Bitcoins in UAE

What is a Bitcoin?

Bitcoin is a type of electronic currency, made and held electronically and nobody controls it.
Bitcoins aren’t physically printed, like dollars or euros. Instead, they’re created by individuals, and progressively organizations, running computers all around the globe, utilizing a program that solves mathematical issues.
The difference between the normal currencies and bitcoin is that there is no any institution control on Bitcoin network. However, The using of Bitcoins nowadays become a popular payment method that allows people to send money faster and cheaper than using the normal currencies. Also, it can be a way for investment where you can buy it and hold it for future in case its value increased. The currency can be bought via online exchanges and platforms like in UAE there is BitOasis exchanges which allow you to buy via bank transfer.

Also, Dubai launched in 2014 the first Bitcoin ATM machine in Dubai media city where you can also buy bitcoins there.

So, if you want to start using bitcoins you need to do this steps first:

1. Download a Bitcoin wallet:
a Bitcoin wallet is a program that keeps track of your balance and transactions which are held in a Bitcoin address and allows you to send and receive Bitcoins.The wallet will be either in the cloud or on your computer and it will be linked to your bank account. There are many options for wallets where they share the same functionality but they have different features. Choosing a good wallet will be very important where you need to make sure that your coins are safe and secure.

2. Add Bitcoins to your wallet
Now, after you got a Bitcoin wallet and you set up the Bitcoin wallet address you can purchase Bitcoins with your credit card or by using a Bitcoin exchange.

 

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