If you’re thinking of selling bitcoin in Dubai, you’re on the right track! The United Arab Emirates is a great place to do business, and there are many people who are interested in buying bitcoin. In this blog post, we’ll discuss some of the reasons why it’s a smart move to sell bitcoin in Dubai with cash. Keep reading to learn more!
Bitcoin introduction
Bitcoin is a decentralized digital currency, without a central bank or single administrator, that can be sent from user to user on the peer-to-peer bitcoin network without the need for intermediaries. Transactions are verified by network nodes through cryptography and recorded in a public distributed ledger called a blockchain. Bitcoin is unique in that there are a finite number of them: 21 million.
Bitcoins are created as a reward for a process known as mining. They can be exchanged for other currencies, products, and services. As of February 2015, over 100,000 merchants and vendors accepted bitcoin as payment.
Why selling Bitcoin in Dubai is a smart move
- The Dubai real estate market
It could be a smart move to sell BTC in Dubai if you are planning to buy real estate in UAE. The Dubai real estate market is on the rise and is expected to grow even more. According to a recent study by PwC, the MENA region’s real estate sector is expected to grow by 6 percent in 2018, reaching $180 billion. Dubai accounts for over 60 percent of this growth.
The main drivers of this growth are population growth and increasing urbanization, which are both happening at an unprecedented rate in the region. In addition, an increase in foreign investment, sustainable economic growth, and rising household incomes are also contributing to Dubai’s booming real estate market.
- Online transaction
Bitcoin is a digital currency that allows you to make secure and convenient transactions online without having to share your credit card or bank account information. It’s also a great way to store money outside of the traditional banking system.
With Bitcoin, you can easily send money to friends and family around the world, or make payments for goods and services without any fees or banks getting in the way. And because Bitcoin is digital, it can be used anywhere there’s an internet connection – no need for foreign transaction fees or trips to the ATM. Plus, bitcoins are stored in a digital ‘wallet’ that you control, making them much more secure than traditional currency.
- Reputable brokers
There are many reputable brokers in Dubai who can help you sell your bitcoin. However, it’s important to be sure to do your research before choosing a broker to work with. Make sure to read online reviews and compare pricing structures to find the best option for you.
- Best price for your currency
Dubai is a major financial center and there will likely be many buyers and sellers interested in bitcoin transactions. This result in competitive prices and a fair market value for your bitcoin. However, it also depends on the market conditions at the time of the sale and on the specific buyer or sellers willing to buy or sell at that point in time.
- Great Usage
You can use the proceeds from the sale of your bitcoin to invest in other opportunities in Dubai like property. In fact, there are a number of different options available to you when it comes to investing your bitcoin earnings. You could choose to buy property outright with your bitcoins, or you could invest in a property development scheme that accepts bitcoin as payment.
Whatever route you decide to take, be sure to do your research first and make sure you are getting the best deal possible. And remember, as with any investment, there is always some risk involved, so be sure to understand the risks before making any decisions.
Conclusion
It can be a smart move, but it depends on a number of factors including the regulatory environment in Dubai and the availability of buyers and sellers. As there is a healthy ecosystem for over-the-counter bitcoin trading in Dubai, so it is very efficient way to buy and sell bitcoin.
It’s also time to sell Bitcoin in Dubai as there are some new opportunities emerging. For example, there is a new company that allows people to use their bitcoins to purchase gift cards from major retailers such as Walmart, Target, and Amazon. This could also be a good way for people to liquidate their bitcoins without having to exchange them for cash.
