Cryptocurrencies are the future of money, and Bitcoin is the king of cryptocurrencies. Have you heard about people making crazy profits investing in Bitcoin and cryptocurrencies? Do you want to buy Bitcoin but don’t know how to do so? We will teach you to buy Bitcoin in Dubai in the simplest terms in this guideline.
Where to buy Bitcoin in Dubai
Anyone living in 2022 has definitely heard about Bitcoin. Investing in Bitcoin and making good profits is so tempting that no one wants to miss the chance. Dubai is no exception. But some people still don’t know how to buy Bitcoin in the Dubai .
To buy Bitcoin it is a very simple process. It is as easy as making an online purchase. Cryptocurrency exchanges have facilitated this process for you. Cryptocurrency exchanges let you convert your fiat money to Bitcoin and convert your Bitcoin to fiat money in a few minutes.
Good news is that there are numerous crypto exchanges in Dubai. They help you to buy Bitcoin in the easiest possible way. Crypto Desk is best among these exchanges developed to help you buy cryptocurrency in Dubai .
Contact: 04 565 2945
Cryptodesk is a UAE-based cryptocurrency exchange that has been working since 2015 and facilitates the process to buy Bitcoin in Dubai for you. It is an appropriate user-friendly choice for the citizens of Dubai, supporting more than 500 cryptocurrencies. Cryptodesk is useful both for beginners and for experts. From other local alternatives, we can refer to Bitoasis. You can also consider international choices like Binance if you wish to buy Bitcoin.
Most cryptocurrency exchanges require you to login and make an account with an email address. This is the process you should go through if you want to buy Bitcoin in the Dubai . A confirmation email is sent to your email address and as soon as you confirm it, your account is created. You then must enter your bank account’s information. Purchases will be made only with this bank account.
Different cryptocurrency exchanges may vary in details, but they follow the same underlying concepts. In this guideline, we will teach you how to get Bitcoin in Dubai. But before that, we will take a look at highs and lows of Bitcoin price and cryptocurrency regulations in UAE.
The highs and lows of Bitcoin price
If you are wondering whether to purchase Bitcoin in Dubai or not, we recommend you to increase your knowledge on a number of crypto-related subject matters. One subject you as an investor wishing to get Bitcoin in Dubai must be aware of is the highs and lows of Bitcoin price.
Bitcoin started its work in 2009 with its price being $0. At that time, probably a few people expected the Bitcoin price today. Bitcoin price today is really fascinating. At the time of writing, each bitcoin is being traded at $19K.
This is not Bitcoin’s all-time high though. Bitcoin’s price increased to around $68K in November 2021. This is more expensive than a Porsche 718 Cayman. Just imagine what profit an investor who had bought Bitcoin at $10K would make.
Are you tempted to get Bitcoin in Dubai with the hope of making the same profit? Then we should inform you that this is just one side of the coin. Losses are also common in the crypto world. Bitcoin price today is a proof to this claim. An investor having bought Bitcoin at $68K is now experiencing a loss. If you want to Purchase a Bitcoin in Dubai and enter the crypto world, you should be ready for possible losses.
What is the future of Bitcoin in the Dubai ?
It is normal to be worried about the future of cryptocurrencies if you want to buy cryptocurrency in Dubai. However, reading the following parts may help you a bit.
Bitcoin predictions for commings times:
- – Predictions for 2022
The exporters and the investors predict that Bitcoin would hit a $33,748 slap by the end of the year but no predict of getting better than that.
– Predictions for 2023
And the predictions for 2023 over Bitcoin purchase, is valued at $69,712 by the investors. Many believe the Crypto might hit its all time high value in 2023.
Is crypto legal in Dubai
Another factor you should consider if you want to get cryptocurrency in Dubai is crypto regulations in this country. Cryptocurrencies have different regulations in different countries. These regulations may affect using crypto, making crypto transactions, or converting crypto to cash.
Cryptocurrency regulations in Dubai are determined by Dubai Virtual Assets Regulatory Authority or VARA. VARA regulates cryptocurrencies in the Emirate of Dubai, and supervises virtual assets and virtual asset service providers in this emirate. It applies to “all zones across the Emirate of Dubai, including Special Development Zones and Free Zones, but excluding the Dubai International Financial Center”. We highly recommend you to follow the instructions of VARA if you want to buy cryptocurrency in Dubai .
Considering the importance of regulatory issues, we have decided to go through the following subjects separately. Being aware of these points is useful for those who want to buy Bitcoin in the Dubai.
- Use of crypto in Dubai
- Crypto transactions in Dubai
- Crypto to cash conversions in Dubai
Use of crypto in Dubai
Cryptocurrencies are not officially announced legal in UAE, but they are not prohibited either. Dubai citizens can freely buy, sell, and trade cryptocurrencies using numerous cryptocurrency exchanges in this country. So, don’t be worried about regulatory issues if you want to get Bitcoin in the Dubai . This is not illegal.
Crypto transactions are also completely free. However, like most parts of the world, users are in charge of their transactions. This means that if they make a transaction to a wrong address, they are responsible for it. Bitcoin transactions are irreversible and an amount sent to a wrong address may be gone forever.
Crypto to cash conversions
Crypto to cash conversions are allowed, and they are as easy as cash to crypto conversions. You only need to select the BTC/AED pair in a cryptocurrency exchange for converting Bitcoin to AED. Set the order on the “sell” state, determine the amount, and press the sell button. That’s it. You will receive the fiat amount in your registered bank account. A recommended place is Crypto Desk in Dubai to purchase or sell bitcoin or any other crypto currency.
What is the process to buy or sell Bitcoin in the Dubai?
The process to buy Bitcoin in the UAE is simple. We will explain to you how to buy Bitcoin in the UAE step by step in this part.
- Choose the best cryptocurrency exchange Crypto Desk in UAE
- Enter a valid email address and register
- Give your bank account’s information
- Transfer the desired amount from your bank account to your exchange account
- Go to the market and select the BTC/AED pair (to convert AED to Bitcoin)
- Select the amount either in BTC or in AED and press the buy button
Choose a cryptocurrency exchange in UAE
The first step is to choose a cryptocurrency exchange. We previously referred to Cryptodesk and Bitoasis as local options. These exchanges let you buy, sell, and exchange crypto in the UAE easily.
Enter a valid email address and register
The second step is to enter a valid email address. A confirmation email is sent to this email address. As soon as you confirm the request through your email, your exchange account is created.
Give your bank account’s information
The next step is to give a valid bank account’s information to the exchange. Then wait for the bank account to be confirmed. As soon as your bank account is confirmed, you can transfer fiat money from this account to your exchange account. Deposits are also made to this bank account (for when you want to sell cryptocurrencies).
Transfer the desired amount from your bank account to your exchange account
The next obvious step is to transfer the desired amount from your bank account to your exchange account. However, pay attention that the amount you transfer is enough for buying your desired cryptocurrency, as well as paying for the fees.
Go to the market and select the BTC/AED pair (to convert AED to Bitcoin)
UAE-based exchanges (like all other cryptocurrency exchanges) have trading pairs to facilitate the process to exchange crypto in Dubai . A trading pair is something like BTC/AED or BTC to AED. Without trading pairs, crypto trading would have been very difficult. Go to the market and select the BTC/AED pair.
Select the amount either in BTC or in AED and press the buy button
There is no difference whether you choose the desired amount in BTC or in AED. If you choose the amount in Bitcoin, the exchange will show its AED equivalence and vice versa. Double-check the amount and if everything is correct, press the buy button.
Now you have your bitcoins in your exchange account. You can either hold your bitcoins in this account or transfer them to a cryptocurrency wallet. Daily traders usually keep their cryptocurrencies in the exchange account, while long-term investors transfer them to their wallets.
You figured out how to acquist Bitcoin in the Dubai now. We previously mentioned that converting Bitcoin to AED is as simple. You have probably learnt how to sell Bitcoin or exchange crypto in Dubai if you have learnt how to buy Bitcoin.
If you have your bitcoins in your exchange account, just select the BTC/AED pair, select sell, determine the amount, and press the sell button. If you don’t have your bitcoins in your exchange account, you have one extra step. You have to transfer bitcoins from your wallet to your exchange account.
Scope of cryptos in coming days?
Nearly all experts believe that cryptocurrencies have come to stay. They are not fleeting phenomena. They are here to revolutionize the whole financial system.
13 years have passed since the world’s first cryptocurrency was introduced. Cryptocurrencies have not weakened during these years. Instead, they have become more popular, more diversified, and more widespread.
We again refer to Bitcoin price today as a proof to this claim. When Laszlo was paying 10,000 bitcoins on two pizzas in 2010, did he think that those bitcoins would be worth millions of dollars ten years later? But this happened.
Bitcoin price today is more than 19,000 dollars, and we have thousands of other cryptocurrencies. We have smart contracts, decentralized applications, Defi, decentralized autonomous organizations, play-to-earn games, decentralized exchanges, and many more crypto-based products. If all this happened only in 13 years, what do you think would happen in the next 20 years? The same future is expected of those investors who invest in Bitcoin in Dubai today.
Will there be any extra expenses while purchasing cryptocurrencies?
Another expense we didn’t talk about and you should be aware of if you want to buy Bitcoin in UAE is the exchange’s fee. Cryptocurrency exchanges are organizations that facilitate buying, trading, and selling cryptocurrencies. In return for services they provide their users with, they earn a specific amount of fee.
This fee may vary from one exchange to another. The amount of fee is a factor you can pay attention to when trying to choose an exchange. It is usually stated in the exchange’s “terms and conditions”. So, if you want to sell Bitcoin in Dubai and are trying to find the best exchange, this is a factor you can consider.
How to buy and sell Bitcoin in Dubai ?
The first step to get Bitcoin in Dubai is to choose a cryptocurrency exchange. Then register and pass the required steps, transfer money from your bank account to the exchange, and change it to cryptocurrency. You can sell your bitcoins and change the cryptocurrency to AED within your exchange account whenever you wish.
How to buy Dogecoin in Dubai ?
The process to buy Dogecoin is similar to how you purchase Bitcoin in Dubai . It requires creating an account in a cryptocurrency exchange and transferring fiat money. Pay attention that the exchange you choose supports Dogecoin.
Where to buy and sell crypto in the Dubai ?
There are numerous local and international cryptocurrency exchanges you can choose among. Crypto desk and Binance are appropriate options to sell and get Bitcoin in Dubai to name a few.
Hidden charges when you sell your Bitcoin?
You must pay a set amount of fee to the exchange in return for services you get, no matter if you sell or buy Bitcoin in the Dubai .
Best place to Buy and sell Bitcoin is?
Different cryptocurrencies may have different regulations or require different amounts of fee. It is up to you as the user to do your own research and find the most appropriate choice according to your needs. We recommend you to search the phrase buy Bitcoin in the Dubai and continue your research.
Best crypto exchange near me?
Cryptodesk is a well-known Dubai -based cryptocurrency exchange and an appropriate choice for users who want to Purchase Bitcoin in Dubai . From other local options to buy cryptocurrency in Dubai we can refer to Bitoasis and from other international options we can refer to Binance, Coinbase, Kraken, Gemini, KuCoin, and Huobi.