Best Bitcoin Brokers For Dubai

Who lives in Dubai or is temporarily resident, has no problems to trade cryptocurrencies from here. Because the free trade zone naturally allows trading and dealing with Bitcoin & co. One even hears again and again all kinds of interesting news from Dubai, which concerns cryptocurrencies. Thus the government is to introduce e.g. in the middle of 2019 its own cryptocurrency.

Just to understand: The revolutionary system behind Bitcoin - the so-called open blockchain system - is designed to enable value transfers from peer to peer without a middleman (such as banks). And very important: Bitcoin cannot be changed and reprinted by a central institution (such as a government), so there cannot be inflation. Furthermore - very important - cryptocurrencies based on decentral Open Blockchain systems cannot be confiscated and manipulated by authorities.

A state central cryptocurrency is the exact opposite of the idea behind Bitcoin, which will revolutionize the financial world sooner or later. A state cryptocurrency has no added value for the population compared to cashless card payments. In this case, the government retains power and authority over the money.

Let us therefore take the introduction of a state cryptocurrency simply as an expression of enthusiasm about the new technology, even if this application is a slight misconception. At least it puts Dubai in the spotlight once again in terms of progress and new technologies.

One nice thing, however, is that there are already apartments in Dubai that you can buy with Bitcoin. Read more about this Dubai real estate project.

The Best Crypto Brokers You Can Use In Dubai

When it comes to brokers in Dubai, residents have a free choice between the best crypto brokers in the world. When it comes to trading platforms, you have to be aware of some differences, because not all brokers are the same. They all have different focuses in their offerings.

For example, there are trading platforms where you can only deposit and withdraw cryptocurrencies plus you do not have to do ID verification.

Then there are brokers who are specialized in trading Bitcoin price differences, while on other brokers you can trade countless old coins.

Another group of brokers are the large international and state-regulated Forex and CFD stock brokers, who now all also offer cryptocurrency CFD trading.

In CFD trading, you don't actually purchase and own the underlying asset, but you trade price differences only. As a result of CFD trading you get a profit or a loss equal to the price difference. Whereby profits and losses are increased if you trade with leverage.

This instrument is therefore not recommended for beginners. In the following we will introduce you to the best cryptocurrency brokers for different requirements that you can use in Dubai.