In the world we live in today, it is no doubt that cryptocurrency is taking over the world, and because you don't want to be left out, I know you seek platforms where you can buy, sell, exchange and even trade cryptocurrency. Well, in this article we are going to be focusing on just one of those platforms which are called BitOasis. I would be telling you what BitOasis is and everything else you need to know about it.
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What is BitOasis in UAE?
Bitoasis is an exchange for cryptocurrencies based in the UAE. The network is mostly aimed at clients in the Middle East. While Bitoasis accepts cryptocurrency deposits and withdrawals on a global scale, they only accept fiat money deposits from users in six countries. This group includes the UAE, Bahrain, Oman, Kuwait, Saudi Arabia, and Qatar. So if you are in the UAE, then you should be glad because you have a lot to benefit from.
BitOasis is the Middle East and North Africa (MENA) region's biggest, most stable, and most flexible digital asset exchange, with over fifteen (15) digital assets to purchase, sell, and swap against the UAE Dirham (AED).
Even though the exchange was established in 2015, Bitoasis is not listed on CoinMarketCap or any other prominent cryptocurrency data website. This makes determining how much is traded on the exchange impossible. However, with such a small user base, these numbers are likely to be even smaller than other leading exchanges.
What is the main currency on BitOasis?
The United Arab Emirates Dirham is the primary currency on the Bitoasis exchange board (AED). While cryptocurrency transactions can be made in USD, the exchange rate is far higher than the market average. Because of this, Bitoasis is a costly exchange to use if you choose to trade in dollars.
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What cryptocurrencies does Bitoasis support?
Bitoasis supports eight different coins, which are described below.
1. Bitcoin (BTC)
2. Ethereum (ETH)
3. Litecoin (LTC)
4. Bitcoin Cash (BCH)
5. Ethereum Classic (ETC)
6. ZCash is a cryptocurrency (ZEC)
7. Stellar Lumens (XLM)
8. Ripple (XRP)
Check out the list of supported crypto-to-crypto trading pairs on the Bitoasis exchange website. If you're curious why Stellar Lumens isn't classified, it's because it's combined with AED. All other funded cryptocurrencies can also be exchanged against AED.
If you can see, cryptocurrencies can only be exchanged against Bitcoin, which is quite restricted.
How to Sign Up for Bitoasis and Exchange
1. Sign up for a Bitoasis account. Your first port of call will be the Bitoasis homepage, where you will press on the ‘SIGN UP' button. The button is located in the upper right-hand corner of the keyboard.
2. Fill in your name, email address, and password. On the following tab, you must type your full legal name, email address, and a strong password. Check that all of this material is right if you will need to revise it.
3. Verify your email address. Bitoasis will give you an email containing a unique confirmation code. Simply copy and paste the code from the email into the package. Then press the ‘FINISH REGISTRATION' button.
4. Enter and validate your phone number. You must use your primary mobile number because you would be required to enter it each time you log in. This is a smart move by Bitoasis since it provides an additional layer of authentication to your account.
5. Funds to be deposited. You would need to deposit funds using cryptocurrencies. Click the ‘RECEIVE' button on your main dashboard tab. It is located on the left side of the panel. You will then be able to see your Bitcoin deposit address with Bitoasis. To finance your account, you must pass coins directly from your wallet. You can either copy and paste the Bitcoin address into your wallet or scan the QR code. It normally takes 10-20 minutes for Bitoasis to refund your account after the coins are submitted.
With this guide, we hope you have learned something. As the leading and award-winning SEO Company Dubai, Mobile App Development Company, and Web Design Company in Dubai, we will always provide you with awesome content.