BitOasis - How to Buy Bitcoin in the GCC?
Over the past two years, the cryptocurrency fever is spreading in many countries across the world. And, it does not leave the countries in the MiddleEast like Dubai, Abu Dhabi, Bahrain and other countries of the GCC. But, the biggest problem was that most of the banks in UAE and GCC will not allow their customers to use credit/debit cards for trading cryptocurrencies. Because any kind of investment related to cryptocurrency always involves a significant amount of risk. But, things have changed after the launch of BitOasis which is listed as the first cryptocurrency exchange of the MiddleEast. Now, the users located in UAE, Kuwait and other GCC countries can easily buy crypto assets using their currency AED so that they don't need to pay any exchange rate fee.
Highlights of BitOasis Cryptocurrency Exchange
- Buying cryptocurrencies using fiat currency (AED)
- Multisignature wallet for storing your assets
- 2FA (Two Factor Authentication)
- Default Fraud Prevention
- Available as an iOS app
Is BitOasis secure?Yes. BitOasis offers a multi-signature wallet to protect your coins from unauthorized access. For completing any transaction, you need to sign the same using two secure keys. Otherwise, your transaction will not be processed on the blockchain. For that, every BitOasis wallet is provided with three independent keys which are given below:
BitOasis/User keyThis key is not only stored securely on the BitOasis server but also protected with 2FA.
Security keyBitGo is responsible for maintaining this key which will take care of the necessary security and fraud prevention checklist before authorizing the transaction.
Recovery keyIn case, if your account is hacked or some event occurs by compromising the security, you can make use of this recovery key. You don't need to worry about storing this key as it is managed by an independent legal firm will take care of that and assures 100% protection for your digital assets so that you need not face any financial loss.
Supported Payment methods in BitOasis
- Wire Transfer
- Credit/Debit cards
Is BitOasis available worldwide?Anyone can use the BitOasis multi-signature wallet for storing their cryptocurrencies. But, the buying/selling of the crypto assets are available only to those residing in the countries listed below:
- Saudi Arabia
How will you buy bitcoin or other cryptocurrencies from BitOasis?
Buying the BitOasis voucher1. First, you need to create an account on BitOasis by clicking the Sign up button on their homepage. Either you can create an account using your email address or your Facebook account. (For better privacy, use a separate email address instead of your Facebook account. 2. Then, activate your account by clicking the link in the confirmation email sent by BitOasis. Before proceeding to the next step, you need to provide your phone number as it is needed for verifying your identity. Note: BitOasis will send you a 6-digit code on your registered mobile number which needs to be entered every time you are logging on to your account. 3. Now, you need to buy voucher by depositing money on to your BitOasis account before starting buying any cryptocurrencies. And, you can do that by using any of the options below:
- Credit card - 6% fees for every deposit, instant processing
- Bank Transfer - No fees, but it may take some time to see the money on your BitOasis account