcoin prices are known for their fluctuations, reaching the highest value of $65,000 in November 2021 and the lowest value of $0. This demonstrates that investing in Bitcoin presents an excellent opportunity to be noticed. Bitcoin to AED conversion also yields high profitability. Therefore, we highly recommend investing today.
