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The buzz of digitalization has taken the world by storm, and Cryptocurrency is the new avalanche. Bitcoin has exceeded the expectations of the stock market in the past years, and the market is continuing to develop worldwide.
The UAE crypto-sphere has been making waves with reliefs in regulations introduced concurrently with spikes in the market. If you are planning to invest in cryptocurrencies or especially want to buy bitcoin in UAE, you need to know the various ways you can buy them. Credit or Debit cards or Payment gateways provide easy access to online purchasing, but do they serve the same function for cryptos? Read on to find out!
Methods to buy Cryptocurrency in the UAE
Being in the UAE and diving deep into the crypto market is a lucrative option. The buying procedure has been made easy through the region's various brokers and crypto exchange services. The majority of these have been licensed by the government, thereby ensuring the safety and security of investment.
UAE is serious about providing a smooth and secure infrastructure for crypto investors. So investors can invest with confidence. Other than big exchanges, small Brokers are also available in the UAE, which allows you to buy cryptos within the bounds of specified charges.
Since the technology integrating blockchain is developing at the speed of lightning, the ways of buying are escalating as well. Some of the common methods of buying Cryptocurrency in the UAE are:
- P2P and through a Private person
- Through private Appointment with small brokers
- Through Payment infrastructure on exchanges
P2P, or buying from a private individual, might be problematic since many people have experienced fraud and delays on P2P networks; therefore, it can be unsafe. Nonetheless, because some private person is as unsafe as P2P, many people avoid it; however, some individuals utilize it on their trusted platforms and trustworthy people.
When it comes to Appointments with Small Brokers, it may be more convenient for newcomers and those who wish to invest and hold. Still, it would be time-consuming and lengthy, so it would not be the best way for professionals who want to trade and invest quickly.
For short and long-term investments, payment channels on exchanges would be preferred. They're typically safe and quick. You may complete your transaction in a matter of minutes. So, here are a few payment gateways for you to use in the UAE to conduct trades or purchase cryptocurrencies.
Payment gateways on exchanges
Payment gateways infrastructure on local exchanges is far better than big multinational exchanges. Because providing local Payment infrastructure is the priority of financial institutes, and local exchanges have access to this payment infrastructure, here are a few widely used payment gateways of exchanges.
Cash Deposit
If you are looking for a quick and easy way of buying Cryptocurrency, opt for a Bitcoin ATM in the UAE. There are quite a few options with various cryptocurrencies to choose from.
Credit / Debit Card
Using your fiat credit and debit cards to buy Cryptocurrency is now easy. Exchange services in the UAE support bank cards and usually charge a meager trading and deposit fee.
PayPal
Another option for investors or traders in the UAE is to opt for a PayPal account to buy Cryptocurrency. The method is safe and secure, with some exchange services supporting it.
In a nutshell
It is a ride of a lifetime if you are indulged in the crypto-sphere. The journey has just begun, and you need to weigh your options appropriately before investing. Choosing to pay with a credit/ debit card for Cryptocurrency is viable. The payment method is safe and secure, with several exchange services supporting it.
Disclaimer
The views and opinions expressed in this article are solely those of the authors and do not reflect the views of Bitcoin Insider. Every investment and trading move involves risk - this is especially true for cryptocurrencies given their volatility. We strongly advise our readers to conduct their own research when making a decision.