The Middle East is now starting to venture and explore cryptocurrencies, mainly on Bitcoin. On 22-23 November 2017, a Blockchain conference was held in Dubai, UAE. The conference discussed the potential and the effects of implementing Blockchain technology in various commercial contexts. Speakers from renowned companies and organizations like Takaful Emarat, Smart Dubai Government PWc and lots more, gave their opinion and vision with regards to the future of cryptocurrency in the Middle East.
Khaleej Times also posted one article on how to buy a property in Dubai using Bitcoins. Undoubtly, Middle East is gradually improving its footprint in crpyto currencies (decentralized money). This article will NOT cover “What is Bitcoin” but instead, focusing on “How To Buy Bitcoin in Dubai UAE”. We encourage all to make their extensive research about crpyto Currencies, how they are very volatile and the other risks to start this venture.
A piece of advice: Be cautious with the bubble and forks. (If you don’t know what this means, do your research first or ask someone who are experienced with decentralized money exchange).
How to Buy Bitcoins in Dubai UAE?
Unfortunately, the most popular coin exchange portal, Coinbase, currently does not accept Buy/Sell of Bitcoins in UAE. Tweaking your IP by using a VPN software is not permitted in UAE and UAE has strict implementation not to do it. Else, you’ll be fined. In addition, VPN is not that safe as you will use a 3rd-party service which may log (save) your credentials and passwords. Hence, vulnerable with hacks.
Buy Bitcoins in Dubai through BitOasis.net
BitOasis accepts Buy/Sell Bitcoin and Ethereum in Dubai using AED (UAE Dirhams). Users can also install BitOasis Wallet on Iphone and Ipad to track their wallet. Arabic Version of the website is also available. We also liked the two(2)-way login authentication through user’s registered mobile number. This adds extra layer of security for the hard earned coins.
How to register on BitOasis?
2.) Fill-in your details and hit the “Sign-Up” button.
3.) Confirm registration by access your registered email address
3.1.) Simply click the “Click Here” link
3.2) If the above does not work, copy and paste the link on your browser
Overview on How To Buy Bitcoin in Dubai using BitOasis.
Step-by-Step on how to purchase Bitcoin in Dubai Through BitOasis:
Never send payments or purchase a voucher without doing this process below. Else, BitOasis will penalize you as stated here: New Voucher Deposit Charge
1.) Click “Buy Bitcoin”
2.) Click “Deposit Money”
3.) Enter amount. Your first purchase limit will be 400 AED. BitOasis will only verify account after 400 AED worth of voucher credit was purchased
4.) On payment method, you can choose either Online Money Transfer or Credit / debit card. We prefer “Online Transfer Method” as we felt it is much more safer and has low-to-zero transfer fee (zero transaction fee when using Emirates NBD’s “Local Transfer”). Hit “Next” button.
[We choose "Online Money Transfer" as Debit/credit card payment is straight forward]
5.) Take note of the transfer details which includes Bank Swift Code, Branch and Reference number.
6.) Tick the confirmationn box
7.) Click Confirm. You will receive an email notification for this voucher purchase request.
8.) Login to your Online Bank Portal (Different Banks has different online interface which is why we will not cover the guide here in this article)
9.) Send/transfer your first voucher payment through the transaction details which can be found at #5.
10.) You will receive online transfer email/sms notification from your bank.
BitOasis will process the payment within 1-3 Working Days. This means, you need to wait until they add your voucher on your Wallet.
11.) Wait for a notification same as below, It may take 1-3 working days
12.) Re-login to your account
13.) Click “Buy Bitcoin” on the side menu
14.) Click “Buy Bitcoin” on the header
15.) Buy Bitcoin in AED, the system will automate the conversion between currencies based on the actual exchange rate on the time of purchase
16.) Click “Buy Bitcoin”.
CONGRATULATIONS ON YOUR FIRST BITCOIN