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Home / Features / Why and how to get bitcoins in Dubai?

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Why and how to get bitcoins in Dubai?

Today it is impossible to underestimate the power of bitcoins. This is the world’s first and the most widespread cryptocurrency that has certainly put a dent into the global monetary system. The chances that you have heard about bitcoins by now are rather high, hence we are not going to explain what the bitcoin is and how it works. Instead of this, we will take a look at why one should get his hands on the bitcoin and how to do it if you are located in Dubai. Let’s begin with a “why” first.

Reasons to get bitcoins

One of the most obvious reasons to acquire some bitcoins is its potential as an investment asset. Just think of it, some four years ago you could have bought bitcoins at the price lower than $100 per coin. Since its value has reached over $1000 and is currently a little bit above $700. How much will bitcoin be worth in 10 years from now? This is a hard question, yet its potential is huge, especially considering that the amount of bitcoins is limited by its design.

You may also use bitcoins as a method of a payment, or even better, as a method of an exchange. There are quite a few online retailers that accept bitcoins. Actually, today there are such industries like bitcoin gambling, these industries are quite distinctive in terms of its application of the bitcoin. Instead of accepting BTCs and converting them into a USD (or any other currency) balance, at bitcoin casinos you can actually deposit in bitcoins and get paid out in bitcoins as well. In other words, bitcoins is used as a currency, not as a way of making deposits and withdrawals. There are more examples like this, but gambling with bitcoin seems to illustrate the potential usage of the cryptocurrency at its best.

The ultimate reason for getting bitcoins is simply to show your support towards decentralised and deregulated currencies. Many people believe that when the power of issuing money is given to individuals, this power can often be abused. By getting and using bitcoins you are actually able to benefit from the crystal-clear transparency that is empowered solely by the technology.

Buying bitcoins in Dubai

Now let’s take a look at some more actionable tips. How can you get bitcoins in Dubai? Let’s see.

Perhaps one of the easiest and cheapest ways to buy bitcoins is by browsing local bitcoin forums. Keep in mind that the only reason bitcoins became so popular is due to the community behind it. Hence, finding one shouldn’t be that big of an issue. One of such communities is a facebook group called Bitcoin UAE. Also, there are quite a few private listings throughout the web. Local Bitcoins webpage might be worth paying a visit.

Apart from that, you can try out BitOasis, it is a leading bitcoin exchange for UAE and you can buy bitcoins denominated in AED.

Next to his, there are a few more local exchanges or exchanges that support AED currency, such as: Vision Exchange and Xoom Exchanger.

Unfortunately, until now there is no bank in Dubai that allows you to purchase bitcoins with your banking balance. Hence, the options above would represent the best possible choices.

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