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24.05.2023

How to Buy Cryptocurrency in the UAE

Dubai has emerged as a hub for decentralized finance and digital assets among Gulf nations. The recent implementation of crypto-friendly regulations and approvals has significantly increased the demand for cryptocurrency services. Furthermore, companies like Ace Xchanger are striving to meet local demand, making it easier than ever to buy Bitcoin in Dubai.

Buying cryptocurrency in UAE is made easy by Ace Xchanger

Traders in the UAE cannot use traditional banking channels to acquire digital currencies at this time. Nonetheless, the region has a generally favorable stance towards cryptocurrencies, allowing citizens to make purchases of digital assets on a number of legitimate crypto exchanges. Thus, through local crypto exchanges, residents of Dubai can now buy cryptocurrencies with cash or a bank transfer.

Opening a trading account at a trustworthy UAE-based exchange and funding it with fiat currency is the only way to buy cryptocurrency in the UAE. Trading cryptocurrencies in the Middle East is made easier by the Dubai-based website Ace Xchanger, which also provides risk-free OTC trading.

Ace Xchanger has been around for more than seven years, making it the go-to place for Dubai residents to purchase and sell cryptocurrencies for fiat currency. It has over 20,000 active users and the industry’s lowest fees. This local exchange offers a safe way to trade cash for various cryptocurrencies. It’s the best resource for keeping abreast of what’s new in the world of blockchain and digital currency.

Over 600 different cryptocurrencies, including Bitcoin (BTC), Tether (USDT), Ethereum (ETH), Solano (SOL), and Cardano (ADA), are readily available for purchase and exchange in Dubai. You can count on knowledgeable staff to help you complete your transaction quickly and easily at any time.

Quick Steps to Buy Cryptocurrency in the UAE

The best way to acquire digital currencies in the United Arab Emirates is to work with a reliable and authorized broker. Ace Xchanger, a top OTC exchange, facilitates cryptocurrency trading in the United Arab Emirates and across the Middle East. Clients can take advantage of the platform’s Over-the-Counter services, quick AED deposits, and minimal trading costs.

Ace Xchanger provides a secure, functional, and trustworthy environment for cryptocurrency dealers in Dubai. Trading is simplified by the site’s intuitive design, and support agents are available around the clock to answer any queries or resolve any issues that may arise. Because of the reliability of this regional hub, you can trust that your money will be safe.

The software also uses customer service strategies that allow agents to reply to questions in a matter of minutes. Any problems that clients have are supposed to be fixed within 24 hours. In addition, its OTC service makes it easy to acquire and sell cryptocurrencies.

By only requiring a government-issued ID or passport as a form of payment, Ace Xchanger has made purchasing cryptocurrency in Dubai much more convenient. The AED (Dirham) and other fiat currencies such as the USD and EUR are widely accepted across the city, making cryptocurrency purchases simple for locals and tourists alike. The procedure consists of only a few elementary steps:

 

  • Visit the Ace Xchanger office in Dubai.
  • Choose the cryptocurrency you want to purchase.
  • Provide any necessary identification documents for secure transactions.
  • Transfer funds in fiat currency to the exchange’s bank account or pay in cash.
  • Once the transaction is complete, your cryptocurrency will be deposited into your wallet.

Why Buy Cryptocurrency from Ace Xchanger?

Ace Xchanger is a reputed Dubai-based local exchange that provides access to over 600 cryptocurrencies. It is the UAE’s fastest and safest cryptocurrency exchange platform.

The platform provides an affordable and effective way to buy cryptocurrency in Dubai because there are no transaction fees. Customers can save money on purchases since the local exchange also monitors the conversion rate and changes as required.

The exchange, which has the lowest fees in the marketplace, has more than 20,000 active customers and has completed over 300,000 successful transactions.

Difference between OTC and P2P

There are now multiple methods available for purchasing cryptocurrency. People can buy coins through matching processes and settlement, which has improved market transparency.

OTC

Trading in cryptocurrencies OTC (over-the-counter) implies a bilateral transaction between a buyer and a seller without the assistance of a third party. OTC deals give the parties involved the freedom to discuss trading without worrying about upsetting the markets. Additionally, it is an entirely in-person way of trading, which allows for fast and accurate transactions.

P2P

Peer-to-peer (P2P) exchanges rely on pre-programmed software to manage transactions between parties. You rarely know who you are working with on P2P platforms. There is a risk of financial loss since you don’t have any information from the other party to oversee your transaction. You can lose your money if the other party accepts the digital currency without paying you back.

Additionally, since many P2P systems conceal information, there is a possibility that illegal or “black money” may be involved.

Cryptocurrency regulations in UAE

Cryptocurrency transactions are not banned in the UAE. Residents of certain emirates are allowed to hold and invest in cryptocurrencies.

Dubai is a region that has made significant progress in embracing cutting-edge technology like blockchain and digital currency. In 2022, Dubai revised its strategy and decided to regulate cryptocurrency.

The proposed law includes legal categories for digital assets, establishes a licensing systеm, and outlines penalties for operating illegally. It also led to the creation of the Virtual Assets Regulatory Authority (VARA). The regulator supervises, regulates, and grants licenses for virtual currencies, NFTs, and other assets.

The new rules aim to increase Dubai’s competitive advantage both domestically and internationally by promoting it as a regional and international center for virtual assets. Additionally, they seek to support digital currency businesses, protect buyers and sellers, and combat illegal activities.

Where to Buy Crypto in UAE

Ace Xchanger is the best OTC platform for buying crypto for several reasons:

  • Lower transaction fees.
  • Faster transactions.
  • Enhanced security and protection against potential financial loss.
  • Instant crypto payouts – no more waiting.
  • Effortless and accurate verification of your wallet’s crypto balance, ensuring it is up-to-date.

FAQ

How to buy cryptocurrency in UAE?

Here are the steps to follow when buying cryptocurrency in UAE through Ace Xchanger:

  • Visit the Ace Xchanger office located in Dubai.
  • sеlect the cryptocurrency you wish to exchange.
  • Provide your ID proof for secure transactions.
  • Transfer funds in fiat currency to the exchange’s bank account or pay in cash.
  • Once the transaction is complete, your wallet will receive the cryptocurrency.

Where to buy cryptocurrency in UAE?

Ace Xchanger  is one of the best options to buy cryptocurrency in UAE. They offer a user-friendly platform and support a wide range of cryptocurrencies for trading.

Best OTC in UAE?

Ace Xchanger is considered one of the best OTC platforms in UAE. They have a reliable and secure platform, with over 500 cryptocurrencies available for trading.

Why is OTC safe in the Crypto industry?

 

OTC trading is generally considered safer than trading on traditional exchanges because it offers more privacy and security for large-volume transactions. The transactions are conducted off the exchange and directly between the buyer and seller, reducing the risk of hacking and price manipulation. Additionally, OTC trading can often offer better rates than traditional exchanges.