The United Arab Emirates is one of the most rapidly expanding cryptocurrency markets, and it aspires to become a blockchain hub. Since cryptocurrencies are still relatively new, global regulation is in its early stages. The UAE has never had it simpler to buy digital assets like Bitcoin. Traders can now easily buy Bitcoin in Dubai via Crypto Desk.

Crypto Desk is a cryptocurrency exchange in Dubai that provides its users in the United Arab Emirates with a hybrid of online and over-the-counter (OTC) experience. This hybrid system is one of a kind in the world, and it is being implemented for the first time by Crypto Desk in the UAE, one of the most crypto-friendly jurisdictions in the world.

Dubai is one of the world’s most progressive cities, with a number of ground-breaking projects. Crypto Desk, the first OTC Bitcoin exchange in Dubai, is one such project.

Race to become the best Bitcoin Exchange in UAE

In recent years, cryptocurrency has grown in popularity among financial institutions, and the UAE has elevated its efforts to turn the Middle East into a cryptocurrency trading hub by developing local crypto exchanges. Renowned exchanges such as Binance, Coinbase, and Kraken provide easy fiat on-ramps, but investors from the UAE find it difficult to use them due to hefty credit/debit card deposit fees of up to 10%, and many banks refuse to accept deposits and withdrawals from these exchanges due to strict regulations.

Given these challenges, the cryptocurrency world is changing, and it cannot be easy to find a way to profit from cryptocurrencies and blockchain technology, but this is not the case when you use a Dubai-based Bitcoin exchange Crypto Desk.

Over the last few years, the Middle East has established itself as a new hub for successful startups in the fintech and cryptocurrency industries. Crypto Desk is an excellent example of a regionally successful fintech startup in the GCC, with thousands of users benefiting from its innovative services. Crypto Desk is a top-tier authorized platform for buying, selling, and trading 500+ cryptocurrencies, fostering the development of the UAE’s crypto economy.

Crypto Desk is not a peer-to-peer (P2P) platform, so buyers and sellers can’t talk to each other directly. All cryptodesk’s users fulfill their buy and sell orders by transacting directly with Crypto Desk. The centralized nature of Crypto Desk gives it an advantage over P2P platforms:

1. A) Dealing with Crypto Desk as a licensed and regulated platform will be safer and more legal for users than dealing with a P2P platform, where dozens of illegal traders with different backgrounds and possibly unknown or illegal sources of funds could put the user’s safety and legal integrity at risk and force the user to face police court and public prosecutions. Individuals who engage in unlicensed crypto transactions will face penalties of up to 500,000 AED, according to DXB public prosecutions.
2. B) There is no risk of being scammed when dealing with a reputable and regulated platform as opposed to dealing with unlicensed brokers, such as those who operate on P2P platforms.

With Crypto Desk, transactions happen immediately; cash transactions occur in person, and Crypto Desk pays right away. Regarding bank transfer transactions, Crypto Desk will transfer the cryptocurrency to the user’s account as soon as the user’s bank transfer arrives at Crypto Desk’s account (and vice versa).

This is not true with P2P because the counterparty may never release the funds or may withdraw from the posted ad after receiving payment from the user, and there is a high risk of being scammed. Another disadvantage of transacting via P2P or with shady individual brokers in the city is that parties do not obtain KYC through transactions, and transactions are not documented, which is legally risky and can have irreversible consequences.

Bitcoin technology

Bitcoin technology uses peer-to-peer (P2P) transactions, allowing it to operate without the need for a third party to supervise each money transfer. It accepts online payments in real-time. The UAE government has begun to use Bitcoin technology in its transactions. To support this approach, it launched the Dubai Blockchain Strategy. Dubai will become a cryptocurrency hub, making it the first city powered by blockchain.

Crypto Desk is a cryptocurrency exchange platform headquartered in Dubai, with a high trading volume and the most competitive exchange rates in the area. Crypto Desk is the world’s first and only OTC exchange that charges no fees for exchanging more than 500 crypto coins.

Aside from giving retail crypto users in the UAE a cutting-edge user experience, Crypto Desk offers different crypto payment services to corporate and institutional users (B2B services). These services allow corporate and institutional users to benefit from using crypto transactions in their operations. Crypto Payment Services for Real Estate Transactions, Crypto ATM Services, Crypto Payment Gateways for Online Businesses, and Crypto POS Machine Services for Physical Stores are examples of B2B services.

These B2B ventures have earned Crypto Desk a reputation as a pioneer in developing the Middle Eastern crypto economy. The company was one of the first in the UAE to get a license to trade cryptocurrencies from the right people, paving the way for the use of cryptocurrencies legally and compliantly.

Dubai Crypto regulations

The forward-thinking UAE, which is obsessed with fintech, has taken a proactive approach to decentralized finance and has quickly established itself as one of the top markets for cryptocurrencies and blockchain technology. Dubai is one of the most favorable countries for cryptocurrency trading. It is one of the few countries that has not banned cryptocurrency.

Dubai already has regulations in place that encourage the establishment of cryptocurrency exchanges and other cryptocurrency-related businesses while ensuring client and consumer safety. As a result, the crypto exchange Crypto Desk has seen a surge in its business activity due to the increased confidence of traders amid the country’s crypto regulations.

About Crypto Desk

Crypto Desk is a cryptocurrency exchange platform based in the United Arab Emirates with a high trade volume and low exchange rates. It is a trustworthy, cutting-edge platform that allows users to buy and sell cryptocurrencies in Dubai. Crypto Desk is a hybrid of a crypto exchange platform and a crypto OTC service provider.

Link: https://cryptodesk.ae/

The platform can be used by both novice and experienced cryptocurrency traders to buy and sell cryptocurrencies. In addition to this, the Crypto Desk targets and serves both retail and corporate clients. Its services will allow traders to exchange fiat currency for cryptocurrencies in real time and securely. Crypto Desk is the world’s first and only OTC exchange with no fees for exchanging over 500 crypto coins. The facilitation of cryptocurrency payments for real estate transactions is a unique service provided by the company. Thousands of investors have used Crypto Desk to make bitcoin payments in order to buy their dream Dubai property.

Buy Crypto

Although many UAE banks do not allow payments to crypto exchanges such as Binance, KuCoin, or any other exchange, you can buy it from Crypto Desk via bank transfer from any bank in the UAE. You can also pay in cash and obtain cryptocurrency by visiting the office in Dubai.

Sell Crypto

Similarly, Crypto Desk facilitates the sale of cryptocurrency for both novice and experienced crypto traders. If you use their services, you can instantly and securely convert cryptocurrency to fiat and vice versa.

Benefits of exchanging your crypto with Crypto Desk

• Working with over 10,000 satisfied clients helped Crypto Desk build trust. The company has been in the cryptocurrency industry for over seven years. As a result, it provides a platform where users can trade safely and with price transparency.
• Crypto Desk is the world’s first zero-commission OTC platform. It offers a secure exchange with the lowest commission fees in Dubai for cryptocurrency trading. Furthermore, the OTC enables traders to conduct direct transactions.
• Crypto Desk charges no additional fees and provides competitive rates. You may find the most favorable exchange rates. Buying directly from Crypto Desk will save you a lot of money in the long run.
• The Crypto Desk service is both luxurious and convenient. It provides a secure system for cryptocurrency exchange and completes transactions quickly. Furthermore, it establishes a reputation by employing customer service techniques that allow the staff to respond to inquiries quickly. It is what sets it apart as the best cryptocurrency exchange in the UAE.
• Crypto Desk’s customer service is incredibly responsive and helpful, and it is available around the clock.
• The Crypto Desk office is located in a prime location in Dubai Downtown, near the Burj Khalifa and Dubai Mall, which provides traders with confidence and security.

What is OTC

The potential of the OTC market is so massive that all leading companies in the industry are paying special attention to it and ensuring that they properly incorporate OTC services on their platforms. The reason for emphasizing OTC is that without a convenient OTC experience, users will struggle to enter or exit the crypto market, jeopardizing the profitability of all defi enterprises.

OTC trading systems make it simple to buy and sell cryptos directly between a seller and a buyer. The procedure is frequently instant and does not necessitate the use of credit cards. Instead, payment is made directly to the seller from a bank account or in cash. OTCs also provide companies and individuals with high net worth who want high liquidity and privacy with a more private and customized service.

Crypto Desk is the most well-known OTC cryptocurrency exchange in the UAE. Brokerage executives, financial experts, and fund managers rely on it to ensure smooth transactions.

Evolution of Crypto in UAE?

• First official cryptocurrency started with Bitcoin

Bitcoin is the first decentralized cryptocurrency, and it was created in 2009 by Satoshi Nakamoto. Bitcoin is a digital currency that has no central bank or single administrator. It is just like cash, but without the physical form.

Cryptocurrency exchanges in the UAE, such as Crypto Desk, have streamlined the process of buying bitcoin by allowing you to convert your fiat currency to bitcoin and vice versa in a matter of minutes.

• Regulatory trend

The Dubai Multi Commodities Centre (DMCC) established a new Crypto Centre for firms developing various crypto and blockchain solutions to increase the use of digital assets. The government-backed DMCC houses companies that offer, issue, list, and trade digital assets and those developing blockchain trading platforms.

The Central Bank of the UAE (CBUAE) and the Securities and Commodities Authority are the primary regulators of the UAE’s financial and capital markets (SCA). Also, the Dubai Virtual Assets Regulatory Authority (VARA) regulates, licenses, and controls the growth of businesses that deal with cryptocurrencies.

• The UAE crypto market

The UAE has demonstrated its willingness to accept cryptocurrency in general. Real estate firms in the United Arab Emirates have begun to accept Dogecoin and other cryptocurrencies as payment. Also, the Central Bank of the United Arab Emirates has said that the central bank will issue its first digital currency by 2026. It is a big step forward for the UAE Central Bank and the growth of the cryptocurrency market in the country.

Conclusion

In the UAE, cryptocurrencies are legal. Residents of Dubai can trade cryptocurrencies on any cryptocurrency exchange in the country. So, if you want to buy Bitcoin in Dubai, you won’t have to worry about legal issues. Furthermore, Crypto Desk is a well-known cryptocurrency exchange platform in the UAE.

It enables you to trade multiple cryptocurrencies easily. The company has become one of the most trusted places to trade cryptocurrencies in the UAE.

FAQs

What is a crypto desk?

Crypto Desk is a cryptocurrency exchange marketplace with a high trade volume and the best exchange rates.

What is the use of Crypto?

In the UAE, two prominent use cases for cryptocurrencies are real estate and airline companies. Some of these businesses already accept cryptocurrency payments.

Which crypto exchange is best in the UAE?

Crypto Desk is the best cryptocurrency exchange in the UAE

Is cryptocurrency taxed in the UAE?

No, the UAE has decided to exempt cryptocurrency from taxation beginning in September 2021.